It’s called “casino financial trading”, and if you’re not very careful you’ll find
yourself wishing you were standing at a craps table in Las Vegas, only cuz you’d
have better odds of winning than the “sometimes” complete scam of trading
… scam you say? … Yup … built, hyped, engineered, and protected against any
and all attempts to regulate it fairly cuz the POLS, Apparatchiks, & regulators are
ALL in on the skim … and if you don’t do some cold calculating on the back of the
envelope, you’ll be one of the ones financing the Christmas parties & mistress
funds scattered around the globe … thanks for donating Chump, come again!
Gold a perfect example, when it’s not priced “fairly” … as I look at my screen right
now at this instant, the bid/offer spread is $0.60, for a market that currently has a
$17 range … that’s about a little less than a 4% “vig” … single “green zero”
roulette the “vig” is 2.56% house edge … how come there aren’t people streaming
to Las Vegas to partake of this, but line up at the door to trade gold that is higher?
… and the dirty little secret with gold if you watch it closely, is that the very
second it starts to move, you can forget about the “30 cents something” spread,
and look forward to somewhere between $0.50 - $0.85, where no matter your
positioning, your winners are less and your losses are greater … “ho hum, just
another financial scam run by scumbag LP banks & HFT’s the world over, to make
sure your money becomes their money in short order”.
And while I’m looking to trade gold, the complete inconsistency in terms of pricing
is scandalous … one second the spread is 31 cents, blink your eyes and it’s 80
cents … and if you just hit the buy button, guess where your “fair” fill is at? … it’s
one thing to trade, it’s another to be a complete dope and simply hand them money
for nothing … TRADING COSTS MATTER!
And at the end of the day, we’re left with very few choices for “fair pricing” markets,
that aren’t LP scams via slippage on fills off the market [hello “Stock Bellies”], OR
have completely delusional bid/offer spreads WITH SLIPPAGE [hello most crosses,
like EURGBP & GBPCHF to name just 2] and you get scammed that way
… seriously, you’re better off at a craps table … at least there, you get free drinks
and maybe a free buffet, while the scumbag LP’s simply laugh at you and give you
the middle finger.
When you get right down to it, there’s only EURUSD, GBPUSD, USDJPY in the
dollar pairs, and the 2 crosses EURJPY & GBPJPY … these are so competitive,
and make up over $7 trillion per day trading across the globe, nobody can afford
to “get out of line” and expect to keep traders … sure, brokerage house “A” LP’s
can be complete thieves & scumbags [hello Turnkey, are you listening?], but ALL
OF THEM are in the same boat to one degree or another, and in the 5 pairs listed
above you’re probably not gonna get robbed on a trade of more than a few tenths
of a PIP if there’s not news … and all are quoted bid/offer [except GBPUSD]
UNDER 1 PIP, and even Cable is very close to that … and given their respective
IVIX INDEX levels, and 20 Day Range MA’s, your cost to trade is usually WELL
UNDER 0.5% of the day’s range … look at everything else and it should make you
shudder in horror! … directly below, the 5 pairs bid/offer spreads at TURNKEY in
the PAMM / MAM live account.
Then I take a look over in gold and I want to puke … what they did to the spread
this morning after price started breaking should put them in jail, but of course it
won’t … bid/offer spread blown out well past $1 on the move down, cuz they’re
so “fair” and all … “liquidity providers” don’tchaknow”!
So, the message is simple … EMBRACE THE SUCK! … cuz I’m not gonna sit here
waiting for the 10 minutes of the day when gold isn’t going to screw me blind, and
then get maybe 1 trade per week … sure, I want to trade gold, but I don’t drive
down the highway throwing Benji’s out the window cuz I’m a “rich dope” … quite
frankly, the way the trading world works today, we got the 5 markets listed above
to choose from and that’s it! … anything else is either a complete ripoff or a
dishonest market, and right now today gold heads the list of dishonest markets
… our cost to trade gold, just for putting on the trade, is 1,000%+ higher than any
of the 5 markets I listed … seriously, think of how utterly insane that is and the
impact to your wallet.
And out of the list of 5, I’m choosing to trade GBPJPY going forward … here are
the reasons why … 1) historical volatility is the highest of all the other 4, 2) cost
to trade is one of THE LOWEST, 3) a major market with some of the best liquidity
and volumes going, 4) slippage is minimal to non existent, AND 5) since it’s a
cross, and the dollar has been taken out of the equation, the trading algorithm
calls for both long & short positions when appropriate … that means more trades
and more profit.
I want to be clear here … I’m not anybody’s Chump when it comes to markets &
trading … I expect to be treated fairly & honestly … I believe absolutely ZERO
anything the HFT’s and/or scumbag LP banks “say”, cuz I only focus on what
they do, and how it’s offered to us … and if what I see is UNSATISFACTORY, I
walk, simple as that … none of these markets, from GBPCHF, EURGBP, GOLD, or
any of the “Stock Bellies”, has shown me that trading them is to our advantage
… quite the opposite, cuz looking “under the hood” and you find corrupt pricing
& slippage which is unacceptable … so, if anybody is leaving anybody, it’s these
markets and their propensity to cause financial harm to us in ways that on every
single trade is like getting a knife stuck in your side … screw that … this isn’t
what trading is about, nor should it ever be, but unfortunately in the age of central
bank manipulation, it’s what we get a heavy dose of every single frickin’ day!
Nor is any of this wandering around markets have anything to do but for making
money … if conditions aren’t right, there’s no point to any of this … outside of
the 5 markets I listed, getting CONSISTENT & STABLE pricing is “Hoover Dam”
near impossible … it’s a joke … throw in slippage, and it’s like getting salt rubbed
into the stab wound … I refuse to fund their parties and mistress funds!
Fact is, EMBRACE THE SUCK, and realize everything we trade is simply numbers
on a screen and might as well be “widgets” … call it anything you want, but put
me “behind the 8-ball” and put me in a very disadvantageous position relative to
price, and I walk away … “can you see my middle finger in the air towards you
HFT’s and/or scumbag bank LP’s"? … if not look harder cuz your “bait & switch”
tactics with most markets isn’t working, and the one thing I know if I know
anything, is that you desperately want a piece of that $7+ trillion dollar piece of
pie sitting out there every day in those 5 pairs I listed, and are willing to be
competitive in them cuz you GOT ZERO CHOICE IN THE MATTER … they’re too
big & popular for you to FUBAR them and have accounts leave for greener
pastures.
And yes, I realize some days will see Cable/Yen be more/less volatile than Cable,
but I’ll deal with it and live with it cuz I can trade both sides of the coin
… hopefully, gold comes back to sanity & reality soon … until then I’ll stick to
GBPJPY and let others pay 1,000%+ more to trade a “widget” than I do in
something else that’s equally volatile and has just as good IVIX INDEX levels as
gold … only it doesn’t have the ridiculous cost gold has.
No trades today in the TURNKEY PAMM / MAM.
Buckle up cuz more action is in the cards versus what we’ve seen lately … a lot
more … I doubt seriously we’ll see any days going forward in GBPJPY where
there’s less than 2 or 3 trades … tomorrow is FED interest rate decision day at
2 PM EST, and Thursday sees the BOE hold its interest rate decision for Cable
around 7 AM EST … could be a very volatile last 3 days of the week … quite
frankly it’s sad to see the gold market getting robbed of traders and trading
volume due to criminal activity, but remember it’s the U.S. Dept. of Justice [DOJ]
in court proceedings that called JPM’s precious metals trading desk a “CRIMINAL
ENTERPRISE” … “OK, then shut it down! … oh no, can’t do that … too many
POLS & Apparatchiks wouldn’t get skim money under the table, and that would
be a pure tragedy … so life goes on uninterrupted, but that doesn’t mean I have
to participate and hand them free money … screw that”!
OK, now that I finally got that settled, let’s go make some serious cash! I’m sick
& tired of being “sick & tired” and farting around the edges with markets that are
either corrupt, dishonest, or both … the “Dragon Trade” here we come!
… until tomorrow … Onward & Upward!!
-vegas
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