NOTHING BLINDS LIKE PSYCHOPATHIC ASSET BUBBLES

 

“The current state of BTC & ETH!!”

With government sprinkled “Holy water”, let’s grow all of the asset bubbles! … as

I said yesterday, it’s the only way out of the economic mess they themselves

created … instead of fiat to zero and then pay it back, it’s just the reverse

… grow the bubbles so that debt looks cheap to buy back … and here we go!

… so far early today, BTC looks to take out 70K, something a month ago would

have seemed like “crazy talk” … ETH looking to vault 4K, and the “buy early”

crowd cuz ETH doesn’t have ETFs yet [maybe Summer, maybe not, who

knows?] … all systems are “GO!” to grow the bubbles … those with assets

benefit, those that work for a living don’t … nothing new there in the FUBAR

Banana Republic world.

With another $150+ blast higher overnight in ETH, just another day coming up

in NY, where we can sit and do absolutely NADA in terms of trading action

[maybe] … although it’s early yet, market acts like it will never go lower again

… and the higher it goes, the more money that gets thrown at it … human

psychology dictates this won’t end well.

I find it fascinating that both gold and the “Stock Bellies” are acting as badly in

terms of trading action as they are, given their respective price levels … both

stink to high heaven … ETH is about 50% higher than gold, has a comparable

bid/offer spread [gold about 35 - 40 cents, and ETH less than 50 cents most of

the time], and HAS ABOUT 4X HIGHER RANGE AND MEDIAN THAN GOLD, AND

TRADES 24/7/365, and is not manipulated by the COMEX / LBMA / FED / BIS

Corruptocrat cartel … and most days gold is dead … like it or not, and most

don’t, ETH BEATS THE HELL OUT OF GOLD AS A TRADING VEHICLE HANDS

DOWN! … ‘Stock Bellies” [any of ‘em] can’t even move 1% of notional value

they’re so manipulated … they’ll grow as bubbles cuz the FED wants them to,

but what you can’t control will grow exponentially faster and go farther!

Going forward into 2024 and beyond, it’s gonna be a constant battle of human

psychology [GREED & FEAR] versus the unspoken desire of “grow the bubble”

as fast as humanly possible, and I wouldn’t be surprised at all if central banks

are also buying Bitcoin & Ethereum with both hands [Shhhhhh, don’t tell

anybody!] … after all, they got fiat to pay back somehow, so why not pay it back

when BTC is at $10 million per 1 BTC and/or gold at $50K per OZ.? … and in

addition to that, all their Bud Elites will get richer in the process … what’s not

to like? … except for the working poor, of course, but who in government

gives a fuck about that? … while they make Billions, they know Sheeple can

be bought for pennies on an EBT card.

Into the NYSE day, and everything is blowing up … BTC hitting a new ATH, and

right along with it higher spread and of course slippage will be horrific on fills

… gold and “Spoos” in their respective “extend & pretend” market [cough,

bullshit, cough] hoopla, with neither doing much of anything now that NY is in

session … blow the bubbles up, protect them in New York, then blow ‘em up

some more … get the ChiComs to help of course, and what’s not to like here?

… with the implicit “open secret” of government blowing asset bubbles to

infinity [they got no alternative], no telling how high FOMO can go before it all

crashes & burns … we’ve never ever seen this before, so who knows? … what

do “billions” even mean any longer?

I’m replacing BTC with XAUUSD [spot gold] for PAMM trading … BTC at Coinexx

is simply not worth the effort, as the spread blows out too often [today sees at

times $50 - $100], and slippage is horrific [add another $100 … WTF!] … right

now ETH is better than gold for trading, but how long that lasts is anybody’s

guess … with a new ATH in gold WITHOUT a drop in rates, and in fact rate CUT

expectations have done nothing but come down over the last 2 months, and the

Uniparty doing their best to print fiat and depreciate the dollar, gold might have

a shot at trading better going forward … we need better ranges & medians for

sure, so we’ll see … the gold “vegas mq4 code” is over in “Download Links”

… currently RM= 3 & 4 on the m15, and RM=1 & 2 on the m1 … not saying I’ll

trade gold every day, but it’s on the list to be looked at when I come in for the

start of my day … right now, ETH is first, gold would be second, and bringing

up the rear with what can only be described as pathetic, is the “Spoos”.

And suddenly, markets get heartburn an hour before lunchtime EST … and

wasn’t that fast? … sell stops unmercifully butchered … no matter say

HODL-ing longs, “tis a mere scratch!” … and with this blunt instrument trauma

to the head, I’d be somewhat surprised NOT to see lower prints tomorrow for

BTC & ETH … even with this sell off, ETH up 7 trading days in a row, and a

stunning 18 out of 21 trading days approximating $1,500 in gains from bottom

to top … trees only grow to the sky in fairy tales, and while there’s most likely

a Helluva long way to go before we reach any kind of big blowout historic high,

FEAR & GREED [as mentioned before] have to be considered along the way

… bigger money needs to buy at lower price, and retail specs ALWAYS fill the

bill … always have, always will!

Now into the NY afternoon, and unless we get another tsunami wave of selling

later towards the close, as things now stand, BTC with about a 10% move low

to high, ETH about 8%, gold about 1.5%, and “Spoos” a hair over 1% … for you

Biden voters, considering spread and minimal slippage, that makes ETH the

clear winning market for trading action … the one disadvantage is the low

leverage versus gold & “Spoos”, but hey nothing is perfect now is it?

… multiple trades for the PAMM today in ETH, and for a while it looked like

just another day of bullshit one-way action, but corrective activity came along

and WE’RE UP SLIGHTLY … made back all of the loss from the BTC clusterfark

fills on Friday, plus some, so we’re up for the month going forward … hopefully

with some “profit taking” [thank you Bob Pisani, CNBC perma bull hack], the

rest of the week will give us better opportunities than what we’ve seen recently

… we’ll see … onto tomorrow!

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

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

-vegas

DEJA VU BABY!

 

“Yogi sums things up perfectly!!”

Many years ago, I didn’t think it would ever be possible to have BETTER trading

conditions than the actual trading floor … of course, nobody envisioned high

speed electronic trading like we have today … that was stuff straight out of

science fiction … well, here we are, and although for the times they existed there

were some pretty good markets, in retrospect they couldn’t hold a candle to

what’s available to the public today … and you don’t even have to lock yourself

into commuting into shitholes like Chicago or New York, where no human should

have to live, just to get great trading conditions.

Now anybody … literally ANYBODY with a few bucks in his/her pocket can trade,

and have trading conditions light years better than what I had when I started my

floor trading career in Murder, Inc [a/k/a Chicago] … quite frankly, and I told this

to Miss Gimpy in all seriousness, along with her parents who were shocked &

dismayed to learn of her leaving “indoctrination camp” to become a full time

trader … give her another month, and she’ll be making more than her parents

COMBINED are making after about 1 year of trading … she’s only in her 20’s, she’s

got a long way to go … in this day and age, unless you’re into STEM, college is a

complete waste of time & money … and don’t anybody give me this shit of,

“money isn’t everything” … yea well, try living in the Caribbean or being married

to “The Mrs.” and being broke, and see where that gets you … I’ve been rich and

I’ve been poor … rich is better.

Why would anybody in their right mind want a stupid corporate job, making

others wealthy, while you get paid shit and do all of the work? … As I told Miss

Gimpy, get to the point where you’re trading 5 - 10 BTC at a clip with zero worries,

and make a few thousand a day … then do whatever you want … everything you

need is right in front of you … backtest the algorithm to your heart’s content, and

then trade it for literally ZERO COST [almost] … it’s like I’m on a trading floor

again … deja vu baby! 

Turning to today’s “Slots-A-Rama” inside the world’s biggest casino, not much

happening even in crypto … Bitcoin rather quiet, which just means the springed

coil is getting ready … gold getting monkey hammered cuz they can … still way

too many people long, HODL-ing positions the scumbag bullion dealer banks

need to flush out  before assaults on the ATH can commence … but, once $2100

is breached, look the Hell out on the upside as the entire world goes FOMO at the

same time, concurrently with a massive de-dollarization in financial markets

... the parabolic rise in gold & silver comes when OPEC goes to Yuan pricing of

oil … and if you don’t have “phyz” by then, good luck getting any for a while.

Meanwhile, another day of straight down, turn on a dime and now it’s straight up

in gold … back to straight down… literally ZERO trading, only the usual wall of

dealer selling or wall of buying, and when the move is over, it’s either go the other

way or the Loser Formation … just a terrible market to trade cuz THERE ISN’T

ANY TRADING, ONLY BULLION DEALER BULLSHIT! … it’s pretty simple … right

now, gold is stuck inside the manipulation machine run by the Lounge Lizards at

the FED … they are stalling for time, hoping beyond hope things improve, cuz the

very last thing they want is for gold to hit new ATH and make headlines

everywhere … but, the next “crisis” is right around the corner with debt default,

then QE+ Infinity when CRE [commercial real estate] goes tapioca … the fact they

are clueless only makes the situation worse.

Into the New York afternoon, and the “VIX crush” is in full swing … even Bitcoin

today with an unusually very tight range of only about $250 for the last 7+ hours

and counting … talk about the “Flying Wedge of Death” [FWD], here’s the yo-yo

from Hell in all its glory … but, the coiled spring won’t stay “tight” for long, once

“whales” get what they want … gold a complete disaster, as not only do the

scumbag bullion dealer banks UP the spread, looking at the order box and you’ll

see “mystery” bid & offer ticks galore, indicating somebody somewhere just got

mugged, robbed, and raped … and now, there’s very little chance the trade can

even get out of the frickin’ spread … there’s just no way anybody should be

trading this shit.

No trades for the PAMM today in gold … everything, in terms of range and range

expansion, comes either in the Asian session, or the first hours of Europe … by

the time New York rolls around, it’s tiny straight shots inside the FWD, and then

the infamous Loser Formation … take the spread + slippage + commissions and

you got the best of all worlds for the scumbag dealers, and the worst trading

conditions you can expect for specs … to call this a “free market” is a complete

joke … it’s a manipulated slot machine run by thieves … if it ain’t movin’, you just

have to leave it the Hell alone or it grinds you into dust.

Bitcoin in the unusual position of joining the “Vix Crush” today … still, given its

unique VIX position and our superior trade conditions, it moves enough for the

algorithm to still get profitable results … “el mucho” algorithm buy signals today

in BTCUSDT … “The Syndicate” UP APPROXIMATELY 0.2% … and I can tell you

flat out, I had a boatload of trades today where the fact we have a 1 penny spread

saved out ass … when BTC doesn’t’ go, you exit … no fiddle fucking around

wondering about “shoulda, coulda, woulda” … liquidate and come back again

… quite frankly, this can’t be done at Binance, Phemex, or Coiness cuz their cost

structure is so much higher than IQCENT … I get instantaneous fills, and

somebody tell me how you beat a 1 penny bid / offer spread? 

And while being up 0.2% ain’t gonna get anybody picking out the color of their

new Porsche, it’s better than losing money and having the whole amount go to

either the house or some set of scumbag LP’s … this from the worst day of

Bitcoin action I can recall seeing since the “nuclear winter” some moons ago

… as individual traders, whether you’re trading now or thinking about it, if you’re

not trading Bitcoin [or another crypto pair] @ IQCENT, you got some ‘splaining

to do with yourself, cuz obviously making and keeping money isn’t a priority for

you … I ain’t your Mommy nor your part time psychiatrist, so issues beyond

actual trading of markets and how to do it and providing readers with the

necessary tools to do it, I’m not equipped for that job.

Hopefully gold decides to get its ass in gear, but I’m not particularly hopeful on

that front … it feels like it’s stuck in mud from the upper 1900’s … breaks yield

nothing on the downside, and rallies can’t hold … costs to trade gold are high,

very high, and even worse for silver … add to this the fact that dealers beat people

to death with slippage and shit fills on mystery ticks … we all know they’re

complete thieves, that’s no secret … they fuck around crushing VIX cuz that’s the

metric that makes them the most money due to chop … and when there isn’t any

range to speak of, or it’s way below its 20 Day Range MA [like today], trading gold

is akin to playing a slot machine in Las Vegas … I don’t like your chances!

… onto tomorrow.   

[And just as I go to post the blog, Bitcoin explodes in 12 minutes … UP about

$200 … like I said, you can’t keep the coiled spring coiled too long in a free

market.]

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

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

-vegas

THERE ARE NO RULES

“A very hard pill to swallow in trading!”

The only rule in trading is that there are no rules … them that has the gold makes

the rules, and if you’re looking for “fairness” and/or easy markets to trade I got

some bad news for you.

The movie classic “The Wolf of Wall Street”, at least from a psychological trading

perspective is superb … it lays out the emotions of the trading world like no other

financial movie since “Wall Street” and Gordon Gecko … but Jordan Belfort got

one thing absolutely right … “first you Learn, then you remove the ‘L’ … can’t say

it better”!

I want to make one thing clear today as we move forward … the “Traders Course”

[TC] is a good beginning course for those looking at an array of markets with

average volatility to low volatility, and there are special chapters for DOW30,

crude oil, and crypto … there are also sections for position traders via the HR1,

something I don’t do cuz I don’t see the added reward for the risk … but hey,

the world is a big place and there’s room for all kinds of strategies in financial

trading … I’m not presumptuous enough to think my way is the only way, cuz I

know it isn’t … but it's what I know AND IT WORKS.

I wrote “Traders Course II” [TCII] cuz it addresses a need not found in the original

TC … and that is dealing with above average “intraday VIX” [IVIX] that I believe

GBPUSD and some of its crosses will see in the coming months and years as

BREXIT has finally been put to bed from a political standpoint, and thus freeing

Cable to go back to its historical ways of trading. Quite frankly, the scalping

algorithm in TCII “should” be viable and produce excellent profits in any market

that decides to become and stay volatile. What’s important, though, is that in

addition to having good & decent IVIX, you need LOW net trading costs,

otherwise you simply write a check to the scumbag LP’s & the brokerage house

FOR NO REASON … the “VIX MATRIX TABLE” in every Sunday blog update has

this table, and the markets in green are tradeable, and the markets in red aren’t

… if you’re trading “red”, you’re paying too much to trade relative to what the 20

Day Range MA is currently at for that market … make all the excuses you want, it

won’t matter, the facts are what they are.

“Donny read the “Traders Course II” [TCII] manual last night & traded today”!

Cuz what Donny knows that you don’t, if you don’t have the TCII, is that if I drew

up Cable trading today to match the algorithm from the TCII, you’d say I was

cheating and knew beforehand what was going to happen … that somehow, I bent

the rules to mold today’s trading action … but what everybody who got the TCII

yesterday can clearly see but you can’t [well, quite a few of you can!], is that the

algorithm completely “nailed to the wall” GBPUSD scalping today [up to 18:00

when I quit cuz that’s the time to stop trading unless there are special

circumstances in the market, and today there aren’t any … so adios at 18:00 or

thereabouts!] … range today in Cable a very nice approximate 90 PIPS given that

it’s 1) Monday, and 2) tomorrow is New Year’s Eve … into 2020 and Cable is poised

to “spread its wings” … GBPAUD not participating nearly as much, simply cuz

AUDUSD is rallying as well, and when both rally the cross isn’t going to have the

range that Cable has … when Cable and AUDUSD diverge, it’s fireworks in the

cross.

Which brings me back to TCII, cuz if you’re here trying to pick up tidbits of info

that can help your trading model get you over the finish line, my only question for

you is this … “does it have anything in it that is in “real time”, or is it simply a

bunch of “lagging indicators” that trap you more than they help you at crunch

time”? … in the TCII, I show you how to use my “real time” indicator, which by

the way CAN’T be manipulated by the scumbag LP banks, and when to use it for

MAX profit … and with probability theory on your side. And today, I enjoyed

superb trading conditions at PRIMEXBT in GBPUSD, with instantaneous fills right

on the bid/offer, and my total cost to trade above average size right around a

fraction over 1 PIP … as I’ve said before, better trading conditions than when I

was on the exchange floor and had to pay hundreds of thousands of dollars to

stand there … all these years later, I could never have envisioned that scenario

under any circumstances, yet here we are! So, other than you like giving money

away to banks & other brokerage house to trade, and have nothing that makes

consistent money scalping [or day trading], there’s no reason not to sign up at

PRIMEXBT through my affiliate link, and reap the rewards of profitable [or more

profitable] trading … I’ll be waiting.

Today, some trading in Cable for the Turnkey PAMM / MAM, where trades were

made using the TCII algorithm … UP a little short of 0.1%, as I switch my focus

there to Cable and away from their hideous DOW30 CFD … I had planned on

trading it hard and fast starting the New Year, but today saw some signals so I

went “light” on the volumes … look for much higher volumes and trades starting

with the New Year … at least so far, had decent fills and execution times … not

as good as PRIMEXBT for sure, but I can’t complain about them today. Hopefully,

this continues, but every time in the past I have hoped for the best from them,

they’ve disappointed … we just have to wait and see if their new global servers

and LP’s are up to the task … so far in Cable they pass.

Turning to the “Tulip Bulb 30” [for you newer readers that’s the DOW30] … well,

seems the “Chumps” who’ve been buying rallies the last 5 days and HODLing

… on the theory of “what can possibly go wrong I don’t see anything”, got their

sell stops hit off this morning in the mini market meltdown of the latest version of

“the world is ending” … even manipulators can read the “tea leaves” and know

when to pull the bids and let the masses destroy themselves with sell stops … as

I’ve said before, the back “6” of the “88/6/6” trading paradigm is a B. I. Itch when

it shows up, and can wipe out days/weeks/ months of profits if you’re not careful

… this mornings spec meltdown the latest iteration of specs too long for their

own good.

Now in Gotham shortly before Noon EST, the slow burn higher trapping shorts

… and thus the “game”  continues … once Europe closes and we get into the

afternoon, it’ll be interesting to see if they bring this shit back higher, or they

hang it out to dry for tomorrow’s NYE trading clusterfark … we’ll see.

A couple of buy algorithm signals today in DOW30 … FX CHOICE PAMM / MAM

UP A HAIR SHY OF 0.3%.

Now into the “criminal” New York afternoon with the usual suspects, nothing like

the “Plunge Protection Team” [PPT] showing up and 1) killing shorts, and

2) making sure the “stocks can never be allowed to go down” mantra stays alive

… fire up the CNTRL-P machine, take the level of the Pacific Ocean down an inch

or two for ink, and it’s amazing what you can do with billions of fresh new fiat

dollars at your disposal … your corrupt government at work … what a complete

and utter fucking joke stock indices have become … just unreal the level of

manipulation that’s now taken for granted.

Well, I’ve seen enough of this crap, I’m outta here … until tomorrow mi amigos

… Onward & Upward!!

Have a great day everybody!

-vegas