ETHEREUM SCALP TRADING DYNAMICS … PART 2

“Trading is simple … I never said it was easy!!”

So many issues to deal with as a trader, but fortunately things have worked out for

us, as crypto has shown the way and help to destroy the monopoly large scumbag

banks enjoy, thanks to central banker scum, and made the trading environment

paradigm noteworthy for its changes … today is “Part 2” of a 3 part series on

Ethereum [ETHUSDT] trading @ IQCENT … why only at IQCENT? … CUZ THEY

HAVE 1 PENNY BID/OFFER SPREAD WITH NO COMMISSIONS … next question.

And while trading ETH is the MAX bet for my money, trading EURUSD with a

0.1 - 0.2 bid/offer spread with no commissions but much larger leverage, is right

behind ETH … when EURUSD moves, it’s hard to argue with it as a trading

vehicle … the first thing you need to do is adjust your mind right to scalping

… and no, I’m not talkin’ about some new age bullshit about envisioning your

reality, I’m talkin’ about “thinking like a scalper on the trading floor” … I was there

for a very long while, and I know from which I speak … most floor traders [locals]

were dumber than a box of rocks, and even the lowest of the low, the so called

“1 lot pond scum” traders made 6 digits per year, but they had discipline and

patience and they “figured it out” … meanwhile, the educated that came in the

door thinking they had it all figured out, most likely didn’t last 1 month … “quite

frankly, you have to adjust your head and wrap around the idea of what it is

you’re doing" … and what you’re doing as a scalper is “buy at 1, and sell at 2”

OR “sell at 2 and buy at 1”, rinse / repeat and do it another million times … cuz

the “Wolf of Wall Street” had it right … “if you can make $1, you can make

1 million more!” … be a scalper, not an analyst, and never take big hits on a

trade … never!

I’ve mentioned a few times the ETHUSDT market at Phemex, directly below the

link to ETHUSDT open order book at Binance for ETHUSDT.

https://www.binance.com/en/futures/ETHUSDT

Either of these, Binance or Phemex, or Coinexx, are good places to compare the

USDT market in ETH against ETHUSDT at IQCENT … again, this is the “basis”,

and it’s important cuz all 3 of those platforms are bigger than IQCENT and more

importantly will move first by about half a second … and again, I find IQCENT

ETHUSDT about 1.2X - 1.3X more volatile than those markets, and quite frankly

I think the reason is cuz that’s how the LP makes their money off the trade

… sure, there’s the “arb” fill guarantee, but the bigger steal is filling late comers

at highs and lows and profiting from that … and so, if you’re late to a trade you

just might pay an extra 30 - 50 cents [maybe more, who knows] on a spike up

buy or a spike lower sell … HINT: “don’t be that trader, OK?!”

While overall macro trends of the trading day via “risk on / risk off” [RORO]

bullshit continue in every market to some extent, the m15 isn’t as important in

ETHUSDT scalping, as it might be for EURUSD … I know there are plenty of

people that hate crypto, and I know plenty of people that love crypto, and quite

frankly whether you trade ETHUSDT from the long or short side makes no

difference to me … no side has the advantage, although it does seem that

vicious rallies are more frequent and bring about more violent price moves more

often … outside of the “one offs” lower we’ve seen in crypto over the last few

years, that description is quite accurate, therefore I want to trade ETHUSDT

from the long side … but if you feel more comfortable from the short side, have

at it, it’s simply the flip side of being long.

Turning to today’s bullshit after Spicoli pissed in the 2024 bubble asset

punchbowl yesterday, with a very hawkish “dot plot” going forward, just

remember that saying is one thing and doing is another … don’t believe a

fucking thing coming out of his PIE HOLE ever … he’s a political hack

emboldened to the Global Elite Rothschild group … and rates go higher … don’t

fight the rate tape, and nowhere is that more appropriate than in gold, where

rallies today few & far between that lasted longer than a few minutes, and the

best rally of the day went about 30 minutes right after “Stock Bellies” opened

… gold needs better ranges, and it needs for rates to stop rising … no trades

for the PAMM today, as I’m not fighting the rate tape when it’s going higher

… but make no mistake, gold is about ready to take off when SHTF and the

economy implodes … that’s coming a lot sooner than most think … over at

IQCENT, a shipload of light volume ETHUSDT trades for “The Syndicate”, and

we’re UP APPROXIMATELY 0.3% … onto tomorrow.

… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,

and my own Brinks armored truck” 💓!! … Onward & Upward!!

-vegas

THE “MAGIC” OF THE EXPERT CLASS

 

“I do NOT consent to your rule! … “experts” my ass!”

How can something THIS SIMPLE, laid out in detail beforehand, be fucked up

this badly, by a group of self anointed “experts”, who assure us every single

day they can solve the “crisis” they themselves created? … unless of course,

they WANTED it FUBAR … EXIT QUESTION: “Is Biden really this stupid, OR do

his behind-the-scene handlers have ulterior motives”? … yes, he IS THAT

STUPID! … and/or is this a case of burning down the largest factory in your town,

so as to distract police & other responders, while the real crooks rob the bank

while nobody is looking or paying attention? … behind the scenes of horrific

bungling, what is government up to that needs to be paid for by human lives &

suffering? … what’s next on the list of potential “Black Swan” events coming

our way?

Well, complete medical tyranny is high on the list … as I said when this Doofus

stole the election months ago, if you iive in Taiwan I’d be GTFO “el mucho quicko”

cuz I know Communists when I see ‘em … or maybe it’s Preezy Idiot Boy’s

“swan song” to hand over power to a wretched socialist / communist

“Manchurian Candidate” VP who will oversee a complete transformation of the

U.S. to authoritarian rule … rapidly … can’t have distractions like Afghanistan

around when you’re attempting to subjugate and control Sheeple in the U.S.

And all of this IMHO, has got “markets” [cough, bullshit, cough] rattled, and it’s

another feather on the back of the camel that’s struggling to stand upright and

walk … how many more before society as you know it completely disintegrates?

Well, that didn’t take long … a few brief days and the world melts, so what?

… the Chipmunks are getting ready to be fed at the NYSE open again, and the

scumbag banks who can read order flow of institutions ready to buy at the open,

goes into full gear … cuz everything is just so F-ing Awesome, I don’t know where

to start … how badly will they get screwed today? … “new ATH’s in the “Spoos”

by the close? … wouldn’t surprise me at all”! … and there goes gold down the rat

hole, where all I can say is, “can we get some actual trading action that doesn’t

involve scumbag bullion dealer / bank LP “scumbaggery” or what”? … this entire

opening of cash markets simply a gigantic SCAM, run by the banks for the banks,

and of course the POLS, Apparatchiks, & regulators “skim” … cuz without the

“skim” being paid, nothing would ever get done or be allowed, and you know it

as well as I do.

London Fix came and went, nothing here but yawns … Cable with an embarrassing

44 PIP range, and EURUSD in the 20’s, and quite frankly all you can do is LOL,

otherwise you’d be crying what a total shitbox FX has turned into this August

… the world literally on fire, and nobody cares … gold can’t do shit, sitting inside

the 5 day bucket of shit range it’s had all frickin’ week … can’t bust 77 and can’t

rally past 93 … ho hum, just bullion banks grinding specs up for dinner is all

… and then there’s the “Spoos” and today is OPEX, and what we saw at the NYSE

is purely criminal, but we see that almost everyday, and since anybody who is

anybody gets their “cut” to look the other way … “Look over there, a squirrel!”

… why should it surprise anybody that once the cash market opens there’s

nothing here? … “it’s afternoon in New York, and once they got done feeding

the Chipmunks, this shit hasn’t moved 5 index points … oh yea, some market

this is.

Crypto somewhat better, but anything that moves at Turnkey sees the spread get

blown to shit, so what does it matter? … Cardano [ADAUSD] up over 20%+ today

in the alt-coins … slow day again in DOGECoin [DOGEUSD] but still not that bad

… I realize it’s August and everything, but c’mon, can’t something move

“normally”, without the “speed of light … crickets” phenomenon playing out

every frickin’ day? … apparently not.

I came into today looking to trade the DAX30 ... that ain't gonna happen cuz

Turnkey's LP's in the DAX30 must be the same ones that do crypto or the

NDX100 ... in other words, it's bullshit, and I can tell by watching the quote box

where a halfway decent spread is interspersed with mystery uptick offers, and

mystery downtick bids ... all you gotta do is watch a spread for about 5 minutes,

and if you're looking to make any trade, take the highest spread you see and

that’s gonna be your spread when you trade … GUARANTEED! … everything

else is fluff and bullshit and phantom quotes … OK, so after doing that, there’s

no way I’m paying 2.2 - 2.5 index points to trade, and that’s before any slippage!

… even with no slippage, that amounts to 5X OVER the futures … trading the

“Spoos”, it’s more like 0.05 - 0.15 over the futures, so why pay more for nothing?

… adios DAX30.

Gold won’t trade and the “Spoos” either are getting monkey hammered or they

crawl higher with almost no corrective activity … sure, nice range today, too

bad it doesn’t matter cuz it’s 100% directional flows that turn on a dime and then

it’s hours the other way … WTF is the trading? … you look at the trading action

before the NYSE opens and it’s an entirely different animal, thn what it looks like

after the criminals get ahold of it … it’s like there’s 2 drastically different markets!

… I dunno, maybe cuz it’s OPEX day, so we’’ll see on Monday … on my radar

screen for trades are Cable, “Spoos”, and our pet yellow rocks called gold

… with Jackson Hole upon us next week, maybe something interesting happens

that makes for some trading … then again maybe not … only 11 more days in this

wretched frickin’ month!

Readers might notice I’ve taken BINANCE off of my preferred trading houses and

taken the link off the website … that’s cuz BINANCE caved to the “U.S. of China”,

and now requires all traders to do KYC … adios BINANCE, now watch as your

business disappears.

Mid afternoon now, and I’m throwing in the towel on this shit … true to form, when

any market goes straight [up/down doesn’t matter], when the correction comes

and you get corrective trading activity, you don’t want it now cuz it’s over … the

chance for corrective activity to enter is gone cuz it never corrected in its straight

line move … so why should today be any different? … cuz now the “Spoos” are

coming off of this multi hour run straight up and moving lower now off the top

… well, goody goody, it won’t matter cuz there’s nothing left to go up for … all the

buy fuel has been spent! … can’t get that 6 - 10 index point correction before

… but it’s here now! … yea well, too frickin’ late, cuz the probability it goes back

and extends the range higher is small … very small … sure, it could happen,

especially with OPEX today, but even so your odds stink now for a long position

with 90 minutes and counting down to the close … meanwhile, gold with a less

than $7 range over the last 10 hours, doing Mr. Slim Pickens … absolutely terrible.

No trades today in the TURNKEY PAMM.

I kept waiting for the DAX30 spread today to “come in” and be reasonable … it

didn’t … that blew the European session to hell, and since the NYSE opened, the

“Spoos” haven’t gone 12 index points … gold & Cable refusing to do ANYTHING

BUT CHOP in ranges that are simply pathetic to watch … what is it I’m supposed

to do with this pile of shit in these conditions? … EASY PEEZEE: sit, wait, keep

powder dry.

Over in crypto, some trading today in DOGEUSD and “The Syndicate is UP

FRACTIONALLY. While some others moved, most notably ADA [Cardano],

DOGECoin put in a normal day, but there were no fireworks to speak of, just

crawling really … oh well, onto tomorrow.

Blog update on Sunday … outta here … “the future looks so bright, I need

sunglasses”! 😎 … Onward & Upward!!

-vegas

SUNDAY UPDATE: PARADIGM PROFITS!

 

“Know your trading paradigm!”

As we move towards launch date with the algorithm, it’s critically important you

understand which paradigm the algo returns fantastic results, and under what

circumstances it won’t do very well and you’ll be disappointed … VOLATILITY

[VIX] is the name of the game! … under normal circumstances, the greater the VIX

in a market, the greater the probability the algorithm will perform exceptionally

well … the algo has been designed for “normal” to “above normal” historical

volatility, so we don’t need “bat shit crazy” [BSC] to succeed … in fact, what

history tells us about markets, is when conditions do go BSC, bid/offer spreads

blow out AND slippage becomes a real problem when dealing with Liquidity

Providers [LP’s], so completely BSC markets won’t be doing us any favors either.

On the flip side, LOW VIX in any market will lead to higher probabilities of “false

positives” in trades, with a greater probability of loss … in other words, the

dreaded “chop” shows up … as I’ve said before, no market is immune from VIX

changes over time, and the cycles of high VIX to low VIX, and back again,  can be

a lot longer than people think [years / decades] … there are other factors as well,

like overt government manipulation, that started in earnest after the ‘08 financial

crisis and has ramped up HIGHER every year since … we see this in “Stock

Bellies” [the “88/6/6” paradigm, and price is manipulated higher], AND FX &

gold / silver, where FX pairs by each respective central bank to keep their

currency from appreciating against the dollar or major trading partner [a/k/a “race

to the bottom”], and with gold / silver the FED via the “Rally Protection Team”

[RPT], with the help of the BIS [Bank of International Settlements] … these

manipulative operations are all geared towards DECREASING VIX … and when

VIX gets crushed, so do traders, cuz markets ain’t moving … this is “THE”

modern day manipulation M.O. of central banks worldwide and their BFF, the

scumbag bank LP’s. 

As I sit here today, if you plan on using the algorithm to trade ANY FX PAIR,

you’re gonna be disappointed … of the major FX pairs with “total cost to trade”

under 1 PIP at TURNKEY, ONLY GBPUSD & GBPJPY come close to the lower

boundary of acceptability in terms of 20 Day Range MA’s, where the cutoff point

is 90 PIPS … anything BELOW THAT AND YOU’RE COURTING TROUBLE!

… currently, GBPJPY is at 89.3, and GBPUSD is at 92.0 … note, with Cable, there

are 2 large range days in the last 20 that skew the average … without those 2, the

20 Day Range MA would be easily below 90 … and just for comparison’s sake,

USDJPY = 60.8, EURUSD = 64.8, USDCAD = 82.0, & AUDUSD = 68.5 … and over

the approximate 50 YEARS of FX trading, VIX is scraping the LOWS of historical

norms … so, what does this tell us, IF WE’RE IN THE MOOD TO “LISTEN”?

… “it’s screaming, go find other markets”!

Then there’s gold … it’s current 20 Day Range MA = $20.79, sitting right on top of

the lower boundary of trading acceptability … and like Cable, there are 2 days of

the last 20 that skew the average … without those 2 days, Gold’s 20 Day Range

MA would be around $18 … here though, we have the added 2 dimensions of

1) the “Chuckleheads” in the Asian session led by Mrs. Watanabe & Gal Pals,

and 2) New York almost always [about 95% of the time] FADES whatever Asia

does … and lately, New York trading has been nothing short of a “Meat Grinder”,

with no discernible trend to be found EXCEPT SELLING by the usual suspects.

“Stock Bellies” at Turnkey have only one market that CONSISTENTLY has

trading conditions favorable to specs, and that’s the DOW30 [a/k/a “The Tulip

Bulb 30”] … other indices are not nearly as favorable either cuz of high spread,

or horrible slippage, OR BOTH … given the paradigm currently in affect, which is

the “88/6/6” [88% of the time price goes UP, 6% of the time price goes SIDEWAYS,

and 6% of the time price goes DOWN], trading the DOW30 from the LONG side

ONLY makes perfect logical sense.

Then there’s crypto, and until very recently, I’d written off Turnkey for trading any

of their crypto pairs cuz they were NOT competitive with “open order book”

platforms … since Ripple has been delisted, there are only 4 crypto pairs to

choose from at Turnkey … BTCUSD [Bitcoin], ETHUSD [Ethereum], LTCUSD

[LiteCoin], & BCC [Bitcoin Cash] … BCC is not competitively priced … ETH,

so far, is GROSSLY OVERPRICED IN TERMS OF COMPETITIVENESS with “open

order book” platforms … LTC offers about the same costs as “open order book”

platforms, but LTC doesn’t move like the others and is somewhat of a laggard

… TURNKEY has “turned the corner” with BTC, and now has the VERY BEST

PRICING FOR TRADING BITCOIN ANYWHERE YOU LOOK! … all that matters is

“total cost to trade”, and for BTC at Turnkey under “normal” conditions, you

can expect to pay a total cost per round turn trade of $7 - $25 … that’s well below

50%+ what “gas fees” [commissions] are on ANY “open order book” platform

… the downsides to Turnkey’s BTCUSD? … 1) not open on weekends, and

2) MAX leverage of 10X … IMHO, not that big of a deal, but to some “shooters”

out there it might be.

Then there are the crypto alt-coins … best places to trade these, IMHO, are

PHEMEX & BINANCE … the alt-coins are even MORE VOLATILE THAN BTC!

From my perspective of support for traders via the trading algorithm, anything

listed for trading at either TURNKEY, BINANCE, OR PHEMEX, I can help your

trading … anything not listed on these brokerage houses, and you’re on your

own.

Quite frankly, I don’t care where anybody trades … as long as you’re happy, I’m

happy, but I’m only happy when I can get everything I want in terms of LOWEST

COSTS … if you don’t want to use the MT4 or MT5 platform to trade, but instead

use proprietary platforms [e.g., PRIMEXBT], the trading algorithm should be fully

functional ON ALL PLATFORMS … when you combine the 4 markets I listed at

Turnkey, nobody has LOWER COSTS TO TRADE … nobody … somebody might

have a slightly lower cost on one of the markets, BUT NOT AS A GROUP … and

this group gives us the best selection of potential volatile markets going forward,

than any other list of markets you can name, at any other group of offshore

brokerage houses that are NO KYC. 

As for the alt-coins, some people like ‘em and some hate ‘em, and with BTC around

and offering plenty of “thrills per second”, why should I even care about alt-coins?

… and I get that … it’s called “personal choice” … I know people who have

accounts at many different brokerage houses, cuz they like one particular market

at each one that serves their needs … I also know plenty of people who hate this

idea … “give me a place I can go to get the best all around conditions of markets

I may trade, at the LOWEST COST, cuz that puts money into my pocket”! … well,

under that scenario, even with all of their brokerage house warts, that makes

Turnkey the BEST CHOICE … remember, no house is perfect … NONE!

Given all that I’ve said so far, you still have to know the specific paradigm YOUR

TRADING MARKETS OPERATE UNDER in order to succeed … yes, they ALL

share many attributes, but there are specific items to each that the others don’t

have, and you have to know them … no sweat, the algorithm manual has you

covered, and the PATREON group [$5 per month AND financing available 😂😂]

with support via email & live chat has a definite edge on the “grey areas” I’m

familiar with … “yes, I know, 16 cents a day is “a lot” … I talked with the dog

about it, and he says that’s 1 ½ slices of deli honey ham he’s giving up per day

… but he’s on a diet so he doesn’t mind … besides, he says he knows where

I live”.

Of all of the markets I follow, the one that needs & demands special attention is

Bitcoin [BTCUSD] … so much so, that the algorithm manual devotes an entire

section specifically to BTC … as the only financial asset that has a very high

asset value versus other markets, there are characteristics of BTC you won’t find

in other markets.

One last thing I’ll bring up about the trading algorithm before I call it a day … and

that is this … “don’t underestimate its POWER to make you money simply cuz of

its SIMPLICITY & EASE OF USE”! … every single scrap of the algorithm has many

tons of behind the scenes high level math, as well as “logic functions” most are

totally unfamiliar with … if I wanted, I could have made the manual 500+ pages

and gone over in excruciating detail the math … quite frankly, just like your

smartphone, you don’t really care about the quantum physics, Boolean algebra,

network & information theory behind it, just show me how to effectively use it! 

… outta here and onto the week! … “the future’s so bright I need sunglasses”! 😎

… Onward & Upward!!

-vegas