“I
did, and it’s called ASSETS FX”
“How
many days did that fucking take; five, seven, maybe a week and a half?” In any
event, it didn’t take long, did it, for the “new” LP at ASSETS FX to begin the
process of raising spread conditions in the DOW30 & SP500? I have warned
repeatedly, given their track record of lousy CFD’s in the stock indices over
the last 2 years [this is their 4th attempt], that we would have to
watch carefully to see if the LP could be trusted to keep trading conditions
stable for customers; “of course not,
that would be too fucking easy and give clients a good stock index to trade
during U.S. hours. On some levels, these people are worse than the Clintons, and that’s
saying something.”
You’ll remember, just a few scant days
ago the DOW30 & SP500 were put on the ASSETS FX MT4 with spreads of 1.4
index points and 0.40 index points, respectively. Yesterday late morning, with
dull trading conditions everywhere and not a damn thing happening, all of a
sudden it changes. Below, a “snapshot” of the new quotes taken off my MT4.
Well, looky here; now we got 1.8 index
points for the DOW30 and 0.60 index points for the SP500; throw in round turn
commissions and the SP500 is untradable at a “net” cost of 0.7 index points
[who the hell is going to trade this?], while the DOW30 “net” trading costs go
from 2.4 to 2.8 index points. Too be sure, the DOW30 at 2.8 is still tradable,
but it is their continued pattern of
deception, lies, and ‘bait & switch’ that really pisses me off. EXIT
QUESTION: “Does anybody out there really
think this is the end to spreads being raised and money stolen out of our
accounts for absolutely no reason other than LP greed?” To ask the question
is to answer it.
Of course, the blistering email I sent
off to the LP will be met with crickets, cuz
bottom line is they don’t give a shit; same with the brokerage house. “Bitch all you want customers, we just gave
ourselves a raise!”
So far, they haven’t touched the DAX30,
probably because they have too many clients in Europe that trade it and they
need to stay competitive with other houses for this very popular stock index;
spread here has remained around 0.7- 1.0 index points, with a “net” trading
cost of about 1.7 – 2.0 index points. Not the best in Europe
by a long shot, but not anywhere near the worst either; above average and
tradable. We’ll see what happens here as well in the days and weeks ahead.
Seriously, these people are
contemptible, because they think we don’t notice or care about our trading
costs and that they can just do whatever the hell they want; in a strict sense
that is true, but it’s also true I don’t have to trade through you and can take
my trading account someplace else, so go
fuck yourself.
So, I’m not exactly in the best of moods
this morning coming into the day; my fuse
is short. And just for the record, I had to deal with the dog getting into
it with the neighbor’s cat late last night, thus cutting into my beauty rest. “Look at me when I talk to you … what the
hell are you doing? … how many times do I have to tell you he’ll kick the living
shit out of you cuz he’s got claws that hurt? … and so, after peeing for the
407th time yesterday, you decide to go looking for trouble? … hey,
guess what dumb ass, you found it!”
And so, he comes whimpering into the
house looking for Mommy, acting like
he deserves a ‘Purple Heart’ for bravery cuz his nose got scratched by the big,
mean, bad ass cat next door. And of course, Mommy pampers the living shit outta
him with ‘goo goo baby talk’ and hugs
and kisses as she puts a little antibiotic cream on the side of his nose while
he’s all shivering and upset. “For Christ’s
sake, it’s not even bleeding! It’s just a scratch.” [Ok, now who’s the bad
guy, as 2 sets of eyes pierces me like bullets for being “insensitive”.]
Ok, hours later after our brave Comrade
fought the “enemy at our gate”, he’s settled down and munching on a bacon Beggin’
Strip, and I’m tryin’ to figure out what happened as I partake in some medicinal
Scotch on ice. Best as I can tell, it all went down something like directly
below.
“All
I did was call him a ‘Pussy’ and he goes all nuclear on me!!”
It looks like Comrade Merkel’s statements
early this A.M. in New York
about “hard Brexit” got some gold shorts to hit the liquidate button; this after, of course, the Asian session
failed to produce a rally. This produced 2 moves to the upper RM=1 exhaustion
lines seen in the chart below, about 2 hours and 40 minutes before the 08:00
New York open.
So now we’re after 08:00 and we get the
first buy signal from the algorithm, and to be honest I’m not at all excited
about buying this stuff at 1270.75. The
chart directly below.
And really, after a few minutes, I’m not
liking the action in the marketplace cuz I don’t think we can vault higher due
to the fact we got Fed Beige book out later at 2 PM. Yea, it’s a long ways
away, and a lot can happen, but we already got an $11 range which is higher
than what we have seen lately. All I’m looking for now is a short spike up to
get out with a good fill, cuz I know if I sell [liquidate] after it turns
around, me and another 5,000 traders will be hitting the button. On that little
blimp up [orange arrow] I sell, and do get a decent fill, so my piddly profit
is a little less than half a buck after commissions. It is what it is, and if
this first signal is any indication of the rest of the day at this level [which
I think it is], then it’s going to take a nice waterfall of some kind to get me
long again today.
[Note: In case you haven’t noticed, I’m
taking the screen ‘snapshots’ of my algorithm trades as soon as I close them; I’m
doing that so you all know, at the time it is happening what I’m doing and
thinking. I don’t want Skeptic Cat on my ass, emailing me and telling me how
easy ‘hindsight’ is after the fact and ‘cherry picking’ a fill or some trade.
So, get used to real time trade charts as they happen. (Unless you think I can
somehow make data disappear off a chart on the MT4, in which case send me your
address and I will send you some more tinfoil.)]
Directly below after a couple of hours
[white/orange arrows were first trade], I’ve highlighted in blue another algo
trade you could have made and made money, although I’ve chosen not to take it
for reasons I said above. If you took it, then great.
From where I’m sitting, the day in gold
is over; I could be wrong obviously, but I just don’t see [unless the Fed Beige
Book produces some nasty surprises at 2PM] what “lights a fire” under gold to
go higher and expand the range. Looks to me like “chop” the rest of the day.
Right now, I need the beach[“yea, you can come … but leave the damn cats
alone, OK?] and some Vitamin C therapy [Corona & Limes]. You say it’s
too early do you? “Well, it’s 5 o’clock
somewhere!” is my response. I’m soooooo outta here. Until tomorrow …
Have a great day everybody!
-vegas
OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX
LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING
ACCOUNT – DO IT NOW!”
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