THE DANCING “BAIT & SWITCH” MASTERS

 

“Scumbag Liquidity Providers [LP’s] master marketing plan!”

Of course, somebody “touched” somethin’! … another “bait & switch” by the

masters of “CON”, the ever present evil lurking on every MT4 or MT5 trading

platform, the scumbag LP’s … and while the bid / offer spread in BTCUSD at

Turnkey is better than before, it’s still a “crooked operation” of off market fills

cuz they can … “DUH!, market conditions, DUH!” is the mantra, but the reality is,

once you scan “open order book” platforms for the truth of the matter, you can

easily prove you’ve been had … not that they care, cuz they surely don’t

… thieves never care, they just keep thievin’ if you come back for more.

The thieves in BTC aren’t banks, they’re HFT’s … and if you think they’re there

to somehow give you “fair & honest” pricing, then I got farmland in the middle

of the Pacific Ocean for sale I think you’d like … can I send you a brochure?

… they are there for FREE MONEY, simple as that, and you are the source!

… besides complete LACK OF TRANSPARENCY & ACCOUNTABILITY TO ANY

TRADE, their business model closely resembles Vito Corleone’s back in the

day … “you know, we’re just here to “help” the community and provide

“services” for our efforts”!

And while you can justify trading BTCUSD at Turnkey, if the spread doesn’t get

any worse than what I’ve seen today [$5 - $25], cuz it’s still fractionally lower than

“gas fees” [commissions] paid on the “open order book” platforms for BTC, the

fill is still gonna be a rip off … plain & simple, there’s no gettin’ around it … it’s in

ETHUSD where Turnkey needs to “have a talk” with their LP or LP’s, cuz it’s in

this pair the robbing, mugging, stealing, & raping of orders, along with a

ridiculously high spread, are the most egregious and offensive … quite frankly,

I don’t know how you get up in the morning and look into the mirror and live

with yourself if you’re running this operation … and the worst part of this scam,

is they think we don’t notice the rip off! … unreal, simply unreal … cuz while

nothing is happening with ETH price, the spread remains about the same as the

“open order book” platforms … but as price starts to move anywhere up / down,

oh boy here goes the spread to blown out levels of anywhere from $6 - $8, and

they waste no time in making the change … your winners get cheated, and your

losers are compounded … and they think we’re just Dopes who either don’t know

what’s going on, or don’t care … and when they eventually go out of business,

they’ll be walking out the door and STILL wondering why … what a bunch

of FOOLS!

Want proof? … well, here ya go! … as I write, around 7 AM EST, crypto gets a

blast higher, and from my screen, here’s a screenshot of bid / offer spread in

ETH & BTC directly below.

And as you can clearly see, the BTC spread is about $11 … which is very good, but

it ain’t $5 like yesterday … on the other hand, in this price runup, ETH blows out to

$6.60 … “oh sure, I’ll pay $6.60 here at Turnkey, and decide not to trade on the

“open order book” platform [BINANCE, PHEMEX, et.] for approximately $2, and

just hand you thieves a FREE $4.60 / lot bag of money … wait, WUT!”? … no shit

“WUT”! … and they’ll sit there and deny the reality, and instead come up with a

ton of bullshit excuses why it’s “OK” for this to happen … “well OK then, go out

of business … see if I give two squirrel farts”!

So, ETH is out and it looks like Turnkey might be viable in BTCUSD … the key

word here is “might” … still too early to tell, afterall, yesterday the spread was at

$5 all afternoon & evening … today it’s at $5 - $25, flying around like a chicken

with its head cut off … who knows what comes next? … cuz before yesterday,

BTC spread could be anywhere between $5 - $100+, and change in less than a

millisecond … you go to buy it, and think you’re gonna get filled $5 - $10 higher

than the bid at the offer, and then look with absolute HORROR when the fill comes

back and it’s $60 away from that [or maybe even worse] … and as soon as you

buy it, the bid / offer goes right back to where it was one second ago … and no

matter how much you B.I. Itch to them and scream, your fill stands … of course

you feel “raped” & “mugged”, cuz you just were! … and so, THIS IS THE

PROBLEM WITH MT4 CRYPTO! … so, we’ll see what BTC does next … I do NOT

trust these assclowns one “Hoover Dam” bit.

And while I originally thought ETH might be a candidate to trade at Turnkey, unless

they discover religion real soon and get their shit together, that coin is definitely

NOT one we’re gonna trade … and it appears BTC is the far better crypto trade

choice … I’ll remind people, this has only come about in the last few days, and

apparently somebody figured out nobody but nobody is trading it and had an

original thought, and lo & behold, “Ma, I think maybe the spread is too high &

volatile for folks to swallow”!, and it’s gotten changed pronto … but still, it’s not

“ideal” but only acceptable, cuz you never really know what these thieves got up

their stinking sleeves that they’re gonna eventually try and pull over our eyes

… so, be a bit cautious if you’re gonna trade BTC at Turnkey, or any other

MT4 / MT5 platform.

Meanwhile over in ICU, both gold & Cable on respirators awaiting the FED at 2 PM

EST … in their respective conditions, let’s just have the funerals now and get it

over with … what a sorry ass group of markets that have been manipulated to

death.

As we move to late morning, even crypto has slowed dramatically from earlier, and

the entire financial universe awaits the Faculty Lounge Lizards from the FED at

2 PM EST … nothin’ is moving anywhere … and then here comes the “London Fix”

[11 AM EST] … and YUP!, just like clockwork, somebody got “fixed” alright by

those “fair & honest” LP banks … Cable, if it wasn’t so pathetic it would be

laughable, takes out a few buy stops just before the “Fix”, and some corporate

“Jimbos” get to buy some Pounds a little more expensive than first thought

… another “coincidence” I’m so totally sure, and that saves Cable the

embarrassment of finishing the European day with a range in the 50’s of PIPS,

and slams home another 60-ish PIP day … “The Widow Maker” this sure ain’t!

… and then there’s gold, another beauty … $14 range, and why bother it’s so

slow and pathetic?

No trades today in the Turnkey PAMM.

Into the PAMM mix goes BTCUSD, and hopefully the spread can behave enough

to allow us to trade it … as for Cable & gold? … who knows, they both have

turned into “meat grinder” markets, offering plenty of risk with very little reward

… that will change someday, but that day hasn’t arrived yet.

Over in crypto, PHEMEX has added 8 new coins into the spot & perpetual futures

… I’m a little disappointed they didn’t add “VET” [VeChain], but of the 8 added, 5

are under $5, meaning they have relatively small “gas fees” [commissions] on the

futures side relative to their respective daily movement … of course, PHEMEX is

“home” to the ZERO FEES spot trading, so on the spot side simply more offerings

of volatile pairs.

TRX today with a 1,300 tick range, with a hefty portion of that coming in the Asian

session … “Asia flies, the rest of the world dies”! … true more so in crypto, as

Mrs. Watanabe & Gal Pals churn the waters and have piled into crypto with gusto

… from the European open however, a rather different story some 10+ hours later,

as TRX has been yo-yo-ing around in a tiny [for it] “Flying Wedge of Death” [FWD]

of about 500 ticks … multiple algorithm signal trades today in TRXUSDT for

“The Syndicate” … we’re UP SLIGHTLY LESS THAN 0.20%

FED at 2 PM EST, here coming up shortly … I doubt it affects gold & Cable, but

we’ll see … outta here early … “the future’s so bright I need sunglasses”!  😎

… Onward & Upward!! 

-vegas

MAYBE THERE IS LIGHT IN THE ABYSMAL MT4 CAVE

 

“I hope you like sleeping on the couch!”

“Asia flies, the rest of the world dies”! … but even the Asian session can’t save

gold & Cable, 2 of the most pathetic trading vehicles of late I’ve ever seen for

markets “supposedly” being volatile … now, they’re nothing more than “meat

grinders”, and you’re the meat for the scumbag LP banks! … why should today

be any different?

But maybe there’s a glimmer of light at the end of the MT4 cave … just when I’m

at the point of metaphorically burning the place down, here comes Turnkey with

a glimmer of hope in crypto … Turnkey, along with other offshore brokers in the

NO KYC camp, do offer crypto in BTC, ETH, BCC, & LTC … they all used to offer

XRP, but they’ve all delisted it in the name of caution, pending SEC litigation

against Ripple … the 4 above are all standard fair across these brokers MT4

and/or MT5 platforms … the problem usually isn’t round turn [RT] commissions,

it’s the bid/offer spread … going over to the largest perpetual futures market for

these pairs [BINANCE], to make a long story short, the “total cost to trade”

Ethereum [ETHUSDT] is about $2.10 ± a few pennies either side … going over to

Turnkey, the usual “total cost to trade” is between $1.50 - $2.25 ± a handful of

pennies either side … of course, BINANCE is an “open order book” platform, and

Turnkey has scumbag LP’s … for the past couple of days, studying the two in

tandem, while there might be some pennies difference, anybody’s ability to make

money trading ETH isn’t gonna be decided by 5 - 15 cents … slippage seems to

be minimized, but don’t kid yourself, scumbag LP banks or HFT’s aren’t here to

offer “great trading deals”, they’re here to steal money … and steal it they will,

but as long as it’s pennies, I get it … if they steal dollars, there’s gonna be a

problem I can assure you.

For their part, Turnkey is caught between a rock and a hard place … there are only

so many LP’s making markets, and in crypto it’s probably only one or two HFT’s

… piss them off, and you won’t be offering crypto as a brokerage house cuz they’ll

blackball you! … on the other hand, as a broker, you got to pay them for the

privilege of them offering LP services, even if they are complete shit … and if

customers aren’t trading them, you better figure something out or you get bled to

death … so I understand the difficulty Turnkey and others face, when offering

crypto on LP based platforms … as for the other 3 pairs, for one reason or another,

they aren’t competitive enough versus “open order book” platforms to even

consider trading … maybe LTC, but it doesn’t move enough … only ETHUSDT is

competitive and volatile enough to consider.

Quite frankly, I’m getting “sick & tired” of being sick & tired waiting for either gold

or Cable to frickin’ move … ANYWHERE would be nice! … their respective trading

conditions are simply awful at present … I don’t know how Turnkey will treat us

trading ETH, but we’re gonna find out via the trading algorithm buy signals come

right now … I’m gonna go “light” at first and judge the fills, in case they are horrific

… I don’t think they will be, but if they are, a whole lotta people are gonna get an

earful … besides, I don’t see how it can be any worse than gold / silver, and we

aren’t getting “Mr. Jack Squat” from these two … so, for the PAMM, let’s see what

ETH can do … ETH isn’t as good a trading vehicle as some of the alt-coins, like

TRX, ADA, ONT, etc., over on the “open order book” platforms at PHEMEX &

BINANCE, but it isn’t chopped liver either … the only real open question is, “can

the LP’s in ETH be satisfied with only stealing pennies, and leave the dollars

alone”? … let’s be brutally frank here shall we? … liquidity providers [LP’s] are

THIEVES, pure and simple … their “vig” is like an ATM fee, only theirs is like

Vanna White spinning the “Wheel of [Mis] Fortune” to see how badly you get

clipped, and the slots favoring us on that wheel are few … so, here we

come Vanna!

Welp!, first test with Turnkey failed miserably … here a little after 10:15 AM EST.,

ETH explodes $60 higher … and there goes the spread to upwards of $8+ … I’ve

already told them this is a joke … simply greed taking over, nothing more nothing

less, and that doesn’t even take into consideration SLIPPAGE! … can you believe

these asshats? … and if you wanted to, you could trade this at BINANCE OR

PHEMEX and pay about $2.50 … apparently, Turnkey doesn’t know that $2.50 is

LESS THAN $8, or more importantly, that neither you nor I will notice giving them

money for nothing … and maybe, just maybe, that isn’t something we want to do!

… like I told ‘em,  in 5 years you won’t be around to even care what crypto does, c

uz if you don’t get your LP’s to get their shit together and be competitive, you

won’t be in business any longer! … it’s up to you fellas, decide will ya?

But then after talking with Turnkey about this in ETH and also BTC, the truly

“Bizarro World” of crypto shows up [maybe George Costanza’s HFT?], and lo

& behold the bid / offer spread in Bitcoin [BTCUSD] has gone to $5 AND STAYED

THERE! … this is truly bizarre, and since crypto has come onboard at Turnkey

last December 1, I’VE NEVER SEEN THIS … EVER … make no mistake, if the

spread would stay there, Turnkey would be the “premiere” place to trade

BTCUSD … “open order book” or no, the “gas fees” on BTC are about $50 - $75

wherever you go, and even “IF” they stole a few bucks on the fill, it would still be

acceptable … now, after calling back about this wonderful development and

inquiring “WTF is going on”?, everybody is tight lipped and saying NADA … and

since then, BTC has rallied and broke twice for about $400 and the spread has

stayed at $5 … I can’t explain it, but told them whatever they did or didn’t do,

DON’T FUCKING TOUCH ANYTHING, OK?! 

And here we are, these last hours seeing BTC with a $5 spread and the trade is

active and volatile, so it’s not like it’s just sitting there like Cable or gold

… seriously, I’m rubbing my eyes to see if I’m dreaming!

The “proof is in the pudding” will come tonight and tomorrow, and the $64,000

question will be, “can the BTCUSD bid / offer spread STAY AT $5”? … if it can, I

will surely be trading BTC for the PAMM … but before we pull out the

“sparkling wine” grape juice, remember who we’re dealing with … I’m hopeful,

and got my fingers crossed, but we’ll see how it holds up … BTC has dropped

another $300 in the last 10 minutes or so as I write, and the spread is staying

FIRM at $5 … this would truly be great news if it holds, but I’m fearful of the old

“bait & switch”, where they keep the spread here for a couple of days, and after

getting new traders to come in and trade it, we wake up some morning and it’s

back to the same old shit of a “nutso” spread, that could be $5 or $70+ within a

millisecond … and if that indeed is what happens next, ear drums are gonna get

busted! … but, let’s be positive for the moment, and wait to see if this is real or

total bullshit.

Meanwhile, it’s the same old story, different day in Cable & gold … and with

tomorrow’s FED meeting coming at 2 PM ET., don’t look for anything to happen

tomorrow until 2 PM EST, long after Europe is closed … can these 2 markets get

even worse than they are now? Gold today with a $12 range and Cable the usual

60 PIP-ish pile of manure we’re used to … simply awful is all I can say. No trades

today for the Turnkey PAMM. 

Crypto sees most of the day’s range come in the Asian session … and after Mrs.

Watanabe & Gal Pals turn off their crypto platforms and head to the nearest

casino, trading action slows considerably … TRXUSDT has a respectable day’s

range of about 1,700 ticks, but since Europe opened and now 12 hours later it’s

only seen about 750 ticks … still good, but very wicked price action.

Multiple trades today in TRXUSDT, and “The Syndicate” is UP FRACTIONALLY.  

This was a tough day … algorithm signals were unusually good, but quite a few

of them got blown throw like a chainsaw cutting a stick of soft butter … and it’s

“elevator UP” fast & vicious while you blink your eyes … it’s been a while since

I’ve seen this kind of action, and let’s hope it’s another long while before it comes

back! … “Geesh, gimme a chance to buy it will ya”? [Nope!]

As I finish today, BTC spread still at $5 … I can’t help but look back and realize, I

go B. I. Itch at ‘em about ETH earlier today, and somebody somewhere suddenly

“fixes” BTC … “wait … WUT?”! … go figure … still looks like they haven’t

touched anything! … outta here … “the future’s so bright I need sunglasses”!  😎

… Onward & Upward!!

-vegas