As we move into today’s trading markets, the m1 charts in everything are eerily
similar, as each follows others … possibly with the exception of crude oil, which
beats to a different drumbeat cuz it’s an actual physical commodity instead of a
financialized, cash settled piece of FED manipulative shit run by a group of virus
scum banks, the common element driving it all right now are interest rates,
specifically the 10 YR. Treasury Note rate, which is stubbornly hugging the
2.90’s % area … and it’s putting a lid on just about every market … gold seemed
for a while to be somewhat immune, but over the last few days as it got rejected
up at the 2K level, and rates started climbing again, the bullion banks began to
sell, the long spec position holders started getting stopped out, and the complex
has steamrolled lower in fits lower that last only a few minutes, indicating sell
stops, and then hour after hour of sideways “Loser Formation” bullshit, that gold
is famous for that frustrates the shit out of just about everybody but the scumbag
banks.
I’ve said many times in the past here on the blog, if you can get reasonable to good
bid / offer spread, the market to trade is WTI Crude Oil … and lo & behold the last
few days, Turnkey’s scumbag HFT that plays LP [but is really a MM], has lowered its
spread in WTI oil to 3 cents, same as Simple FX … well now, ain’t that interesting?
… amazing what ZERO TRADING BUSINESS does to a bunch of fucking crooks &
thieves, who think all of us specs are complete dumb fucks, plus the fact that
they’re running an operation with ZERO REVENUE when the spread is outrageous
[5 cents+]… I can almost hear the management meeting where whoever it is calling
the shots informs the trading desk to LOWER SPREADS SO WE CAN GET SOME
BUSINESS! … proving once again what I’ve said about these sub human creatures,
that it’s only money they listen to, nothing else … and when they don’t get it they
respond so they can get it … amazing.
But here’s the rub … crude has CONSISTENT VIX ALL THROUGHOUT THE DAY ON
MOST DAYS … so whether you trade it in the Asian, European, or New York
sessions, the average m1 range is gonna be most likely around 11 - 18 cents … with
a spread of 3 cents, that’s a ratio of about 4X - 6X, which is a light year ahead of
gold … add in the 20 Day Range MA over at Simple FX at about $6, and my only
question for you is, “WTF do you want?” … Turnkey is lower cuz they use a
different formula to calculate their oil CFD … I’d share it, but even they don’t know
what it is exactly from their supposed “top tier” LP … STFU & trade Peon!, what
difference does it make in how it’s formulated?, is basically their response.
I bring all of this up, cuz while I would love to simply trade gold and leave the rest
of the shit pairs alone, given the trade dynamics I’ve outlined, we could be sitting
a good long while, waiting to “not be screwed” in gold … I don’t give money away!,
and with the gold LP jackals they use, that seems to be the only thing they are
interested in … of course, the crude spread could change dramatically come next
week for no reason other than pure greed … I’ll trade crude via the trading algorithm
if we are treated fairly, but asking for that at Turnkey is a hefty proposition … maybe
they keep the spread there, maybe it goes back out to ridiculous levels … if it goes
back out, I won’t trade it, simple as that, but to ignore crude when conditions are
decent to excellent is to turn your back on making some coin … conditions in gold
are bad enough to the point where I can’t overlook a pair like crude, which
outshines anything being traded … so, I’ll be giving crude a “look see” come
Monday, and “IF” the spread behaves, more than likely I will trade it cuz crude
gives plenty of signals over the course of the day, many more than gold
… however, everybody knows Turnkey and their ability to FUBAR just about any
market, so it’s not a given … we’ll see.
Fact of the matter is, gold doesn’t even “trade” anymore … it “lurches” to
somewhere on large m1 spikes from Hell, and then dies for hours in ranges that
are horrifically tiny, only to lurch again at the speed of light to somewhere when
the scumbag bullion banks sense lopsided order flow and then fade it for profit as
stops get hit off … and if you buy gold when the m1 starts to spike green, your fill
is gonna get raped on a mystery tick offer … even with somewhat larger ranges,
this kind of action is still prevalent, and it’s bullshit.
The problem with crude from a futures perspective [even the crude micro mini at
100 bls. per 1 contract], is that there really aren’t any good alternatives offshore
for brokerage houses, and you’re stuck trading futures in the U.S., the last place
you wanna be cuz of 1099 reporting of everything to the police state, a/k/a the IRS
… Europe doesn’t trade futures cuz they are taxed, while CFD’s aren’t … CFD’s are
considered the same as gambling bets and there isn’t any tax on those … while the
CME via NYMEX has crude with a 1 penny spread, most of the time now it’s 2 cents
between the bid / offer … so a 3 cent spread is fine given the VIX and the huge size
of the ranges … ranges could come in over 50% and it would still be preferable to
the horseshit offered in gold … an almost $30 range today in gold, and it’s nothing
but bat shit crazy [BSC] up/down in a matter of a few minutes, followed by
“nothingness”, until next time … VIX from the m1’s so inconsistent and unstable,
the algorithm can’t react fast enough to the “second by second” changes in VIX
… it’s frickin’ impossible … meanwhile crude trades along a consistent VIX path
the entire day … do the math Skippy … 1 cent “vig” in a market that moves, at a
NO KYC brokerage house offshore? … what’s not to like?
Over in crypto, I literally don’t know what the Hell has happened to BTC … one
second it trades like crude, the next for hours on end it’s corn spreads in winter
… unreal … more on BTC next week.
What you simply have to realize is the entire “casino” is structured for bank gain
and spec loss … why do you think they let anybody with a pulse open an account
with very little money? … and so, in order to win, you have to be cognizant of the
structure they’re offering you, and what levels of VIX you’re operating at, cuz high
VIX and low VIX ain’t the same animal … and then you have to know how the
market moves relative to the spread + slippage + commissions that have to be
covered before any profit … and the longer that takes, the more disadvantageous
it is to you and in their profit benefit … a good example of this lately is USDJPY,
and Turnkey’s thieving market makers as Yen has exploded lower … a few months
ago when the 20 Day Range MA was about 60 PIPS the spread in USDJPY was 0 or
0.1 PIPS … now the 20 Day Range MA is over 100 PIPS … the spread has blown
out to around 0.8 PIPS and sometimes exceeds 1 PIP … this is bullshit and not
warranted by trading conditions, but by the thieving banks not allowing you to
trade the market and scalp cuz they don’t want to fil you on a scalp that they lose
money from … simple as that .. . and when I saw this, that was it for me even
looking at USDJPY any longer as a trading vehicle … the scumbag LP changes
the “structure” of the trading for its benefit at your loss … screw that, move on
… it seems to be a recurrent theme in financial products, whereas crude is a
physical commodity and is treated differently … but up until this week, not at
Turnkey, where they held out hope you wouldn’t notice getting screwed blind
by a bullshit spread … again,, their profit, your loss … and so far this week,
gold has been a complete disaster on several fronts … 1) unstable spread,
2) horrible slippage given trading conditions, and last but certainly not least
3) inconsistent VIX over the M1’s throughout the day … really bad, and I mean
REALLY F-ING BAD! … so, we’ll see what next week brings.
No trades today in anything, as the algorithm simply could never sync well enough
with changing M1 VIX to give us viable signals in gold … trust me, the scumbag
bullion dealer banks know what they’re doing, and manipulating VIX is their top
priority cuz they know it almost guarantees profits … as for BTC, I’m beginning to
think the ”whales” are doing the same thing to this market.
Blog update on Sunday … outta here … “The future’s so bright I need
sunglasses”!! 😎😎 … Onward & Upward!!
-vegas
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