“Choose!”
You’re gonna swallow one of ‘em, you got no choice … so what’s it gonna be
Skippy? … quite frankly this isn’t a new phenomenon, as it was the essence of
what prompted me to be a “trader” from the get go after graduating college … it
didn’t even take one day inside corporate ‘Murica to know I wanted out ASAP,
and fortunately for me, I ended up at the right place at the right time just before
the start of the financial revolution in trading … it might have made the
transition smoother, but it was gonna happen regardless, cuz if it hadn’t
happened I probably would have ended up trading grains … so people today face
the same set of circumstances, only the names change.
I can smell bullshit a mile away … interesting thing is though, the more time you
spend standing in bullshit, the more immune you get to the smell, to the point
after time you rather enjoy the aroma … people will do “whatever it takes” to
remain in their “comfort zones”, cuz there is this air of psychological “stability”
that somehow wraps around them and subconsciously tells them everything is
better with what is known [no matter how shitty & undesirable], rather than face
staring into the abyss … make no mistake, trading isn’t just about MONEY, cuz if
it was everybody and their brother would be doing it … how come no mainline
university offers degrees in “trading”? … not a course, but a “degree”? … I’ll tell
you why … “it’s not in the best interests of corporate America for one, and two,
it’s uncomfortable crawling up inside somebody’s head to find out the reason(s)
for actually wanting failure”! … cuz the failure that leads to account ruin
ALWAYS BEGINS the same … inability to see reality and make necessary changes
to achieve your goal … and quite frankly, most people will erect the little “lego
hurdles” in front of themselves so as to convince themselves they can’t make it
over the hurdle … it’s so much easier to suborn financial freedom and take the
“blue pill” of “groupthink”.
And while society as a whole shifts the ever moving goalposts of “groupthink”
acceptability, with coronavirus & police state tactics the buzz, cuz you never
really know who the crowd turns on next, in the financial sector it’s biz as usual
with nothing changing in the slightest … in other words, you’ve always been and
always will be under the thumb of the scumbag banks & their master, the FED
… quite frankly I’m confident that almost all reading this are under the thumb of
banks, one way or another, whether it’s credit card, auto financing, mortgages,
etc. … and without ever realizing their intent all along was to entrap you into a
lifelong habit of enslavement … why do you think many dream of owning their
own biz? … but amazing thing about owning & running your own biz, is almost
nobody plans for the moment when it’s all taken away by somebody else, or group
of somebody’s, that you have absolutely no control over … and suddenly it’s ALL
GONE … all your work, effort, toil, long hours is taken away from you.
Well guess what? … that can’t happen in “trading”, cuz world markets are never
going away … there’s too much at stake in the “system” for that to be allowed,
and it’s the same rationale as to why the Nazi’s never invaded neutral Switzerland
… there always has to be the “safety valves” for business & wealth … “you gonna
sit there and tell me that the trillions of dollars currently sitting in tax havens all
over the world can’t be stopped and reversed if mainstream European & U.S.
democracies wanted it to stop”? … it’ll NEVER BE STOPPED cuz it would affect
too many already in power … as a corollary, the thieving & stealing by scumbag
LP banks will never stop cuz it feeds all the POLS & Apparatchiks the world over
… B. I. Itch all you want, it only gets paid lip service in world biz … the fact that
JPM has been fined OVER $10 BILLION DOLLARS over the last decade for
“trading irregularities” [caugh, stealing/thieving, cough], so bad the U.S. Dept. of
Justice [DOJ] calls their precious metals operations a “criminal enterprise”
worthy of the “RICO “ tag, and yet nothing is ever done, nobody ever goes to
prison, and life goes on … now why do you suppose that is?
I have argued relentlessly over the decades to people about the “pros & cons” of
trading as a career & biz … there isn’t any better biz you can start & run, and in
the last 1 ½ years it has only gotten light years better with the adoption of crypto,
as well as NO KYC, to make everything you do “invisible” to the outside world
… quite frankly, if you wanted to, you could easily be one of the world’s largest
financial traders in “name your market”, without any government interference or
impact on you or your money … “OK, somebody tell me what’s not to like here”?
… ahh yes, but to paraphrase Shakespeare, “here’s the rub” … “the banks know
that collectively people are weak, and that your bad trading habits will inevitably
lead to you handing your money over to them … if it were the other way around,
do you think they would let you join the trading club”?
This week sees me go 100% full throttle towards EURUSD, and say goodbye to
indices, and some other FX, namely Cable [GBPUSD] & their crosses, simply cuz
it’s impossible to 1) define risk, and 2) the slippage is horrendous … in other
words it’s “highway robbery”, not the least bit accidental cuz it’s programmed
into the computer systems for bank MAX gain … “so sorry, we fuck you now,
OK”? … and that leads to the “red pill” of the world’s largest 2 markets,
EURUSD & USDJPY, which couldn’t be any more stark in their differences as
markets … in the “new” VIX MATRIX TABLE, are the markets [7 FX pairs, spot
gold (XAUUSD), & 2 crypto pairs] that offer 1) definable risk parameters,
2) LOWEST COST TO TRADE, and 3) acceptable IVIX using the trading algorithm
… the 7 FX pairs all offer trading spreads 1) under, 2) at, or 3) ever so slightly
over 1 PIP, and the round turn [RT] commissions at COINEXX are meaningless to
profitability, coming in at about 2 tenths of a PIP … only spot gold is the
exception here, where the “traders tax” of ridiculous bid/offer quotes is still the
norm, and my hope is this market can come back … and while I’m hopeful, I’m
not optimistic it ever can … “how many states that had “toll roads”, once the
bonds were paid off, took the tolls off? … right NONE, cuz the POLS liked the
free money and kept them … scumbag banks are worse than POLS, so I
wouldn’t at all be surprised to see the “traders tax” become the norm going
forward, and we never ever see a return to less than 20 cents per Oz. bid/offer
spreads for trading”.
Directly below, this week’s “FX & CRYPTO VIX MATRIX TABLE”, followed by the
20 Day Range MA’s for selected markets.
click on ANY table or chart to enlarge
FX
EURUSD & EURJPY
As you can see, I’ve separated EURUSD into its own chart, included the
European session as “intraday”, to show people that about 80% - 90% of the
day’s range will be put in during the 10 hours of 10:00 - 20:00 server time, and
I’ve also included EURJPY, the most heavily traded of the EUR crosses … for
those who want a little extra “spice” to their trading, you get about a 20% “kick”
in increased range & volatility while only seeing a tenth or two tenths of a PIP
increase in the spread … and besides, many people like to trade crosses … over
the last years, the cross has become more EUR dependent for its movement,
but don’t kid yourself the JPY makes it move faster & harder when it goes.
AUDUSD & AUDJPY
Both of these paris are excellent alternatives to trading EURUSD and/or EURJPY,
and currently enjoy only very slightly higher spread costs to trade with
heightened IVIX … depending on 1) your area of interest, and 2) where you live
and when you want to trade, both can fit the bill.
USDCHF, USDJPY, & USDCAD
For North [or South] American traders, unwilling to burn the midnight oil and
become a “pajama trader” for EURUSD and/or EURJPY, USDCAD is another
good substitute cuz it most definitely is a New York / Toronto market.
XAUUSD
Like I said, right now gold isn’t tradeable cuz of the idiotic “traders tax” the
bullion banks have in place … one glance at the VIX MATRIX TABLE shows you
why.
Onto the week! … until tomorrow mi amigos … Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
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