Glorious Monday Morning Briefing

I had a kick ass weekend…. working! Yeah, I know – I was supposed to be kicking it at the beach but got sucked into the matrix working on my dragon slayer of a swing trading system. Documented everything for acid/sanity testing done by Scott, my brother from another mother. He may be follicle challenged but what lurks behind his rough facade is a kick ass systematic trader who rarely misses anything. In fact he helped me uncover a little bug in the backtester last week which sent me into a psychological tailspin but which in the end proved to be very positive and led to a solid system we’ll be trading starting this week. Seems like Scalpius (which is what I’m calling it) works best on the three major Forex pairs – USDJPY, EURUSD, and GBPUSD.

This is what I tested over the weekend between April 2012 and last Friday. Since then I have actually been able to improve the ruleset but I won’t post that P&L graph as it’s simply ridiculous. Small but very consistent edge – just keeps on churning day after day. Anyway, I’m very excited to start trading this one internally. My biggest thanks go out to Mrs. Evil who is the most stunning and gracious wife anyone could ever ask for, but also the most patient and understanding – in good as well as bad times. Of course she’s lucky to have me – heheheheee 😉

Good entry opportunity right now on the spoos. I’m already long but if you are not you should wait for a little drop lower. The rising 100-hour should offer sufficient support at this point – although in this market environment there is no telling which way it’ll swing. So far we’ve been doing well staying ahead of the tape – hopefully as long as we don’t get married to a particular direction our streak will continue.

Soybean oil is my second favorite setup this morning. I’m long with a stop below 32.33 – it seems like that one has painted a medium term low and is ready to bust higher. I would however have preferred a touch of the 100-day SMA. But perhaps that’s the trap – staying shy of that and reversing then with an empty bus.

Now you may wonder what my favorite setup is then – please step into my lair:

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A bit of event risk today around 1:00pm Eastern as we’ve got a meeting of all the big finance honchos over here in Europe, deciding the future of us Euro-trash worker bees. I can tell you right now what they’ll brew up – more coin/bailouts for their cronies whilst socializing the losses onto the hapless public. You got to appreciate the level of sophistication with which they are screwing us. There’s a great popular saying over here in Spain:

Loose translation: They piss at us from above and tell us it’s raining.

Cheers,