CRYPTO CASH / CRYPTO PERPETUAL FUTURES

 

“Upon receiving your futures stop order fill!!”

It’s one of the “bigly & yuge” advantages of “arb scalping” crypto at IQCENT

… the horrendous buy/sell stops seen in perpetual futures ala Phemex, aren’t

participated in by the IQCENT LP … that tells me they use the cash market for

hedging / laying off risk exposure, and filling our orders … the only difference

between the LP and us, is that they “arb scalp” for less than we do, and they

do sells as well as buys! … and it’s why I tell people, NEVER PLACE A LIMIT

OR STOP ORDER IN AT IQCENT.

Crude oil too hot for my tastes … quite frankly between m1 candles that go

30 - 50+ cents in less than a minute, then throw in the scumbag LP in oil that

blows the spread out to upwards of 5 cents, I simply give up on oil … if you

want a bullshit market where you’re behind the 8-ball constantly, then trade oil

… today the “Thugs & Dictators” that run OPEC having some buy/sell fun I’m

sure … I’ll have some answers for the PAMM tomorrow … No trades today,

thank you very much scumbag LP that thinks I’m stupid enough to trade a 5

cent spread … GFY!

Crypto simply D.E.A.D. … ETHUSDT over the last 8+ hours has a $20 range

… “arb scalps” slightly there, but in this tight of a range there isn’t much at the

table to eat … very scarce … “The Syndicate” barely making anything, we’re UP

FRACTIONALLY … big whoop … onto tomorrow.

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

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

-vegas

KNOW HOW THEY ROB & CHEAT YOU!

 

“Know how they try & cheat you and fight back with profits!!”

They all do it … and I mean ALL … every brokerage house LPS [liquidity

providers] are scumbag thieves and crooks, and depending on the market

you trade, the real question is, “do they steal pennies or dollars” from you?

It’s a little different in crypto, and in today’s blog my intent is not to bash IQCENT,

it’s to make you aware of how their crypto LP [Thompson Reuters] tries to cheat

you in their “Scumbaggery & Fuckery” role … you have to know this or you’re

gonna get gutted like a fish for dinner! … directly below, from yesterday, a

screenshot of a trade I made when their LP held the bid down while

simultaneously raising the offer, only to have seconds later the platform

“whitewash” the whole thing and make you think there’s a 1 penny spread

… and when you throw in the distinct probability that management of IQCENT

gets part of this “slippage vig”, now you know how they make their money in

crypto … they make it from unsuspecting dumbass traders!

The green dot on the left is my liquidation trade from being long … while

Phemex is rising in price, IQCENT keeps the bid stagnant, but raises the offer

… finally when they “adjust” the bid, I’m right there AT THAT INSTANT

liquidating … and that’s the green dot … if it was a red dot, the trade would

have been a loser … YOU HAVE TO BEWARE OF FALLING INTO THIS

SCUMBAG LP TRAP!

I didn’t realize yesterday, that there’s a “bigly & yuge” OPEC meeting tomorrow

concerning production quotas … I came into today “thinking” WTI oil would be

choppy & nondescript … it gets monkey hammered, followed by a bottom from

which we get a buy signal, and then proceeds to go straight up for hours

… straight down / straight up … right, good “thinkin’ there Chump!” … lesson

learned in oil … treat it as a crypto pair and go from there, cuz all of your

“thinkin’” will only lead to confusion … No trade in oil today, simply cuz I

missed the signal and fucked up … no sugar coating this … won’t happen again.

Over in crypto, a bullshit day in ETHUSDT, with about a $40 range, but for the

most part it’s been only about $20, as it yo-yos around the 2020 - 2040 area

… trips multiple times to both sides of that, which aided in getting buy signals

… “The Syndicate” doing a few trades, but not much to do with discounts being

few and far between … still, the trades were there … UP APPROXIMATELY 0.2%

on light volumes … quite frankly, I’m still steaming over the oil trade I missed

… onto tomorrow and OPEC, plus whatever crypto throws at us.

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

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

-vegas

CRYPTO DYNAMICS: ALL THAT MATTERS IS “MOMO & FOMO”

 

“The end comes quickly for those that FOMO!!”

We “arb scalp” cuz it’s available to us, and it has a very high probability of

success … it’s simply what the LP does on the MT4 without you seeing it and

it’s what every “arb” firm does on crypto “open order book” [OOB] platforms

… but instead of taking on all comers, I’m a bit more selective in my approach

to “arb scalping”, for the very simple reason I’m not laying off risk via a hedge

somewhere else, I want to take profit immediately from the trade … and the 2

most important identifying characteristics of a successful “arb scalp”, are

1) MOMO [momentum], and 2) then comes the inevitable FOMO

[Fear Of Missing Out] on the ensuing up move … with that kind of “wind at

your back” it takes little to nothing in terms of any up move on the primary

exchange platform [e.g., Phemex or Coinexx for ETH & XRP], to see a pop higher

on the IQCENT platform where we buy at a discount to spot … and when the

specs at IQCENT spot the move up, here comes the bidding, and in that pop

up I give it gladly back to ‘em … rinse / repeat / what’s not to like here?

I don’t want my readers to be confused about the TEMA & EMA lines … in the

classic sense, their respective crossover or crossunder doesn’t mean it’s giving

a “buy signal” … it means, when TEMA is ABOVE EMA, buy appropriate discounts

to spot, and with the MOMO & FOMO winds at your back, it won’t take long for

that discount to disappear and the market at IQCENT pops higher … there’s your

scalp! … sometimes you get discounts, other times you won’t, and that’s the way

the cookie crumbles sometimes, but it doesn’t mean to simply get blanket long

… and when TEMA is BELOW EMA, you leave the “arb scalp” trade alone,

cuz 1) probabilities drop significantly of a market pop at IQCENT … sure, you

can still get them, but it’s simply luck … and 2) the discount can stay a discount

while the price drops, then where are you? … it does you no good to buy a

discount and then watch ETHUSDT go down $15 in 10 minutes and still keep the

discount or maybe it comes in a little … so what? … the price decline has put

you into a hole! 

As a logistical side note … the Sunday blog 20 Day Range MA & MEDIAN values

I post every week, the New York session ranges and medians are from

7AM EST - 7 PM EST, as this aligns with GMT of 12:00 - 24:00 [0:00] in crypto

pairs … the other markets on the table are from 5 AM EST - 5 PM EST… Phemex

charting uses GMT as a default time, so I want my readers to be aware that the

end of the day comes when it’s 5 PM in Los Angeles on the west coast … unlike

other markets on the MT4, that go “sleepytime” when mid to late New York

afternoon hits, crypto doesn’t play by those rules! … keep this in mind when

evaluating the averages and medians for crypto pairs.

Then there’s the WAR that’s brewing between the FED on one side, and the

Ruskies & ChiComs on the other over gold, and it has literally RUINED the gold

market for “trading” … and the one-way action in gold,which is PATHETIC, is a

direct result of what’s happening … the ChiComs buy it, the FED then sells it

… straight up followed by straight down, rinse / repeat … there isn’t any

“trading”, no corrective activity, and the simple fact of the matter is, so many

traders have abandoned gold as a trading vehicle cuz there are much better day

trading and scalping activity available in other markets, like crypto … take

today’s FUBAR action in gold on the m1, and match it up with ETHUSDT

[Ethereum] … gold, a rigged market if there ever was one only goes straight up

or straight down … now look at Ethereum … what a difference being a

“FREE MARKET” is to traders … quite frankly, Fuck the FED and double for the

ChiComs … it’s there for all to see … and quite frankly the ChiComs are calling

the FEDS bluff, and buying every ounce in sight and don’t care about price

… oh that’s right, they have a CNTRL-P machine too, don’t they? … and they’re

looking to bankrupt the FED and destroy the gold cartel of the

FED / LBMA / COMEX, and force them to default on deliveries and EFPs

… December delivery for futures should be very interesting when we get

there soon!

The bottom line is, that gold is about as shit of a market for a trader as you can

get … I sure as Hell don’t see any “trading”, like you see in other markets

… where the fuck is it? … well, it’s gone cuz the specs are gone! … maybe

trading come back some day, but right now IT STINKS! … and for that reason

come tomorrow, I’m back in crude oil, although I’ll be in WTI and leave Brent

alone for now … given what’s available for us to trade in the PAMM, and the fact

that the TEMA & EMA algorithm gives a much better picture of MOMO & FOMO

than before, oil is the only thing left for us … granted, it’s a pig [like all of ‘em]

that on some days stinks to high heaven, but it also trades and has decent NY

session ranges … so, onto / back to / back to the future / let’s trade oil! 

No trades for the PAMM today … gold is literally lost as a trading vehicle … onto

tomorrow in WTI oil … the first 5+ hours of the day, and ETHUSDT had about as

small a range as you can get, coming in around $20 … then BTC took off, and

so did ETH … amazing what happens everyday when about 10 AM EST comes

around, cuz that’s the time traders on the west coast check in for some good old

fashioned MOMO & FOMO … and today didn’t disappoint!! … I need a forklift to

haul all of the ETHUSDT trades for “The Syndicate” … we’re UP APPROXIMATELY

1.1% on medium volumes … “buy the discount when appropriate, SELL THE RIP!

… CANT DO THIS in gold cuz it won’t trade … sometimes we get it in crude oil,

but there the TEMA & EMA act more like buys on crossovers, cuz there’s only one

place where we can do “arb scalping” … 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 LP CREDO: STEAL AS MUCH AS YOU CAN, ANYWAY YOU CAN

 

“Picard is not happy with his fill!!”

There’s a reason why I keep writing about brokerage houses and liquidity

providers [LP] … there is no such thing as a “market” [cough, bullshit, cough]

in the traditional sense [excluding crypto] and meaning of the word … supposed

“fun-durr-mentals” are a fantasy land filled with delusional thoughts between

your ears, where “supply & demand” fight it out in the marketplace for

supremacy … in fact, there are only POLS, central bank Apparatchiks, and the

scumbag banks who do their bidding … supply / demand / trend is what they

say it is, and since they interject themselves into every single financial

transaction [excluding crypto] as a middleman [spot, futures, & CFDs], the

scumbag bank LP [or sometimes HFT] buys when specs sell and sells when

specs buy … and depending on that “order flow”, which in the great majority

of cases is determined by the very same banks cuz they’re “experts”, you’re

gonna experience the “pain trade” … and that’s “”buy high and sell low” which

from the bank’s perspective is the “natural order of things”.

And while you sit there and try and figure out imaginary “fun-durr-mentals”,

the scumbag LP is gutting you like a fish for dinner … whether they play the

“variable bid/offer spread game of bait & switch”, or simply set the “slippage

meter” on TRIPLE FUCK YOU MAX, and in the process introduce you to

“mystery ticks” UP in the offer when you buy or “mystery ticks” DOWN in the

bid when you sell, the bottom line is they are ripping you off wherever /

whenever they can … and quite frankly, it’s like entering a swimming race with

an anchor tied to your waist!

Knowing how your brokerage house makes its money is an important first step,

but different markets have different priorities at different houses … you can’t

assume that any market gets treated the same across houses … and if all of this

is news to you, then get your head out of your ass and wise up! … trading is not

about figuring out which way a market is gonna go … that’s for B-School

Chumps and those who have “guru-itis” … trading should be about knowing

how “order flow” is determined and how you can take advantage of that! … and

in the process, your sworn enemy, the scumbag LP, becomes your friend as they

end up working for you and not against you … and once they “spook” those

specs on the wrong side of the trade, you give them what they want while

“ringing the register” and then come back again later … “in a world that changes

its mind every 10 minutes, this is the only CONSISTENT WAY TO MAKE MONEY

TRADING! … it’s the essence of being a “floor trader” back in the day of the pits,

and it’s why people spent hundreds of thousands of dollars to become a member

and stand on the trading floor … it wasn’t cuz they liked Murder, Illinois or the

culture of stupidity of a large city … and the dirty little secret is, trading

conditions are far better now than back then, and it’s light years easier to trade

now than it was before.

Now that we’re all in the internet trading paradigm forever, and banks can

remain private, anonymous, and secretive in their trading operations, it’s

critically important to be able to “sidestep” their criminality and not get caught

in the daily “Scumbaggery & Fuckery” for which they are famous for creating

… and while crypto manipulators are simply “whales” who have more money

than brains, and unlike their counterparts over in traditional markets who

manipulate to PUNISH, NOT FOR PROFIT, crypto “whales” have a unique

fingerprint to their actions they’ve learned from their FX masters … crypto

“whales” are looking to profit from their manipulations, and they want to do it

to 1) get the best prices for themselves that the collective spec community will

provide while not upsetting the market with their bigger volumes, and 2) make it

happen as fast as they can!

COMMAND DECISION TIME

Outside of crude oil and gold, I literally can’t take traditional manipulative

markets for one more fucking second! … this bullshit today in FX is sickening,

and the manipulative juices unleashed over the weekend after they goaded the

Chumps to the slaughter late last week, a classic “pump & dump … can anybody

find an uptick? … nope, not ‘til the last spec pukes their longs, and the banks

find themselves long again, and suddenly “rally mode” will be in vogue again.

I hate doing this! … this fucking “Whack-A-Mole” game of attempting to not get

screwed by a house & their thieving LP’s a constant irritation in the trading

process of 1) finding a market that moves, and 2) one that has halfway decent

bid/offer spread with little slippage … quite frankly going forward, I don’t give a

shit if all FX pairs have 500 PIP ranges every fucking day for a month, I am

simply not interested in getting “jacked around” with ZILCH range days, then

C-4 explosions, then back to sleep again … fuck that! … and of course, crude

oil and gold are trading pigs with warts, blemishes, and can stink, especially

gold … gold can’t be traded consistently yet cuz the ranges are horseshit and

the FED still runs the short manipulation scheme … that leaves crude oil, where

the ranges have recovered back to the $2.50 range every day, and if I simply not

buy any uptick or sell any downtick, cuz if I do I will get gutted like a fish for

dinner, I think we’ll be OK … not pure scalping, cuz you can’t do that at Coinexx,

but VIX is good enough it shouldn’t matter with slightly longer day trades via the

algorithm … let’s hope the crooked LP can keep a 2 cent per bbl bid/offer spread

and doesn’t do anything stupid.

No trades for the PAMM today … Cable a disaster with no action whatsoever

… screw FX, I’m no longer interested … over at IQCENT, you can always scalp

EURUSD, it’ll always be there if things get super slow in crypto … another wild

and wonderful trading action day in crypto, with XRPUSDT [RIPPLE] leading the

way … since I came in around 5 AM Caribbean Paradise Time, a very nice 350

tick range that saw a round tripper … from the highs to the lows and then back

to the highs … really great trading with a 1 tick spread and no commissions

… for “The Syndicate”, shiploads of trades in XRPUSDT, and we’re UP

APPROXIMATELY 0.5% ON LIGHT VOLUMES … volumes will increase here

shortly … onto tomorrow.

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

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

-vegas