Another day, another lesson in volatility compression … it’s unreal the level of VIX
suppression these manipulator asshats are doing … that is, until they let it loose
and either gold, silver, “Spoos”, or some other pair like oil or Nat Gas go orbital
into space … and when it’s over, you got nothing but heartache, and if you’re on
the wrong side they rub salt into your account wound … this is the world
traditional markets now live in … what a bucket of shit, thank you FED
manipulators.
Today I’m also adding back BTCUSD at Turnkey, cuz there are times the bid/offer
spread represents value … too bad it’s only about 50% - 60% of the time, but it is
what it is … I noticed last week, as I wiped the other crypto pairs off my screen,
that Bitcoin was doing better, meaning much better trading conditions … that’s
provisional of course, cuz about 40% - 50% of the time when BTC takes off [up or
down it doesn’t matter], the spread goes “bonkers” and can easily be $100+
… then it goes back to $10 - $20 until the next time.
Most offshore “open order book” platforms have “maker” [limit order] & “taker”
[market order] fees at 0.05% of the notional value of your order … that of course,
means a RT commish of 0.1% … right now with BTC at 47K, the “gas” you pay to
get the order done and on the block chain is approximately $47 … PHEMEX round
turn with 1 limit and 1 market order would be 0.05%, or around $24 … so, anything
under or at approximately at $20 for a Turnkey spread would be excellent … and
we see that, the problem being when it starts to make a strong move … then the
scumbag HFT LP gets its “big girl panties” bunched up and demands protection
against a run, mostly cuz they don’t want you picking them off on a quick scalp,
something that pisses them off greatly … so, they widen the spread so it makes
it very hard to do that against them … “liquidity provider” my ass, they’re fucking
thieves, but we already know that, so whatevs … point is, though, at some
algorithm signals the spread is excellent and so why not take the trade?
… starting tomorrow I’ll do that … in the meantime, it would be nice if gold, silver,
or the “Spoos” could get their collective asses in gear and trade, instead of this
mindless chop we see day after day, immediately followed at some point by mini
explosions … up / down who cares, they come out of nowhere and usually go
nowhere, their only purpose is to torch specs loaded up the wrong way on order
flow.
I’ll give Bitcoin a whirl tomorrow at Turnkey, and attempt to take advantage of
these lower spread conditions. I didn’t do any trading today in anything, as even
crypto [most notably DOTUSD], except for ALGOUSD [Algorand], was on the dull
side after Europe opened … so what else is new?
… outta here … until tomorrow … Onward & Upward!!
-vegas
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