“See my disgusted, shocked face in the manipulated FX complex!”
NEWS FLASH!: Italy is in financial trouble … “wow, who coulda ever predicted
that the last 60 years since WWII has been over? … shocker I know … and Spain,
Portugal too? … see my shocked face”.
The Pols & E.U. Apparatchiks create the mess, and the banks manipulate the
mess, and spread it back around to the Pols, rinse & repeat … and in the wake
of the shocking news Italy is in trouble, the TBTF scumbag LP banks now have
license to steal as much as humanly possible … cuz you know, “duh, market
conditions, duh!” Directly below, the GBPUSD M5 algorithm chart for the day.
As you can see, it’s “panic city” right out of the starting gate … straight down
… then rally … then die in a bucket of bat guano. No follow through, no test of
the low, nada … simply a “chopfest” for the retail spec rats looking for crumbs.
“And quite frankly folks, I’m getting fed up with the LP bullshit of massive
slippage anytime volatility picks up, no matter how slight … today sees every trade
but one get back handed with 1 - 2 PIP slippage getting in, and then the same
getting out. I sold rallies, and while the market is going up, I get filled about 1 ½
PIPS lower on a f-ing “mystery tick”, and then it’s right back up. I buy on the
breaks, and I get filled 1 - 2 PIPS higher on the offer, and then it’s straight down
to where it was 1 second ago … all told, we lost about $300 bucks on slippage
today, and it’s bullshit … and these are the guys begging me to do more volume
… don’t count on it a-holes”.
A bunch of trades today … PAMM down collectively about $163, or 0.3%.
Which brings me to crude oil … somebody explain to me how I’m worse off,
trading crude oil and getting clipped a penny a barrel from the fills there? A 1
lot in crude is worth $10 per penny in price; a 1 lot in Cable is worth $10 per 1
PIP … right now, we are getting “monkey hammered” daily, with a few fills in
there that are Ok, but for the most part, anytime Cable moves we get screwed,
and nothing pisses me off more than expecting a winning scalp trade, and then
seeing a loser thanks to the scumbag LP bank.
The major difference between the scumbag LP banks in crude oil versus
Cable? In FX, the banks control the market, in crude oil, the banks
“arbitrage” [arb] the market with futures … they have absolutely no control
over price … they offer to sell you @ 66.50, and that means they can buy
@ 66.49 via an arb trade … and that’s it. In FX, everybody and their brother
knows these people are thieves, and I’m getting damned tired of being held up
at the 7-11 with a gun in my face every time I walk in the door.
And anybody who thinks that 4/10ths of a PIP spread is legit … good luck with
the real spread of about 3 ½ - 4 ½ PIPS, cuz that’s what it is.
Given the fact the futures routinely trade well over 2 million futures contracts a
day at a penny per barrel spread, how am I at a disadvantage trading crude oil
in the CFD with a 3 cent spread versus Cable when the FX scumbag LP’s
routinely clip us 2+ PIPS slippage on damn near every frickin’ trade when the
market is moving anywhere more than about 1 PIP? Given the daily ranges in
crude oil during our 12 hour window, basically Europe into mid afternoon New
York, that are larger than anything Cable has given anybody lately, how am I
worse off trading either WTI or Brent crude oil?
And the answer is, I don’t think we are at any disadvantage, and in fact have a
major advantage not offered in Cable … the fact the scumbag bank can’t
manipulate price to run stops and only act as arbs. In crude oil, they got no
power or control over anything but the spread they offer us, and then can arb
From the internet research Cousin It has done, Turnkey has the best available
consistent spread in WTI & Brent crude oil, coming in at 3 cents per barrel,
with occasionally going lower to 1 cent, and near energy reports going out to 6
or 7 cents. I want to be clear, I don’t have any beef with Turnkey … from all the
brokerage houses I’ve traded through over the years, they rank at the top. The
LP’s they have for crude oil usually leave the spread at 3 cents per barrel most
of the day … we couldn’t find that low of a spread anywhere else in CFD
trading … there is one place, but when you add RT commissions, it comes out to
over 4 cents per barrel net cost. The only other option is to trade the NYMEX
mini crude contract, which has a minimum tick spread of 2 ½ cents per barrel.
If you take the time to look, many brokerage houses offer crude oil at 5 cents
per barrel spread, and many are higher than that at 6 - 8 cents per barrel. RT
commission is the same for everything at Turnkey, which is $2 per 100,000
notional, so in WTI crude oil, it comes out to about 1 ½ cents per 0.01 lot, or
about $1.50 per 1 lot, where each penny is worth $10 … in other words, it’s
meaningless as a major cost to doing business.
In a good portion of the New York afternoon, after Europe has closed,
GBPUSD is a complete “shitshow” … there is simply no rhyme nor reason to
explain away the bank’s manipulation and horrible fills, in a market that has
zero action or activity … in essence, they create their own “action”, and every
trader on earth is the poorer for it.
I have spoken with Turnkey & had communications with the LP’s in Cable
… they say one thing while lying to your face, and then turn right around
seconds later and do another, and when you call them on it, their answer is
always the same; “umm, duh, market conditions, duh” … it’s been over a week
since I got my 6.808 second wait time on a market order fill, and I still have no
frickin’ answer from any of them … I’ve given these a-holes every opportunity
to give us fair fills with modest slippage, but they refuse … “are we just
supposed to sit here and give them hundreds of dollars every day in slippage vig?
Am I just supposed to STFU and pretend it doesn’t exist? Sorry, I can do neither,
and won’t allow the thievery to continue unabated … screw these FX clowns
… time to move to the most heavily traded commodity on the planet, crude oil
… where, if we lose money, it won’t be because the damn bank scammed us on
bogus slippage with a shit fill, it’ll be cuz the crude oil algorithm is simply wrong
… that I can deal with … what we are getting now is pure bullshit”!
So, no more getting scammed by these a-holes and told … “ummm, duh, market
conditions, duh” … on to a real market with real pricing, via a commodity
everybody understands and needs worldwide … so far, my personal trades via
the crude oil CFD in my own account have been good and the spread right at 3
cents, and the oil algorithm has performed excellently, so there shouldn’t be any
reason to expect otherwise for the PAMM … I know most of you understand my
frustrations of getting “jacked around” by the damn banks, but my focus is on
profitability … and we ain’t getting it in FX and didn’t in the stock indices
either … “why should we put up with this manipulative shit, when we can trade
the best commodity in the world at the best price offered by anybody? … yea,
So, on to crude, where I believe we will do quite well and not only get the
needed volatility, but real pricing, instead of the bank bullshit. And with that,
I’m outta here … I really need a cold one tonight, cuz I’m a little hot under the
collar … no worries, nothing I can’t handle, but it burns me some watching
money getting stolen right in front of my eyes, and they just shrug and take it
… no more … until tomorrow mi amigos … Onward & Upward!!
I haven’t had time to do the PAMM Spreadsheet; I’ll update it and post it here
Have a great day everybody!
OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND
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