website header 2

website header 2

Wednesday, May 30, 2018

NEW DAY, NEW MARKET … ALL THE VOLUME YOU WANT!

“What can possibly be better than swimming in crude oil?”

If crude oil moves, the oil algorithm will capture a good portion of the move, 
under normal trading circumstances … Brent or WTI makes no difference. 
Today sees OPEC rumors and the usual suspects talking oil up & down, 
making for the world’s most heavily traded physical commodity, that puts FX 
in the “old people’s home”, put in an above average range. Cuz in these two 
markets, it’s not the banks calling the shots … they have no power or control 
here.

Today sees over a $2 range for the day, where each 1 penny move is comparable 
to 1 PIP in any of the FX pairs. The oil algorithm absolutely nailed the price 
move today, and while I wish we were able to trade the futures instead of a bank 
CFD, that possibility has to wait a while. 

And while price was moving, I was engaged with the brokerage house on a 
number of issues that have literally robbed us of profit in the past … sure, I 
didn’t hold back one bit … of course, I’m not blaming them cuz it’s the 
scumbag LP bank’s who are at fault, but they are the liaison between the bank 
and us, and have no choice but to hear my concerns and issues. Without them, 
we have no standing with the banks, and can’t even get a “hello” from the 
a-holes.

Only one PAMM trade today … really, a test of the WTI CFD to see the level of 
 “scumbaggery” they might pull when actual money is at risk. No slippage on the 
fill getting in or out, but before you clap your hands in glee, with a 3 or 4 cent 
per barrel spread, there shouldn’t ever be any slippage, so getting what we 
should is hardly a reason to give them credit. Today has seen the spread from 1 
cent to as many as 6 cents; I’ll trade if it’s 4 cents or less, but anything 5+, they 
can forget cuz it’s not in our financial interest to give money away to these 
scumbags. Most days will see the spread either at 3 cents or 4 cents for the U.S. 
trading day, with a sprinkling of 5 cent spreads to trap the unwary. And, they 
won’t explain what separates the need to raise the spread other than, “ummmm 
duh, market conditions, duh!” “It’s a B.I. Itch when you have to lie to explain 
highway robbery, but since they’re used to it, I’m pretty sure they don’t care or 
lose any sleep over the practice”.

So, the one trade I did make today made a few bucks ... nothing significant 
… and tomorrow sees regular trading start in WTI.

As with any derivative traded, the only scenario where problems arise for the 
algorithm, is if volatility collapses to below normal levels and stays there 
… with increasing world demand for oil, increased geopolitical issues that could 
potentially impact oil markets, political instability with ever larger deficits and 
debt, I have a very hard time seeing anything that could make crude oil “dull & 
boring” with no range, day after day running into weeks and/or months. But, 
even if it did, how’s it any different than the current crapola in FX? As I said 
the other day, show me how we are at any disadvantage trading crude oil [Brent 
and/or WTI, makes no difference] versus anything in FX .., if the spread can 
stay decent [2-4 cents], given the ranges, we are actually better off than before.
I’ll have more on all of this tomorrow, including a surprise market I want to 
talk about as well … and with that, I’m outta here for a cold one … until 
tomorrow mi amigos … Onward & Upward!!

I’ll have the updated PAMM Spreadsheet here in a few hours after dinner, and 
I’ll post it directly below.

UPDATE 6:00 P.M. EST.: PAMM spreadsheet directly below.


  Have a great day everybody!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND
OPERATIONAL; SEE “PAMM/MAM MONEY PROGRAM” IN
“DOWNLOAD LINKS” SECTION IN RIGHT HAND COLUMN
FOR DETAILS [VIEW ONLINE AND/OR DOWNLOAD] AND
START YOUR JOURNEY FROM WHERE YOU ARE AT TO
“ESCAPE TO SUCCESS”!

  








 

No comments:

Post a Comment