It would be easy to start with Libtards, especially brain dead ones like “Taliban
Joe”, where anytime he opens his Pie Hole the “gaffe meter” is on alert for new
material … then there are those who pretend to run brokerage houses … I said
only a day or two ago that I didn’t trust Turnkey to keep the then 2 cent spread
in crude oil, and that at the drop of a hat they’ll jack the spread in a heartbeat to
7 or 8 cents, and if you’re unlucky enough to get caught in this “bait & switch”,
there isn’t anything you can do about it except “pay the Piper” when you get out
… and lo & behold, that didn’t take long did it? … BINGO!, BANGO!, BOOM!, and
it’s the “same old, same old” bait & switch bullshit they pull every couple of
months in their CFD’s [most notably oil, but “Stock Bellies” as well], trying to
entice people to come trade “competitive” products the other houses have
day-in-day-out … I have no idea where this latest iteration produced fills in oil
… more than likely 3 cents on either side of the phantom spread, and that
produces Turnkey’s answer to a “competitive” CFD oil product with an effective
spread of 8 cents … you know, while the rest of the world is at 3 cents or a
couple of tenths of a penny lower around 2.7 or 2.8 cents … ah yes, you can’t fix
stupid! … and so here we are, back to square one with these Morons, who can’t
seem to figure out that lower spreads means more business, and higher trading
revenues … OR … you can take the Turnkey approach and jack spreads to the
moon, GET ZERO BUSINESS, and be happy with that … again, you can’t fix
stupid!
It’s FED DAY! … Hooray, the Lounge Lizards take center stage today at 2 PM EST,
and as sure as I’m sitting here, their logic in raising rates into a
recession / depression will astound those past the first grade … a word of
advice … don’t let any of your kids under the age of 40 listen to Spicoli’s presser,
cuz it could hurt developmental brain growth … just eat the propaganda, OK?
Which brings me to USDJPY, pretending today to give a shit before FED Pie
Holes make mince meat out of “Peter Pan” Kuroda of the BOJ, who desperately
needs Spicoli to cut the BOJ some slack and go “dovish” to halt the landslide of a
depreciating Yen [higher USDJPY] even more … and so, USDJPY going into the
New York session, with an abysmal 41 PIP range [here a few minutes before the
NYSE criminal open], and quite frankly I’m surprised it’s that high … EURUSD not
acting any better, and when you look at these 2 major dollar pairs, on any given
day it’s a case of which horse at the glue factory looks better … then there’s
Cable [GBPUSD], which looks so sick on the daily & weekly candle charts, it could
lead one to wonder what date it hits frickin’ ZERO … there hasn’t been even a
whisper of anything positive in terms of trading action since February, and in
case you haven’t been keeping up, it’s frickin’ MAY! … I’m sure some day things
will turn around [bwahaha, chuckle, snicker!], I’m just not sure which decade.
The case of Cable brings me to the trading algorithm … [best scalper / day
trading algorithm you’re ever gonna get for FREE that actually works!!] … and
while it would be nice if the entire world treated people the same, and you could
trade wherever you wanted to [it’s called financial freedom, a concept lost in the
quasi police state of the “U.S. of China”], it’s simply not a reality … right at the
head of the class, U.S. citizens & residents are given “Leper Status” and shunned
by about 90%+ of the world’s brokerage houses … my point here, though, is to
point out that there are many people who trade many instruments, from FX to gold
& silver, to the DAX40 & FTSE100, to the “Stock Bellies” in the U.S., and do so with
decent and CONSISTENT spreads … they aren’t bound by the utter horseshit fed
by joints like Turnkey … and to those people, I say WELCOME!, cuz the trading
algorithm can be used in any market that doesn’t have EXTREMELY LOW VIX
… of course, the higher the VIX, the greater the algorithm models price behavior
and allows you to capture profit on your trades, and the opposite is also in effect
… the lower the VIX from “normal” [whatever that is anymore], the more “false
positive” trades you’re going to experience … eventually you get to a point of
extremely low VIX, where everything is a ‘coin flip” … in FX, my general
conclusion for pretty much any pair is the 50 PIP level for a daily range … get
under that and the probability of “scumbaggery & fuckery” by scumbag LP
banks via slippage and off market fills becomes greater and more frequent … and
it’s why I place such importance on the 20 Day Range MA each Sunday in the
blog update for selected pairs.
I don’t have a problem per se with GBPUSD as a trading vehicle … I have a
problem with GBPUSD at Turnkey, where in the past I’ve experienced slippage in
excess of 2 PIPS on fills … most of the time it’s in the slightly over 1 PIP area,
which is bullshit, and when you factor that into the cost equation, it means an
effective spread of about 2.7 - 2.8 PIPS on every trade, which simply sucks and
isn’t competitive within the marketplace … for a scalper, paying approximately
1.5 PIPS MOAR! on every trade is unacceptable, and will rob you blind.
And right along with that is the “Scalping / Day Trading VIX Ratio [SDTVR] I’ve
developed and explain fully in the trading manual, and has been explained briefly
in previous blog posts … we’re looking for ratios above 2.0 or very close to that
as ideal markets for trading … combine the 2, and you know pretty quickly if
you’re in the right pair to achieve optimal profits … get below 1.5 on the ratio, or
heaven forbid below 1.0, and it’s time to say “Adios” to that market … and for the
sake of comparison, lately WTI Crude Oil [with a 3 cent spread, no commissions,
at SIMPLE FX, a NO KYC brokerage house I recommend] has been seeing SDTVR
of > 4+ : 1, with many days over 5+ : 1 … quite frankly, it’s tough to beat that
consistently, and it’s why the Mrs. now trades crude oil, having left BTC cuz of
low VIX, switched to the “Spoos”, and in February switched again to crude oil,
where she has stayed put with glee.
I’m also gonna mention, that “XBTFX” … [ https://xbtfx.io/ ] is another NO KYC
brokerage house I would recommend for traders, if you don’t already have a
house you’re trading at and are happy with, and want to effectively use the
trading algorithm … their effective crude oil cost to trade is 2.0 cent bid/offer
spread + RT commission of $7 per 1 lot, making their total cost right at 2.7 cents
… not much difference in the scheme of things between 2.7 & 3, unless you’re
throwing around some big crude trades, cuz the difference will be pennies … their
gold [XAUUSD] trade looks the best IMHO, coming in around 25 cents OR LOWER
for total cost, and if you’re interested, their XAUEUR trade IS THE BEST LOWEST
COST I’VE SEEN OUT THERE … again, if you’re interested in that … that’s lower
than SIMPLE FX, and quite a bit lower than Turnkey on a good day, in XAUUSD
… for FX, everybody is pretty much in the same ballpark when looking at “total
cost”, so here you’re splitting hairs … Turnkey loves to quote phantom bullshit
spreads that look great on paper, but the reality is they’re loaded to the gills with
slippage on almost every “Hoover Dam” fill … take that into consideration and
things even out quickly versus other houses … in world “Stock Bellies” indices,
about the same between SIMPLE FX and XBTFX, which are as good as it gets in
terms of LOW COST, and light years ahead of Turnkey, who never saw slippage
they didn’t like, and then sit there with their frickin’ hand out waiting for the
“kickback” from the scumbag bank LP or HFT they shove orders to … for us as
traders, the schematics don’t matter much in FX, cuz it’s all gonna be very
close no matter where you’re at or come Hell or high water … however, it’s
always nice to know the “who & what” you’re dealing with when trading.
The criminal NYSE open just a few minutes away, and once the stealing & money
laundering are over within about half an hour, things will go quiet quickly to FED
Stupidity at 2 PM EST … USDJPY and the other FX pairs just drifting in FX sewage,
with position squaring and most likely some very, very light flows the banks are
screwing via their front running operations with their “unofficial” official offshore
accounts they control, and that’s providing almost all movement at the moment
… cuz no matter what the “deal” is, POLS, Apparatchiks, & regulators got to get
their “skim” or SHTF for the banks! … “the “big guy” wants his 10% cut”!
Welp!, that escalated quickly didn’t it? … oh wait, that was crude oil rallying $2 in
80 minutes, giving off 3 buy signals BEFORE THE FED … everything else waiting
for FED D-Day … not oil, cuz the dirty little secret is, you can’t use the CNTRL-P
machine to produce or deliver a barrel of crude oil … so sorry FED manipulators!
FED did as expected in their policy statement, thus throwing the BOJ a brief lifeline
for a slightly higher YEN … no uber hawkishness, but Spicoli’s presser is still
ahead, so don’t discount the fact he puts his foot in his mouth … we’ll see … oil
could care less … and we waited half the week for this shitshow circus crock of
nothingness? … the 10 YR Treasury is barely moving, having yawned at the
whole process … meanwhile, “Stock Bellies” aren’t that impressed either … now
what FED?
Spicoli speaking now at his presser … what a crock of lying shit … how do these
assholes sleep at night? … LIE, LIE, & LIE some more … fucking middle ‘Murica
since 1913! … does anybody actually believe this Elitist Lounge Lizard? … and
there he goes, throwing some “dove bones” to the ECB & the BOJ in his presser
… shorts trapped in EURUSD & longs trapped in USDJPY .. and the banks win
again! … and I for one am not stepping into this end of day horseshit of spec stop
losses … we got a spectacular algorithm buy signal in EURUSD right before it
took off to the upside, but again trading late New York afternoons on news isn’t
something I EVER do … I’ll pick it up in the Asian session and take it from there
… looks to me like EUR might be a better trade tomorrow . . we’ll see … this day
is over.
… outta here … “The future’s so bright I need sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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