EURUSD PERSPECTIVE

“I’m not sayin’ it’s aliens … but, it’s aliens!”

My anger yesterday towards “liquidity providers” [biggest oxymoron going] was

well justified … and what’s hilarious is listening to them twist themselves into a

logic pretzel, sounding like a basket full of retarded kittens on meth … “do you

ever listen to what you’re saying?” … and what you discover after all the bullshit,

is that they can literally do anything they want with your order … anything … hell,

they can fill it at “0” if they want to, and according to the “Terms & Conditions”

when you opened your account, you gave them your permission … the only thing

they can’t negate is pure fraud, which from a legal standpoint is one of the

toughest nuts to crack in any contract dispute … the only thing that keeps them

halfway honest despite bullshit fills, is losing business, the one thing they

understand … but, when they see the opportunity to screw you, they are right

there waiting, and they have no qualms at all about robbing you … but like I told

‘em, eat shit & die cuz I’m not trading Cable anymore … “when they lie to you &

cheat you multiple times, who’s the Chump if you continue the abuse”?

So while I’m transitioning my trading to 100% EURUSD, and maybe gold again if it

ever gets its act together [not optimistic, but hopeful], I want to give readers a

perspective on EURUSD … around for a little over 20 years, it’s long been a

mainstay of online FX trading, by almost every offshore brokerage house in

existence … when it first came onto the scene, bid/offer spreads were about

3 PIPS … 10 years later around the ‘08 financial crisis it was around 2 PIPS … and

ever since then, it’s been coming down in “drips & drabs” to the current 0.1 - 0.4

PIPS … as I’ve said before on the blog, what used to cost you half a million for a

membership on the CME to trade currencies, and get the kind of 1 PIP market

plus cheap fees, NOW you get for FREE! … and while some places still try and get

above 1 PIP for a “total cost to trade” EURUSD, most highly competitive offshore

houses are under 1 PIP … of course, depending on VIX & IVIX in the market,

spreads can fluctuate between 0.3 - 1.0 before commissions.

COINEXX, PRIMEXBT, & TURNKEY all have EURUSD trading well under 1 PIP total

cost under normal conditions … COINEXX enjoys slightly lower commissions

than the other 2, but were talking pennies here on 100,000 notional [1 lot] where

1 PIP = $10, so paying or not paying an extra 2 or 3 cents isn’t gonna be the

difference for whether you make money or not … I will add, though, both

COINEXX & TURNKEY are light KYC, and PRIMEXBT is NO KYC for opening &

trading accounts … all utilize Bitcoin [BTC], as well as other crypto options, for

deposit & withdrawal.

Newer traders probably think March 2020 saw FX as “bat shit crazy” … NEWS

FLASH: “that was NORMAL 10 years ago, what we saw in March”! … in fact, I was

somewhat surprised FX wasn’t more volatile than it was … and during most of

this, EURUSD had a spread of 1 PIP at COINEXX & TURNKEY [PRIMEXBT was a

little higher], so if conditions become crazy again, EURUSD will still be the place

to trade … directly below, a MONTHLY CHART OF EURUSD.

click on chart to enlarge

If you study this chart, you can clearly see much more volatility in the past, than is

currently present now … you can also see the broad trends EURUSD has gone

through over the last 20+ years … in addition, notice the white trend line, currently

coming in at about 1.17050 … can you even see from this chart the effects of the

CHICOM WUHAN KUNG FU FLU? … it’s not even but a “blip” on the monthly!

… and given the nature of the central banks of the world to go full retard QE, FX

looks set to be more volatile than in the most recent past … in other words, keep

some perspective when you think there’s nothing out there to trade and profit … I

sincerely beg to differ!

OK, today is an NFP Friday … oh joy, oh fun … most hazardous day to trade of the

month bar none, and there isn’t anything good I can say about the first Friday of

the month for trading purposes … “well, they only missed it by that much! … OK,

10 million jobs off, but maybe they hired affirmative action math whiz kids for the

ciphering … dunno … who cares? … buy ALL THE BUBBLES! … MOAR! … cuz if

you took any of this data shit from the government seriously, you’d be in a rubber

room.

Two algorithm buy signals today in EURUSD … PAMM / MAM UP SLIGHTLY MORE

THAN 0.1%

Forget the small robbery, it’s back to making money! … I get up this morning and

look at the Asian session in EURUSD, and there’s well over a dozen buy signals

where ALL were winners … Europe walks in, the “Chuckleheads” depart for the

local casino, and even AFTER the jobs report, we have 2 signals … a half dozen

close but no cigar, but still … “is it me Mr. Market or WTF”? … latency & fills in

EURUSD at TURNKEY today were excellent, and quite frankly it’s the way they’re

supposed to be … when you think about it, with so many traders trading EURUSD

as one of their staple pairs, you’d have to be a stone cold idiot to want to fuck up

Euro trading and have your biz walk out the door … with so many banks

participating in the liquidity pool, if in fact you were attempting to hand out shit

fills, you most likely wouldn’t get any orders directed to you by the MT4 or MT5.

Given the U.S. jobs data today, plus the fact EURUSD was working on the 9th day

in a row up [meaning a ton of long position holders with stops], and it’s a Friday to

boot, I’m a little surprised EURUSD isn’t down more than it is … being only down

approximately 35 PIPS as I write can be considered a victory for the bulls, if it can

hold … here in mid-morning to the NY close, at some point the Apparatchiks for

the E.U. & the U.K. will hold an impromptu presser to ‘splain BREXIT negotiations

that resumed this week … who the hell knows what that will bring on a Friday with

Europe essentially closed and only the criminal banks on Wall Street running the

FX show … and, not gonna find out cuz it’s Noon EST now and that means adios

FX trading … sure, maybe 10% - 15% of the time, there will be news specific action

in FX for the New York afternoon, but the other 85% - 90% of the time you’re gonna

get robbed guaranteed … so don’t do “stupid shit” and trade New York afternoons

in FX, cuz it just isn’t there for you.

Blog update on Sunday, and I’ll be rearranging the VIX MATRIX TABLE to reflect

FX, as I completely ditch the “fairy dust” “Stock Bellies”, and I focus in FX on spot

gold [XAUUSD], EURUSD, and the 2 EURUSD crosses EURJPY & EURGBP … I’ll

follow USDJPY, USDCAD, AUDUSD, & AUDJPY as well, as they all have total cost

to trade of 1 PIP OR LESS … gone are Cable & the Cable crosses. … until then mi

amigos … Onward & Upward!! 

Have a great weekend everybody!

-vegas