“Trading defined!”
And once again, all traders across the world learn, that no matter what the news
flow is, no matter how bad the actual news is, no matter how rotten the economic
cycle, no matter what hack Apparatchik ChiComs says, and no matter what Trump
tweets, only 2 things matter; 1) who’s long & who’s short and which of ‘em is
“hurting” right now and has the knife at their throats, AND 2) say whatever you
want, but the “80/10/10” paradigm stocks are in and have been for decades
remains in play thanks to government [the FED & the “Plunge Protection Team”
(PPT)], other central banks, and corporate buybacks.
Practically every day for over 4 decades, I’ve heard about how the DOW30 is
going back to 600, or the SP500 back to 150, or the NDX belongs at 1,000, and that
the sky above is about ready to fall, and fall hard … maybe at some point it does,
and quite frankly if it does so what? … I was there, right smack dab in the middle
of the ‘87 crash … am I still here? [physically sure, mentally? … well, the dog says
he needs to say a few words!] … did the world survive? … so, you gonna base
your trading career on “catching” the next big crash? … good luck with that, cuz
we got things in play that weren’t there before, and it will prove to be a very tall
order. Today, just another day that stretches back 32 years into the past, and
surely [until the FED disappears] into the future … it’s an “80/10/10” market, so if
you can sidestep the back “10”, that cargo ship filled to the top with cash is
waiting for you … do any other markets give you this advantage? [Hint; hell no.]
With the “Traders Course” [TC] days away from being released, I’m here to tell
you that 1) mental toughness, 2) discipline in following the various algorithms
contained in the course, and most importantly 3) following the “Hoover Dam”
directions without adding or subtracting anything will be your toughest
challenges … “hey, been there done that, and I know how hard it is to put money
on the line where you had nothing to do with the development of the end product
… I know from experience how hard it is, cuz it took me 3 frickin’ months to
follow my own trading floor algorithm back-in-the-day … and what happens is
that your brain fights the algorithm, cuz you get these “feelings” that it just has
to rally or break, whatever the case … only it doesn’t and ends up stuffing you
into a garbage bag ready for delivery at the local landfill … instead, you need to
train yourself to be in rhythm with the algorithm, so that your brain is anticipating
the next move you’re gonna make when you get the signal … and the profits that
will flow, will be the positive mental feedback to get you to say, “well hell yes,
let’s do this again & again”, and all the other shit you used to do that got you into
trouble, that’s gone from the trading equation, and with it goes the stress of
trading.
But I’m here to tell you why the demo is so important … treat it like real money
… and when the time comes after familiarization of 1) the MT4 platform and its
functions [Newbies], and 2) you trade the algo and make money, the same
feelings and thinking that went into the demo is EXACTLY like that in the real
account … bottom line is this: “forget the money, and concentrate on the trade
and implementation of the appropriate algorithm … do this correctly, and the
money flows like the Nile river! … do it the other way around and only think
about money, and you’ll never elevate yourself to trading success, cuz we each
have our ceilings when it comes to cold hard cash”.
I want to emphasize, the TC is for both traders [scalpers / day traders] AND
position traders [HR 1] … since the algorithms run on the MT4, and since we’re
dealing with derivatives on derivatives, and we have to deal with scumbag LP
banks, the only thing traders have to worry about are 1) a CONSISTENT bid/offer
spread in the market(s) of their choice, and 2) how much slippage and general
“scumbaggery” do they have to put up with … as we’ve seen over weeks and
months via Turnkey, both simply get worse and worse with each passing day
… and yes, position traders have the same concerns in a general sense, but they
have one additional worry that traders don’t have … and that worry is “vig”
charged each and every day through rollover … and mi amigos, it can get quite
expensive, cuz from the scumbag bank perspective they want you to “trade”,
not position … but if you do position, they’re gonna charge you an arm & a leg
over what futures contracts offer, and thereby make money off of you via that
route … question is, is there a solution to this problem, and the answer is YES!
For those interested in the TC for positioning only, I need only remind you that
3 of the largest brokerage houses in the world, 1) Fidelity, 2) Schwab, &
3) E-Trade, now offer completely free commissions on all stock, bond, & option
trades … I will also remind you that almost all of our 10 markets [8 for sure, and
not sure about GBPUSD & EURGBP] offer ETF’s [Exchange Traded Funds] or
ETN’s [Exchange Traded Notes] as stock “proxies” for various financial
derivatives … there are the SP500 “SPDR’s” for the DOW30, SP500, & the
NDX100, and there are ETF’s or ETN’s for the DAX30 and the Hang Seng 50 or
33 … there are also regular and leveraged crude oil ETF’s as well, from both
the long and short side … in other words, you can trade the “proxy” ETF’s or
ETN’s via stock trades that are commission free, and take your position
algorithm signals from an MT4 demo that never expires … you win on all
counts!
You could also do this from the traders side, but you won’t get the leverage via
ETF’s or ETN’s, that you get from an offshore broker … so while yes, you could
do it, I’d rather do it from the offshore brokerage side via the MT4 … oh, and
let’s not forget that all 3 of these brokerage houses will issue 1099’s for U.S.
customers at the end of the year, so you get to deal with that, while most if not
all offshore brokers allow deposit/withdrawal via crypto with NADA for reporting
… this isn’t an opinion, this is simply stating the facts.
As most of you know, I’ve had it up to my eyeballs dealing with Turnkey … quite
frankly IMHO, they’re a “bucket shop” that deserves no business … here’s why:
1) the quoted bid/offer spreads in EVERY MARKET are pure illusion … only in the
slowest of trading conditions will you get filled near the bid [selling] or the offer
[buying], but you’ll never get the price that was quoted. 2) that leaves horrendous
slippage, especially in the stock indices, gold, and crude oil, and they take
advantage of clients by condoning this from their scumbag LP’s. I have theories
on how they derive their “cut” from these shenanigans, but they’re only theories
since I’m not privy to their operations. 3) The number of “competitive” markets
they offer, versus other offshore brokerage houses is slim and getting slimmer by
the week … crude oil, and the Hang Seng Index are the most egregious, with
some days seeing bid/offer spreads far in excess of every other house on the
planet … in other words, they’re a cruel joke … even gold now, has become a
market where they’re an “also ran” … nothing special but the horrendous
slippage. 4) Their customer service is among the absolute worst in the world
… chat is clueless and idiotic … the back office doesn’t respond to emails you
send them … they NEVER pursue with their scumbag LP banks your complaints
about fills … and even when on that rare instance they do get back with you, they
dont respond to your questions, but simply give you corporate “goobly gook”
that says nothing. 5) Since May, which is now almost 6 months ago, they have
not sent anyone email confirmations on daily trading, like every other legitimate
brokerage house in the world does each and every frickin’ day … since June, I
have been lied to on a consistent basis about when this will return … I’m tired of
the games and I’m tired of being lied to. 6) And finally, I find it more than a little
coincidental, that the no emailing of statements starts right around the time they
move their operations from London to Mauritius, a place where anything goes.
Add it all up, and nobody should have to put up with their shit … they used to be
a great house, and my guess is the founders sold it to a group of incompetents
now running it … can’t possibly be the founders did this to their own gig … in any
event, things are what they are, and it simply can’t be tolerated any longer.
So, should it be any surprise I’m switching the PAMM to another brokerage
house, and I’m telling Turnkey to go “pound sand”? … For current PAMM clients,
not to worry cuz this will be the easiest, most cost effective, and painless
“switch” you’ve ever seen … the “new” PAMM is already set up and ready to
trade, and ALL of the conditions we need for success we will get at our new
house … 1) low spreads AROUND THE CLOCK, 2) no commissions, 3) the
volatile markets I want to trade, and 4) a customer support manager if any of
you have any problems.
I’ve already made the “switch” in my own accounts, and it took me about 5
minutes total on my computer to do it … it took only one day, and it cost me
19 cents! … EASY PEEZEE & no hassle … and it will be like that for you as well
… tomorrow’s blog will explain how to make the switch AND/OR how to join our
“new” PAMM if you desire to do so. And because I don’t want to keep anybody
in suspense, our new brokerage house is FX CHOICE domiciled in Belize. It’s the
modern equivalent of Switzerland from yesteryear. This house is so far above
Turnkey in what it offers us, there’s simply no comparison.The link to their
website directly below.
In any event, I’ll have a lot more info tomorrow, including the markets I’ll be
trading and the algorithms from the TC I’ll be using. I want to reiterate to my
PAMM / MAM clients at Turnkey; “this will be the easiest switch you’ve ever seen
… I’ll give you step-by-step instructions tomorrow on how to do it … I’ve already
done it, so I know the steps that you need to do … after you do it, very soon
thereafter the funds you had at Turnkey will be in the “new” PAMM at FX CHOICE”
… seriously, this is a piece of cake. In addition, FX CHOICE has many more
deposit / withdrawal options available to clients.
So adios Turnkey, you’ve worn out your welcome, and worse you’re a bunch of
liars … and that can’t be tolerated in a brokerage house … I’ll also mention just
as a side note, that FXCHOICE has a minimum account opening of US $100, and
they have no restrictions on the account minimum for the PAMM as long as it’s
above $100 … I don’t have any restrictions either, but be aware that in some
instances, very small accounts in the PAMM might miss some trades because
they can’t be allocated correctly with overall capital in the master account … it
rarely happens, but I simply wanted to mention that it does sometimes happen.
Everything is in place at FX CHOICE, and I’ll be up and trading the “new” PAMM
probably by Thursday or Friday … obviously, I’m not giving Turnkey one more
trade in anything ... they’re kaput … onto much better trading conditions in every
dynamic, far superior customer service, and it’s time to start focusing on markets
for making money, and finally leave behind the brokerage house bullshit that eats
up our time and energy … we’ve been caught up in this pile of shit too long, and
it’s like we’re in effing prison trying to escape … no more! … I for one, am so
looking forward to this!
… until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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