“10 years ago, who would have thunk it possible!”
Today, before I get to Cable trading, I want to focus your attention to the
cryptocurrency space, specifically Bitcoin [BTCUSD] … while you can go to the
corrupt CME and trade Bitcoin futures, the volumes are meaningless and the
contract is “financially settled” at expiration, so it’s a cash settlement and not a
“Bitcoin” settled contract … well, I can trade fractions of 1 BTC, currently trading
around $8900 per 1 BTC, and I don’t have to trade it in $5 increments of price
demanded by the futures contract … and if you’re not “into” crypto or BTC, you
should be … ignorance is no excuse … and up ‘till now, what’s held BTC trading
somewhat at bay from going mainstream like FX, is that the bid/offer spread AND
round turn [RT] commissions are quite high.
But make no mistake, the moves and the ranges are there for some fantastic
money making, as well if you do “stupid shit” to lose your account … and no, I’m
not talking about the mainstream crypto exchanges like Coinbase, Binance,
Bitpay, Kraken, or Gemini, where getting crypto is your first step [and hopefully
only step] and then you take delviery of BTC in your account. Nope, I’m talkin’
about TRADING crypto, specifically BTC, at offshore brokerage houses … some
like PRIMEXBT, CRYPTO ROCKET, EVOLVE, and others coming online almost
every week have NO KYC requirements … give them an email address, fund with
BTC from any e-wallet, and you’re ready to trade in minutes, but that comes with
a price … and that price is usually a higher bid/offer spread and higher RT rates
as well.
There’s another player in town, and that’s “COINEXX” … trade crypto like you’re
trading EURUSD or USDJPY … the very best BTC bid/offer spread conditions
I’ve seen, usually between $0.25 - $3.00, and RT rates that are meaningless
… how meaningless? … currently less than $0.09 for a 1 lot RT trade .. and given
the way this stuff moves, less than 9 cents isn’t the reason you’ll succeed or fail
… current 20 Day Range MA for this week is about $425 … there’s more info over
on the sister blog at traderzoocrude.blogspot.com as I’ve transitioned away from
crude oil entirely, and the website is now focused solely on crypto … quite frankly,
crude oil CFD’s are D.E.A.D. … extreme bid/offer spreads, high slippage,
commissions to boot, and scumbag LP banks make the oil CFD’s unattractive
… and to make matters worse, most house oil CFD’s DO NOT reflect front month
oil futures, but instead you get a back month blend … yea, screw that … so instead
of creating a new website, and who knows maybe years from now oil comes back
into favor, I’m simply transitioning to the future of trading.
Why is BTC the future of trading? … cuz it’s non manipulative by government and
in order to push the price down, you have to own it first … you don’t go to
Coinbase, or any of the others, plunk down some fiat and get “short” Bitcoin
… but in order to trade BTC derivatives, you go to offshore brokerage houses and
trade it like you would the Euro or Yen, and therefore get leverage and the ability
to “bet” whether price goes up or down on what’s happening in the CASH
BITCOIN MARKET … and given the nature of the world post virus, where every
central bank has their CNTRL-P machines on high, and the fact that on
May 13, 2020 Bitcoin has a “halving”, where miners get paid half what they get
now for verifying actual BTC transactions on the block chain, BTC is the “gold
standard” of crypto ready to take over the world.
Quite frankly, all I care about in trading anything are the conditions of trading it,
and if the IVIX [intraday volatility] is high enough to make the costs of trading it
beneficially in my favor … if you want a market that moves, has probably the best
IVIX going of any market trading, AND you have the ability if you desire to hold
your account balances in BTC, so whatever you make in dollar terms is
immediately converted to BTC and added to your account, or if you lose
subtracted from your account, the BTC trading at COINEXX is the place to be
… much more over on the sister site … my point though is simple: if you’re not
trading BTC you should be, and the only reason I’m not trading it for the
PAMM / MAM is the fact that Turnkey doesn’t currently offer crypto trading … if it
did with the conditions found at COINEXX, it most likely would be the only thing I
would trade … “WTF, why would you need anything else”?
Today offers a textbook example of what happens in BTC when SHTF quickly
… cuz at COINEXX, the spread blows out to about $15+ when BTC goes from
about 9080 to over 9200+ in less than 3 minutes … in fact about a $150 rise to the
top … before that explosion, spread was between $0.30 - $$2.00, and near the top
it widened out to about $15, maybe $20 for a second or two … and this happens
cuz in the cash market liquidity evaporates on big spikes up or down, until
somebody shows up and puts “Humpty” back on the wall again … here about
5 - 10 minutes after the initial spike, the BTC spread is still “fat” around $8, worse
than PRIMEXBT but you have to consider that commissions at PRIMEXBT ARE
50X LARGER THAN COINEXX, currently around $9 versus COINEXX at 9 cents!
… and by any standard still way better than CRYPTO ROCKET.
BTC approaching $9300, and the spread back down to about $3 … so like in
anything else that trades on the MT4 or MT5, when SHTF and conditions get a
little bat shit crazy, the bid/offer spread widens … the difference here though, at
COINEXX, is that there are NO SCUMBAG LP BANKS MAKING THE MARKET IN
BTC!… it’s a worldwide market made up by millions of crypto traders large and
small, and it’s the actual cash market demand [good or bad] for actual Bitcoin
that drives price … no central bank CNTRL-P machine matters here, and the FED
right along with the rest of them can GFY! … and it matters, cuz in this market
it’s a pure “fear & greed” cycle at work, and that shows up in the M1’s better than
any analysis I could offer, and that means quit literally the trading algorithm is
better than excellent at spotting buys/sells than any other market traded, BAR
NONE! … BTC really moving now, with the M1’s enjoying AVERAGE RANGES of
about $25, with the spread between $3 - $5 … when it eventually settles down, the
spread will return to normal.
But what I want to highlight here, is the simple fact that BTC gives quite a lot of
buy/sell signals, and if you have to pay upwards of $10 for a cost to trade, how
do you take advantage of scalps that present themselves to you, if price only
goes $12 - $15 dollars before reversing … under “normal” condition, you can’t
… but if the spread is normal around $0.30 - $3.00, and your RT commission is
about 9 cents for a 1 lot [1 BTC], you can … costs matter, and even on a rather
small account I’m talkin’ about thousands of dollars a year you’re handing the
brokerage house for nothin’ to trade … why would you do this?
The BTC algorithm, absolutely “nailing” this market to the wall on the rally & the
liquidation … I have different conditions for BTC, that can be used in Cable and
other MT4 or MT5 markets, that when applied give superior returns … I’m in the
process of UPDATING the e-book “Trade For A Living!” to take into account BTC,
and it should be finished here in the next week or two … it’s easy, comprehensive,
AND IF YOU FOLLOW IT [big “if”], your shipload of cash will be waiting for you!
… but, and I can’t over emphasize this enough, you absolutely have to have a
LOW COST solution for BTC, that gives you MAX PROFIT, and that spells
COINEXX for BTC trading … sorry other houses, it doesn’t matter how good you
“were” … I’m talkin’ money here, and if it’s way cheaper for the same trade
someplace else, I’m not handing you thousands of dollars per year just cuz you
want me to … how many of you FX traders, trade at a place with a 3 PIP EURUSD
or USDJPY bid.offer spread? … raise your hands & show me … “oh, I don’t see
a lot of hands, now do I … wonder why that is? … cuz maybe the standard now
is around ½ a PIP … and if the house you were trading at now suddenly raised
the spread to 3 PIPS and it stayed there, what would you do? … EASY PEEZEE,
you’d call the money movin’ van & get the hell outta there ASAP … and this isn’t
any different!
Up in the upper right hand column of the website, there’s a LOGO link to
COINEXX to sign up for either demo or live account through my affiliate link
… sign up for the demo takes less than 1 minute, and make sure you choose the
MT5 platform … as always, being an affiliate only means the brokerage house
gives me a small percentage of your RT commissions when you trade, AND IT
DOESN’T RAISE THE COST of your bid/offer spread one penny … it’s a
“WIN-WIN-WIN” scenario for everybody … you get the best trading conditions
PLUS A FREE COPY of “Trade For A Living!” at no cost, the brokerage house
gets increased biz, and I receive a small revenue stream for all the work I do,
without it costing you one penny … OR, trade someplace else, pay more, and
send me $100 in BTC to my e-wallet … quite frankly I don’t care, but I’m betting
you do! … and btw, all those who have already received “Trade For A Living!”,
will automatically receive the updated e-book when finished, so if that’s you don’t
worry you’ll be among the first to get it.
About half an hour from SHTF in BTC this early A.M. in New York, and the trade
has settled down and the bid/offer spread has returned to about $1 - $2 with the
occasional blimp up when there’s a small spike … and with that move, BTCUSD
@ COINEXX has [so far] a day’s range of approximately $378, which is still under
the 20 Day Range MA for this week at about $425 … so, this isn’t a “one off”
type of day, but rather typical of BTC in the greater scheme of things … you want
to see bat shit crazy, tune into the sister blog traderzoocrude.blogspot.com when
the range is over $1000+ for the day … and that which is usually true in any
market as price goes higher over time, the ranges go higher with them … imagine
the ranges when BTC is at $100,000 per 1 BTC … you think this is nuts? … just
wait! … much more on COINEXX & BTC over on the sister blog, which btw is now
100% focused on crypto, specifically BTCUSD … ONE more item to mention
… leverage for BTC trades at COINEXX IS 5X, but inside your back office portal
you can choose to accept the margin bonus, which bumps up leverage to 10X
[10% of notional] … e.g, you want to trade 1 BTC = approximately 9400 … margin
would then be $940 for the trade.
OK, moving over to the “land of the living dead”, meaning FX in its current state
of drift & bullshit bank manipulation schemes, so far today about 11 minutes of
action [down] in Cable as sell stops under 1.24100 were taken out back and
slaughtered as the European session took over from the “Chuckleheads” in Asia
… and since that, go back to sleep Skippy, you ain’t missing a “Hoover Dam”
thing … we got M30’s that are barely 10 PIPS deep via the range, and again it’s
like watching paint dry … ONLY now, it’s a slow painful drift up as the banks
squeeze the shorts out drip by frickin’ drip, with the occasional 5 PIP pop UP
from nowhere out of the blue … no volume to speak of, liquidity atrocious, and
there is literally ZERO FLOW of price quotes … it’s simply lurch up, lurch back,
sit for 20 - 30 seconds, rinse & repeat inside a 20 PIP “Flyng Wedge of Death”
[FWD] for over 3 hours now … what a bucket of dog poo … “somebody needs
to sacrifice a virgin, or somethin’, to get this shit movin’ … c’mon man you’re
killing me here”!
Today sees ADP report over 21 million job lost in ‘Murica in April … but sure, no
doubt the “Stock Bellies” to new highs cuz SkyNet loves a worldwide
cataclysmic depression, which of course means that the faculty lounge Twits
will print MOAR!, and I can’t wait for the $100 loaf of bread … only in the
fantasyland of delusion, Unicorns, & fairy tales does this make any sense
… welcome to the FED casino!
What do you do with a market that simply refuses to trade, and is nothing but
stop hunts and little else? … what? … cuz Cable today is about as bad as I’ve
ever seen it … sure, the range says over 100 PIPS … yea great, about 80% of that
on 2 sell stop hunts out of nowhere that lasted but a few minutes, then followed
by ZILCH buying interest … and then it just simply sits and farts inside M1’s that
sometimes aren’t 2 PIPS deep in range … this is just pathetic … and then I look
over at BTC, and just roll my eyes.
One algorithm buy signal in GBPUSD today … PAMM / MAM UP LITERALLY
PENNIES, ON A SCRATCH TRADE THAT MADE COMMISSIONS BUT VERY
LITTLE ELSE.
And when I’m in it, and it doesn’t move like it’s supposed to, it’s a bad time to say
to yourself, “oh, it’s alright, it’ll go higher … maybe … please? … oh shit, now
wut”? … and outside of “Stock Bellies” index NDX100, which is in its own
delusional universe of a QE orgasm, there really isn’t another pair anywhere that
has acted well today … and certainly NOT anywhere in FX … “meh, it is what it is,
and we simply move on to tomorrow”.
… outta here … until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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