ALL YOU CAN DO IS LAUGH

“If you can’t see what’s going on you’re blind!”

Another NFP Friday, only this time we got Labor Day on the other side on

Monday … and just like all other NFP idiocy days in the past, this one produces

fireworks not cuz it means anything real, but cuz some “wonderkids” at the

Department of Unicorns & Fairy Tales make shit up out of thin air so scumbag LP

banks can clean house … could release all of this shit on the weekend, but if they

did that the scumbag banks couldn’t screw orders blind like they do every month.

And quite frankly, with almost ZERO spec interest in anything that isn’t already

showing record long positions, when there aren’t any buyers left what do you

think happens next? … makes no difference what the news is, good or bad, it’s

going lower.

So we start the European day in FX with a buying frenzy, that soon turns into a

selling panic … then the NFP number comes, the stock market tanks yet again for

the second day in a row, and now comes the next wave of liquidations followed by

a turnaround at the bottom that is vicious and straight up into the close

… “somebody tel me again about “honest markets” and how there’s no

manipulation … I dare you”! … all you can do is laugh at these assclowns,

otherwise you’d be crying … as I’ve said before, EVERYTHING is either straight up

or straight down, with all of the accompanying panic you’d expect as people get

their accounts murdered … only of course to see it turnaround and rocket the

other way and bring more tears … what a fucking joke FX has become.

A great day in crude oil, which I will begin trading for the Turnkey PAMM / MAM

starting next week after the Labor Day Holiday on Monday … oil futures will be

closed on Monday, so not looking for the CFD in oil to be very active, but who

knows? … today sees a $2 range, and IVIX INDEX levels that are higher than

anything else being traded … all inside a 2 cent STABLE & CONSISTENT bid/offer

spread with meaningless commissions … the trading algorithm absolutely nailing

this market to the proverbial wall … I traded it today in my own account to finish

out the week and test yet again the trading conditions in “real time”, and they

were spectacular at Turnkey … even in the late Asian session, the spread was

only 3 cents, and when the European session got going around

3:30 AM EST - 4 AM EST, it moved to 2 cents and never strayed from that level

the entire day.

The 20 Day Range for WTI Crude Oil, after today’s trade, = $1.16, or 116 PIPS … a

PIP in FX is usually worth ± $10 [0.00010 * 100, 000 (1 lot volume)] … oil is the

same, worth $10 per penny movement per 1 lot, so I can compare crude oil to FX.

Looking at the other pairs, the 20 Day Range MA for EURUSD = 89 PIPS,

GBPUSD = 118 PIPS, and most of the crosses are at OR under 100 PIPS

.. however, IVIX INDEX levels for crude oil are well elevated over anything in FX

… e.g., looking at the busiest part of the trading day, which is the 15 - 19 server

time [8AM - NOON EST], IVIX INDEX FOR GBPUSD = 100, whereas the IVIX

INDEX FOR WTI CRUDE OIL = 140 … this isn’t anything unusual in crude, but for

Cable seeing a reading at 100 doesn’t happen often … viewed in the context of

oil as analogous to an FX pair, and it would be the only thing you’d trade cuz it

has a 2 PIP [2 cent] bid/offer spread … and the amazing thing is, the CME’s emini

WTI Crude Oil futures contract [500 barrels] has a bid/offer spread of a minimum

of 2.5 cents … now add NFA fees, brokerage house fees, and CME clearing fees,

and your very near or slightly exceeding 3 cents per barrel to trade … about time

somebody [most likely a group of HFT’s and NOT scumbag banks, got together

to make this finally available] got their shit together and made a CFD worth

trading … since Turnkey & COINEXX use the same servers via Turnkey’s IT

subsidiary, I recommend using COINEXX TO TRADE CRUDE OIL … leverage is

set by the client, with MAX at 500X [margin rate = 0.2%], and commission rate is

$2 round turn on a 1 lot [1,000 barrels], and that is prorated down to minimum

volume of 0.01 lot volume [10 barrels] … this means your “cost to trade” = 2.2

cents per barrel, and I don’t know where you’re gonna go to find it less than this.

Today sees crude oil mirror FX almost exactly, although with a much bigger

impact via the range … rally right out of the open, break off the high, and never

look back, with only a late morning 13 minute rally in price before going

“Thelma & Louise” down under $40 … breathtaking to trade and watch this

happen while the algorithm is tracking it and making the calls.

No trades today in the TURNKEY PAMM / MAM.

For those in the PAMM, no worries as I get into the oil market next week and

trading begins in earnest from a very dull Summer of bullshit in FX … and if you

love bullshit, you’d have to love today in GBPUSD, where it’s literally nothing but

straight shots, turn on a dime and then run stops the other direction … straight

up, straight down, then straight up, and after 12 hours of this bullshit, Cable is

right where it was at 3:30 AM EST when Europe opened … literally, within a few

PIPS of the open at 3 AM EST … what rubbish horseshit this is, especially when

you consider there’s no trading in any of this, only PANIC! … and all the while

the scumbag LP banks simply front run institutional orders to their heart’s

content.

To be sure, we don’t need $2 ranges in oil to make good money from the algo, but

if it’s there the more the merrier! … and with the very best trading conditions at

either Turnkey or COINEXX, we finally … “F-ING FINALLY!! … have an Oil CFD

worth its salt and worthy of trade … can’t hardly wait for next week!

Blog update on Sunday … until then … Onward & Upward!! 

-vegas