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.
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?
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
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