I’M REALLY, REALLY LOSING MY PATIENCE

“I did, and it’s called ASSETS FX”

“How many days did that fucking take; five, seven, maybe a week and a half?” In any event, it didn’t take long, did it, for the “new” LP at ASSETS FX to begin the process of raising spread conditions in the DOW30 & SP500? I have warned repeatedly, given their track record of lousy CFD’s in the stock indices over the last 2 years [this is their 4^th attempt], that we would have to watch carefully to see if the LP could be trusted to keep trading conditions stable for customers; “of course not, that would be too fucking easy and give clients a good stock index to trade during U.S. hours. On some levels, these people are worse than the Clintons, and that’s saying something.”

You’ll remember, just a few scant days ago the DOW30 & SP500 were put on the ASSETS FX MT4 with spreads of 1.4 index points and 0.40 index points, respectively. Yesterday late morning, with dull trading conditions everywhere and not a damn thing happening, all of a sudden it changes. Below, a “snapshot” of the new quotes taken off my MT4.

Well, looky here; now we got 1.8 index points for the DOW30 and 0.60 index points for the SP500; throw in round turn commissions and the SP500 is untradable at a “net” cost of 0.7 index points [who the hell is going to trade this?], while the DOW30 “net” trading costs go from 2.4 to 2.8 index points. Too be sure, the DOW30 at 2.8 is still tradable, but it is their continued pattern of deception, lies, and ‘bait & switch’ that really pisses me off. EXIT QUESTION: “Does anybody out there really think this is the end to spreads being raised and money stolen out of our accounts for absolutely no reason other than LP greed?” To ask the question is to answer it.

Of course, the blistering email I sent off to the LP will be met with crickets, cuz bottom line is they don’t give a shit; same with the brokerage house. “Bitch all you want customers, we just gave ourselves a raise!”

So far, they haven’t touched the DAX30, probably because they have too many clients in Europe that trade it and they need to stay competitive with other houses for this very popular stock index; spread here has remained around 0.7- 1.0 index points, with a “net” trading cost of about 1.7 – 2.0 index points. Not the best in Europe by a long shot, but not anywhere near the worst either; above average and tradable. We’ll see what happens here as well in the days and weeks ahead.

Seriously, these people are contemptible, because they think we don’t notice or care about our trading costs and that they can just do whatever the hell they want; in a strict sense that is true, but it’s also true I don’t have to trade through you and can take my trading account someplace else, so go fuck yourself.

So, I’m not exactly in the best of moods this morning coming into the day; my fuse is short. And just for the record, I had to deal with the dog getting into it with the neighbor’s cat late last night, thus cutting into my beauty rest. “Look at me when I talk to you … what the hell are you doing? … how many times do I have to tell you he’ll kick the living shit out of you cuz he’s got claws that hurt? … and so, after peeing for the 407^th time yesterday, you decide to go looking for trouble? … hey, guess what dumb ass, you found it!”

And so, he comes whimpering into the house looking for Mommy, acting like he deserves a ‘Purple Heart’ for bravery cuz his nose got scratched by the big, mean, bad ass cat next door. And of course, Mommy pampers the living shit outta him with ‘goo goo baby talk’ and hugs and kisses as she puts a little antibiotic cream on the side of his nose while he’s all shivering and upset. “For Christ’s sake, it’s not even bleeding! It’s just a scratch.” [Ok, now who’s the bad guy, as 2 sets of eyes pierces me like bullets for being “insensitive”.]

Ok, hours later after our brave Comrade fought the “enemy at our gate”, he’s settled down and munching on a bacon Beggin’ Strip, and I’m tryin’ to figure out what happened as I partake in some medicinal Scotch on ice. Best as I can tell, it all went down something like directly below.

“All I did was call him a ‘Pussy’ and he goes all nuclear on me!!”

It looks like Comrade Merkel’s statements early this A.M. in New York about “hard Brexit” got some gold shorts to hit the liquidate button; this after, of course, the Asian session failed to produce a rally. This produced 2 moves to the upper RM=1 exhaustion lines seen in the chart below, about 2 hours and 40 minutes before the 08:00 New York open.

So now we’re after 08:00 and we get the first buy signal from the algorithm, and to be honest I’m not at all excited about buying this stuff at 1270.75.  The chart directly below.

And really, after a few minutes, I’m not liking the action in the marketplace cuz I don’t think we can vault higher due to the fact we got Fed Beige book out later at 2 PM. Yea, it’s a long ways away, and a lot can happen, but we already got an $11 range which is higher than what we have seen lately. All I’m looking for now is a short spike up to get out with a good fill, cuz I know if I sell [liquidate] after it turns around, me and another 5,000 traders will be hitting the button. On that little blimp up [orange arrow] I sell, and do get a decent fill, so my piddly profit is a little less than half a buck after commissions. It is what it is, and if this first signal is any indication of the rest of the day at this level [which I think it is], then it’s going to take a nice waterfall of some kind to get me long again today.

[Note: In case you haven’t noticed, I’m taking the screen ‘snapshots’ of my algorithm trades as soon as I close them; I’m doing that so you all know, at the time it is happening what I’m doing and thinking. I don’t want Skeptic Cat on my ass, emailing me and telling me how easy ‘hindsight’ is after the fact and ‘cherry picking’ a fill or some trade. So, get used to real time trade charts as they happen. (Unless you think I can somehow make data disappear off a chart on the MT4, in which case send me your address and I will send you some more tinfoil.)]

Directly below after a couple of hours [white/orange arrows were first trade], I’ve highlighted in blue another algo trade you could have made and made money, although I’ve chosen not to take it for reasons I said above. If you took it, then great.

From where I’m sitting, the day in gold is over; I could be wrong obviously, but I just don’t see [unless the Fed Beige Book produces some nasty surprises at 2PM] what “lights a fire” under gold to go higher and expand the range. Looks to me like “chop” the rest of the day.

Right now, I need the beach[“yea, you can come … but leave the damn cats alone, OK?] and some Vitamin C therapy [Corona & Limes]. You say it’s too early do you? “Well, it’s 5 o’clock somewhere!” is my response. I’m soooooo outta here. Until tomorrow …

Have a great day everybody!

-vegas

OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”

 

SPITTING INTO THE WIND

“So, you wanna a piece of me?”

We live in a world [financial, political, etc.] that is changing so rapidly, there are days when I just want to jump off and say “stop the spinning before my head explodes!” Two things today that “frost my cupcake”, and I got that look on my face like the dog above; “you pretend to throw the ball and expect me to run? WTF is wrong with you?”

The first is the crude oil pricing and spreads at ASSETS FX, where 2 things are in play today that I most definitely DO NOT LIKE; 1) increase of spread costs by 25%+ from 3 cents to 4 – 4.2 cents, and 2) this idiotic 3 decimal pricing by the “Black Pearl” liquidity provider [London] that does nothing more than rip customers off and place them at a bigger disadvantage when trading. So, why the increase in the spread? Because they can, and you’re not supposed to notice, so STFU and start trading. The 3 decimal pricing is nothing more than an attempt to pick buy/sell stops off from small retail specs who are trading, and serves absolutely no other purpose. None. This is a pure greed play by increasing the cost of trading for no purpose, except you’re not supposed to notice.

Those of you that have accounts at ASSETS FX, send them an email at the following; info@assetsfx.com and let them know you don’t appreciate what Black Pearl is doing, and tell them to pass along your criticisms to Black Pearl, and that you won’t trade it unless they stop. That’s the only thing we can do; stop the money flow where it hurts them is the only thing they pay attention to and understand.

My second bitch comes from LMFX, where all of the PAMM upgrades should have been completed 5 weeks ago; in other words, I’m getting the same old “tried & true” brokerage house bullshit of 1) “Everything Is F-ing Awesome, Baby?”, 2) the PAMM will be up “soon”, and 3) “Everything is F-ing More Awesome-er than it was before!” and thanks for your patience. “If I want bullshit, I’ll walk into a pasture full of bulls, Ok?” In other words, I’m getting stonewalled by these guys and have no idea what the hell they are doing, why they are doing it, what the delay is, or how long it will be.

What is extremely frustrating to me [and I’m sure others as well] is that in order to put together a PAMM, you need to do planning which takes time; then the brokerage house comes along, and along with the LP, changes the rules that made you want to partner with them in the first place. It’s like I’m just some chump who just hopped off the turnip truck and said “wow, looky here, a place to trade. Go ahead and rip me off, lie to me, and change your trading conditions, cuz I’m just some rube who doesn’t pay attention to things like you sticking your fucking greedy hands in my wallet. Yea, no problem.” Well, it is a problem.

What makes matters worse is that we all [U.S. citizens & residents] are being “sold out” by our government to the likes of the pukes at the CME, who make no doubt about it, don’t like the fact you can trade CFD’s and don’t have to use their futures contracts. The number of “offshore” [definition = non U.S. based] brokerage houses that accept U.S. clients grow smaller every day, as most offshore brokerage houses want nothing to do with U.S. clients because of the hassles of the U.S. Government. The ones that do accept U.S. clients [like LMFX] know this, and thus feel no pressure to keep their promises; “shit gets done when it gets done, OK?”

To put it all into context, we HAVE NO STABILITY AMONG BROKERAGE HOUSES AND/OR LIQUIDITY PROVIDERS, AND THE ONLY THING YOU CAN COUNT ON WITH COMPLETE 100% CERTAINTY IS THAT THEY WILL DO THEIR UTMOST BEST TO FIND WAYS TO EXPLOIT YOUR ACCOUNT FOR THEIR OWN PROFIT. If that means THEY LIE TO YOU 100% OF THE TIME, raise spreads indiscriminately, raise commission round turn rates, increase slippage on market fills, not honoring limit buy/sell orders, and raping buy/sell stops at every chance, well … THEN SO BE IT! And when I see it, I get greatly offended by it. I’ll have more on our gold PAMM tomorrow.

Other than that, “Everything Is F-ing Awesome, Baby!”.

And, of course, the entire world is on “hurry up & wait” as this is Central Bank week [no trades today]; markets churning, going nowhere, as we all await the “stupid shit” they will unleash in the next 48 hours. Thank God, nature isn’t nearly as fucked up as the financial markets find themselves in with being controlled by the 0.01%. The beach awaits … I’m so outta here with this mindless, senseless chop.

Have a great day everybody!

-vegas