Quite frankly, I thought it would take some time to manifest itself once Basel 3
started on Monday … here it is Thursday, and I can already see & feel the
difference in how gold trades … you can’t really see it on the daily, or other time
frames other than the M1, but for my money GOLD HAS MORPHED INTO HOW
ETHEREUM [ETHUSD] TRADES MINUTE-TO-MINUTE … the striking similarities
of the wicked m1 trading action, which is killing most scalpers, can be seen quite
clearly … and the way gold has traded inside these lower ranges this week, is no
indication of how bat shit crazy [BSC] the m1 is … this is a different market than it
was pre Basel 3 when scumbag bullion dealers ran the show … it definitely has
MOAR! M1 intraday volatility [IVIX] than before.
And so the question is, “does the increased IVIX in gold on the m1 outweigh
paying a higher cost to trade by about 10 cents per OZ. at Turnkey, than at other
offshore houses”? … from what I’ve seen, the answer is yes, cuz in the scheme
of things 10 cents is only 1 tick in the futures market for gold, and I don’t think
10 cents is in any way a factor in whether I make money or not … it’s more of a
rounding error and pain in the ass than anything else … yea, I’d rather not pay it,
but the PAMM doesn’t have a choice here … the real question is, can this BSC
“new” market in gold [and crypto if you go there in BTC or ETH] be modeled
accurately so we can capture scalping profits consistently? … and yes, I
KNOW IT CAN!
The way markets stand now, there’s only 4 markets that have any consistent
intraday volatility to speak of that doesn’t stink to high heaven … 1) BTCUSD,
2) ETHUSD, 3) XAUUSD [and by default XAGUSD as well for those who prefer
this market], and 4) DOW30 … each has its own unique fingerprints for how they
trade … picking up the rear, in a universe far, far away is FX, where each day I
wonder how it can get any worse, and then it proceeds to show me … what
absolute garbage trading conditions … I can take low VIX & IVIX, but this is
ridiculous.
It looked again today like Cable could rally, especially after slightly missed PMI
numbers, but the flows won’t have it, and they got faded like a cheap suit in
sunshine … 6th day in a row Cable is lower, and trading conditions are about the
worst I’ve ever seen … as the sun came up on New York for the U.S. session,
Cable had a range for the day in the 20’s for PIPS … I mean, seriously, there isn’t
anything I nor anybody else can do with shit like this … now minutes away from
the London Fix, and it appears banks are gunning for the lows again … tomorrow
sees NFP Friday … oh fun, oh joy … more bullshit from the math whiz kids at the
Department of Unicorns & Fairy Tales … quite frankly, it appears to me that
markets in general can’t wait for the July 4 Holiday … and yup, here comes the m1
spikes lower into the “Fix” … what Dopes.
I’ve said before, I think gold is a “quasi crypto” pair … it has the scarcity, but like
crypto it has the “fear & greed” cycle along with spec FOMO that causes &
contributes to panics of all stripes … now post Basel 3, if gold has morphed into
ETHUSD like I think it has, at least from a trading perspective, then why bother
with crypto when there’s gold with much better trading conditions? … simply put,
why screw with BTC & ETH from a scalping / trading perspective to make money,
when there is the cheaper alternative of gold? … quite frankly, maybe cuz it’s
Summer, or NFP week, or the 4th of July Holiday weekend coming up, but FX in
its present condition offers no value … the whole purpose of scalping is
“dislocations” in price inside market trading paradigms AND PROFITING FROM
THEM … how do you do that when Cable can’t move 5 PIPS in 3 hours?
The way gold is trading, IF YOU CAN MODEL ITS BEHAVIOR POST BASEL 3, it’s
the best market going by far … granted, there are brokerage houses out there,
that are slightly cheaper than gold at Turnkey, but they aren’t available to U.S.
citizens AND you need to do KYC … Turnkey has the best gold conditions for
any NO KYC brokerage house going, and from what I’ve seen their latency on fills
is above average and the slippage is minimal, usually under 5 cents per OZ. … so,
when analyzing the math and getting away from the emotion of paying more than
others, it still makes sense for the PAMM to trade gold at Turnkey.
I need to mention, though, that although the 2 algorithms I’ve posted for FREE
over in “Download Links” either work exceptionally well for above average VIX
markets [Tunnel Trading] or low VIX markets [P5], gold is in a category ALL BY
ITSELF when it comes to scalping … even BTC doesn’t move as fast as gold off
bottoms or corrections, and pretty much everything you’re gonna find in terms
of indicators are going to be TOO “HOOVER DAM” SLOW for gold … in other
words, too much “buy fuel” is given up JUST TO GET THE SIGNAL, and that
delay will pose problems to profitability over time … fortunately, I’ve got the
solution!
Starting with tomorrow’s trade, I’ll be back in gold using a proprietary method
designed SPECIFICALLY FOR GOLD POST BASEL 3 [or silver if you prefer]
… like I said, it has come quicker than I thought … originally I thought maybe
August or September would see gold exhibit what we’ve seen this week … “OK,
fine by me, LET’S DO IT!” … and while I have been trading & testing this scalpers
method in proprietary accounts, so I KNOW IT WORKS AND WORKS
EXCEPTIONALLY WELL, tomorrow sees me back in gold for the Turnkey PAMM
using it … I’m not ready to release it to the public at large, cuz over the next week
I want to show the results first … and quite frankly, I’m not sure yet the logistics
of how I want traders to have this … we’ll see!
Onto NFP idiocy tomorrow, and then comes the 4th of July Holiday weekend
… traditional FX has gotten so bad, it’s almost a waste of time tracking trading in
it cuz it isn’t moving worth a shit … and once Europe closes it’s even worse … I’m
not giving up on it, but simply refocusing on gold post Basel 3 … these European
trading sessions of sub 30 PIP ranges, and even if it goes to 40 - 50 PIPS is just
bullshit … focusing on gold just makes sense.
NO trading in anything today … Cable simply sick, and crypto excluding BTC &
ETH just as bad … color it pathetic all around, but gold was different … and with
the model I developed, you’ll see the difference!
… outta here … “the future’s so “GOLD”-en bright I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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