There’s an easy way to prove Basel 3 is nothing more than a bunch of words
strung together by shit weasel lawyers, for the benefit of the scumbag bullion
banks … just look at the trading action and ask yourself if there’s anything
different? … nope, nothin’ is different, and this past night the Chuckleheads in
the Asian session did their job perfectly, as they ramped gold higher in the last
2 hours of trading to a new high for the day … and right on cue, Europe opens
and fades the living shit out of the move, proving once again that there isn’t
anything the Chuckleheads can do, that Europe & the U.S. can’t take away … and
this has been the case for decades, as about 95% of the time the Asian session
gets “faded” … take away the bullion banks and the European & U.S. sessions,
and gold would be trading at about $20,000 per OZ. today … and that tells you
everything you need to know about gold … and so NO, nothing has changed in
the gold market, and it’s the same old “Comex Con Game” at work each &
everyday.
And so, here we are in another “hurry up & wait” for tomorrow, when the idiocy
of the NFP numbers comes out, and of course this month’s numbers are the
most important evahhhhhhhhhh in the history of trading! … right, and I got land
in Kansas that’s beachfront property I’m sure you would love to look at … shall I
make you an appointment for a showing?
I come into the day right around the European open, and gold isn’t doing anything
and I look over at WTI Crude Oil … and immediately I want to puke cuz the lizard
HFT LP making a supposed market has the bid / offer at 6 cents … WTF is this?,
so I turn away from crude, even though I was looking for a kind of short term
bottom “washing out” of longs, given Vlad’s comments yesterday, warmer weather
in Europe for the most part over the next 10 days, and longs stuck in positions
wanting the hell out … but WTF am I supposed to do when the LP is basically
saying, “yea, we don’t really wanna do anything unless you fork over an arm and
leg and hand us free money” … to which I say, “GFY”!
And a few hours later after rallying, now the spread is at 2 cents … and quite
frankly, I want to hit something, cuz nothing pisses me off more than LP’s
pretending to be LP’s, when in fact they are market makers trading against
customer positions … and that fluctuating spread of over 300% tells you
everything you need to know, and providing “liquidity” ain’t part of the process
… how many times have I implored Turnkey to get DECENT LP’S IN CRUDE OIL?
… I’d say about 1 million +, but of course they do nothing, happy in the fact they
get ZERO trading revenue when these shit weasels pull this garbage
… it’s infuriating!
Quite frankly, there are very few traditional markets that can be “traded”
consistently for profit any more … crude oil is one, cuz the FED’s CNTRL-P
machine can’t produce or deliver a barrel of oil, and gold the other, although
gold would more than likely be trading like Bitcoin if it were a free market, and
not manipulated by the FED & their BFF the scumbag bullion dealer banks
… everything else from a “trading” perspective is “hit & miss”, with “miss”
coming up a lot more than I want to see … you analyze WTI’s trading action, and
look at the consistently high ranges, and you have a market that starts to move
when Europe opens and goes right through to about 2:00 - 2:30 PM EST … easily
an 11 - 12 hour market with plenty of ups/downs … why do you think the futures
in crude have the highest volumes & liquidity [excepting interest rates]? … futures
are a 1 cent spread market … so you’re gonna sit there and tell me paying a 5 - 7
cent spread is any kind of “deal”? … GTFO!, Vito Corleone would make a better
market! … I’ve told Turnkey and begged them to find ANYBODY with a consistent
spread, and all they do is sit on their hands … if the spread is acceptable, I’ll
trade it, and if not I’m forced to ignore it … simple as that.
Meanwhile, the CME has it’s “micro” crude oil futures contract that is 100 barrels
in size, minimum tick size 1 cent bid / offer, and yesterday traded about 60,000
contracts … “hey Turnkey, how many barrels did you clear yesterday through
your idiotic LP, with a spread CONSIDERABLY HIGHER THAN THAT”? … crickets,
crickets everywhere! … to be sure, there are reasons why the offshore price might
be a penny or two higher … 1) ability to split P/L in PAMM’s & MAM’s, which can’t
be done with futures, and 2) trading in the U.S. with a U.S. based broker generates
IRS 1099’s … privacy & anonymity has a price folks, but it sure as hell ain’t 5 cents
per barrel!
Looking at crude, simply from a numbers perspective, it ranks up there with the
volatility of Ethereum [ETHUSD], but well below Bitcoin [BTCUSD] … and like the
2 “big dogs” of crypto, banks & government manipulators can go pound sand
when it comes to crude oil, so there’s a similarity there other markets certainly
don’t have … on the “open order book” platforms for crypto, what makes them
the obvious favorite for traders is the transparency of the market, AND the
CONSISTENT extremely low bid / offer spreads … you have to navigate the
“gas fees” in crypto, so it’s important to find those houses that have the LOWEST
COST TO TRADE … in crude, it’s usually not the commissions it’s the bid / offer
spread … yes, Turnkey can be quite good at times … they can also be complete
shit in a flaming bag, please step on it here! … and the thing is, you don’t know
when it’s coming or why, cuz the scumbag HFT LP they use ain’t talking under
any circumstances … they share ZERO about how they price it or what causes the
spread to move … literally ZERO … they want you to know absolutely nothing
about them, who they are, or how they operate, only here’s your fill and enjoy
the shit sandwich.
It’s all about the costs to trade something and it’s volatility … has it ever occurred
to readers how it is “The Syndicate” makes money EVERY SINGLE DAY IT
TRADES BTC OR ANY OF THE ALT-COINS? … well, let me solve it for you
… 1) huge volatility UP & DOWN CONSISTENTLY OFTEN during the same session,
and 2) very low cost to trade bordering on insanely LOW … combine the two,
create a model or algorithm that captures the volatility, and back the Brinks truck
up! … compare that to the shit on the MT4 / MT5 that has almost ZERO
VOLATILITY, scumbag LP’s that slippage you on almost every fill, and scumbag
central bank manipulators hellbent on killing VIX to screw you … do you need a
scorecard?
And as I briefly mentioned before on the blog post, help is on the way for those of
you wanting / NEEDING to make consistent money trading, EACH & EVERY DAY,
like what “The Syndicate” is doing … it’s in the works … no details now, but stay
tuned, cuz it’s a complete no lose proposition for anybody that wants or needs to
escape the “Pudding Business” and get the “trader lifestyle”.
Into the New York afternoon now, and while crude oil is all over the place with an
approximate $3.70 range for the day [so far], acting and trading like Bitcoin’s twin
brother, gold is absolutely happy sitting and doing NADA while enjoying a
pathetic $15 range, which btw was put in during the Asian session … since
Europe opened about a $10 range from the tips, but more like a $7 range
excluding the “pump & dump” in seconds horseshit we see so often in gold, thank
you very much scumbag bullion banks running stops … today looks like a “doji”
on the daily chart, and we’re into the 5th day in a row in gold of a “Flying Wedge
of Death” [FWD] range of about $25 … 1745 - 1770, and it’s nothing more than a
yo-yo screwing of longs & then shorts, and then let’s do it again!
No big whoop, just part & parcel of the “Comex Con Game” that’s run every single
day … hopefully, some NFP idiocy tomorrow can shake gold up, or even better
than that, crude tomorrow sees a decent spread with a high range value … “hey, I
can dream can’t I”? … no trades today for the Turnkey PAMM, simply cuz gold sits
and literally does nothing while we “hurry up & wait”, and secondly crude early
saw high spreads that drove me to the sidelines in that market.
Over in crypto, though, “The Syndicate” UP APPROXIMATELY 0.7% from multiple
BTC trades … I’m a little pissed at myself, though, cuz I think I could have done
better today, although hindsight is 20/20 and wonderful, I muffed a trade I
shouldn’t have and that’s what crawls under my skin! … oh well, grinding our
way towards “Millionairehood” for participants one day at a time with no worries!
Onto tomorrow’s NFP idiocy … outta here … “the future looks so bright, I need
sunglasses”! 😎 … Onward & Upward!!
-vegas
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