“Grandma discovers options!”
I got my first look yesterday afternoon at PRIMEXBT’s new “Turbo PRIMEXBT”
platform for binary options … I like it, I like it alot, cuz it offers unique
opportunities to trade with very well defined and limited risk, over very short
time frames ... basically it goes like this: 1) pick your market, 2) how much do
you want to “bet” the market goes up / down [you pick which one] in BTC, with
minimum bet = 0.0001 BTC [about $0.89], and MAX bet 0.1 BTC [about $89.00],
3) is the market going to be higher or lower in exactly a 1 minute or 5 minute
timeframe? … click higher, and if it’s higher you win 70% [m1] or 65% [m5] of
your bet, and if not you lose whatever you bet.
BTC even has a 30 second bet, that sees a payout 90%, but not to sure about
randomness at that level of time … in any event, NDX100, gold, crude oil,
EURUSD, GBPUSD, USDJPY, & EURJPY, BTCUSD, & ETHUSD are offered, with
more to come later.
Now, the interesting thing about this type of trading is the limited risk factor
… you can only lose the bet, not like in regular trading where if your stop gets
run you’re toast … like yesterday for instance when the FED cut rates … suppose
you were short gold versus a bet that gold goes lower in 5m … right, your CFD
position led to a big loss, and no doubt your buy stop got run very hard, but
your binary options bet was simply a loss … whether by 10 cents or $10, it
makes no difference. The interesting part, is when you pair up this kind of
trading [betting] strategy with the algorithm, cuz taking both long and short
positions is simply a bet and nothing more … no worries if news breaks or the
FED does something … want to sell gold or the NDX100 off a top, but don’t want
the risk of being wrong to hurt you? … I can think of many more market strategies
as well, but I’m assuming you see the point. I’m not saying it’s for everybody, but
when you think it through, it can make a lot of sense to go this route.
I wrote yesterday about the Turnkey FTSE100 [symbol: 100GBP] … it’s open from
01:00 - 24:00 server time … from 01:00 - to the China open around 04:00, the
bid/offer spread is usually between 4.0 - 5.0 index points … from the China open
to around 09:00 -10:00, the spread is around 2.0 - 2.2 index points … from 10:00
through to 23:00, it will be 0.6 - 1.1 index points … RT commission comes in
right around 0.1 index points, so it’s a non-factor, and remember it’s priced in
GBPUSD. So, unlike the DAX30, you can trade the FTSE100 right up to the Wall
Street close and get excellent spread conditions … just don’t be 1 second later
than 4:00 PM EST, or the spread jumps to 5.0 index points.
Today sees more “scumbaggery” in gold … not from Turnkey, those days have
past … but from whoever it is in the bullion community that’s “monkey
hammered” gold the last 4 trading days at varying times in the New York day
… and what leads me to believe it’s the “Rally Protection Team” [RPT], is the way
in which the market has dropped, cuz nobody but dumb asses in government
don’t care about price … the way the market drops simply reeks of sell side
manipulation … consider this … “the FED cut interest rates 50 basis points
yesterday, then today we learn that including today, over the last 2 days they’ve
pumped over $200 billion into the “repo market” … EXIT QUESTION TO THE
FED: “Is there a bullion bank in financial trouble”? … if the answer is yes, no
matter who it is, do you have any idea the panic in gold to the upside this would
create? … XAUUSD would be up $150 in seconds if confirmed, and if you’re the
FED, now what?
So maybe, just maybe, this whole coronavirus “we had to cut rates for the
children” is nothing more than a ruse to bail out a bullion bank that is in major
league trouble financially, cuz of the sharp price runup over the last few months?
… dunno, but it’s the kind of chicanery the FED has been involved in since 1913,
and wouldn’t surprise me one “Hoover Dam” bit.
Today again sees the DOW30 with another 1,000 index point range, as markets
are about as “unglued” as I’ve seen them … what scares the shit out of me, is
that there are ZERO limits to what any market can or can’t do … “oh, it can’t do
this! … OMG!, it can’t do that! … and then not only does it “do it”, it goes past
even your wildest fantasies about where and what it can do … get stubborn, and
you’ll get carried out “toes up” in the no prisoners environment we find
ourselves in … I can’t help but think of all the gold traders that got wiped out via
manipulation last Friday, and it all stems from the theory that gold can’t do
something … guess what? … it can do ANYTHING!
One algorithm trade today in the FTSE100 … TURNKEY PAMM / MAM UP
SLIGHTLY.
Today was about getting my bearings in the FTSE100 market … didn’t do any
gold trades today, and when I saw what happened at 17:00 server time, when
gold went down $5 in less than 1 second, I wanted no part of the “scumbaggery”
& shenanigans going on in there via the manipulators … and since that time,
gold’s been a bag of dog poo, chopping up/down viciously with spikes from hell
that go nowhere … there is ZERO interest in gold today, with non existent
liquidity and plenty of M1 gaps … the algorithm in the FTSE100 performing
extremely well today … I only took one signal out of many, and today was more
about gaining perspective than anything else … tomorrow I’ll trade it more
proactively from algo signals … the overnight trade is far superior to the
shit that takes place in New York … am wondering what year it will be when the
NYSE & NASDAQ move to China?
As far as gold is concerned, it’s gonna take some heap big more bad news on
the virus to get gold higher without some kind of pullback that wears longs out
… this is a “crowded trade” right now, and it looks to me based on what I’ve seen
the last 4 days, the “Great Bullion Wall of Selling” is in place between 1645 - 1650
by the bullion dealer banks, and with the stock indices in some kind of “dead cat
bounce” corrective mode higher, all I see is bank selling into spec longs … as is
the case almost 100% of the time, who wins this battle? … and since the
manipulators have been active these last days, don't be surprised to see them
again & again as we move forward into March … they are hellbent on keeping a
lid on gold … doesn’t mean news events can’t trump the shorts, but it’s gonna
take more than a few people getting sick & dying in Des Moines to get them to
stop, and unless it gets exponentially worse quickly, they will simply wear out
longs until they decide to puke … all with the help of the “fat finger” of course
… until tomorrow mi amigos … Onward & Upward!!
Have a great day everybody!
-vegas
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