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Once I saw gold move it gave me a little confidence back. I remember how gold moved during the Brexit vote when the tide turned.

Volatility almost killed me, and I had small positions on. Stops were too tight. Now back even on day on that down move in dollar. Kept trying to find that trade.

It is a boring Monday. Patience, patience, patience. Aud looks like someone is standing on the brake and accelerator at the same time. No trades.

Man I don't see anything nor really want to for that matter. Despite the run-up in dollar. Would love to short USD/Jpy but it's too risky. That's ok. There will be trades later.

Ok I've sullied this thread enough. Peace, out. But I did order a copy of Fisher's book. So I can feel like I know what you guys are talking about for a change.

The thing is, we read about how some guys with a computer managed to take some good money out of the markets. Then you get imitators. Well, no disrespect to Garrison Keillor, but this ain't Lake Woebegone, and those geeks can't all be above average. I think that's what I hear you saying.

On a separate note, this time last year Gold was going down every day.

Yes that's what I was thinking too. I hesitate to call it smart money, but in this case it might be true. The thing is, they insure bonds, then park the proceeds in bonds. I don't think they could ever be net short the long bond even if the market was screaming at them to do it. More groupthink...

Maybe it's just a bad business model. Writing an option, which has limited upside and unlimited downside, on the same.

Just reading a little on bond insurance. Apparently there is a lot less insurance being issued, and it's only for high quality stuff. Well, the good stuff doesn't need the insurance anyway. The way I see it, even though they are forced to swim in the same pool with the sharks, the insurers can't...

Oh. I my understanding of the "basics" means being able to perceive change and then act upon it by taking a position, with the belief that the pressure will last long enough for me to unwind that position at a profit. If the machine can do it better and faster, I don't desire to play that way...

What are the basics?

Yeah back at it. And likewise. Had a solid week. Gave back some at the end, but that was because I was over committed. Had the direction basically right but couldn't hold on with the risk.

Got it. Unusual trading for a Friday afternoon. Thought about carrying a USD/JPY short into Monday, then decided against it. If it sells off hard, I'll just wait for the retracement. If it doesn't I didn't miss anything.

Yes

Nice. Wish I could tell you that I held on to euro, aud, etc. through the chop, but I didn't. Looking at it now, I see USD/JPY which doesn't seem to have bottomed. I can't really point to anything to say that except I don't see signs of panic and capitulation. And I look to the action in stocks...

Did someone just order a large serving of market manipulation? Oh, not yet. I see.

Sgt. Mavericks Lonely Traders Club Thread

USD/JPY I don't believe that's found a bottom either.

BTW late breakout above 111.20 by the Euro. On a Friday. At 330. I threw in the towel an hour ago. Haha.