I’ll start today with the calculation for what 1 PIP is worth when trading USDCNH
… directly below, the “PIP Calculator”.
It’s tougher to figure out cuz the pair is traded inverted, but at the current price in
the box, a 1 PIP move [4th decimal] in USDCNH on 1 lot volume [100,000 notional]
= approximately $1.39 … use this to determine your risk profile when trading it
… on Friday, I stated that IQCENT has the very best LOWEST COST TO TRADE for
this pair … roughly a 3 PIP spread starting around 9 PM EST and going to mid
afternoon in New York … there are NO COMMISSIONS … if you don’t trade this at
IQCENT, then be careful when figuring total cost, cuz a lot of houses will sandbag
you and tell you their spread is 1 - 2 PIPS, but they fail to mention that round turn
commissions are between $5 - $8 per 1 lot volume depending on the house … that
means, given the value of 1 PIP from the PIP calculator, commissions are going
to add anywhere from 4 - 7 PIPS to the cost of the trade … add in the spread, and
your paying close to 8 - 10 PIPS when it’s all said and done … and if you’re
comfortable with that, trade at IQCENT and send me a check of the difference
every week to give to “The Mrs.” to blow on stupid “chick shit”, which i promise
she’ll do in a heartbeat, and everybody will be a happy camper!
Especially in the world environment we find ourselves in now, it’s important to
have MAX FLEXIBILITY in your personal trading … 1) have access to volatile
markets that have very tight spreads, and if not the lowest cost to trade out there,
“Hoover Dam” close … 2) get high leverage to trade at for margin purposes, and
then use it responsibly given your risk profile … and 3) trade at a house where
the LP’s don’t screw you blind with either “bait & switch” variable spread pricing
and/or horrific slippage, the former being particularly egregious … and you get
that at IQCENT … so far, and I’ve been trading there now for about a little over 5
months, I’ve got no issues to speak of … yes, just like any place, there are
markets to avoid cuz they don’t have the best pricing … no house out there is
perfect and has perfect pricing in every market, but in the markets I care about
most and follow, they hit a “home run” … those markets are 1) Bitcoin [other
crypto pairs as well … SIMPLY THE VERY BEST HOUSE TO TRADE CRYPTO
… PERIOD!], 2) EURUSD [the very best IMHO with the LOWEST TOTAL COST],
GBPUSD, USDJPY, & USDCNH [again, the very BEST], and 3) DOW30 … SP500
and gold are only slightly higher in terms of cost, and could be traded without a
severe cost penalty, IMHO … everything else, and you’re throwing money away.
And I’d have to say their biggest disappointments are crude oil [Brent] and the
YEN non dollar crosses … crude with a 5 cent spread is ridiculous, and the Yen
crosses are generally ½ - 1 ½ PIPS HIGHER than more competitive houses
… but, like I said, nobody is perfect and when it comes to crude oil, either WTI or
Brent, there are very few alternatives in the CFD space that make any sense
… XBTFX has the best CONSISTENTLY good CFD for oil, but they suck in
everything else, so if you’re going there to trade you’re pretty much limited to
crude oil … SIMPLE FX is next, but 3 cents is really no deal IMHO … Coinexx is
the “KING” of “Bait & Switch” bid / offer pricing when it comes to crude oil, and
I’m finished with ‘em when it comes to this market.
Today I’m releasing the “V3 Super Scalper Trading Algorithm” … quite frankly,
“Keep It Simple Stupid” [The KISS method] is always better … over in
“Download Links” is the “vegas mql4 code” for USDCNH, along with the
updated v3 manual in pdf … download and install the mql4 code into the
USDCNH MT4 M1 chart.
I’ll be adding mql4 code for SP500 in 1 decimal pricing format, as well as mql4
code for DOW30 in 1 AND 2 decimal format over the next few days, and those
will show up in “Download Links”… and just as a reminder, the current code for
the DOW30 that’s in whole number format is EXACTLY the same code as CRUDE
OIL … so if you want DOW30 RM levels simply use the CRUDE OIL code version.
I still believe it makes the most trading sense to trade EURUSD, GBPUSD, &
USDCNH from either the long side only or the short side only, WITH ONLY
OCCASIONAL switches to the other side … if you go to one side or the other, stay
there for a while before switching … for USDJPY, it’s so highly sensitive up / down
based on the latest BOJ bullshit they’re trying to peddle for their own institutions,
it’s tough to get a grip on which side to be on … one day it’s screaming higher and
the next it’s screaming lower, and not by some tiny PIP moves either … quite
frankly it’s why I don’t really like to trade it, cuz the risk is much greater than
other pairs … but hey, that’s me, others can obviously feel differently about it.
Directly below, this week’s 20 Day Range MA’s for selected markets. I’ve added
USDCNH to the mix, since it’s a market “The Syndicate” will be trading over
at IQCENT.
Onto the week! … OUTTA HERE … “The future’s so bright I need 2 pairs of
sunglasses 😎😎, and my own Brinks armored truck” 💓!!
… Onward & Upward!!
-vegas
