WELCOME TO “SCAM-DEMIC” NATION!

“Where you find out government, public health, & markets are a SCAM!”

I could also list about another 35 areas, including “pro sports”, where poser,

whiner millionaires fret about shit they know nothing about, all the while the

“hypocrisy meter” is setting new records daily … “Hoover Dam” near everything

you read & see, involves some kind of “scam” attempting to pull your thinking

towards 1) more government, 2) more socialism, and 3) you voluntarily giving up

your God given freedoms to the “mob”.

Today a “Banker’s Holiday” in Britain … “I guess all that stealing of the public’s

money via fees, fines, and other assorted bullshit they make up every year, has

got to wear down even the most hardy banker over the Summer … so nothing like

a Monday off, on the last day of August, to rest from the stealing … pretty sure,

though, they’ll be back at it come tomorrow.

The first half of the European session today a complete and disgraceful joke

… IVIX INDEX scraping the bottom of the barrel as U.K. banks are closed, coming

in at IVIX INDEX = 48 … last day of August 2020, and it can’t end soon enough for

my tastes … starting out in stocks, and FX continues dead … then, cuz stocks are

lower, here comes FED Apparatchik Bostic telling everyone that economic activity

slowed in June & July, and things have gotten worse in the U.S. … well now,

another PIE Hole throws shade to the stock jockeys, so don’t worry we’ll have the

CNTRL-P machine on “high” for the foreseeable future … and Bingo! Bango!

Boom!, everything FX takes off straight up … dead one second, bat shit crazy the

next to the upside… and when that dies down 45 minutes & 60+ PIPS later, the

trading day goes with it … another “speed of light … crickets” we’re in “The

Twilight Zone”, brought to you by manipulation HQ, thank you very much.

Sure, IVIX INDEX levels the last half of the day are decent enough, coming in at 68

in Cable, but the action is ALL straight up … and when the corrective retracement

comes, that’s all folks, there ain’t nothing left on this last day of August … “I’ve

never been so happy to see an end to a month of trading in my entire life

… goodbye August, good riddance”!

Yen volatility picking up, and I’ll monitor it to see if it’s “real”, or simply

re-positioning cuz there’s gonna be a new P.M. coming soon … I’ll believe it when

I see it, but quite frankly I would welcome more volatility in Yen cuz it would

benefit all other pairs as well.

No trades today in the TURNKEY PAMM / MAM.

Nothing to do when it’s dead due to a bank Holiday in the U.K., and nothing to do

when it goes bat shit crazy to the upside in seconds, but to wait for proper entry

… that never came cuz once the day’s 20 Day Range MA got very close, and we

got to the London Fix at 18:00 server time, it was all over … and once again, what

an amazing coincidence to see the London “Fix” at the high of the day

… “corporate dumb asses getting “fixed” alright"! … in any event, once that came

and went, there isn’t anything here but specs too long for their own good, and that

leads to the rest of the day seeing nothing but nasty chop and shit fills off the

market.

About time, I thought September would never get here … tomorrow sees the

world come back to trading desks, and hopefully FX returns to “normal” … good

trading days dead ahead, I can sense it … until tomorrow … Onward & Upward!! 

-vegas

SUNDAY UPDATE: “MI CULPA”

“Uh Oh! … time for a “big girl panties” check! … Yup, OK!”

If markets don’t keep you humble, nothing ever will … and last week we saw shit

I’ve never seen before in FX, and I’ve been around since the beginning of modern

financial markets that started in the mid 1970’s - early 1980’s … last week I

showed the “quadruple reversal” in the European session for EURJPY … never

seen anything like this … in addition, though, we got a “triple reversal” [at the

same time] in GBPUSD … that M30 candlestick chart directly below, with

commentary. 

click on ANY chart or table to enlarge

I’ve never seen a dollar pair have a “triple reversal” during the FX day, much less

confined to an 8 hour period that coincides with the European session from open

to close … not saying with 100% certainty, but I don’t ever recall seeing it, and

quite frankly my “big girl panties” haven’t been this “ruffled” since the great

October 1987 crash in stock index futures … all the result from  Spicoli’s J-Hole

speech … wait, wut?! … yea, no shit “wut”, cuz in the history of trading there have

been a whole lot more important & earth shattering events, than this Doofus

spitting out bullshit from Wyoming … and it’s this one that markets go completely

bat shit crazy and set new records of chaotic insanity? … OK, well I’ve for sure

seen it all now [until next week or month when the proverbial freight train down

the mountain, out of control and filled with plutonium, plunges off the tracks].

And quite frankly & I got no problem telling people this, it “shook me up some”

… no, it didn’t make me a “deer in headlights”, but at the same time when I see

shit that’s never happened before, it makes me 1) very cautious, and

2) wondering when the next shoe drops for more of the same … AND THIS IS

IMPORTANT! … this is all a manifestation of central bank manipulation attempting

to control volatility and ranges in FX since 2015 … and when even they realize

they’ve lost control and SHTF, they back away and VIX & IVIX literally explodes in

their stupid, hubris filled faces … and then to make matters worse, they sit back

and then say, “hey, no worries, we have the solution”! … FFS! … the revolution

can’t come fast enough to see these Dipweeds hanging by their ankles from trees.

As a result of all of this, late last week I decided to sort of revamp the Sunday

blog, and instead of focusing on one particular FX pair, give the table of the most

popularly traded markets on the MT4, whether futures or CFD’s, and list IVIX

INDEX levels for these markets so people in the PAMM / MAM can see & compare

volatility levels and UNDERSTAND why I do what I do … directly below, the IVIX

INDEX levels, and please read the notes.

It’s important to note, that I have leveled the playing field for these markets so the

numbers are comparable to each other, but I want to emphasise that when you

compare markets outside of the space they trade in, you have to be cognizant of

bid/offer spreads AND slippage … none more so than in stock indices, where if

you go past more than a 2 lot volume CFD, the slippage exponentiates quickly to

horrendous levels … sure, the NDX100 & DAX30 look great on the surface, and if

you’re trading a 1 lot volume CFD, I don’t blame you for trading these markets

… but they have ZERO LIQUIDITY, simply cuz the scumbag LP banks or HFT’s

pretending to be a “liquidity provider”, are nothing of the sort … they don’t have

to make an honest market, and at bigger volumes than a 1 lot or 2 lot, they most

assuredly won’t … I have listened to all of the lies & bullshit they have promised

over the months & years, and guess what? … right, it’s ALL bullshit & lies … they

will tell you anything to get you to continue to punch the buy/sell button so you

trade and they can steal more money from you … so, unless you’re willing to trade

futures, emini’s or e micro mini’s [PAMM / MAM aren’t allowed to trade futures],

there isn’t any hope ANYWHERE from any of the offshore brokerage houses that

offer CFD’s … they all use the same scumbag banks and/or HFT’s [BlackRock,

Citadel, and/or Virtu], so you will suffer the same results no matter where you go.

Looking at the metals, you’ve just entered another universe of terribly rotten

bid/offer spreads AND unbelievable slippage … quite frankly, the message here

from the “liquidity providers” [hang on while I puke … OK, better now] is simple

… “we’re not gonna let you scalp and “pick us off” during the day zillions of

times … that’s our job for you! … so, you’re gonna need at least $1.00 to a $1.50

gain from your position to insure a profit when you click the liquidate button, cuz

we’re gonna widen the spread and throw in “triple fuck you” slippage cuz we can

… don't like that? … too bad, them’s the rules”.

That puts us solely in the FX space, where last week my biggest disappointment

was in seeing Turnkey basically double the bid/offer spread in GBPCHF right out

of the gate on Sunday night and never looking back towards a spread of 1 PIP… I

dunno, whaddaya do? … EURGBP this past week another big disappointment with

severely restricted ranges … the Yen crosses came alive, but so what? … sure,

you get to take the dollar out of the FX equation, but when they all move in the

same direction, the crosses suffer and the dollar pairs shine … only if the YEN

comes alive again can the crosses be counted on in the same breath as the dollar

pairs … is YEN volatility coming back? … I’ll believe it when I see it, and until then

won't believe it will … the BOJ says [as if they’d tell the truth, but whatever]

nothing is gonna change with Abe’s resignation … only time will tell.

Looking closely at the IVIX INDEX tables, my “mi culpa” is simply this … “the fog

of “never seen this before” got in the way of clear judgement on Thursday &

Friday, and I should have been making a fortune in GBPUSD … instead, I’m

jumping around looking at dollar pairs and assorted crosses, and clearly the IVIX

INDEX levels are in favor of trading Cable over anything else in the FX space … in

any metric you want to look at, during the entire week and over different time

frames, Cable beats the pants off any other pair, and with a bid/offer spread AT

OR UNDER 1 PIP, the only other pairs that offer this are EURUSD, EURGBP,

EURJPY, & USDJPY … everything else is GREATER THAN 1 PIP for a bid/offer

spread … only EURJPY comes close, but even it lags badly when compared

simply to Cable levels … so, I get to sit and eat a big helping of humble pie while

markets move, the algo shines, and I sit … opportunity lost, but opportunity is

infinite, so buckle up the “big girl panties” [making sure they’re clean & freshly

washed], and move onto Monday and the start of the week in Cable”.

… until tomorrow … Onward & Upward!!

-vegas

TRAPPED INSIDE “THE TWILIGHT ZONE”

“Yea, that’s the problem!”

OK, where’s the escape button to GTFO of “The Twilight Zone”? … this entire

month of trading has been nothing but a cruel joke on the trader community,

culminating in yesterday’s complete record setting clusterfark in EURJPY with a

“quadruple reversal”, which in over 4 decades of trading I’ve never seen in either

the U.S. and/or European sessions in anything FX … but wait, it gets better! … as

today so aptly shows with the circus shitshow coming out of Japan last night with

PM Abe’s resignation, there’s MOAR! … so I drag my bottom to the screen today a

little after 4 AM EST, and what do I see? … LOL! … “WTF is this”? … spreads

blown to hell, ranges 150% - 250% above markets respective 20 Day Range MA’s,

and Europe has barely opened! … DEAR MRS. WATANABE: “you’re gonna need to

get your checks in here quicker  cuz they aren’t clearing fast enough to cover your

losses”!

Non Yen crosses not doing Mr. Jack Squat, and Turnkey being Turnkey the

bid/offer spread in GBPCHF & EURGBP utterly ridiculous … so, adios to those 2

pairs for today … EURJPY with a range out of Asia that’s 200% higher than the 20

Day Range MA for the entire frickin’ day, so what’s here as well? … probability

says NADA is what’s here, so adios to that pair … GBPUSD acting like it’s on meth

and the spikes from hell are more frequent than I want to see, so the only

alternative to trading today is EURUSD.

EURUSD IS AT 1.18950 when I get to my screen this morning … Europe now

closed, and after 8 hours of “Brady Bunch” hell watching this pair, it can’t do

diddly squat up/down AND EVEN GO 25 PIPS! … and that’s from the tips to where

I came in to trade! … more like 10 - 15 PIPS on each side, and can it get any worse

than this? … “thank you Japan for ruining this trading day”.

And to show you just how FUBAR EURUSD was today, the IVIX INDEX level for the

European session = 76 … now consider, it CAN’T GO 25 PIPS IN EITHER

DIRECTION FROM THE TIPS from my showing up, but instead sits and diddles

around with nasty & brutal chop … truly phenomenal, and I’m pretty sure the

scumbag LP banks are popping champagne bottles after today is finished, simply

cuz they brutalized & screwed so many specs multiple times with bullshit off

market fills from slippage.

And so here we are, another day of complete bullshit after an explosion in price up,

then down on “news”, followed by the law firm of Zip, Zero, Zilch & Nada

guaranteed to chop you to pieces looking for some kind of market movement

up/down over the course of the rest of the day, and not getting it … what an

“Effing” joke, and I want to know how to get out of these episodes of “The

Twilight Zone”!

Only one more day in this sorry assed month, before we can relegate it to history

and forget about it … we could have closed JULY 31, and reopened next Tuesday

on September 1, and who would have cared? … what’s amazing to me, though, is

the astonishing amount of extremely low probability events this month has seen

in trading action, topped off like I said before with a quadruple reversal that had

to have killed a ton of accounts … however you wanted to define “normal” before,

you can throw that out the window, cuz it’s a FUBAR free for all pretty much every

day now … and again, just look at today, with EURUSD for the 8 hour EUROPEAN

SESSION having an IVIX INDEX level = 76, and it can’t go 25 PIPS! … how the hell

does that happen without serious FUBAR chop? … hang around another 20 years,

and I don’t think you’ll see this again, BUT HERE IT IS! … I’d like to think that it

being August has a lot to do with it, but we won’t know that until next week, when

regular FX desks come back on stream … I had algorithm parameters earlier today

give me “extreme oversold” and then “extreme overbought” within 11 minutes of

each other, and EURUSD had moved 2 PIPS … what the hell do I do with this?

… and as I have said before, but it’s worth repeating, the algorithm trading model

will cover 99.97% of all trading days and should be effective for profits … that

leaves 3 days per 4 years of trading for potential trouble, as days fall more than

“3 sigma” [standard deviations] from the mean … I think this month has seen like

7 … this month … forget 4 years, in ‘The Twilight Zone” EVERYTHING IS NORMAL

AND MAKES PERFECT SENSE!

No trades today in the TURNKEY PAMM / MAM.

And for those wondering why, reread the blog from the beginning and pay

attention … it’s been quite a while, but once I went 21 trading days without

making a trade and people thought I had died … it’s not quite that bad, but then

like now, strange shit appears and kills accounts, and then disappears never to

be seen again … so, this too shall pass … blog update on Sunday … until then

… Onward & Upward!! 

-vegas