With every traditional “market” [cough, bullshit, cough] dead in the water and VIX
being crushed by the usual shit weasel suspects, and more than likely every
brokerage house on Earth dying for more trading revenue cuz it’s collapsing
around them, you’d think a bucket shop like Turnkey would want to be
competitive in crypto … but apparently not … cuz what I see in crypto are not
“liquidity providers” [LP’s], what I see are “market makers” that “game the
spread” for their own advantage over you … and quite frankly it’s a fucking joke
to watch this unfold … “oh hell yes, the spread in ETHUSD at Turnkey is some
times the very best in the world! … sure, WHEN IT’S NOT MOVING! … but let it
move even a little bit UP/DOWN, and that “best spread in the world” turns to
flaming horseshit in the blink of your unbelieving eyes, as the HFT LP’s
“big girl panties” get all bunched up in knots … for sure, they’ll tell you
“DUH, market conditions, DUH!”, but that can be easily proven the heaping
mound of bullshit that it is … what they’re counting on, is that you won’t notice
or care that they’re gaming you.
Producer price inflation up ALMOST 8% YOY, never mind it’s the STRONGEST
ON RECORD, that’s just a minor detail … “Oh yea Spicoli, the FED is on it, right?
… for “Stonks”, who cares? … remember, everything is “transitory”, whether
that means 6 months or 20 years, so stop asking inconvenient questions to
‘Murica’s elite and STFU & BUY MOAR! … WTF is wrong with you”? … remember,
no worries when you’re inside the casino!
And suddenly, the DOW30 can’t find a bid … meanwhile the absolutely frantic
rotation from the 3 indices continues at warp 10 speed … quite frankly, I’ve never
seen this kind of shift in sentiment so quickly among groups, and it makes
whatever index you’re trading very tough to navigate, cuz while others are
dropping/rallying, the one you’re trading does the opposite … SP500 & NDX on
their miniscule highs, DOW30 on or very near its low … until the manipulators
change their mind, but I’m sure I’ll get the email in time to adjust, right? … good
grief, what a clusterfark, all inside tiny ranges … “can we just get one fucking day
where the market gets within 30% of its 20 Day Range MA? … of course not, that
would lead to higher VIX, and we can’t have that … some elitist somewhere might
not like that and call Spicoli and give him some shit … and as we all know, that’s
all that matters to the Lizards at the FED.
And as Europe closes, suddenly the HFT LP at Turnkey for ETHUSD starts making
a “liquidity provider” market … what does that tell you about where they’re located,
and who they’re trying to screw blind? … oh but wait, my bad … ETHUSD hasn’t
gone anywhere really for over an hour+, so just wait, and when it moves, you’ll
see ‘em go for the jugular! … what utter horseshit, and yea I’ve called Turnkey out
on it in an email, which will promptly go into the shredder.
Oh, is FX even open? … oh boy, some more of the same gruel served up hot and
slimy, with ZERO VOLUMES, and more than likely ZERO traders that give a shit
… how about that 24 PIP range today in EURUSD? … man-o-man, they sure have
wrecked FX haven’t they? … all for the endless QE.
I’m not at all happy with the way Turnkey’s crypto LP in ETHUSD handled the
trade today … from the European open, right up to a little after NOON in New
York, all they did was “game the spread” … bring it in to suck people in, and
then on any movement blow it the hell up … 50 cents - $1 and then $5 - $7 on
the mini price bursts … so when you consider that most of the up/down activity
today saw moves of between $30 on the low side to maybe $50 - $60 on the high
side, and then you realize that if you were wrong on the trade, you got at least
$4+ added to your loss … and if you had gains, you saw $4+ stolen from you
by these assholes … so if you consider $45 as the average move, these
assclowns are either sticking you with 10%+ additional loss, or robbing you of
10%+ of your gain … THIS ISN’T WHAT LIQUIDITY PROVIDERS DO!, IT’S WHAT
SCUMBAG MARKET MAKERS LOOKING TO GOUGE A BROKERAGE HOUSE
CLIENT LIST DO! … imagine if you will that you’re trading anything in FX, and
every time EURUSD rallied or went down 30 PIPS, the spread went from
0.1 - 0.2 PIPS out to 4 - 5 PIPS on the move … how long would it take every FX
trader to tell Turnkey to go pound sand? … I’m guessing pretty “Hoover Dam”
quick! … this has nothing to do with “market conditions”, AND EVERYTHING
TO DO WITH PURE GREED! … this is truly disgusting in my book … we’ll see if
this type of bullshit continues these next days and weeks, and if it does, I’ll
simply have to abandon trading ETHUSD for the PAMM.
NO trades today for the TURNKEY PAMM.
Unfortunately, this happens to be a Summer where conditions are shit … no way
to sugarcoat it, they’re terrible … FX a complete joke, and the “Stock Bellies”
being propped up by the manipulators and not allowed to break but for the tiniest
of moves … until of course they back away and SHTF and VIX returns with a
vengeance … that’s been their usual M.O. lately these last months … add another
day of extreme sub par ranges versus the 20 Day Range MA’s, ZERO TRADING
ACTION in the sense of up/down action we need, and all that’s left is drift and
hope, sprinkled with some “speed of light” moves now & then out of nowhere
… the DOW30 isn’t the place to trade for a few index points and you have to hang
onto a position over many minutes, sometimes exceeding an hour or more … you
do that, and they will come get you sure as I’m sitting here writing this … there
simply isn’t anything here to trade … PERIOD … and with what the shit weasel LP
is doing in ETHUSD, I’m not left with anything but wait it out … this too will pass,
and there is ZERO sense in handing money to scumbag LP’s.
For “The Syndicate”, some very early trades out of the European open in ETHUSD,
and we’re UP slightly … not much to the upside today for long trades, and the
market really did need some corrective activity … onto tomorrow.
Outta here … “the future looks so bright, I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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