Oyyyyyyy !!
Today we saw trading in EURUSD and AUDUSD that very few will
ever see; [near] triple reversal days. I can’t remember 5 times I have ever
seen this in 30+ years of trading currency pairs. Wow. Seriously, WOW!
We made a little money today trading EURUSD, where the
algorithm did a good job of picking entry points. If price had gone another 6
pips on the high, we would have gotten a great short position, but it missed by
only that much.
Gold is a complete mess; there is no way I’m trading it in
its present market condition. There simply is no way to gauge risk in a
position. $3 - $5 stops are a joke; you would be lucky to get your stop in
before it went $3 - $5 either way, that’s how random price change has become.
$10 breaks/rallies don’t mean anything. Throw into the equation dealer spreads
and slippage and there is no way. Sure, you can get lucky, but your losses will
be killer to your account.
The algorithm, after some very recent revisions and updates,
is performing very well in the currency pairs. I have intentionally been using
low leverage in the past couple of days to trade given current market conditions
to verify the recent changes as profitable; simple as that. I don’t optimize
data and turning points when updating the algorithm; I care about now, not 5
years ago. I make changes based on theoretical and philosophical trading ideas
and then incorporate them into the algorithm.
Leverage is ample and risk can be optimally controlled with
the changes I have made. So, look for my leverage [and profits] to increase in
EURUSD and AUDUSD as we go forward here.
As I mentioned yesterday, if you are a current PAMM client
or interested in being in the new PAMM at our new brokerage house, contact me
for details on how to make the transition. If you have any questions email me
at vegasxau@ymail.com
Have a good day everyone.
-vegas
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