“What other traders say to FX Liquidity Providers [LP’s] … NOT ME!”
Well now, isn’t this interesting … GBPCHF not having a 1 PIP spread today, or
yesterday, but upwards today of 2.7 PIPS at its height, right near the top early
this morning … and what you find from the scumbag LP bank is that when
nothing is happening they make a 1.5 PIP bid/offer spread, but when price starts
to move even the slightest towards a high or low, out goes the spread from 1.5 to
as much as 2.7 PIPS … “nice 80% gouge from the thieves seeking “protection”
against stops AND those wishing to scalp … well guess what? … the LP’s aren’t
going to let you scalp! … not to say GBPCHF can’t be traded, but it isn’t the
scalping vehicle I thought it was … but no problem, cuz everything in FX is
nothing but “fairy widgets” anyway, I’ll simply slide over and trade EURJPY!
And while in a perfect world I would avoid YEN crosses, the most liquid & heavily
traded one I have to accept for the following logistical reasons … 1) LOWEST
COST BID/OFFER SPREAD out there, coming in at 0.1 - 0.4 PIPS [11 - 19 server
time], and only a few tenths of a PIP higher at all other times … 2) most heavily
traded non dollar cross so liquidity & volumes traded can be much higher, and
3) good to excellent IVIX INDEX levels during the all important 11 - 19 server time
[4 AM EST - NOON EST].
On the blog update this coming Sunday, I’ll have the EURJPY IVIX INDEX charts,
like those for GBPCHF … “why should I pay 100% - 300% higher trading costs for
GBPCHF over EURJPY, when EURJPY is more active & volatile”? … I can’t think
of any reason either.
I’ll still update and follow GBPCHF, and when conditions warrant that make sense,
I’ll trade it … until then I’ll trade EURJPY cuz conditions are near perfect … today’s
IVIX INDEX levels in EURJPY ARE AS FOLLOWS; … 11 - 15 server time,
IVIX INDEX = 50, and 15 - 19 server time IVIX INDEX = 60 … range today slightly
above the 20 Day Range MA, about 10% higher … meanwhile, for GBPCHF, 11 - 15
server time IVIX INDEX = 56, and 15 - 19 server time IVIX INDEX = 62 … in essence,
the latter are almost exactly the same, so why pay trading costs that are many
times higher?
One algorithm trade today in EURJPY … PAMM / MAM UP SLIGHTLY.
I treadled lightly today in EURJPY, and didn’t make the switch out of GBPCHF to
well after the NYSE opened … by then, it was pretty obvious the scumbag LP’s
weren’t going to offer conducive trading conditions in GBPCHF, but rather play
the part of the thieves that they are … well screw ‘em! … if I wanted to pay a
spread of 0.5 in GBPUSD & 0.4 in USDCHF, the cross should be around 0.8 - 1.0,
not above 2.0 it was for most of the day … meanwhile, EURJPY is actually trading
at a discount to its numerator & denominator! … DON’T OVERPAY TO TRADE
ANYTHING!
These scumbag LP banking thieves are always trying ways to steal money out of
trading accounts, and they have to be watched constantly or otherwise you end
up paying for their malfeasance … and one of their very favorite tricks is to fuck
with the spreads, to try and prevent scalpers from picking them off for PIPS,
especially in the pairs and crosses that are not heavily traded … quite frankly, I
didn’t think these assclowns would “rip” a major cross like GBPCHF, but when
they do there’s only one thing to do, and that’s walk away … the only thing they
understand is lower trading volumes and losing revenues.
I didn’t think it would only be 1 day until they got greedy, but it is what it is, and
they are who they are … EURJPY is simply too heavily traded & popular among
bigger traders, and like EURGBP, they have no choice but to keep the spreads
competitive or risk losing significant biz … well, I got no problems with EURJPY
cuz it meets or exceeds all of my parameters for a market … I would have
preferred a non Yen cross, but again, what difference does it make in the final
analysis? … “OK, make EURJPY “soiled underwear futures” … does that
change anything? … nope, numbers are numbers, and in the infamous words of
Gordon Gecko, “he doesn’t know the difference between preferred stock and
livestock” … and so it goes, avoiding the alligators and swamp creatures as we
float down the FX river to profits, cuz the trading algorithm doesn’t really care
what river we’re on.
… until tomorrow … Onward & Upward!!
-vegas
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