Depending on where you trade USDCNH, and where their servers are located, if
you trade at IQCENT their day begins and ends at 8 PM EST … yesterday saw
that daily range of just a hair under 500 PIPS for 8/8/2023 ... IMHO it trades better
than Bitcoin! … I didn’t say it has better “trading conditions”, I said it trades
better … purer moves, and a more consistent daily range above 300+ PIPS … it’s
not gonna be like on one day you got a 400 PIP range, and the next it’s 75 PIPS
… that kind of shit only happens with the European pairs and USDJPY … in many
ways, the correlations of current day USDCNH and 30 - 40 years ago pit traded
futures in Swiss Franc are unbelievably very close … it simply moves and
doesn’t fuck around, and you’ll find coming from trading other FX that the
number of 30 - 40+ PIP moves are many times higher than what you’re used to,
AND it doesn’t take multiple hours to get them! … just one Helluva great pair to
trade IMHO [if the spread is right]!
And it’s not like you’re trading some minor pair nobody has any interest in … this
is by far the fastest growing FX pair on the planet, and in April of 2022 it was the
5th most heavily traded … I got no idea where it is now in terms of FX ranking,
but I’d bet it’s higher and gaining rapidly on the 3 front runner major pairs … and
let’s be honest here, China if it isn’t already will have the largest economy in the
world bypassing the U.S. Banana Republic … it’s the major goods manufacturer in
the supply chain, and I don’t see the world giving up on goods! … and of course,
the state run PBOC banks run the show, but keep in mind they’re superior
capitalists to the Clowns on Wall Street and at the FED … and what happens to
trading activity when USDCNH is gold backed? … what then? … it’s coming.
Meanwhile, over in the fantasy land of brokerage house Dickheads, the question
becomes, “who you gonna believe, your lyin’ eyes or more lies from people who
wouldn’t know the truth if it bit them in the ass?” … I must be gettin’ under
somebody’s skin that matters cuz out-of-the-blue I find myself on a 3-way call late
yesterday afternoon with people who say they’re concerned about the “quality &
care” of the brokerage house experience … well now, ain’t that special?
… cutting to the chase, can you believe anything they say? … I told ‘em I don’t!
… cuz if you’re gonna say it, THEN MAKE IT SO on my screen! … how frickin’
hard is that? … you say I should be seein’ 1 - 2 cent spread in crude oil, then
fucking explain 3 - 5 cents on a day it moves! … you say I should be seein’ a
4 - 4.5 spread in USDCNH, then explain yesterday’s almost ALL DAY spread of
7 - 10 PIPS!
And before you open your Pie Holes, I already know the standard operating
procedure [SOP] for market wannabes in management that you somehow think
I’ll buy … sorry, I ain’t buyin’ the “DUH!, market conditions, DUH!” basket of warm
horseshit you throw out for every scumbag trick these LP Fucks use to steal
money from accounts … it’s got nothin’ to do with “conditions”, and
EVERYTHING to do with the fact they don’t want to make a market or be liquidity
providers when markets are moving cuz it might mean scalpers are picking them
off for easy profit … and this is bullshit! … Easy peezee, make a legit fucking
market or go home! … so again, today so far, and I’ve been watching it closely,
both oil and USDCNH behaving like they’re supposed to … what’s so different
about today versus yesterday once the news flow was over? … somebody
enlighten me … well, I don’t need to be enlightened, it’s a case of pure greed,
and of course the house doesn’t mind cuz they’re splitting the extra spread split
with the LP … everybody wins except the client [us] … you know, the natural
order of things from their perspective.
And when it’s all said and done, we’re right back to square one having to trust
these Assclowns no matter how much you show ‘em that they are LIARS, and talk
out of both sides of their collective mouths … we don’t have any other choice if
we are gonna trade, and outside of EURUSD, the layer of “variable spread
thieving” is alive and well, and you never know when it’s gonna strike the market
you happen to be trading … yea OK great fellas, the spreads on both oil and
USDCNH are where they are supposed to be … great … now fucking keep ‘em
there! … we’ll see won’t we?
For the PAMM then, it’s pretty much an obvious approach I’m gonna take going
forward with today’s trade … nothing I’d rather trade than crude oil and USDCNH
with the right & proper tight spreads, cuz one or both of ‘em are usually moving
somewhere … and if by chance they both die or Coinexx pulls another “variable
spread SCAM”, I’ll go to “Plan C” which is to trade EURUSD … granted, a lot
depends on LP behavior, but it’s outside of our control to do anything about it
… we either trade or don’t trade, but I’m not gonna pay mafia rates to trade
anything … fugetaboutit!
Turning to today’s “Fun-O-Rama” inside the world’s largest & most corrupt
casino [where’s my free lunch buffet for playing?], news out of the ChiComs on
the inflation front not having much affect … oil inventories come at 10:30 AM EST,
so get ready for that spin of the roulette wheel [spread holding at 1 - 2 cents going
into the NYSE open], and generally “Stock Bellies” took a valium overnight and
are steady and a little higher in a very nervous trade … and for those who have
the SIMPLE FX [live or demo, doesn’t matter] MT4 platform up & running, watch
AAPL & TSLA in the “Stonks” CFD section under “U.S. Equities” for NDX100
clues … the drubbing in Apple especially making people very nervous.
As for oil [WTI and/or Brent, take your pick], it’s no secret the Saudi’s have got
their fingers on the pulse of supply, and now that supreme energy expert Joe
Biden has depleted the U.S. SPR to record low levels, any increase in demand
from the Pacific Rim, and don’t expect them to loosen supply … any guesses
what happens then? … only a worldwide depression will take demand lower, and
IMHO that probability, while out there, is still relatively low for now … that most
likely means a decent floor under price, where it’s a BTFD trading philosophy
going forward until something changes … all I ask for is a fair spread … is that
too much to ask for and expect? … so far today, it’s holding OK, but we’ll see
how things go going into the oil inventories and then after its release.
For its part, USDCNH not doing much since before the sun came up in New York
… will need to see something from “Stock Bellies”, or the market is simply
waiting for tomorrow’s CPI release from the U.S. … that’s the big event risk on the
calendar, now that the ChiComs have released their inflation figures last night
… so, it could be “Dullsville” in USDCNH ‘til tomorrow … but we’ll see, it’s still
early yet … this pair needs to be moving in order to trade it, otherwise you get
stuck in and around the spread, and nobody wants that … and since I’ve been at
the screens, all bottoms in price, and the turn in the UFT oscillator, have been “V”
bottoms straight out of the gate … overnight, all of ‘em were some type of failed
double bottoms … go figure.
Oil inventories come & go, and of course on the release Coinexx LP’s feel the
need for a 20 cent spread … what a fucking joke … however, to their credit,
within 5 minutes it’s back to normal of a 1 - 2 cent spread, so at least for today
so far, they’ve done their job adequately, but the day ain’t over yet so I can’t do
handstands just yet.
Meanwhile over in other markets, the 10 YR. busting 4% on the downside, but
ain’t nobody cheering … tech “Stonks” getting beat up, especially APPL & NVDA,
and the NDX100 can’t rally to save its sorry ass life … somebody somewhere
better get the trillions in China stimulus ready to go, cuz it looks to me the
meltdown in tech “Stonks” is just starting, and any further weakness could really
pick up steam just when you least expect it … things that should rally these
“Stonks” ain’t, and that’s a big fat red flag going up the flag pole of warning!
… EXIT QUESTION: “does a drubbing in tech “Stonks” = any kind of meltdown in
crude oil?” … half an hour ago I wrote the above question … and then APPL,
NVDA, and the NDX100 go over a cliff via “Thelma & Louise” … and natch, crude
oil stumbles from these recent high levels … well, that escalated quickly didn’t it?
NDX100 hits a new low, NVDA gets crushed, then everything reverses … and off
that reversal at the NDX100 bottom, we get a low in crude oil, followed by a failed
double bottom that hits a new low for the move but comes back, and on the
oscillator turn, that’s the buy signal for crude for a scalp … gee, who coulda
possibly seen this coming? … and as the world revolves around the high flying
tech darlings, it’s almost as if every oil trader sees the NDX100 as a proxy for
economic oil demand … cuz what does a meltdown in tech darlings mean if not
economic catastrophe immediately down the road? … now you know why
imports crashing in China ain’t good news for tech “Stonks” … so, when SHTF
in “Stock Bellies”, oil is gonna pay attention!
And cuz I do extensive weekly research looking for houses to trade crude oil, I’ve
found a gem in Australia … Fusion Markets, and not just for crude oil, but also
for gold … for gold, 10 - 12 cent spread with 5 cent per OZ. round turn
commission, and for margin purposes 500X leverage … this is this easily the best
I’ve seen for XAUUSD … FOR CRUDE OIL [Brent or WTI], a 1.6 cent per bbl
bid/offer spread, no commissions, marginable leverage at 200:1 … this is the best
I’ve seen so far for oil, and it looks like it mirrors front month WTI … they trade
the XTIUSD CFD, and it’s quoted at 3 decimal places … this weekend on the
Sunday blog, I’ll have a bunch of decimal place “vegas mql4 code” for support /
resistance levels with the 4 Risk Models [RM] of volatility, and crude at 3
decimals will be in it.
I want to stress a very important feature of the “Vegas Super Scalper Trading
Algorithm V3” … with the RM =1 & RM =2 already up on your MT4 m1 chart, it’s
easy to see if the slope is “positive” oriented or “negative” oriented … if it’s
positive oriented corrective activity to buy and get long is most likely gonna be
a “V” bottom kind of formation, maybe with a doji or inverted hammer, or simply
a reversal pattern … in any event, this can be bought when the UFT oscillator
turns LIME OVER RED … however, when the RM’s are negatively sloped, it’s a
different story … markets going down are more complicated and usually need
more time to bottom and then come up … not always of course, but most of the
time … I don’t care about missing a profitable trade off a “V’ bottom with the
RM’s negatively sloped, cuz I care more about getting caught in a 1, 2, 3 or even
4 m1 tiny rally and then in a second it collapses and goes lower with a
vengeance … if the RM slopes change, then fine, I’ll cross that bridge when it
happens, but being early to a trade off a down move can be very, very expensive
… cuz remember, there ain’t any rules anymore when it comes to how low any
of these markets can go … they can go a lot lower than you have money in your
account to abandon with “stupid shit” … so, for the PAMM and for
“The Syndicate”, I will most always wait for the failed double bottom …from
today at IQCENT, one of the trades for “The Syndicate” directly below … even
though the Fisher Transform is not the version I use on the MT4, where the
values are smoothed and these aren’t, the crossover happens at the same time
… a bottom, then price comes back about half way and fails to go lower and
then it’s out the top … a nice 20+ PIP scalp in less than 2 minutes.
Today is Wednesday, and in oil we always have the oil inventories report at 10:30
AM EST, unless it’s a shortened Holiday week with a Monday Holiday and then it
comes on Thursday … it messes up the trading day a little cuz you don’t want a
position through the roulette wheel spin, and the number is usually very volatile
with sigma misses, so a lot of bad shit can happen if you play it … only 1 algo
buy signal I took today in WTI crude oil … PAMM UP SLIGHTLY … spreads held
well at 1 - 2 cents and my fills were good, with no slippage … so far so good, now
keep it that way … over at IQCENT, some trades in Bitcoin and USDCNH and
“The Syndicate” is UP APPROXIMATELY 0.4% … tomorrow sees CPI data at
8:30 AM EST, so that will create some Rock ‘N Roll for sure … onto tomorrow!
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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