Before I get to Bitcoin [BTCUSD] today, “I can’t even ... “ the bullshit going on in
traditional markets, like gold for example, that sees whatever you want to call it
but don’t call it “trading action”, going on as it’s an exercise in torture … good
grief, what did any of us do to deserve this piled high stack of horseshit? … $7
for 9+ hours as a range, and the daily candlestick chart looks like somebody
smudged it with a pencil … nothing you can do but laugh at it, cuz if you don’t
it will make you cry.
This is “Part 2” of the BTCUSD series, and what I want to briefly lay out today is
how cash & leveraged contracts trade offshore in the BTCUSD universe … cash
trades with no leverage, and the perpetual contracts offered usually trade at
100X [1% margin] … now, I’m not talking about the ripoff trading at shitboxes
like Coinbase, Gemini, or Kraken, where you’d have to be certifiably insane to
drop money there for obvious reasons … chief among them the financial
“police state” the U.S. has become to the rest of the world, and where U.S.
citizens and/or residents are treated like every single one of you is Pablo
Escobar or some kingpin of a human trafficking ring … add to that exorbitant
commission rates and spreads that would choke an elephant, and if you “trade”
BTC or any other coin inside the U.S. you’re crazy … simple as that, you’re nuts!
Trading leveraged Bitcoin is usually done via “orderbook entry / exit” … that
means YOU ARE THE MARKET, and the entire world is the “trading pit” … no
scumbag LP bank to rip you off and manipulate the market, and the order book is
open for all to see … the other big advantage [sometimes] is the round turn [RT]
commission structure on your trades … yes, you can trade BTCUSD at places
like COINEXX on the MT5, but there are 2 problems here … 1) you are at the
mercy of the scumbag LP [bank or HFT, what’s the difference], and the”mystery
spikes” from hell are commonplace, meaning you got ripped off with a fill off the
market, and 2) there is no transparency in knowing where the actual market
actually is when you’re filled … “WELL, AIN’T THAT CONVENIENT”! … wonder
why they don’t want you knowing that, but instead want you to “trust them” for
honest fills? … and that beachfront property I got in Kansas is still for sale if
you’re interested!
When it comes to commission structure, most decent offshore houses will be on
the traditional “maker” [limit orders] or “taker” [market orders] format, and
depending on where you’re at, it can be a total ripoff or it can be extremely good.
You have to understand that when it comes to “crypto” the trading world is
moving at the speed of light. … what was great 6 months ago might be total dog
poo today … everything you think you know about trading moves much faster in
this space … a great example of this is PRIMEXBT … 9 months ago, they were
great for crypto given industry standards back then … today, it’s a ripoff … their
commission structure is way too expensive for today’s BTC market, and you’re
OVERPAYING to trade “bigly & yuge” … quite frankly, I laid it out to management
in a series of emails I sent them … no response … when I followed up, still more
“crickets” … “Ok fine, go out of business, no sweat off my donkey … and I no
longer trade there”! [website layout changes coming tomorrow!]
Then there’s “BaseFEX” .. all in all, a decent place to trade BTC on the order book,
and 3 months ago it was the best I could find … today? … nope, not even close”!
… what used to take years or decades to see, now takes weeks and/or months!
… now, I understand cuz I’ve been in this biz for decades, how some traders get
set in their ways, but I’m here to tell you it’s costing them dearly … a lot more
than they think or realize … you simply got no choice if you want & demand a
FREE MARKET to trade without government and/or scumbag LP bank
manipulation on a daily basis … in other words, get with the program if you want
to make money, cuz traditional markets are dead dinosaurs!
Tomorrow I’m gonna introduce you to the very best place to trade BTC [and
others, along with a surprise market] and how you can see it work with just one
mouse click … and if you like what you see, sign up and demo first, cuz they have
the very best demo platform I’ve ever seen, that isn’t simply real prices delayed to
the demo server, but real demo accounts trading for real BTC prizes in contests
run on the demo platform … it’s serious trading for large BTC prizes anyone can
join … and the real trading offers the VERY LOWEST BID/OFFER SPREADS
AVAILABLE along with commission rates that are gonna make you sit up and take
notice … who knows what the future holds, except for 2 things … 1) gold goes
higher cuz of feckless government, and 2) BTC is on its way to much higher price
levels as world governments run the CNTRL-P machine at record rates … and 9
months from now? … “I’d bet 9 months from now, this house will STILL BE THE
INDUSTRY LEADER OFFERING YOU THE CLIENT THE BEST TRADING OUT
THERE! … I’d make that bet”! … so, tune in tomorrow!
NO trades today in the TURNKEY PAMM / MAM.
What am I supposed to do with a gold market that refuses to move $3.50 from a
median price over 10+ hours of trading action? … good grief, what slop! … when
it moves, I’ll be there, but until then the trading algorithm says “no go” leave it
the hell alone … we’ll see what tomorrow brings to the table … meanwhile,
BTCUSD has another $400+ range today, and it trades like a FREE MARKET
should, with plenty of up/down moves the algorithm loves.
Outta here … Onward & Upward!!
-vegas
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