“Me on the left … offshore brokerage house management on the right!”
Well, you B.I. Itch long & hard enough over time, and eventually they listen
… maybe not on the timetable you wished they were on, but sooner or later
somebody in management dissects the logic of the argument, and “lo & behold”,
shit miraculously happens right before your eyes … “you want to hit them upside
the head with a brick and ask them WTF took you so long, but it’s best to simply
pat them on the head, tell them they did good, and now don’t fuck it up, OK”?
And lightning strikes TWICE!, both at PRIMEXBT & at TURNKEY … as I
mentioned yesterday over on the crude blog site, PRIMEXBT now has a WTI
CRUDE OIL CFD, tradeable in 1 BARREL INCREMENTS [an industry first cuz I
haven’t ever seen this before] with a 2 cent bid/offer spread … add it all up, and
“total cost to trade” this CFD [spread + round turn commissions (RTC)] is about
2.5 cents per barrel … at TURNKEY, new LP’s in WTI Crude Oil sees a solid 2
cent spread, with RTC at about $0.004, making the “total cost to trade” of about
2.4 cents per barrel … the difference at Turnkey being account balances held in
dollars, and trading in 10 barrel increments, and PRIMEXBT account balances
held in Bitcoin [BTC] and trading in 1 barrel increments … minimal KYC at
Turnkey, AND NO KYC @ PRIMEXBT!
However, for you “Stock Bellies” aficionados out there, a major change in the
H33HKD stock index CFD @ Turnkey … this is the Hang Seng 33 … new LP’s
sees a bid/offer spread of 2 - 3 index points, which is as good as it gets, and
RTC is another approximate 3 index points, so “total cost to trade” this puppy is
5 - 6 index points … and given the way this thing moves, 5 - 6 index points is
NADA … I will also mention, trading hours over on the Pacific Rim are much
different than what U.S. or European traders are used to, cuz they break for
about an hour in the middle of their biz day for lunch … the trading hours are
04:15 - 21:45 server time at Turnkey, which equates to 9:15 PM EST - 1:15 PM
EST the next day … however, be aware that from 6:30 - 7:15 server time, the
spread COULD / WILL blow out to 40 - 60 index points cuz the futures aren’t
trading cuz of lunch … also, there is a break from the regular day session to the
overnight session, and futures are closed from 11:30 - 12:15 server time, so the
spread COULD / WILL blow out again … the market then closes for the day at
21:15 server time.
Since this is priced in HKD, a 1 index point move per 1 lot volume = about $0.16
… trade accordingly .., given the “first session” hours that I track on the Sunday
blog, the current 20 Day Range MA is almost 750 index points … for those in the
U.S., especially in the Mountain OR Pacific time zones, and love “night owl
trading” without having to stay up ‘till way past midnight, this market is a late
afternoon into the evening market … I recommend a Turnkey demo if you’re
interested in this puppy … one more thing … once the NYSE opens in the U.S.,
the spread for H33HKD can do anything, so beware trading this outside of Hong
Kong hours.
Turning to today’s markets, suddenly the “risk on switch” gets clobbered, and
it’s “risk off” “bigly & yuge” … and the demand for dollars sees a major surge
… then, once the entire sphere of longs has been crushed into dust, it’s time to
go after the shorts, with a 2 hour in your face ramp higher by about 50 PIPS, that
sees pain & suffering go to another level … ho hum, just another day in FX,
where depending on what time it is, you’re thoroughly convinced some FX pair
[you pick ‘em] will never again see an uptick … then it’s it will never see another
down tick … back & forth the FX roller coaster goes, and if you’re playing by
“traditional” indicators, you’re getting played worse than a violin at the
symphony.
It’s Noon in New York, somebody tell me why the world needs New York as a
trading center? … why exactly? … every day, almost without exception, it’s a bag
of shit for trading ranges and trading conditions in FX … with Europe closed now,
why would anybody on the institutional side of anything want to deal with the
scumbag, thieving, shit weasels a/k/a “The Wall Street Banks”? … nothing but
stop hunts, front running corporate orders with their prop accounts [which
legally aren’t allowed but who’s noticing?], and handing out “triple fuck you”
MAX slippage on just about anything any spec wants to do … over the last 2
decades, and especially since Ex-Preezy Empty Suit signed into law the
“Dodd-Frank” monstrosity in 2010, the U.S. has seen the financial sector of
the economy go further & further into decline … quite frankly, I had hoped Trump
would do something about this, but he hasn’t done shit … NADA … literally
ZERO.
And now that Europe is closed, here comes the familiar “turnaround” in stocks,
and in the “stock bellies” which have become infamous for gap reversals from
the European close … just a coincidence, right? … it’s all manipulated, central
bank horseshit via their BFF’s the Wall Street criminal cartel … and FX pairs find
themselves at the mercy of a bunch of crooks, where here at 19:50 server time
[12:50 PM just after lunch, and in “pre-coronavirus” days would be just before
tee off time on the links] they found another unwilling victim and ran some buy
stops in EURUSD … I’m sure whoever it was, whether some spec or a corporate
order that got raped, got a “fair” fill right at the top … “where o’ where are the
regulators? … oh right, watching midget porn on office computers”.
Quite frankly, I think maybe the world is “waking up”, cuz each week that passes,
unless there’s a very specific reason otherwise that’s making headlines, New York
is losing volumes & liquidity faster than the XFL went bankrupt … and it’s only
getting worse … what a fucking joke, and the U.S. only has itself to blame cuz
1) they regulated themselves out of business, and 2) they allow the shit weasel
banks to run roughshod over trading with no repercussions whatsoever … in the
last 10 years, JPM has paid out over $10 billion dollars in fines for “trading
irregularities”, and not a single person in management has even been so much as
questioned by regulators … of course why would they? … as long as the BTC is
deposited in the e-wallet or the cash in the garbage bag in the garage, why
should anybody care?
Multiple algorithm buy signal trades today in EURUSD … TURNKEY PAMM / MAM
UP BETWEEN 0.1% - 0.2%
Looking back over the day, there was only one buy signal in GBPUSD, and that
would have been a little “iffy” in real time … extremely pleased with latency times
on fills as well as price in EURUSD, which were all on the market to the tenth of a
PIP … realize, it costs 400% - 600% more to trade Cable versus EURUSD, as the
normal spread in EURUSD has returned from the bat shit crazy days of late March,
and from around the European open to about Noon EST in New York, the bid/offer
spread is 0.3 PIPS … RTC comes in at about 0.2 PIPS, so “total cost to trade”
EURUSD at TURNKEY is right at 0.5 PIPS … in Cable, “total cost to trade” is
about 2.5 - 3.0 PIPS, 1.5 PIPS for spread, 0.3 PIPS for RTC, and anywhere from
1.0 - 1.2 [usually, could be more] in slippage cuz they can … OK, 6X higher cost
… do I get 6X the action? … is the range 6x EURUSD?
With the exceptions of the DAX30 & XAUUSD, most of “stock bellies” are only
fractionally higher than before the “great dump” … in spot gold, the shit weasel
banks of the LBMA, along with the utterly corrupt COMEX, have boxed
themselves into a corner cuz there ain’t no physical to back up all the paper
outstanding, in the world’s biggest fucking joke of a market in the history of
markets … can’t wait to see how many longs want delivery against the June
futures contract, and the lengths the shit weasels go to, to come up with a new
paper scheme so they don’t have to deliver actual physical bars of gold
… something to look forward to in an otherwise ruined market.
… until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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