“So, want to get rich? … No? … then take my frickin’ order already!”
I want to start today’s blog with FX, specifically Cable [GBPUSD] and to some
extent GBPAUD … for those of you out there that have other FX pairs you trade
and are interested in, you can apply and extrapolate the same information to
them from today’s post … although, I will give a slight caveat that the correlation
won’t be totally perfect, simply cuz the lower down the IVIX [intraday volatility]
ladder you go, the harder it is to make CONSISTENT money from trading … and
right now, that specifically applies to EURUSD & USDJPY, where daily ranges
have been embarrassingly low on some days as to make them literally
untradeable.
Yesterday saw a fairly decent range in Cable and some good IVIX, and from the
European open to about NOON EST in New York, there were about 15 - 20
algorithm buy signals in Cable for scalps … not a single one of them was a
loser … let me repeat that … EVERY SINGLE ONE WAS A WINNING TRADE
… most netted between 3 - 7 PIPS, and one was approximately 20 PIPS … do
the math Skippy … and then you walk into today, and after 15+ hours of trading
Cable can’t even put in a range of 40 PIPS [oh wait, almost 50 now, how exciting],
and this points out a big problem in FX trading right now … and that is, wide
swings in IVIX instead of something more reliable, consistent, and steady … it’s a
real problem, and central bankers make it worse with their manipulations,
especially in EURUSD & USDJPY.
Now, if every day in Cable had an approximate 120+ PIP range, this would be
fairly typical … but as we all know, FX VIX if you combine all major pairs, is at a
historic low since 1971, when the dollar went off the gold standard … so, we
aren’t getting the “good old days” ranges, and we for sure aren’t seeing the
moniker Cable enjoyed when I was on the trading floor, when it was nicknamed
“The Widow Maker” … as we move lower on the IVIX ladder, it gets harder to
make money, and if the daily range falls below approximately 60 PIPS, turn the
machine off and go watch a movie … personally, I prefer to trade Cable to
GBPAUD, for the simple reasons of 1) cost to trade, 2) potential slippage if things
go “nutso”, and 3) bid/offer increases at the slightest hint of an increase in
volatility … unless conditions go totally orbital, these won’t appear with Cable,
and you get the majority of the move anyway.
And as important as the “Traders Course II” scalping algorithm is to make
consistent money, it’s equally important to recognize that WHERE YOU TRADE
MAKES A BIG “HOOVER DAM” DIFFERENCE TO YOUR BOTTOM LINE!
You also need an excellent offshore broker, otherwise you’re gonna get bent over
the backyard fence and … you know the rest, and there won’t be any kisses after
they’ve finished … if you want the very best bid/offer spreads, NO SLIPPAGE,
extremely low round turn [RT] commissions, extremely low margins
[top tier, IMHO], AND MOST IMPORTANTLY LIGHTNING EXECUTION TIMES, then
there’s only one place to trade … PRIMEXBT! … add in NO KYC to open and trade
an account, make deposits / withdrawals in BTC, and your balance is held in BTC,
not fiat … and seriously, there is NO better place or way to trade either crypto
AND/OR anything FX.
Even if you have a small account, the difference is thousands of dollars per year
in what bucket shops like Turnkey steal from you … if your account is larger, the
theft will be in the tens of thousands of dollars … [if you don’t want it, send it to
me, the “Ice Cream King” eats that much in deli roast beef!] … quite frankly, we
have a “new breed” of criminals in the offshore brokerage community … gone
are the days when they simply run off with your money, cuz they know when they
are caught they are toast … today sees them set up intricate “computer robots”,
that take your order and send it to a “preferred” liquidity provider, who first
hedges the trade at the correct interbank price with a large tier 1 bank LP, then
waits 2 - 5+ seconds to see where the highest offer is in the system has been to
fill your “buy”, OR waits 2 - 5+ seconds to see where the lowest bid is in the
system to fill your “sell” … so, for example, you hit the market offer [buy] button
to buy 200,000 GBPUSD at 1.30000, and 5 seconds later here’s your fill at 1.30018,
cuz during that 5 seconds you were on hold, the highest offer was your fill price
… of course from there, it’s straight down … and it makes no difference which
market you’re in, you get fucked no matter what … “hey, welcome to Turnkey,
please come again”!!
None of this kind of shit happens at PRIMEXBT … there isn’t any slippage to
speak of, and execution times aren’t in “SECONDS”, like at Turnkey, they’re in a
handful of milliseconds … click the button, and you’re filled NOW! … what this
tells me more than anything, is that my order isn’t being “gypped” by a fucking
scumbag bank LP & brokerage house for their benefit and my loss. Call Turnkey
on the carpet over their atrocious execution times, and all they say each & every
time is, “we’re a pure ECN & STP broker with tier 1 liquidity providers, and have
no control over spreads or fills” … that’s all they ever say, and you will get no
further with them on the subject no matter who you talk to or write to … fucking
crooks is what they are, and on round lots of FX, over the course of the year
you’re talking about a lot of money.
So, sign up to trade at PRIMEXBT through my affiliate link, get an extra 35%
deposit bonus, and start putting more money into your pocket … along with of
course, the “Traders Course” [TC] AND “Traders Course II” [TCII] FOR FREE with
any deposit [current minimum deposit is 0.001 BTC = about $8.30 … can you
handle this?] … why trade a demo, when you can trade minimum FX notional
amounts as low as 100 … that’s a penny per PIP in case you’re wondering … so,
your journey to “millionairehood” isn’t gonna start by itself while you sit on your
ass and do nothing, or trade somewhere else and pay through the nose for
nothing … if you can’t start trading and trade 100 or 1,000 of an FX pair, you
either live under the interstate bridge and read my blog at the public library, or
you don’t give a shit … quite frankly, neither is any good, come back when you
finally figure out that there’s a shipload of money sitting in a harbor for you, and
all you have to do is go get it … OR, join the FX CHOICE PAMM / MAM where I
trade DOW30, and I’ll do the lifting for a measly 17%.
Turning to the “Tulip Bulb 30”, and the Ponzi scheme known as U.S. stock
indices, in any kind of sane universe the DOW30 would be down over 1,000
points … of course we’re not, thanks to the Pukes at the FED, who somehow
think it’s their moral duty to protect stocks … “well, when you work for the
0.00001%, it is”! … the “Plunge Protection Team” [PPT] today about as subtle
as a group of topless college girls walking down the hallway in a Junior High
… “think anybody will notice”? … [nah, you’re good!] … protecting the 3300
level on the SP500 like a Mom cat protects her kittens from dogs … a bigger
fucking joke in the entire world I can’t name you … sorry … the hubris &
stupidity of this bunch is something to behold … “hey faculty lounge Twits; let
me know when you start printing $1 trillion a month, and it still goes down”!
But, as I have said before, just cuz they’re manipulators and they get “Chumps”
to pay ridiculous prices for worthless shit, and print hundreds of billions out of
thin air, soon to be trillions I’m sure, certainly doesn’t mean we can’t make money
off of ‘em … and we do … and I did.
One very good algorithm buy signal today in the DOW30 … FX CHOICE
PAMM/MAM UP ALMOST 1.0% [just a few pennies short] … Turnkey PAMM / MAM
UP SLIGHTLY LESS THAN 0.2%.
Why the difference? … fatter spread AND slippage, which are “hallmarks” of
Turnkey as a brokerage house … they suck, they won’t do a “Hoover Dam” thing
to change, and IMHO the place is the worst place on Earth to trade … it is what it
is.
Afternoon in Gotham, and the PPT is doing everything they can to prop this shit
up, via the “Flying Wedge of Death” [FWD] with 2 trips to each tip of about 100
index points apart … “nothin’ says lovin’ like PPT manipulation”! … you people
that continue to invest and buy stocks, mutual funds, ETN’s, & ETF’s are dopes
… it’s one thing to trade this shit, it’s quite another to buy the most expensive
stock market in human history and expect nothing to go wrong up here … ZH has
had articles all week on the various metrics that show this, and why trusting the
Twits at the FED is only gonna bring heartburn … but hey, it’s your money, throw
it away I don’t care … stock market goes down like “Thelma & Louise”, and then
you’ll join the club that ends up selling the bottom … but don’t worry, trees do
grow to the sky, and I’m sure this time is different!
The difference between you “investing” and me trading, is that I use the
manipulators to work for me to make cold, hard cash, and I take no overnight risk
home … you’re trusting the FED to take care of you … sorry, I like my chances a
helluva lot better! … until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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