“State of the financial trading world!”
Well here we are, another “hang onto your big girl panties” kind of day, waiting
for first Trump’s presser on China and ChiCom behavior, then after that Spicoli
at some freebie chicken luncheon hosted by elitists for elitists … “gee, what can
possibly go wrong here? ... and yet again, the POLS & Apparatchiks trading
paradigm kicks in, where it’s literally “death on a stick” waiting, all the while
scumbag LP banks doing their part to make sure retail specs buy highs and sell
lows as they ring the “Pavlovian” dog bell via MT4 and/or Mt5 indicators … a
bigger trading joke you’ll never see, as the Chumps get fleeced looking for
movement that doesn’t exist yet, and scumbag banks quick to hand out MAX
slippage while running stops … if you’re the bank, it feels like opening up
presents on Christmas … “hey, look at all of this free money”! … and so it goes
until later when SHTF … what a sorry ass state of affairs “markets” have
become”!
Quite frankly folks, you can either bury your head in the proverbial sand, or you
can face up to the reality of the way the world is presently, and I might add NOT
going to change anytime soon, and face trading facts … NEWS FLASH: “there
are ONLY 4 “markets” [3 rigged, 1 relatively free] available to us that can be
traded in all 3 major trading sessions within a day [Asia, Europe, U.S.], and
expect to receive excellent to good trading conditions, while following the
trading algorithm … they are 1) SP500 and/or DOW30, 2) EURUSD, 3) USDJPY,
& 4) Bitcoin [BTCUSD] … other than these four, you’re pissing into the wind and
expecting not to get hit back, but the brutal reality is you’re not gonna like 1) the
bid/offer spreads, or 2) the slippage that accompanies trading ANYTHING ELSE
outside of the pairs main trading hours … and yup, the DAX30 falls right into that
category … today & yesterday being perfect examples of what I’m describing,
cuz in the Asian session the spread on the DAX30 at a MINIMUM doubles, and
slippage increases, so you have to ask yourself what you’re getting in return for
handing the scumbag bank free money? … HINT: not a “Hoover Dam” thing!
I can’t trade BTCUSD for the PAMM / MAM cuz Turnkey doesn’t offer trading in
crypto [yet], so that’s not an option … unless the world is coming unglued &
SHTF in a big way, USDJPY is a disaster to trade cuz it doesn’t frickin’ move well
at all … EURUSD isn’t as bad as the Yen, but you only get decent trading days
and necessary IVIX about 10% of the time, while the other 90% of the time it’s a
complete bucket of shit to trade … that leaves by default the SP500 / DOW30,
which when conditions are right can’t be beat … all of the 4, when SHTF as
happened in March 2020, will see the bid/offer spread blowout, but in their
defense EVERYTHING sees bid/offer spreads get blown out when SHTF, so there’s
no default market that stays stable and isn’t affected when there’s systemic
trouble across the board … lately, meaning over the last year or two, China’s
role in financial markets has grown exponentially, to the point now where the
Asian session has taken on significant market importance.
The other day, I posted a blog with accompanying evidence via Dumbberg, of the
SP500 performance at “night” [defined as outside the NYSE hours] versus the
NYSE “day” [it would be the same with the DOW30] … take the last 16 days, last
month, last 6 months, or take the last 27 years, cuz it doesn’t matter … the
evidence is clear … the “Spoos” / DOW30 move and trade at night, putting in eye
watering performance, while during the day relatively speaking it’s a bucket of
shit versus what happens at night … even today, the SP500 / DOW30 had 8 buy
signals in the Asian session, with all 8 “winner winner, chicken dinner”, while
the DAX30 with double spread had “ZIP, ZILCH, ZERO, & NADA” … and while I
figured today would be slow given the Trump / Spicoli show, I didn’t expect to
see 8 signals, but there they are.
And what is crystal clear to me, is that in the financial world today, money flows
into indices & Bitcoin are what’s driving trading action, and everything else is a
sideshow … and in this 3 ring “shitshow circus” it’s Asia & the U.S. that take on
the most significance, with Europe ceding whatever relevance they once had to
Asia, and then when the sun rises in New York, the early bird prop traders for the
scumbag Wall Street banks take over, and again Europe gets shoved aside
… that only leaves about 3 - 3 ½ hours for Europe to do things on their own, and
the sad reality is about 90% of the time they fucking “punt” and markets go dead.
Granted, as you would expect, the SP500 / DOW30 and the DAX30 do loosely
correlate the vast majority of the time … if I could be certain the DAX30 can
maintain decent IVIX, there wouldn’t be a problem, but as this week points out in
spades, when the DAX30 has decent trading conditions, for sure the SP500 does
as well, but the opposite is not at all true and can’t be assumed … today a
perfect example of this at work … so what’s the point of trading the DAX30,
when there’s the SP500 / DOW30 23/5 of the time with excellent trading
conditions?
Turnkey’s commission rates are among the lowest in the world, and in the SP500
they are meaningless relative to performance … when conditions are excellent,
the bid/offer spread in the DOW30 is 0 - 1 or 2 index points, and when SHTF they
will climb up to about 4+ index points … in march 2020 at the height of the panic,
SP500 spreads were around 1.0 index points … since futures have a 0.25 index
point minimum tick, I don’t find the spread an impediment to profitability … and
over the last few years, as liquidity in the “Spoos” / DOW30 has gone way down,
that’s actually a positive cuz it raises IVIX … bottom line is there’s no reason to
trade the DAX30 over the SP500 / DOW30 … I can assure you, if the DAX30
moves, the SP500 / DOW30 is moving as well, so where’s the advantage?
… right, there isn’t one.
So, today sees me move trading back to the DOW30 & the “Spoos” [I’ll give ‘em a
chance]… hopefully, the DOW30 can behave itself, cuz it has great trading
conditions, … getting an acceptable handle on risk in the DOW30 is a major
headache cuz of the price of the index and the way it’s traded by the scumbag LP
banks, as they are quick to “goose” bids and/or offers at the slightest
provocation, thus leading to eye watering slippage that would make Vito
Coreleone blush with envy if he were alive today … seriously, it can get out of
hand to disastrous levels for any trader, even if you scale back volumes.
And if you’re sitting out there and wondering which house to trade “Spoos” or the
DOW30 at, my first choice for you would be COINEXX … better latency on fills,
better platform via the MT5 rather than the MT4, BTCUSD is also available, and
lastly and most importantly, I don’t think the LP’s they use are crooks & thieves
like the ones at Turnkey … but remember at COINEXX the DOW30 minimum is $1
per index point on a 1 lot [trades in whole multiples of 1] … quite frankly with the
horrific slippage at Turnkey today, outside of the DOW30, their index LP’s should be
indicted for robbery & rape … simply horrific … do you think getting filled 5 index
points off the bid/offer quote is “fair” & reasonable in the SP500? … well, I sure as
fuck don’t!
Take whatever I said above about the SP500 CFD AT TURNKEY, and flush it down
the toilet … only the DOW30 is viable, both SP500 & NDX100 are fucking horrible!
A bunch of indices trades today … TURNKEY PAMM / MAM DOWN A LITTLE OVER
0.1%
Trust me, it’s not the algorithm, which performed flawlessly today … it’s getting
robbed at gunpoint from fucking scumbag LP’s on fills in the SP500 that did ALL
the damage today … facts being what they are, slippage today far greater than the
very small dollar loss, eating up gains as well … these assholes should be in jail,
and so live & learn … once again their lies become total bullshit, and you can
count on the fact I’ll NEVER TRUST THESE SCUMBAGS AGAIN … that goes for
the brokerage house AND ESPECIALLY the thieving LP’s … so, enjoy your ripoff
gains, you won’t see ‘em again from me.
What a complete night & day difference between Turnkey’s FX & DOW30 trading,
and the scumbags that they got filling orders in CFD’s … be warned, outside of
FX & the DOW30, do not trade anything at Turnkey … let me save you the angst!
You won’t see a tougher market to navigate than today … not just the DAX30,
which had a double reversal today, which is almost never seen … both DOW30 &
the SP500 a literal trading disaster, both before and after Trump’s presser … a
complete fucking joke if you got caught in it, thank you very much “Plunge
Protection Team” [PPT] and also via any sell or buy stops you might have had
… a complete nightmare. Quite frankly, it’s a miracle [even with horrific slippage]
the tiny dollar loss is as small as it is, and if we could have gotten fair fills, we’d
be up decent gains for the day … it is what it is, whaddaya gonna do?
Blog update on Sunday … outta here … until then mi amigos
… Onward & Upward!!
Have a great weekend everybody!
-vegas
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