Cue the band for some chuckles …. Cuz here comes BTCUSD when it gets “bat
shit crazy” … and today takes first prize, blue ribbon bullshit, as the Turnkey
HFT’s go “hog wild”, and keeping a straight face I’m sure, ridiculously making a
market in Bitcoin [BTCUSD] that rivals anything I can buy at the Unicorn meat
market … and make no mistake cuz I’ve said so before here, there isn’t a place
in this universe that makes a “fair & honest” market in BTCUSD when SHTF, and
today is “Primo Numero Uno!” to make that point … after blowing through 19,900,
the wheels come completely off the wagon, and bid/offer spreads blow out to $200
at one point, then staying between $30 - $150 for hours, and now that the damage
is done and accounts ruined, a “modest” [cough, bullshit, cough] $10 spread
… I guess I’m not supposed to remember 3 hours ago when it was hovering
between $0.25 - $1.50, right? … and now $10 is a “deal”? … and quite frankly if
you believe any of this LP bullshit, you get detention.
Even before things exploded, cuz what’s another trillion for stimulus anyway but
a rounding error for the CNTRL-P machine, the BTC spread was very erratic and
not at all stable … and that raises “red flags” all over the place, or at least it
should.
Meanwhile over in XRPUSD another wild day, and if you remember I said a few
days ago that XRP had become BTC in terms of trading action, and lo & behold
what do we see today play out? … well, Ripple got bombed in Asia as the
“Chuckleheads” sold the living shit out of it, and now Bingo!, Bango!, Boom!, and
this market is roaring along with BTC higher, putting in that “classic” bottom from
the Dopes and then rallying smartly to bury them … so here we are with about a
900+ point range, and during the entire time BTC was untradeable, there was
Ripple moving smartly but with normal conditions … as I said, XRP is the BETTER
trading instrument for a lot of reasons, but it can’t be traded at Turnkey cuz they’re
retarded, and it’s one of the big reasons I use PHEMEX for Ripple.
From the word “go” this early A.M. BTCUSD at Turnkey was screwed up & acting
like a basket of retarded kittens on meth … and it only got worse, worse-er, &
worse-er-er-er … now with the order books blown to hell and back, the LP’s think
a $10 - $20 spread is what you need … “umm, no, I don't think so”!
No trades today in the TURNKEY PAMM / MAM … not gonna trade it under these
ridiculous conditions.
For “The Syndicate”, XRPUSD algorithm signals today, we are UP SLIGHTLY
MORE THAN 0.46%
I’m pretty sure if I had been trading LINKUSD [Chain Link] instead of XRP, things
wouldn’t have been quite as good, but the other alt-coins on the whole maintained
at least some integrity, while Bitcoin went on its “bender” … of course, being
above 20K for 1 BTC has a lot to do with price discovery, and it should make
people think what it could be like if we skyrocket from here … “where’s the
spread gonna be if BTC is above 50K? … 100K+? … you think it’s bad now, just
wait cuz you should absolutely know like it’s written in stone, that whoever
becomes the prime LP’s in this stuff is gonna take advantage of that high price to
fatten its own wallet"! … on the other hand, Ripple at 50 cents, and
trading 8% - 15%+ of its entire value almost every day, with pricing out to the 4th
decimal place [5 some places like Turnkey], with good liquidity & volumes daily,
what’s not to like? … and the dirty little secret is, I haven’t even really begun to
“trade” Ripple like I would if it was EURUSD … so far, I’ve only been “actively”
trading XRPUSD for less than a month … sure, I’ve been buying / selling Ripple to
hold for a long time [years], but PHEMEX is one of the only places on an “open
order” book platform I would trade the alt-coins … and the reason is, I don’t feel
like getting “ripped off” by insane spreads & commissions charged at other
places … do the math Skippy, Turnkey, Coinexx, Primexbt, etc., DO NOT make
decent markets in most alt-coins, therefore making them as expensive as trading
Bitcoin with a $200 spread … and that’s bullshit.
Quite frankly, the trading algorithm for all of crypto is rock solid gold bars!
… exceptional beyond belief … and so far in XRPUSD my volumes for
“The Syndicate” have been very light … that will be changing here shortly as my
volumes increase … yes, it’s a shame Turnkey can’t get its shit together with the
meager list of coins it does now trade … outside of BTCUSD which is excellent
compared to other houses, you’d have to be an idiot to hand them the kind of
money they want to trade pairs like Ripple … it would be great to be able to trade
both for the PAMM / MAM, but currently that isn’t possible.
So, today sees the bottoming scenario I laid out for BTC happen in XRP … good
algorithm signals, along with trading conditions in Ripple from the get go … it’s
too bad PHEMEX doesn’t have some kind of PAMM program, cuz if they did I
would start one there yesterday and I’d trade Ripple or one of the other alt-coins
if Ripple got “whacky” … but the way the entire crypto space is evolving, I
wouldn’t rule it out either there or someplace else, sooner or later … we’ll see,
and in the meantime it’s on to tomorrow!
Outta here! … I’m full steam ahead! … Onward & Upward!!
-vegas
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