“The Cable market would like to say something!”
Britain used to have a wonderful empire & the strongest currency in the world
… at the start of the 20th century, just before Queen Victoria died in 1901, one
Pound Sterling, in today’s purchasing power, equals approximately £ 1,158 … one
stinkin’ pound has depreciated that much in 120 years! … this is what
“progressive liberalism” buys you, a standard of living that gets lowered for
everybody, and everybody but the royal family suffers … in other words, Britain
IS a third world banana republic country … if you’re a Brit, deal with it and realize
the U.S. isn’t that much farther behind your dumb ass country in going down the
rabbit hole.
In a note to clients today, Bank of America’s [BoA] FX department head says the
British Pound is currently, “neurotic at best, unfathomable at worst”, and decries
the complete lack of volumes & liquidity in the FX market, and quite plainly says
GBPUSD trades like an “emerging market” [EM] currency … debt heavy, no
industry to speak of, heavy socialism pervading society, and out of control
government spending … and although he won’t say it, I will, simply cuz he has to
be “woke” … I’ll add to this with 1) unchecked immigration of the Grifter class
from Eastern Europe and former colonies in Asia & Africa, 2) socialized medicine,
and 3) a liberal elite class of nobodies who are communist that run things … as a
result, why would anybody invest or put money there?
And so one of the scumbag LP banks, whose FX department rips clients new
assholes daily with thieving & stealing via slippage and front running corporate
orders, is now complaining of rotten trading conditions … “hey Skippy, look in the
fucking mirror, OK”? … just like the “trail of tears” in the spot gold market, where
the banks are crying “boo hoo, we got fucked by the FED when they screwed us
over and changed policy overnight, and we have losses there as well” … hang on,
I got to wipe away the tears in my eyes.
And if you read between the lines of what he’s saying, though, you realize what
scares the shit out of them, like I explained yesterday right here in the blog … and
that is, THERE AIN’T ANY RULES and Cable 4 days from now could be at 1.20 or
1.40 … nobody knows, and more importantly nobody is gonna step out and be the
first to buy or sell, cuz there isn’t anybody willing to really make a market unless
they take a pound of your flesh first … and as I said yesterday, it’s ALL order flow
& “freight train” runs in one direction that change in a millisecond and move at the
speed of light the other way … and of course, that traps longs & shorts alike, and
results in the negative feedback loop of ever more a loss of liquidity and lower
volumes … and since they operate their computer systems in NANOSECONDS, the
need for speed in trading has reached the absurd level.
You may think you have time … you got NO TIME … and when they smell blood,
we are the ones who get royally screwed over via slippage, as they take “price
protection” against your fill and position … remember, you only get filled on a buy
order when they can buy it cheaper from another bank and then take the difference
in your fill … they aren’t stepping out on a limb here … same with sells, only worse
cuz as everybody knows, the asymmetrical nature of price breaks is that they are
uglier, so the bank needs more protection … this is why I tell people, you have got
to be willing to sell long positions on spikes up, or buy short positions on spikes
down, cuz if you wait for the turn, you’re screwed … and even then, it doesn’t
guarantee the bank is gonna be fair … plenty of times when the market is nothing
but consecutive up ticks, I’ll liquidate a long position and bring the first down tick
the market has seen in 3 minutes … then after I’m filled it continues to go straight
up … “thanks, come again”!
Throw into this mix the Chuckleheads in Asia, boredom in Europe, then the “Flu
Lottery” everyday now in the U.S. session, and markets have become a literal
neurotic mess as the world turns to play “whack-a-mole” when the “Stock
Bellies” open … the guy from BoA is right, but it isn’t anything new for “The
Widow Maker” … for decades, Cable has been carrying out “toes up” trading
accounts that make “stupid shit” mistakes … like for example, 1) adding to losing
positions, 2) stupid shit leverage, and of course 3) “I trade fun-durr-mentals”!
… add it all up, and it’s only getting worse, not better.
Which brings us to today … a neurotic mess if I’ve ever seen one … what a bag of
complete dog shit this is … Asia a mess, Europe a mess, ho hum just another
tradeable mess inside the “Flying Wedge of Death” [FWD] in EUROPE, a scumbag
LP bank’s best friend, but a nightmare for traders … any and all moves simply
coming out of nowhere, with ZERO NEWS, and spikes from hell all over the place
… “you had better know what the hell you’re doing, or it’s gonna be one
expensive lesson on the roller coaster ride from hell”! … and the number of
people over the years that never learn the lessons “The Widow Maker” gives
them could fill up the Pacific Ocean and raise the sea level by about 3 feet!
No trades today in the TURNKEY PAMM / MAM … directly below the reason why.
IMPORTANT NEWS ANNOUNCEMENT
OK, at the beginning of the week, I was notified by PRIMEXBT that their
“Covesting” PAMM [Percentage Asset Management Module] is in “beta”, and
they have invited me to form & trade a fund … I’ve been waiting for this for over
9 months! … they aren’t that much late, as from the beginning they said first
quarter of 2020, so they’re only 2 months and change late, so no big deal
… briefly today, I want to go over some basics, and the Thursday, Friday, and
Sunday Update blogs will be devoted to the PRIMEXBT PAMM … a long time ago,
I decided upon a course of action when this event would finally come … a lot
[understatement of all time] has happened in the last 9 - 12 months, the most
important being a completely revamped & updated trading algorithm that
“nails” crypto & FX to the proverbial wall … and while the algorithm does have
sell signals and allows for shorts, it’s a very specific set of circumstances that
have to be present to see this come about … the reasons are numerous, but most
importantly it’s cuz of the “asymmetrical” nature of FX to go up and when it goes
down … “guess what Skippy? … they ain’t the same”!
But what I wanted most to test in real time, with real money, in my own account,
is the difference between COINEXX versus PRIMEXBT, in a market where
conditions are not favorable for long positions, meaning of course a nice “down
day” in Cable or another FX pair.
Monday & Tuesday saw up days, which means bigger gains on trades and similar
trading opportunities … it’s not the up days that concern me, it’s the down days
cuz they are more treacherous for longs, and it’s what needs to be tested on the
PRIMEXBT trading platform … today sees that nice down day in Cable… please
understand, COINEXX is marginally better than TURNKEY for trading FX
… they’re acceptable, I never said they were “optimal” … so what I want to know
is, “when I trade Cable at PRIMEXBT, is it better than COINEXX FOR 1) FILL
LATENCY [how long does it take for my order to get filled when I hit the “market”
button?], and 2) what’s slippage like?
So today sees me trade GBPUSD with 2 accounts running Cable at both COINEXX
& PRIMEXBT … bottom line is this; during the 8 ½ hours between 4 AM EST to
12:30-ish PM EST, I made 15 simultaneous LONG Cable trades in both accounts
… liquidations came exactly at the same time … PRIMEXBT IS 50x - 80x TIMES
FASTER ON FILLS THAN COINEXX, and I had no discernible slippage on any
PRIMEXBT TRADE … COINEXX was slower, and 2 trades had recognizable &
discernible slippage out of the 15, and others mostly ½ PIP or less … overall, I
made about 40% more on the trades with PRIMEXBT! … and this is on a terrible
down day that hasn’t seen many rallies!
Trade execution time at PRIMEXBT is faster than a human can recognize it
… simultaneous with the click of closing the order, my fill is on the screen
… there simply is no time lag I can spot, even though I know there is some in
millisecond fragments … the other thing worth mentioning here at the beginning,
is that the “Covesting Module” is a true PAMM, meaning P / L is split pro-rata, and
the BTC ism placed into your account … this means no problems with very small
accounts, as every penny is allocated correctly, transferred into Bitcoin, and then
placed in your account.
As many of you already know, PRIMEXBT is a NO KYC brokerage house, and
Bitcoin is used for everything … deposit / withdrawals / margins … all you need is
an email address [use the private, secure, & encrypted “Proton Mail” in
Switzerland … it’s FREE! … don’t use hotmail, yahoo, or Google] … and if need
be cuz you don’t have one yet, ALWAYS use a VPN when online … I use &
recommend “TorGuard VPN” , and it works great with streaming movies and
trading platforms … [if you want to sign up with TorGuard VPN, use the promo
code “50FOR LIFEBUNDLE” [minus the quote marks] and get 50% off the annual
sub price of $59.99, and pay only $30 for the entire year … it supports up to 8
devices as well, so everything in your family can be protected!
So, I had to use the day to see if PRIMEXBT “made the grade” … not only did it do
that, it slaughtered both TURNKEY & COINEXX on fills and execution times … as
well, I can trade crypto and I’ll cover that in one of the upcoming blogs … “yes,
I’m excited to be offering this for ONE SIMPLE REASON: the money we make stays
in Bitcoin, the most valuable currency in the world, and quite frankly it will
continue to go up in value over time … we’re only on the beginning stages of the
“shitshow circus” that is the dollar and all the other fiat paper pieces of junk that
depreciate over time GUARANTEED”!
So, back to biz tonight, and go Cable go! [wherever it is you want to go to!]
… much more on the PRIMEXBT PAMM TOMORROW … until then mi amigos
… Onward & Upward!!
Have a great day everybody!
-vegas
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