You simply can’t believe how many times I had to put eyeballs back into my
head yesterday after they popped out! … dealing with Turnkey has a way of
doing that … purple was not an attitude option yesterday, cuz we were way past
red & purple on the “pissed off” meter … I’m OK today, though, cuz I had a good
therapy session yesterday afternoon with Lime & Corona, and it’s amazing how
Vitamin C is so therapeutic! … I can’t wait to get the good laugh after Turnkey
responds back to me with the results of their “investigation” … that would entail
asking the LP if everything was OK and did I get ripped off, which of course is
like asking the fox if any chickens got hurt in the henhouse last night
… “Nope, everything is fine”! … screw ‘em. [And yup, that’s exactly their
response … “the LP says everything is good! … oh, I bet they do”!]
Now, I wanna make something crystal clear here … there are good offshore
houses for trading traditional markets, where fills are instantaneous, round turn
commissions are very low or non existent, the bid / offer spreads are excellent,
there is NO SLIPPAGE, you can deposit / withdraw in dozens of crypto coins, and
there is NO KYC … the Mrs. loves Simple FX, although their crypto offerings are
a joke … but, they are excellent for the “Stock Bellies” and crude oil, and above
average for FX if that’s your thing and can’t pull yourself away from it.
CPI numbers are out … who needs food & energy? … highly overrated in living
any kind of life, right? … that’s what the Gubermint says! … only 7% annualized,
what a deal what a deal … and if you’ve shopped for food lately, that 7% is a
fucking joke! … but no worries, “Taliban Joe” is on the case, destined to make
it far worse before anything gets any better … count on it!
New ATH coming up in the “Spoos”, cuz inflation only met expectations of 7%
and isn’t 35% [yet] like Venezuela, so it’s full speed ahead to record highs … the
“Plunge Protection Team” [PPT] will make sure of it later today and into
tomorrow … and looking at BTC & ETH, they’re a fucking mess … as we now
know, “forced liquidations” in both rule the roost, and expect vicious m1 spikes
[up & down] followed by nothing … and sure enough, that’s what the day shows
on the charts … this is an extremely sad turn of events. Meanwhile, some of the
alt-coins, like ADAUSD [Cardano] are trading well and haven’t missed a beat.
Here are the things I won’t step in front of when trading … 1) FED interest rate
meeting decisions, 2) NFP report, and 3) inflation numbers [CPI & PPI] … the
reason is simple … they greatly influence “risk on / risk off” [RORO], and the
scumbag banks or HFT LP’s rip traders off every time they come out … just look
at today’s CPI print … and yes, it affects crypto every bit as much as it does the
other markets on the MT4 / MT5 … post CPI print, here’s the m1 for ETHUSD
directly below.
Now here’s the same time period for ADAUSD … it’s like corn spreads versus pork
bellies, the difference is striking! … while one can barely move $10 [ETH], the
other has a grid of 50 ticks [ADAUSD].
The ETH m1 has about a $6 grid, and the ADA m1 has about a 50 tick grid, where
1 tick = $0.0001 … ADA trades to 4 decimal places, and even if you had to do 2
market orders and pay the “vig”, it would only come to 0.0008, and as you can
see, it clearly does that and a whole helluva lot more! … ETH has a cost of about
$2, but if it moves it will be higher … and as you can see, market moves $10, and
you gotta give up at least 20% of that to the LP … where the hell is the old ETH,
that would go up $100, then go down $150, before ripping higher $200? … instead,
we got this shit of miniscule moves, and compared to an alt-coin like Cardano,
it’s now slow as molasses in January!
It’s called “forced liquidations” that are now much tighter than they were pre new
year … and that leads to “bigly & yuge” spikes [up & down] that screw specs and
force them out of positions, regardless the size of your account … you could
have $100K in your account and trade 0.01 ETH worth about $33 … ETH goes
down more than about $50, you’re gonna see that position get liquidated! … this
is a huge advantage for “whales” and large LP’s [one and the same most often],
and a great disadvantage for specs … how many days / weeks before specs
notice what is being done to them by the “open order book” [OOB] platform
crypto industry?
So not only are the 2 top dogs of BTC & ETH seeing ranges coming down faster
than Biden’s poll numbers, they are now trading vastly different than they did
prior to the new year cuz of these new “forced liquidations” becoming extremely
tight among the major crypto houses … for example, prior to the new year,
PHEMEX had forced liquidations in BTC perpetual futures over $1,000 away
from your position … now it’s $210 … take a look at any m1 chart, and ask
yourself how easy it is for BTC to go $210 against you? … trade this shit, and I
hope you like forced liquidations cuz you’re gonna get plenty of ‘em! … in
addition, what can easily happen is that one set of liquidations run into another
cluster and the market cascades like an avalanche until it’s done … and what
really kills specs is when they force you out of a long [for example], and then
literally 1 second later it’s $400 higher as the “whales” bid the shit out of it to
not only screw you, but to force the shorts out now … spike down, spike up
… they win you lose … from their perspective, that’s the way things should be!
Turning to traditional markets, and while I have no incidences of “scumbaggery &
fuckery” at Turnkey with their LP’s in crude oil, for all other markets I can’t
recommend trading here simply cuz they have dishonest & thieving LP’s, who
will use any and all circumstances to rip your order as wide as they can away
from whatever market you’re trading, and then tell you everything is fine
… occasionally you might get an OK fill, but they will take it back later plus
interest! … yesterday, while I got ripped blind in the DOW30, the Mrs. traded the
algo signal at Simple FX and made money … most days, and yesterday was no
exception, the DOW30 at Turnkey versus Simple FX is only 1 - 2 points different
in bid / offer at 2 index points … OK, taking that into consideration, consider the
following … how does she make money with ZERO SLIPPAGE, AND I GET OVER
50 INDEX POINTS WORTH, when we are fractions of a second apart in pushing
the buy / sell buttons? … I’ll give you the answer … it’s called “scumbaggery &
fuckery” with fills, and she gets latency under 100ms and I get 1 ½ - 2 SECONDS!
… just enough time to make sure I get the highest possible “offer” buy and
then the lowest possible “bid” sell … ain’t falling for this bullshit again!
And while Turnkey either doesn’t know or won’t say, nobody really knows how
their LP in crude oil determines the quote … my best guess is it’s an average of
the front 2 futures contracts … Simple FX is simply front month oil, and that
3 cent spread is “rock solid” with no commissions … so while Turnkey plays
games with oil and messes with the spread quite often, “jacking” it at their
“whim” whenever the “greed” emotion comes over ‘em, Simple FX is always at
3 cents from what I’ve seen … and no, they don’t host a PAMM.
We’re now into the New York afternoon approaching 1 PM EST … take away the
bullshit first minute of thieving, stealing, and watching spreads blow out cuz of
the CPI number, we now got 5+ hours in ETH with a “whopping” $54 range from
the tips, and a lot less than that for most of that time … WTF am I supposed to
do with this, having to deal with a $2+ spread that WILL blow out some and the
range is a measly, scant, disastrous 50 bucks? … and I’m pretty sure, this will be
another day of extreme subpar daily range in ETH, and that come the end of the
week we’re looking at another drop in that value.
And at the end of the day, all we got is a handful [or less] of M1 spikes from hell
[up / down], thank you very much “whales” and the now FUBAR “forced
liquidations” of spec positions they are now targeting and “running” with
impunity, and most likely laughing themselves silly at the dumb fucks who got
no idea what is happening … so what's gonna move this shit any more besides
“whales” screwing specs out of the blue at a whim? … dunno, cuz it ain’t the
same market it was pre new year, I guarantee you that!
No trades today for the Turnkey PAMM … I was ready at the helm in ETH, but we
simply had an extremely pathetic range post CPI today with no direction but
“chop chop” … we’ll see what happens tomorrow … hopefully it’s better … this is
bullshit, but there isn’t anything I nor you can do about it except wait for better
conditions … it remains to be seen if Lite Coin [LTCUSD] is going to be affected
by this, but I haven’t seen any evidence of it, so LTC becomes a viable PAMM
trading vehicle as well, cuz under most conditions it’s as competitive or better
than the OOB platforms … so, if ETH goes full retard basket of kittens on meth,
and simply becomes untradeable, LTC will fit in quiet nicely … so, we’ll see.
Over in alt-coin crypto land, I didn’t have any trades today for “The Syndicate”,
simply cuz 1) I want no part of this new “paradigm” horseshit in ETH or BTC on
an “open order book” platform, where “forced liquidations” are now “THE”
primary force of market movements, and 2) I am carefully watching and
analyzing ADAUSD [Cardano] for a day or two to get the “lay of the trading land”
so to speak, before I start trading it for real … it’s picking up volume and its 20
Day Ragne is going to expand come the end of the week … this is one of the
alt-coins that will benefit from the bullshit that is happening in BTC & ETH,
especially as traders figure out they’re getting hosed and start to look for
greener trading pastures in other alt-coins that aren’t affected much by “forced
liquidations'' like the 2 big dogs. “The Syndicate” will be up and running again
very soon.
… outta here … “The future’s so bright I need sunglasses”!! 😎
… Onward & Upward!
-vegas
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