GREED, FEAR, & FOMO … OH WHAT A MIX!

 

“5 minutes in the crypto space should convince you of these wise words!”

I’ve literally never seen anything like the volatility we see now in crypto pairs, and

I’ve been around since the beginning of the modern era of financial derivatives

trading … the only thing that comes even close is the Hunt brothers silver squeeze

in 1979 - 1980 … but, that was a much different dynamic revolving around futures

… and in the end, silver trading was essentially ruined because of it … fast

forward to crypto, and see my shockingly shocked face, as we enter the paradigm

of crypto trading that is sucking the air out of every other market known to man

… and the hot money is flowing to it like moths to a flame!

Of course BTCUSD leads the way, but plenty of others on a percentage basis make

BTC look slow … is that possible? … Yup, and one glance at the

“Thelma & Louise” in Ripple [XRPUSD] today will make your head spin

… today’s range so far about 1100 points to the downside, or about a 40% haircut

from an earlier high seen in the Asian session … thanks so much to the

Apparatchiks at the SEC for keeping us all safe from financial shenanigans

[except of course those involving Squid & JPM cuz it doesn’t matter when

they do it]!

BTCUSD today, another fun filled get ripped off from the HFT LP … I swear, they

sure learned the LP biz the right way from the scumbag LP bank LP’s over in

FX & “Stock Bellies” … today’s bid/offer spread a nightmare, seeing the entire

day between $15 - $40+ … “hit the offer to buy, and oh looky here a fill $10+ higher

than the offer … hit the bid to sell, and oh looky here a fill $10+ lower than the bid

… y’all having fun yet? … directly below the PROOF, the order box at Turnkey

during the day … nothing magical, simply thieving at work cuz they can … duh,

market conditions, duh!, remember? 

I’m pretty sure whoever it was that got that uptick spike from hell, is really happy

he clicked the buy button … “folks, I can’t make this any simpler … YOU CANNOT

MAKE CONSISTENT MONEY TRADING BTCUSD WITH A $20 - $40+ BID/OFFER

SPREAD! … you might as well be in Las Vegas playing Keno, cuz all they will do

is grind your account down … the brazen balls of these assclowns pretending this

is a “market” is insulting … this is thievery, and it makes the LP Goons over in FX

look like Pikers! 

Looking at the other pairs today, all a hot mess of boiling shit for spreads that

are complete ripoffs, except LiteCoin, which for the most part until SHTF with

new lows for the day taking out the $122 level on the downside, saw a spread

between $0.10 - $0.23 with some very brief occasional blimps … at the new low,

that spread ballooned out to over $1.20 … and yup, right at that low the trading

algorithm (MODIFIED TUNNEL TRADING [TT]) gave a buy signal off an exhaustion

level … Oh boy, goody goody, am I supposed to pay about a $1.25 over the bid

low at $119.51 and get long at 120.75? [and that assumes I’m on the low bid … if

I’m coming off the low it’ll be far worse!] … hell no, you’re an idiot if you click

the buy button, so you simply have to pass on the signal … outside of that

clusterfark, LTC not in “buy mode” from algorithm parameters … and as we head

into the New York afternoon, it still looks weak and moving sideways … can you

say “Loser Formation”?

No trades today in the Turnkey PAMM / MAM … I can’t make the trades if either

the algorithm doesn’t call for any, or the scumbag HFT LP’s refuse to make a

legit market with an honest spread … and don’t even go there with the “duh,

market conditions, duh!, bullshit they spew at every opportunity … they’re thieves,

and when they see an opportunity to screw you with a mystery tick fill [buy or sell],

they most certainly will while padding their own pocket in the process … and if

you’re not on an “open order book” platform, where all orders can be seen by

everybody, how do you know they’re being honest? … trust me, they ain’t!

For “The Syndicate” today, multiple trades in LTCUSD, and we’re UP SLIGHTLY

MORE THAN 0.28%

The difference here of course, is that we’re LP’s [market makers] over on

PHEMEX … LTCUSD I think the “perfect” crypto trading vehicle … it has

everything I’m looking for in a crypto pair to trade, NOT DATE THEN MARRY!

… and since we get paid a “maker” fee on trades, if you know what you’re doing it

makes profits come a helluva lot easier!

Over on the PAMM / MAM, we are at the mercy of the HFT LP’s, and we get no

such paycheck for trading … there’s a meaningless commish on each side of the

trade … for those of you who would still like to join “The Syndicate”, the door is

still open … it’s still “informal” cuz we’re small, and it makes no sense to me to

go through all the bullshit [there are no money management programs I’m aware

of on “open order book” platforms] of dotting “i’s” and crossing “t’s” and

spending the money while we’re small … and yup, there’s an element of trust here

as well, something nobody has to worry about in a PAMM / MAM hosted by a

brokerage house … when my participation allows me to pay for everything, that’s

when I’ll jump through the hoops … “The Syndicate” has morphed somewhat,

first thought about then made real when BTCUSD was a helluva lot lower than it is

now … there’s no way you can make a market in Bitcoin, cuz if you get stuck the

“taker” fee is a killer to profits, not to mention any loss on the trade … the other

pairs, like LINK or XRP don’t have what I call “tradeability”, meaning up/down

action consistently … they’re more “one way streets” of roller coaster hell

… LTCUSD is as close to perfect as I’ve seen! … so, if you want to join us, email

me and let me know and I’ll send back some info to you … ‘nuff said.

Each day that goes by, you just have to wonder if today is the day the

“Grim Reaper” comes for BTC, like it has for Ripple, and by extension the other

crypto pairs as well … an awful lot of greed & hype built into price already, and

as we know from previous bouts, the “selling tsunami” when unleashed can be a

killer … whales keep taking this shit higher, higher, and then higher still, without

much of any “backing & filling”, except for Ripple which has gotten mauled to

death by the SEC … I’m as bullish as the next guy on crypto over the long term,

especially Bitcoin, but recent action should have your eyes wide open to sudden,

massive selling pressure coming out of nowhere … get caught up in that, and it

makes for an ugly day indeed … and yes, I said before, crypto IS sucking the air

out of everything else being traded, and you just have to wonder how long “LONG

Dumb Money” is gonna keep their positons without getting steamrolled into the

asphalt … cuz you should know as well as me, not anywhere near all the bulls

will come out of this clusterfark alive and financially healthy … there’s gonna be

casualties everywhere … just make sure you ain’t one of ‘em!

Here in the New York afternoon, LTC along with BTC are “dead cat bouncing” … a

little short squeeze by the Wall Street criminal types I’m sure, setting off some

light buy stops so they can take the other side … with today’s bloodletting in LTC,

is it too much to ask for the “Chuckleheads” tonight in the Asian session to sell it

into a hole? … it would surely make for a nice turnaround later in the day.

I’m outta here … until tomorrow … I’m full steam ahead! … Onward & Upward!!

-vegas

ANOTHER GRIM REMINDER OF POSITIONS OVER HOLIDAYS

 

“The face of your HFT LP when crypto trading most days! … defeat the clowns!”

What my biggest fear coming into today, after the Christmas Holiday

“Pump & Dump” $4000+ by the crypto “whales”, is exactly what is happening in

Bitcoin [BTCUSD] … it’s literally impossible to trade this shit given $20 - $40+

spreads at Turnkey, unless you want to give money away … makes ZERO

difference if you’re buying/selling, cuz once “IN”, getting out without suffering

1) huge slippage, AND 2) a widening spread that does you no good, but makes

the scumbag HFT LP richer, richer-er, & richer-er-er-er every time your finger hits

the buy/sell button … your profits get severely short changed, and your losses

get salt rubbed in ‘em … screw ‘em! … all the while BTC isn’t really moving

anywhere! … it’s been a classic Holiday “Pump” by the “whales”, and since the

Asian open a “Flying Wedge of Death” [FWD], grade A clusterfark of “Dump” to

the Chumps of the Earth, retail “gobble gobble” specs … what a bag of shit

… “Merry Christmas & please come again soon when your $600 “Free”

Gubermint check arrives”!

No pricing today even close to acceptable in BTC … sure, got plenty of signals

… do I want to buy with a $30 - $40+ bid/offer spread? … hell no I don’t, cuz I

know if I do, they’ll grind the order worse than a Las Vegas slot machine … and

my fear is, if the “whales” keep pumping BTC higher, the hell to pay when it’s

over will be immense … far worse than what gold saw in August/September after

hitting new ATH and then going “Thelma & Louise” muy mucho rapido!

However, not all is lost just cuz the BTC HFT “Assclowns” have taken over … cuz

an analysis of the other crypto pairs shows an even better trading vehicle than

BTC, and almost ALWAYS priced fairly with an excellent bid/offer spread that is

equal to or slightly better than most “open order book” platforms, and the RT

commission is meaningless … literally meaningless, coming in at a couple of

pennies … and the “Winner Winner, Chicken Dinner” is LiteCoin [LTCUSD]

… priced currently around the $130’s, at Thanksgiving it was around $70 … the

bid/offer spread at Turnkey is roughly around 20 cents [$0.20 ± a couple of

pennies], and the RT commish is under 3 cents per 1 lot LTCUSD, and a

1 lot volume = 1 * price … trading minimum is 0.01 volume lots, and MAX is 100.

It trades better than BTC, and isn’t subject to the “bat shit crazy” changes in the

spread, although, it has its moments like every other crypto pair so you can’t do

“stupid shit” or be lazy in your approach … the “MODIFIED TUNNEL TRADING

[TT] ALGORITHM” works better than anything you’ve ever seen or paid for in the

scalping / short term trading environment … quite frankly, the total cost to trade

LTCUSD is roughly equal at Turnkey, PHEMEX, and/or PRIMEXBT at around the

20 - 25 cent level … all 3 houses are NO KYC, the margins are different, with 10X

at Turnkey, 20X at PHEMEX, and 100X at PRIMEXBT … on a percentage basis it

moves farther and faster than BTC, so like I said, you can’t be doing “stupid shit”

like doubling or tripling up, or something higher and expect NOT to get carried

out “toes up” … sure, when BTC behaves, great I’ll trade it … but there are way

too many days like today, where the HFT LP’s feel justified in raising the spread

cuz they can … “duh, market conditions, duh! Horseshit” … screw that … so

tomorrow and going forward I’ll get a feel for BTC when I come in & watch it, and

if I don’t like what I see I’ll trade LTCUSD for the PAMM / MAM … now, if you’re a

“big trader”, you might find LTCUSD somewhat constraining cuz it’s “sneaky”

movement can sometimes lull traders to sleep, while there’s nothing “sleepy”

about BTC … IMHO, LTCUSD is a much better trade the smaller your account … if

you trade it any other place besides Turnkey, like PHEMEX OR PRIMEXBT, I’d

open a Turnkey Demo and put the algorithm on the demo and place my real

orders accordingly … from my own personal experience, dealing with the MT4

for charting & signals is far, far easier than messing with either the PHEMEX OR

PRIMEXBT charts and MT4 allows multiple chart windows for easy viewing

across time frames … and oh yea, the algorithm is currently coded in mq4 ONLY

so good luck in getting it on any other charting platforms that are proprietary

… and for the record, “Trading View” supports “pine”, not mq4, so it might be a

while until that computer code is available.

As I said, around Thanksgiving [remember 1 month ago?], LTC was in the

$70’s … today it’s in the $130’s … and it didn’t move just cuz of Bitcoin … plenty

of hard news out there, including a joint venture with Cardano [ADAUSD] … it’s

called a “velvet fork”, and you can learn about it via the YouTube link vid directly

below … about 10 ½ minutes long, but a very good and straightforward

explanation of a “velvet fork” and how it impacts both companies … it’s worth

the watch!

https://www.youtube.com/watch?v=lSF29Q-Uc7s

And while I’m generally happy with Turnkey finally getting crypto pairs, I would

hope the others, ETHUSD [Ethereum], Ripple [XRPUSD], Bitcoin Cash [BCCUSD],

and of course the “King” BTC would have consistently excellent spreads … sadly

they don’t … Ripple & Ethereum the biggest ripoffs, with Bitcoin Cash not far

behind … in other words, most of the time it’s not worth watching them cuz it

doesn’t pay to trade them … too “Hoover Dam'' expensive, and I hope BTC isn’t

joining them … we’ll see, only time will tell … and as we saw with the never

ending bullshit in gold with their overpriced & ridiculous bid/offer spread

robbery, never underestimate the ability of assclowns on Wall Street to get greedy

and ruin a market … certainly could happen to BTC as the price climbs, and then

what? … my guess is options on BTC become the big drivers of price cuz the

price of a single BTC gets way too expensive … just a guess, so we’ll see.

On the other hand LTCUSD these last weeks has remained remarkably consistent

with its spread, generally hovering right around 20 cents … yea, it can get unruly

sometimes when BTC goes “apeshit”, but it comes back from that very quickly

… overall, IMHO it’s the crypto pair to trade with the best value for your trading

dollar, and it gets serious attention from me for the reasons I’ve laid out … “so

BTC, it’s up to you “big dog”! … don’t mess with me or I’ll move in an eyelash

over to LTCUSD & kiss your ass goodbye … not gonna pay the ransom to trade

BTC when I don’t have to”!

Thanks to the bid/offer clusterfark in BTC today, no trades in the Turnkey

PAMM / MAM … no worries, though, cuz if it happens again we’ll be in LTCUSD

… money is money, so let’s get some!

For “The Syndicate” some LP market making over at PHEMEX in LTCUSD, and

we’re up approximately 0.12% trading on very light volumes … other pairs not

nearly as good as LTC, so we “date it”!

I’m outta here … until tomorrow … I’m full steam ahead! … Onward & Upward!! 

-vegas

SUNDAY UPDATE: THE CRACKS IN THE DAM

 

“How long have I been “Bangin’” the “Buy Bitcoin” theme?!”

Search the recesses of your mind, and go way back in history … a long time ago

in a universe far, far away! … “you know, last Thursday on Christmas Eve, where

at Turnkey BTC finished the day at around 23,400, not coincidentally before a

3 day weekend for Christmas that opens tonight at 5 PM EST [that’s New York time

for you “JoeMala” voters] … sure, what could possibly go wrong or happen over

Christmas, when nobody but nobody will care about crypto? … why, you’d have to

be a dope to think BTCUSD is gonna move at all … right? … can I see a show of

hands out there? … oh, that’s a lotta hands! … and golly gee whiz, that’s a lotta

specs out there short perpetual futures contracts in BTC on offshore exchanges,

cuz as we all know it just has to correct lower … and BINGO!, BANGO!, BOOM!, a

whole lot of that NASDAQ money made in tech stocks over the last year or so,

along with some “Green” from the steady stream of “crypto haters”, has

evaporated rather quickly [hours/minutes/ seconds!] ala a ride on the

“Thelma & Louise” express … reminder, it only hurts when you get your

liquidation fill! … goodbye $23,000 range, hello $28,000 & change for an ATH

[so far] of about $28,420 and we gotta a long way to go before the day is up.

And what you’d expect after a 4,600+ up move within 72 hours, now that the

shorts have experienced the FULL “big girl panties” wedgie, is the obligatory

[at some point you know it’s coming!] 1,500 dollar drop to kill some

“Johnny -come-lately’s” that are FOMO-ing their brains out … nothing new here,

this is free market “greed & fear” at work … what makes it so shocking today, is

that for a good 4 - 7 years traditional markets have been so overtly manipulated

by central banks & their BFF scumbag LP bank buds, that your sense don't

remember or recognize “free” markets … and with another New Year’s 3 day

clusterfark dead ahead, won’t this week be fun!

You’ll notice in the blog header, I now list 2 email addresses … the new addition,

realvegas@protonmail.com is the “official” email address I’m using over at

“Trading View”, most likely the best charting venue going … my handle over

there is appropriately enough “realvegas” [without the quotation marks]

… seems somebody else thinks they’re the real deal, so whatever, let them dream

away … I’ll be posting some algorithm charts over there, along with commentary,

but since I signed up today, I’m on “double secret probation” until I can prove

I’m a “good boy” by not violating “house rules” … what a bunch of bullshit, but

since it’s their gig, when in Rome do as the Romans … if you’re already over at

Trading View, follow my ideas and win a cookie! … don’t know yet how much I’ll

do there, but we’ll see.

For very long time readers I’m sure you’ll remember … but for the uninitiated,

about 15 years ago [± some months, I can’t remember exactly] I literally took

the internet by storm by publishing “Tunnel Trading” [TT], an offshoot from the

algorithm I used on the floor to make millions, with some modifications … I

created first the HR1 algorithm & then later for the HR4 … at that time, FX was

red hot and the ranges volatile, but the problem was that scalping, or short term

trading, was difficult cuz RT commissions were high and the bid/offer spreads

were obscene … thus the need for more position based algorithms that could

make people money … and believe me, there were plenty of people back then

that used the algorithms to make fortunes [you’re welcome!] … I had my website

called “tunneltrading.com”, and at the time I spent a lot of time on

“Forex Factory”, where my algorithms generated HUNDREDS OF THOUSANDS

views & comments … I had to eventually shut it down cuz thousands of people

per day were emailing me, with most either adding or subtracting components,

and “what did I think about that?” … today, a search of the metatrader MT4 public

library [on their website] and searching for “vegas tunnel trading”, and you’ll get

a long list of wannabes with their supposed “improvements” to my original

algorithm, that people still download and use today!

Quite frankly, the MT4 code is “out there”, and anybody with any brains can find

it if they search correctly … the problems though, are that 1) now we’re in an

entirely new paradigm of trading where RT commissions can & should be

meaningless, and bid/offer spreads in most pairs very tight, AND 2) ALL

TRADITIONAL markets are overtly manipulated by central banks & their BFF the

scumbag LP banks … and beginning especially after the 2008 financial crisis in

FX, and February 2016 in everything else, the original TT algorithms lost their

effectiveness … why?

EASY PEEZEE: “Today, manipulators seek to control volatility, especially

intraday volatility [IVIX] … traditional markets go from dead to “bat shit crazy”

and then back to dead again with frightening speed, thus leaving traders with the

“Loser Formations” and no way to make back any losing trades … FX especially

has seen traders leave in droves, cuz what good does it do you to see a range of

130 PIPS one day in the European session for any FX pair, and then the next it’s

33 PIPS? … you “scalp” and it goes nuts, and you position and it scalps you!

… Ughhh! … the only winners are the scumbag LP banks”.

But now we have crypto, and these markets are “FREE” from the clutches of the

central banks & scumbag banks like JPM & Squid that do their bidding … EXIT

QUESTION: “OK, back to “free” markets via crypto … do the TT algorithms work

well”? … do wild bears pee in the forest? … with some modifications I’ve made

cuz 1) I have better statistical data & models then I did back then, AND

2) adjusting for “bat shit crazy” crypto volatility, I now have fully functional MT4

MODIFIED TT algorithms for all time periods from scalper to position trader or

investor, for Bitcoin [BTCUSD], Ethereum [ETHUSD], & LiteCoin [LTCUSD] … and

yes, they work better than anything you’d pay top dollar for!

I’m in the process of writing the new “MODIFIED TT ALGORITHM” manual

… should have it done by the end of next weekend … I haven’t yet decided

definitely how the algorithms will be shared & distributed, along with other

content that make paying pennies per day seem ridiculous, but I’ll get to that in

the days ahead … and yes, the “scalpers algorithm” for BTCUSD is one of the

algorithms I’m using for the PAMM / MAM, that is in the package of “MODIFIED

TT ALGORITHMS” … I’ll be sharing much more in the days ahead … “so here’s

the deal for all of you struggling traders out there, along with those that are

aspiring to be a neighbor of mine here in the Caribbean: if you don’t think I’m

worth $6 per month [30 cents a day not counting weekends … they’re FREE if

you want to trade those days!], then fine, go do it alone or pay lots more for

ripoff scams you’ll be utterly disappointed in … do any of you work for free?

… didn’t think so … I’m simply using the power of groups to make the price

insanely low … I really don’t want to invade anybody’s wallet, cuz I know what

it’s like at the beginning of a trading career, or especially now with this hoax

Covid shit from the Chicoms … but I’m not giving it away either cuz that only

brings “tire kickers” and endless hassles for me".

Once the New Year gets underway, at some point yet undetermined, I’ll be

bringing on “Priscilla The Trading Gorilla”, one of my most loyal followers and

understudy on all ways vegas trading … trust me, you’re gonna love this! … so,

onto the New Year!

I had planned on trading Friday, and despite Turnkey’s “Holiday schedule” that

said Christmas Day would see “normal hours” in crypto, the entire space was

closed effective Christmas Eve at 5 PM EST until tonight … so, we lost out on

some good algorithm moves for the PAMM / MAM due to their stupidity.

Onto the week … I’m full steam ahead! … Onward & Upward!!

-vegas