BITCOIN [BTCUSD] SERIES, PART 6

 

“You hit the buy/sell button didn’t you? … here comes da fill!”

At the very heart of everything today when it comes to financial derivatives

trading, standing firmly perched in the center of EVERY SINGLE TRADE done in

multi trillions of dollars worldwide, are the scumbag bank liquidity providers

… the world just had to get rid of physical trading pits we’re told, cuz they

were so dishonest with filling brokers scamming orders to their favorite

“bagman”, and then splitting the skim … and what we end up with of course, is

a system 5000X worse than before, cuz the banks are much bigger thieves in bed

with the usual suspects with their hand out, then the “Cocaine Cowboys” that ran

the exchanges could ever think of being … and it doesn’t matter which traditional

financial derivative your talking about, whether it’s FX or “Stock Bellies”, the

scumbag banks have positioned themselves, right along with the HFT’s, to be in

the middle of every single trade … and as the pic above shows, here comes

your fill!

ALL EXCEPT ONE GROUP OF MARKETS! … and that would be crypto, where

banks / HFT’s got nothin’ to say about nuttin’ … OK, if you want to say there are

futures at the corrupt CME in Bitcoin, yea you would be correct … but that

market has no influence, no power, and is but a grain of sand in the Sahara

desert … it’s “financially settled” meaning it’s toothless, and their volumes &

open interest are very negligible compared to the worldwide cash market, as well

as other offshore platforms that trade “perpetual futures” [PHEMEX being simply

ONE example] … and … AND … the entire concept of crypto is OPEN BOOK

ORDER PLATFORMS, where EVERYBODY gets to be “the market”, and nobody

is stuck taking or leaving some shit weasel, scumbag bank off the market,

horseshit bid [sell] or offer [buy] that is still subject to horrendous slippage cuz

they can get away with it … and the dirty little “open secret” to gain access to

offshore trading, is that you agree in the “terms & conditions” of your account

agreement when you open an account, to allow the scumbag LP bank and/or

HFT to ALWAYS TREAT YOUR BUY/SELL “LIMIT ORDERS” AS “MARKET IF

TOUCHED” [MIT] ORDERS … “oh, what could possibly go wrong here? … and as

I have witnessed on numerous occasions with my own personal trading, EVERY

SINGLE TIME WITHOUT FAIL  I’ve used a limit order to liquidate a position, the

LP gives me a shit fill off the market and nowhere near my limit price

… understand, this can’t happen on an open order book platform”!

Let’s dream for a second, shall we? … imagine you’re trading any of the FX major

pairs on an open book trading platform, and you & I can compete with the

scumbag LP banks via our bids and offers, along with volumes, and we can see

everything these shit weasels can see … if I have an order in to sell at “61”, there’s

no way you can run buy stops above 61 without filling MY ORDER FIRST CUZ IT’S

NOT POSSIBLE … and then imagine, that whoever it was [individual or institution]

that was a “taker” of my limit sell at “61”, has to pay me 0.025% of the notional

value of our trade! … for example, 100,000 EURUSD @ 1.16610 = $116, 610, and

0.025% of that = 116610 * 0.00025 = $29.15 … if you had access to markets like

this, YOU’D STAND IN LINE TO KILL SOMEBODY TO GET THIS!

Well Skippy, we do have it, and it’s called “CRYPTO” … I said the other day, and I

will update my comments from then … “I’ve made more money trading crypto in

October, than I’ve made the entire year COMBINED in all of these manipulated

shit markets on the MT4 and/or MT5”! … quite frankly, although I do trade

BTCUSD some, my favorite pair is LINK [ChainLink], which I mentioned in

yesterday’s blog post … do the math, and you’ll discover LINK runs “smoother”

than BTCUSD, and more importantly, it’s TWICE+ more volatile on a percentage

basis, with the spot market worldwide, trading CONSISTENTLY in excess of A

QUARTER OF A BILLION DOLLARS PER DAY! 

OK, all of this is great, but you’re sitting out there and wondering how YOU can

benefit from all of this … am I right or am I right? … well, that comes on Sunday’s

Blog Update, where I end this series on Bitcoin trading [and if you’re smart,

you’ll be thinking not only BTC, but other pairs like LINK as well … some

enormous value in these other pairs, without the bullshit sometimes of BTC].

Turning to today’s manipulated markets … quite frankly, I’ve “had it” with gold as

a trading market … the shit weasel bullion bank LP’s mess with the spread

constantly, and there is literally ZERO consistency in pricing this market … in

other words, it’s a frickin’ mess … I literally don’t know what’s worse, 1) the stop

hunts out of nowhere, both buy & sell, 2) spreads blown to hell at the drop of a

hat, or 3) horrendous slippage on fills … and if you happen to get any of these, or

some or all of ‘em you’re gonna have a very bad day in an environment of

disappearing volumes & liquidity … problem is, that’s 99.9% of the day! … this

stuff is simply untradeable in its present form, and until spreads consistently go

back towards $0.08 - $ 0.13, it’s not a market I’m interested in trading … the never

ending shit we have to put up with from these jackals is mind boggling to say the

least! … adios gold.

OK, that means it’s back to Cable for the PAMM, not cuz I want to, but cuz it’s all

that’s left! … it’s by no means anything close to conditions in crypto, but at least

the HFT LP’s make a half ass attempt at Turnkey most times at making it close to

“acceptable” [maybe, but there’s nothing else that makes any sense

whatsoever!].

For the record, I switched over about 6:30 AM EST, or 14:30 server time, and since

that time it’s a bucket of slop … up a little, then down, now with about a 70 PIP

range with Europe closed now for about an hour or so … and like every other

market on the MT4 or MT5 that’s manipulated, nothing can be sustained in any

direction, longer than about an hour, and then it’s “speed of light” the other

direction trapping many traders who wonder I’m sure, “WTF is this”? … well, the

“this” is your shit weasel, scumbag bank LP that can see spec “order flow”

across interbank market platforms, and along with other shit weasel, scumbag

LP banks, they simply pick you apart at the seams setting off metatrader

indicator buy/sell signals … “you know, the ones you read about in that trading

book, right”? … Europe closed now on a Friday, I’ll pick Cable up Sunday night

into the start of next week.

No trades today in the Turnkey PAMM / MAM.

It is what it is, sorry to say, but if conditions aren’t right and the overwhelming

probability is for losses, why do it? … and if I had done it, there wouldn't have

been anything there in gold anybody would have been happy about … gold is

crooked, manipulated, vicious, wicked in its pricing, and IMHO it’s untradeble

… nothing left to say about that market … Cable is better obviously, but it’s all

relative since crypto is 1000X better than anything traditional markets offer

… and why is that? … cuz they ain’t manipulated by government and THEY

ARE FREE!

On Sunday’s blog update I’m gonna lay out how you can benefit from crypto

… there are 2 ways, and I’ll go over each option then … trading LINK [or BTC] is

like being back in the trading pit … you can’t hear everything, or feel the “fear &

greed” in the air, but it’s TRANSPARENT AS A TRADING PIT, AND NOBODY

[READ SCUMBAG BANKS] HAS AN ADVANTAGE CUZ EVERYBODY HAS TO TIP

THEIR HAND ON THE ORDER BOOK … this is what trading used to be, and sadly

the world has accepted the manipulations of the self anointed “smartest people

in the room” and now it’s common knowledge central banks manipulate … EXIT

QUESTION FOR TODAY: “Why should the banks have the advantages to our

disadvantage in any market?” … they shouldn’t … and in crypto pairs they aren’t

even players cuz they don’t have any crypto to play with, and the CNTRL-P

machine isn’t of any value … and it’s one of the big reasons among many, why

people are leaving traditional markets the world over and trading crypto … deny

it if you want, but it’s a fact! 

One more important item on the plate today about crypto ,,, I no longer

recommend using MONARCH e-wallet to either store, receive, or send ANY

crypto, especially BTCUSD … my recommended e-wallet of choice is “ATOMIC”,

and directly below the link:

https://atomicwallet.io/

This wallet is as good as it gets! … support is excellent at getting back to you via

email if you have a question and/or problem, and there are tons upon tons of

YouTube vids to watch to fully utilize the wallet to its MAX … this wallet literally

supports ALL crypto coins worth their salt, on all of the block chains … one

feature I particularly like is the ability to easily set the transaction fee to an

appropriate level to insure FAST confirmation on the block chain by the miner, and

your transaction goes through with ZERO problems … and this is particularly

important when sending BTCUSD, cuz lately the miners have been demanding

higher network fees.

… outta here … until Sunday! … Onward & Upward!!

-vegas

BITCOIN [BTCUSD] SERIES, PART 5

 

“Be careful what you wish for … you might just get it!”

Let’s face it … traditional markets are dying right before your eyes, and you can

deny it if you want, but that doesn’t make it NOT TRUE … almost everyday,

volumes, along with liquidity dips lower … sure, there are occasional days when

the government manipulators [a/k/a scumbag LP banks, the BFF of central banks

everywhere] lift their boots off markets and let them breath, but that’s only to

suck you in again and allow you to hand over to them your money … you know

it, I know it, everybody knows it, traditional financial markets are nothing more

than “chopfest” Ponzi schemes … nowhere is it more apparent than in FX, where

trading action is about as pathetic as it can get while pretending to be open

… and in anything “Stock Bellies”, the back end of the “88/6/6” trading paradigm

is a nightmare waiting to happen at any moment, in the biggest financial bubble in

the history of the world … meanwhile over in “Hucksterville”, a/k/a “spot gold”

[XAUUSD], offered by the LBMA [London Bullion Market Association], one of the

world’s largest criminal organizations by design, it’s biz as usual today with

almost ZERO volumes overnight in Asia, but high bid/offer spreads cuz they can

… what an absolute joke.

And while traditional markets slowly die, thanks mainly to the U.S. government

via the Lounge Lizards over at the FED, smart guys everywhere have been

meeting for months building out the crypto world to bypass government bullshit,

no matter if it’s the FED, ECB, SNB, BOE, or the BOJ … and thanks to Bitcoin &

other crypto pairs, the world of financial trading is moving at the speed of light

in the other direction, and away from central banks, their rules, their feckless

Apparatchiks, and their idiotic policies that see fiat currencies purchasing power

going worthless by the day … as I said the other day, what used to take decades

for even the smallest of changes in trading, now see gigantic leaps within months

or even weeks … go back a year, and what’s happened in 365 days is literally

unbelievable.

What this means for us as traders, is that almost everyday, new offshore

brokerage houses open with a dizzy array of new toys, bells & whistles, claiming

to be “the very best with the lowest commissions and tightest spreads!” … of

course it’s all horseshit, cuz the dirty little “open secret” in trading, is that forever

brokerage house slimeballs have engaged marketing experts to figure out how to

bamboozle the trading public with gimmicks to get them to open accounts … the

client is convinced they’re getting a “deal”, while the brokerage house knows

better … and with the proliferation of crypto trading products, led by Bitcoin

[BTCUSD], you have to spend the time to analyze just what it is you’re getting

when trading at “House A” versus everybody else.

Don’t get me wrong here … I’m not saying they are all bad, but most are and

there’s no difference between crypto houses and the more traditional FX bucket

shops when it comes to making claims they can’t really back up … kind of like

the standing FX joke of “spreads STARTING FROM 0 PIPS!” on their website,

when in fact you don’t have a snowball’s chance in hell of getting a trade off in

ANYTHING at 0 PIPS … today, I’m gonna drift slightly away from Bitcoin, and

look at trading of one of the other “hot” crypto coins that are out there and

making waves in the crypto universe, and happens to be one of my favorites

cuz 1) IT MOVES, 2) it’s reasonably priced, 3) it’s 20 Day Range MA versus the

notional value of the coin is OVER 7%+, versus Bitcoin 20 Day Range MA versus

its notional value is approximately 3%, AND most importantly 4) it trades with

very good volumes & liquidity and most days is in the “Top Ten” of crypto coins

traded … the coin is “LINK”, and it’s ChainLink … directly below, a quick

3 minute read on what ChainLink is about, and how it’s changing the block

chain space.

https://decrypt.co/resources/what-is-chainlink

Now, the reason I’m bringing LINK up today, is that obviously you can trade it at

many offshore, NO KYC brokerage houses, and I want to highlight the difference

in 2 houses when it comes to LINK … the first is “DueDEX” and their marketing

campaign for LINK at “ZERO FEES” trading directly below.

Sounds great doesn’t it? … I mean, what can be better than ZERO FEES?

Then there’s PHEMEX, which offers LINK as well … here, it’s the usual maker [limit

orders] fee of -0.025%, and taker [market orders] fee of 0.075% based on the

notional value of the coin … directly below, spend a few seconds looking at the

two order books side by side at the same time from early this morning around

5 AM EST, and then figure out which house actually offers the best trading

conditions?

click on any image to enlarge if necessary

Well, since I know my readers aren’t brain dead, it’s obvious looking at the 2

platforms, that while DueDEx offers ZERO FEES, it has a 2 cent spread

… PHEMEX on the other hand, has a spread of 0.001 cent, which usually is in the

range of 0.001 - 0.002 as it trades … OK, let’s go with 0.001 cent spread … if

you’re a maker, PHEMEX pays you … if you’re a taker, you pay 0.075%, which at

present price level comes out to about $0.009, or 9/10ths of a cent … OK, add

that to the spread of 0.001, AND IF EVERY SINGLE ORDER YOU EVER PLACED

WAS A MARKET ORDER, AND YOU’RE THEREFORE A TAKER ON EVERYTHING,

your cost to do business is 0.001 + 0.009 = 0.010, or 1 CENT … that’s versus

ZERO FEES AT DUEDEX and pay the bid/offer spread of 2 CENTS … seriously? 

Even my dog knows which is the better “deal” … so, don’t fall for BS hype from

a website, until you check it out and do the math … and again I’ll say, if you want

to trade spot crypto [NO leverage], there isn’t any place I’ve seen that beats

PHEMEX and their ZERO FEES, when you join “Premiere Membership” and pay

$70 per year [19 cents a day] to get ZERO FEES … now, that ZERO FEES doesn’t

apply to contract trading, but still, it doesn’t matter much cuz the spread is so

tight and crypto like LINK moves TWICE AS MUCH AS BTCUSD! … and that’s

saying something … about a 77 cent a day range right now … and for smaller

accounts, it can make a lot more sense to trade LINK than BTCUSD … do the

math and you’ll see what I mean.

And again I’ll mention, PHEMEX has a phenomenal “testnet” demo platform,

where you can get used to crypto trading via the order book, instead of some

dumb ass bank LP pretending to make a market on the MT4 or MT5 … use the link

up in the right column to sign up via my affiliate link, as it allows me to earn a

little crypto over time with NO COST to you ever, and that in some small way

helps support the website and my research time.

Turning to gold today … well, it’s gotten to the point where even the

“Chuckleheads” and Mrs. Watanabe & Gal Pals don’t even want to touch it

anymore … last night's trade in the Asian session was worse than dead

… ranges collapsing, as the scumbag LP bullion banks pull the plug on all of

the gold bulls from the summer, and price can’t go anywhere on the upside

… until of course when it does, and that happens in microseconds when they

clean out all the longs and the “Comex Con Game” can start anew,

iteration # [pick a really high number Skippy!] … but today another perfect

example, cuz when you add in the bloated spread, today averaging well above

20 - 30 cents per oz. and seeing mostly 45 - 70 cent per oz spread after the

ECB presser this morning, you have to be able to capture a pure move that

means something, cuz scalping this stuff is next to impossible given conditions

where there really 1) isn’t anybody in the market making conditions extremely

thin, and 2) when any move is over, there is no corrective activity, there’s simply

chop, and so you find yourself in a position praying you can simply get outside

of the frickin’ spread to close the thing and break even … then you say to

yourself … “self, WTF did I do that for, there isn’t anything here!?” 

And I’m gonna say it again cuz it’s 100% TRUE, “spend 10 minutes watching

LINK or BTC on the order book platform, and you’ll never want to open another

bullshit market again on the MT4 or MT5, in any of these 100% manipulated

markets … for cryin’ out loud, use my link for PHEMEX and make sure you’re

on the “TESTNET” webpage, and open up a demo and see for yourself … when

you’re ready to go live, use the normal PHEMEX webpage and open an account

and fund with either BTC and/or USDT … pretty simple … and sitting here

watching gold do NADA after the ECB interest rate meeting, it’s pretty clear

NOTHING MOVES AFTER EUROPE CLOSES, cuz nobody cares anymore … I think

I have a pretty good sense of the pulse of offshore markets in FX & “Stock Bellies”

… people are tired of getting ripped off, especially in FX, and they’re moving their

money to crypto, where markets are like they used to be before every government

on earth decided it’s important to manipulate them for the global elitists … and

I’m tellin’ you right now, that if you want markets that ACTUALLY TRADE, with

excellent movements up/down many multiple times a day WITH VOLUME &

LIQUIDITY, you won’t find them over in FX or the manipulated “Plunge Protection

Team” [PPT] horseshit of “Stock Bellies” … go find out for yourself, crypto isn’t

gonna bite you!

Today sees mainstream FX pairs getting “monkey hammered” after the ECB

meeting was over … am I supposed to believe gold is gonna rally when EURUSD

is getting killed? … and once the Dipweed Apparatchiks from the ECB got done,

gold went on another “Flying Wedge of Death” [FWD] episode, where it’s straight

down $16, striaght up $16, then back to the middle to die … quite frankly, watching

this stuff today makes me want to simply walk straight into the ocean … IVIX

INDEX levels decent, indicating the M1’s are putting in range, but they aren’t

going anywhere … $1 up / $1 down, rinse repeat, OMG I can’t believe I’m even

watching this flaming dog poo of a market … meanwhile, while it’s dead in the

water the spread comes into the 30”s, but show the least bit of a rally / break

outside of about $1, the spread widens into the 50’s and/or 60’s faster than you

can say, “WTF is this about now”? … and like I said, they simply aren’t going to

allow ANYBODY to scalp and pick them off, cuz that pisses them off cuz that’s

their job, and if you want to jump onto the “MOMO train” you’re gonna have to pay

the piper … and if it suddenly stops? … good luck, cuz now you’re stuck in the

chop … and another “quite frankly” … I seriously doubt anything moves

tomorrow, Monday, or Tuesday until we start getting election results Tuesday

night … I just don’t see volumes pouring into anything that is going to make a

market move … seriously, am I stuck in a bad dream?

No trades today in the TURNKEY PAMM / MAM.

Sure, put on the broken record again … same crap as before on other days

… speed of light, crickets, pretty much nothing in between and then it dies … the

fact is, the world’s “hot money” has disappeared into the crypto space, and I don’t

see what now gets them back into traditional markets anytime soon … maybe gold

at times, but how many times have Chumps bought the gold rally and gotten it

stuffed up their nose? … and these other markets like Cable, DAX30 are a joke

… racing to go nowhere, reverse on a dime and then die to chop you to pieces!

… well, onto Friday where who knows what transpires, and hopefully the

algorithm parameters can climb off of each other and gold sees some buying

interest that lasts longer than the attention span of a 2 year old … maybe? … who

knows, but we’ll see.

… outta here, until tomorrow … Onward & Upward!!

-vegas