Well, the obvious answer is NEVER, as long as 1) scumbag banks and/or HFT’s
are in the middle of every frickin’ trade, AND equally important 2) the POLS,
Apparatchiks, & regulators continue to get their weekly allotted “skim” from said
banks / HFT’s to look the other way and see, hear, & know NOTHING … “Oh, is
there a problem? … I don’t see any problems … now STFU and go away”!
In traditional, completely manipulated pretend “markets” [cough, bullshit, cough],
trading has evolved to the point over the last 20 years since the inception of
electronic markets, where bid/offer spreads are pretty tight and don’t move
much, simply cuz there’s too much competition … and in these Ponzi schemes,
the stealing emanates from SLIPPAGE on fills, especially in CFD’s … if you’re
dumb enough to trade inside the “U.S. of China”, you have my sympathies, but
you also deserve what you get … outside of the U.S. it’s a completely different
story, and most countries don’t tax gains from CFD’s, cuz they are considered
gambling bets with an offsetting party like a bank or HFT … it’s a one-to-one bet
on market direction … for the most part, CFD spreads most places are a complete
ripoff, and even if they are competitive with futures, here comes the slippage
Skippy! … if you haven’t noticed already, wake the hell up & smell the coffee,
and notice most offshore brokerage houses NOW are either NO KYC, and all
deposits / withdrawals are done in various crypto, AND/OR they are located &
legally domiciled in jurisdictions that are 1) tax havens, 2) extremely friendly
towards financial companies, and 3) make “Hoover Dam” near impossible to
sue if anything goes wrong … granted, there are still houses in highly regulated
jurisdictions like the E.U., Australia & New Zealand, but they are a dying breed
… in other words, they are finding it harder and harder to compete for business
and grow their business model.
So when they rip you off and steal a few bucks from your account, whaddaya
gonna do, sue ‘em? … bwahahaha, good luck with that! … all require arbitration
first and that’s time consuming and VERY EXPENSIVE … and after that, when
you lose, if you want to then sue, ALL OF THESE JURISDICTIONS REQUIRE
CASH BONDS, usually anywhere from $50,000 - $100,000 right up front, in case
you lose cuz you then have to pay who you sued their attorneys fees … you
somehow think the scumbag banks and/or HFT’s that are LP’s don’t know this?
… thus, they ain’t very worried about your “huffing & puffing” being pissed off
at them … gonna switch offshore houses? … OK, odds are very high wherever
you go to will have the exact same group of thieves as LP’s, so what have you
accomplished? … and of course, nothing will ever be done about this, cuz when
the bank or HFT skims your account with slippage, the usual suspects get
their cut.
Then there’s crypto, where “whales” manipulate the markets to profit, and thus
increase VIX, which benefits us highly! … let ‘em manipulate! … here, you have
“open order book” [OOB] platforms that directly compete with proprietary &
metatrader platforms that use LP’s … the OOB platforms have razor thin
spreads but high commissions, and usually the LP platforms have razor thin
commissions and spreads that are ridiculous … then there’s the houses like
Turnkey that use variable spreads, trying to convince you that gives you the
best possible price … “right, and your check is in the mail”! … directly below
from earlier today, first the M1 chart of ETHUSD at Turnkey, with the
“Spread Indicator” in red … then 2 examples of “sandbagging” some unlucky
schmuck in their system as offers skyrocketed to fill a buy order, then
immediately receded back.
As you can see, for over 2 hours not much going on in ETH … market is in a
rather dull range … the “tick order boxes” show times under a minute … in the
2 examples from above, how many instances of “scumbaggery” do you see,
where the offer from the LP “JUMPS, as the bid remains near constant”?
… ANSWER: “too “Hoover Dam” many! … and there’s the stealing on the crypto
side of things … I’ve already asked Turnkey if they benefit from this “theft”, and
get a part of the stolen spread … they refuse to entertain the question and will
not answer “yes” or “NO” … OK, then I can assume you get part of the skim by
your non answer answer … if you don’t do it, why wouldn’t you simply say
“NO” we don’t do that?
All this in under 2 minutes, so you can see over many brokerage houses, for the
entire day, doing gazillions of trades, when they steal $0.10 - $2 from you, they’re
stealing MILLIONS PER DAY from the trading system … and my question to
Turnkey is simple … “why would you allow your client base to get robbed, unless
you’re getting part of it? … is the HFT paying you big bucks for order flow
information, like we found out that Robinhood was getting from Citadel? … again
no entertaining the question … so, I can only assume my orders are being
monitored by an HFT and analyzed by them … thanks Turnkey”! … any bets they
respond at all to my email raising these concerns?
I bring all of this up cuz it’s what all of us have to fight each day with these
assholes … analyzing markets is no longer sufficient by itself to make money any
more … you have to fight “tooth & nail” with scumbag LP’s hellbent on robbing
you, right along with a complicit brokerage house that could fucking care less if
they steal money from you, cuz more than likely they’re getting a piece of it … and
the tighter and more rangebound any of these so called markets get, the worse
the problem becomes with these assclowns cuz they’re starving for revenue!
… and when they starve, WE PAY, don’t frickin’ kid yourself!
There’s another dimension to all of this as well, and that’s when you trade using
LP’s, in ANY MARKET, they aren’t gonna allow you to scalp and pick them off on
tiny price changes over the course of the day … the spread + SLIPPAGE pretty
much guarantees you’re the one who’s gonna get scalped … gold, FX crosses,
& “Stock Bellies” being perfect examples of LP scumbaggery in this respect
… the slippage can be “eye watering” to say the least … it doesn’t matter what
your screen shows … that’s all bullshit bid/offer illusion at its finest! … yes, the
real market is somewhat close, but you aren’t going to get it, and you can
B.I. Itch all you want but it isn’t gonna change anything … and if you’re in crypto,
like ETHUSD @ Turnkey, you can be up $2 - $3 on a trade, and then go liquidate
where it’s showing a spread of [for example $0.70], and when you get your fill
you lost money on the trade as the spread jumped to $3.50 right as your order hit,
and then came back immediately to around $1 … feel gamed? … and their SOP
response will be, “DUH!, market conditions, DUH!” and now STFU & get back to
giving us more revenue! … meanwhile, if you look over on any of the OOB
platforms, there’s 500 - 1000 ETHUSD OFFERED AND BID WITHIN A DOLLAR OF
THE LAST PRICE, EACH & EVERY MILLISECOND OF THE DAY … and this is
literally the horseshit they throw at you with a straight face! … some days, I
wonder how they stay in business.
This is the main reason I formed “The Syndicate” back in late November 2020
… family, close friends, and some from the internet, where we can get “fair &
honest” markets [all under the NO KYC umbrella] and trade them accordingly
and make money, without the utter pile of horseshit given by LP’s, as they steal
their way to fortunes … but the problem here, is that at this time there is no
mechanism for managed money in crypto OR at any house for managing money
with NO KYC … sooner or later there most likely will be, but for now it doesn’t
exist … I’ve been searching diligently for solutions to this problem, but haven’t
found any that are 1) cost effective, and 2) can be easily implemented … I’ll keep
searching.
Friday the 13th in August … how fitting … nothing moving anywhere except in
crypto, where the Chuckleheads in the Asian session partied like it’s New Year’s
Eve 1999, and after yesterday’s “Thelma & Louise” in ETH, came in and blistered
it straight up $260+ … then they left for the casinos, Europe opened, I hit my
screen, and it’s been a bucket of shit since … of course it has, why do anything
In Europe? … and here we sit waiting for the shit weasels of Wall Street to show
up … can’t hardly wait.
Another scam opening at the NYSE, whose only function is to completely scam
the Chipmunks who feed during the first 5 - 10 minutes of trading, and do all of
their buying for the day at that time … Consumer Confidence plunges to the
LOWEST IN 10 YEARS! … so what? … STFU & BUY MOAR!, cuz it just means
more FREE money from da Gubermint … everything going according to plan for
Preezy Idiot Boy & his “Manchurian Candidate” VP, where if you wanted to ruin
the country you couldn’t do a better job than these 2 hapless Dopes … and for
“Stonks”? … hell, the Yellowstone super volcano could blow threatening the
entire planet, and the DOW30 would rally on hopes for more Gubermint stimulus
and lower interest rates … this is how utterly FUBAR “Stock Bellies” have
become.
Noon in New York, and simply unreal reaction in the “Stock Bellies” with more
terrible economic news, this time Consumer Confidence the lowest since 2011
… “nice job JoeMala, keep up the good work of destroying the country”! … but
you wouldn’t know it from looking at a DOW30 chart, cuz nobody cares … with a
range of 122 index points, and nobody interested in selling [yet], it appears we’re
headed for another completely useless trading day, inside a completely useless
month … and ETHUSD isn’t helping, not cuz it isn’t moving , but cuz Turnkey’s
“market maker” refuses to play fairly & honestly, and instead "games the spread"
at every opportunity, thus adding 10%+ to losers, and then taking 10%+ from
your winners, and that’s not even accounting for slippage! … what a joke, and
can’t trade it if they won’t play ball, and they give no indication of wanting to play.
And as central banks destroy VIX, a complacency sets into “Stock Bellies” that is
truly unbelievable, that literally nothing can go wrong, the FED has got our back,
and “Stonks” can never go down again EVAHHHHHH!, and so everybody can
ignore whatever is happening … CNTRL-P FOREVER, and never let the machine
stop going “Brrrrrrr” for even one second … debt, deficits? … who cares, print
more, and when is my next Stimmy check? … and so here we are, where no index
can go down for longer than about 10 minutes, and then it simply crawls higher
with very little if any trading activity … day after day without end … only, when it
ends, everybody and their brother hits the exit gate at the same time and we have
ourselves a bloodbath … this next time won’t be any different.
In the real world of ETHUSD trading, meaning simply NOT at Turnkey, a rather
strange day … the Chuckleheads go wild and send it up $260+ … now into the
10th hour of chop, where from the tips we’ve only seen a tiny “Flying Wedge of
Death” [FWD] of about $35 - $45 … “seriously, do I have to move to frickin’
Thailand or something to capture real trading action without being a
“pajama trader” or a meth addict? … Europe gets worse by the week, and the
U.S. is simply FUBAR”! … for “The Syndicate”, it was Mr. Slim Pickens most of
the day with some seriously sloppy action … still, a couple of trades has us UP
APPROXIMATELY 0.21%, so not a great day but OK … we just keep grinding our
way to “Millionairehood” for the participants.
No trades today for the TURNKEY PAMM.
If the DOW30 or DAX30 would ever break and/or frickin’ move, we’d get some
trades … it’s simply doing NEITHER! … so I sit patiently and wait, cuz this too
shall pass … I can’t make this shit move folks … wish I could but I can’t, and it
does nobody any good to hand over money to LP’s and get chopped … and as I
said before, ETHUSD isn’t helping us cuz the “market maker” won’t make a legit
market.
We’ve reached that point where we’re about 90 minutes to the close of the NYSE,
and I want nothing to do with the last 90 minutes … wow, what a bucket of dog
poo, the SP500 with a 10 index point range for cryin’ out loud … simply unreal
… onto next week.
Blog update on Sunday … I’m outta here … “the future looks so bright, I need
sunglasses”! 😎… Onward & Upward!!
-vegas
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