VEGAS TRADES GOLD IMAGE

VEGAS TRADES GOLD IMAGE

Sunday, January 12, 2014

AGAINST THE WINDS OF DESTRUCTION



                                              A Forex Metaphor

I had planned on posting Friday afternoon; then Saturday, but the sickening stench of NFP Friday was still on my mind as the mindless dopes of FX tried to haplessly figure out the latest lies on the U.S. economy[“Up, no down, wait a minute… up I think .. crap, can’t this stuff (GBPJPY) behave?].

And if this wasn’t enough, I wake up this morning to see the twitter post of Pimco Grand Poohbah Bill Gross who says, “The age of getting rich quickly is over as is (most likely) the age of getting rich slowly”. [Emphasis mine]

Really?

Well, I guess when the Fed stops giving you POMO money that pretty much guarantees profit, you would most likely come to the conclusion the world is ending; because now, after years of being handed free money, you actually have to earn it by having some kind of strategy in the marketplace. Good luck Bill.

Which brings me back to Forex; anybody but me notice the spreads [pick any pair] before, during and after the NFP were anywhere from 5 to 40 pips? And you can sit there and tell me this is something worth trading and getting involved in a few hours before the bars open in earnest in New York and Chicago? [“Ha ha ha ha”]

One thing market experience [perspective] hopefully teaches you are that some things never, ever change; there were back in the day, there is now, and there will always be times when your best efforts are to sit and watch others destroy their accounts.

I always give thanks when somebody who has [maybe] about 6 months experience tells me to “get in there” and mix it up; stop being some kind of wussee; show me some “guts” and take a shot; you can’t win if you don’t play, etc.

Well, while you are living in your parent’s basement because college was too hard for you, and since you’ve now discovered FX and think this is the easy “golden ticket” for you, the lesson will you will eventually learn [the hard way I’m sure] is that the discipline necessary for success will always be something that eludes you.

The headwinds from the FX markets will always challenge you; there are no “easy” trades, only the decision to participate with your algorithm.

Have a great day everyone.

-vegas

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