What my biggest fear coming into today, after the Christmas Holiday
“Pump & Dump” $4000+ by the crypto “whales”, is exactly what is happening in
Bitcoin [BTCUSD] … it’s literally impossible to trade this shit given $20 - $40+
spreads at Turnkey, unless you want to give money away … makes ZERO
difference if you’re buying/selling, cuz once “IN”, getting out without suffering
1) huge slippage, AND 2) a widening spread that does you no good, but makes
the scumbag HFT LP richer, richer-er, & richer-er-er-er every time your finger hits
the buy/sell button … your profits get severely short changed, and your losses
get salt rubbed in ‘em … screw ‘em! … all the while BTC isn’t really moving
anywhere! … it’s been a classic Holiday “Pump” by the “whales”, and since the
Asian open a “Flying Wedge of Death” [FWD], grade A clusterfark of “Dump” to
the Chumps of the Earth, retail “gobble gobble” specs … what a bag of shit
… “Merry Christmas & please come again soon when your $600 “Free”
Gubermint check arrives”!
No pricing today even close to acceptable in BTC … sure, got plenty of signals
… do I want to buy with a $30 - $40+ bid/offer spread? … hell no I don’t, cuz I
know if I do, they’ll grind the order worse than a Las Vegas slot machine … and
my fear is, if the “whales” keep pumping BTC higher, the hell to pay when it’s
over will be immense … far worse than what gold saw in August/September after
hitting new ATH and then going “Thelma & Louise” muy mucho rapido!
However, not all is lost just cuz the BTC HFT “Assclowns” have taken over … cuz
an analysis of the other crypto pairs shows an even better trading vehicle than
BTC, and almost ALWAYS priced fairly with an excellent bid/offer spread that is
equal to or slightly better than most “open order book” platforms, and the RT
commission is meaningless … literally meaningless, coming in at a couple of
pennies … and the “Winner Winner, Chicken Dinner” is LiteCoin [LTCUSD]
… priced currently around the $130’s, at Thanksgiving it was around $70 … the
bid/offer spread at Turnkey is roughly around 20 cents [$0.20 ± a couple of
pennies], and the RT commish is under 3 cents per 1 lot LTCUSD, and a
1 lot volume = 1 * price … trading minimum is 0.01 volume lots, and MAX is 100.
It trades better than BTC, and isn’t subject to the “bat shit crazy” changes in the
spread, although, it has its moments like every other crypto pair so you can’t do
“stupid shit” or be lazy in your approach … the “MODIFIED TUNNEL TRADING
[TT] ALGORITHM” works better than anything you’ve ever seen or paid for in the
scalping / short term trading environment … quite frankly, the total cost to trade
LTCUSD is roughly equal at Turnkey, PHEMEX, and/or PRIMEXBT at around the
20 - 25 cent level … all 3 houses are NO KYC, the margins are different, with 10X
at Turnkey, 20X at PHEMEX, and 100X at PRIMEXBT … on a percentage basis it
moves farther and faster than BTC, so like I said, you can’t be doing “stupid shit”
like doubling or tripling up, or something higher and expect NOT to get carried
out “toes up” … sure, when BTC behaves, great I’ll trade it … but there are way
too many days like today, where the HFT LP’s feel justified in raising the spread
cuz they can … “duh, market conditions, duh! Horseshit” … screw that … so
tomorrow and going forward I’ll get a feel for BTC when I come in & watch it, and
if I don’t like what I see I’ll trade LTCUSD for the PAMM / MAM … now, if you’re a
“big trader”, you might find LTCUSD somewhat constraining cuz it’s “sneaky”
movement can sometimes lull traders to sleep, while there’s nothing “sleepy”
about BTC … IMHO, LTCUSD is a much better trade the smaller your account … if
you trade it any other place besides Turnkey, like PHEMEX OR PRIMEXBT, I’d
open a Turnkey Demo and put the algorithm on the demo and place my real
orders accordingly … from my own personal experience, dealing with the MT4
for charting & signals is far, far easier than messing with either the PHEMEX OR
PRIMEXBT charts and MT4 allows multiple chart windows for easy viewing
across time frames … and oh yea, the algorithm is currently coded in mq4 ONLY
so good luck in getting it on any other charting platforms that are proprietary
… and for the record, “Trading View” supports “pine”, not mq4, so it might be a
while until that computer code is available.
As I said, around Thanksgiving [remember 1 month ago?], LTC was in the
$70’s … today it’s in the $130’s … and it didn’t move just cuz of Bitcoin … plenty
of hard news out there, including a joint venture with Cardano [ADAUSD] … it’s
called a “velvet fork”, and you can learn about it via the YouTube link vid directly
below … about 10 ½ minutes long, but a very good and straightforward
explanation of a “velvet fork” and how it impacts both companies … it’s worth
the watch!
https://www.youtube.com/watch?v=lSF29Q-Uc7s
And while I’m generally happy with Turnkey finally getting crypto pairs, I would
hope the others, ETHUSD [Ethereum], Ripple [XRPUSD], Bitcoin Cash [BCCUSD],
and of course the “King” BTC would have consistently excellent spreads … sadly
they don’t … Ripple & Ethereum the biggest ripoffs, with Bitcoin Cash not far
behind … in other words, most of the time it’s not worth watching them cuz it
doesn’t pay to trade them … too “Hoover Dam'' expensive, and I hope BTC isn’t
joining them … we’ll see, only time will tell … and as we saw with the never
ending bullshit in gold with their overpriced & ridiculous bid/offer spread
robbery, never underestimate the ability of assclowns on Wall Street to get greedy
and ruin a market … certainly could happen to BTC as the price climbs, and then
what? … my guess is options on BTC become the big drivers of price cuz the
price of a single BTC gets way too expensive … just a guess, so we’ll see.
On the other hand LTCUSD these last weeks has remained remarkably consistent
with its spread, generally hovering right around 20 cents … yea, it can get unruly
sometimes when BTC goes “apeshit”, but it comes back from that very quickly
… overall, IMHO it’s the crypto pair to trade with the best value for your trading
dollar, and it gets serious attention from me for the reasons I’ve laid out … “so
BTC, it’s up to you “big dog”! … don’t mess with me or I’ll move in an eyelash
over to LTCUSD & kiss your ass goodbye … not gonna pay the ransom to trade
BTC when I don’t have to”!
Thanks to the bid/offer clusterfark in BTC today, no trades in the Turnkey
PAMM / MAM … no worries, though, cuz if it happens again we’ll be in LTCUSD
… money is money, so let’s get some!
For “The Syndicate” some LP market making over at PHEMEX in LTCUSD, and
we’re up approximately 0.12% trading on very light volumes … other pairs not
nearly as good as LTC, so we “date it”!
I’m outta here … until tomorrow … I’m full steam ahead! … Onward & Upward!!
-vegas
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