It’s fine to buy & HODL Bitcoin [BTC] … it’s much better to trade it! … and it’s never
been easier to “get into the game” than now … “open order book” [OOB] platforms
by the dozens running today that didn’t exist 1 - 1 ½ years ago … so many
technological changes … and while outfits like BINANCE & BYBIT go KYC, as they
“kowtow” to regulators, there are plenty of alternatives that are NO KYC to trade
through.
Today as I scan the financial markets just after the European open, it’s the
usual “crickets” in Cable, while the SP500 dead cat bounces after it gets its nose
bloodied … not much to hang your trading hat on … meanwhile, BTCUSD already
has an almost $2,000 range for the day, and it’s 20 Day Range MA [including
weekends] is approximately $2,500 … with very tight bid / offer spreads [usually
$0.50 - $1.00 or less], the focus on trading should be where you pay the least for
“gas fees” [a/k/a commissions] … the main reasons to trade BTC are 1) volatility,
2) no scumbag banks or big government regulators like the FED manipulating it,
and 3) it’s a FREE MARKET MADE UP ALMOST ENTIRELY OF SPECS.
You like volatile markets that move & move “bigly & yuge”? … well, you ain’t
gonna get ‘em in traditional financial markets any longer, cuz the FED manipulates
VIX … welcome to BTC! … and that leads to point #2, which is that there aren’t
any banks or the FED manipulating BTC and lowering VIX … sure, BTC has
“whales” that attempt to manipulate price cuz they got the most money in terms
of BTC to play with, but the difference between them & the FED is they actually
INCREASE VIX, which helps you! … and last but certainly not least, the market is
almost ALL SPEC NOOBS! … meaning they FOMO panic UP as well as DOWN,
and for the most part have no clue WTF they’re doing.
And if you’re one of those who hates BTC for whatever reason(s), then what
you’re telling me is you’re not interested in making money … cuz quite frankly,
pretty much ALL of the world’s “hot money”, along with other trader types have
quit traditional markets cuz they’re manipulated pieces of shit with too little VIX
too often the time … and that money has gone to crypto … Cable a perfect
example of this, as Specs have deserted trading it for “greener pastures”
… there simply is no reasonable rationale for not trading BTC, unless you don’t
like profit.
Like plenty of people I meet in my personal life, they’re most definitely interested
in crypto [and of course profits!], but have no idea where to start … where do I go,
how do I fund an account, how do I make deposit / withdrawal, etc., etc. My
purpose today in bringing BTC to the fore, is to make you aware of its POTENTIAL
FOR PROFIT, and what you can do about it … I’m working on a project that will
do just this for my readers! … right now, I must leave details “skimpy” … should
be ready by the end of the month for my readers to take advantage … and if you
don’t take advantage of it, then you aren’t interested in making money trading,
pure & simple … so, I’ll leave it there for now, and come back here on the blog
with news when appropriate … stay tuned!
Turning to traditional “markets” [cough, bullshit, cough], both Cable & SP500
today exhibiting either “crickets” [Cable in the European session] OR “speed
of light” movement with ZERO corrective activity [“Spoos”] … straight down
yesterday in a melt down … straight up today, and WTF has changed in 24
hours? … if anything, things are worse! … and it simply goes to show the level
of manipulation going on that shows no end in sight … you can either laugh or
cry, but the simple truth is, FX is a joke, no better exemplified than Cable’s
trading action … there’s no “there” there!
Starting tomorrow I’m going to be moving back to XAUUSD … the spread is a
little higher than I would like it to be, but in the end it’s acceptable … at least
our favorite pet yellow rock has some halfway nascent ranges, along with
corrective activity … that’s more than I can say for either Cable or the “Spoos”
… in addition, if we can get an allowable spread, which is not always easy cuz
the scumbag HFT LP doesn’t really want to make a market, I’ll trade WTI Crude
Oil when appropriate … as I’ve said before if I could get a consistent 2 cent
spread, I’d trade this all the time … 3 cents is acceptable but not ideal
… anything above 3+ cents is a ripoff, and we get plenty of that at Turnkey in
crude oil … yesterday’s $3 range in crude saw the spread go to 6 - 7 cents at
times when it was moving … this is bullshit, but the LP isn’t gonna let you make
the easy scalps and pick him off, and that’s why they widen the spread … I
simply cannot take more of this “speed of light … crickets” pathetic bullshit we
see almost every single day now either in FX or the SP500, so I don’t see any
downside to moving over to gold, and while we may occasionally get some
days that stink, the key word here is “occasionally” … if it happens I’ll simply
deal with it … anything almost is better than what I’m seeing now.
No trades today in the Turnkey PAMM.
Meanwhile over in crypto, a somewhat slow day range wise, with 6 out of the last
7 days UP [including today] … pretty much everything happened in the Asian
session and we’ve been drifting since the European open some 10+ hours ago
… the 50K level got breached on the upside and I’m more than a little surprised
no major stops there … for “The Syndicate”, a choppy day that sees us UP
SLIGHTLY on the day on multiple algorithm trades … and that’s not cuz the
algorithm hasn’t delivered, it’s cuz I’ve pulled the plug on trading cuz price isn’t
really going anywhere … and BTC isn’t the kind of pair you want to mess with
when things turn “slow” … bad things happen when BTC sits.
Tomorrow sees the PAMM going back to gold, and I for one am ready for some
algorithm trades … sitting here watching paint dry is for the birds! … outta here
… “the future looks so bright, I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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