After learning yesterday and over the weekend that roads & highways are racist,
and maybe even trees, it begs the question of exactly when the Sheeple of the
U.S. have had enough of this bullshit and rebel “bigly & yuge”? … this is
stupidity on steroids, a whole new level of woke bullshit where the shifting
goalposts never stand still and are constantly looking for grievances that only
exist in Libtard idiotic heads. Life is hard, it’s even harder when you’re stupid!
And speaking of stupid, there’s this thing called “markets” [cough, bullshit, cough],
but they aren’t really markets, they’re more like financial slot machines, run by
utterly corrupt central banks and their BFF the scumbag banks, where the only
purpose is to “skim” order flow outright by either fading spec order flow, or front
running institutional orders via their illegal prop accounts in offshore tax havens
… no matter which, cuz in both cases part of the “skim” goes to POLS,
Apparatchiks, & regulators, and do you want Bitcoin or something else in your
e-wallet? … this is how the mainstream financial casino works these days, and
to consider any other scenario is wishing yourself losses … today’s excursion
into FX stupidity is one of the sorriest trading action days I can remember … this
is embarrassing, and it should be no surprise why people have fled these so
called markets for greener crypto pastures … truly pathetic, and I’m sorry for
slandering pathetic and putting it next to the utter horseshit of VIX
manipulation in FX.
I literally can’t take it anymore … this morning I spent “quality time” with
Turnkey … and yes, some of the LP’s are a bit “quirky” in their bids / offers, but
there’s nothing a brokerage house can do about that … it is what it is, cuz when
it comes to traditional markets they all use the same scumbag banks, so
switching brokerage houses doesn’t work … but in this dark cloud of never
ending bullshit, there comes a silver lining for us … and that “silver lining” is
Ethereum [ETHUSD], where for the most part the bid / offer spread is about
$2.00 - $2.50, and if it goes bat shit crazy [BSC] for multiple hundreds of dollars,
the spread will widen a few bucks … the good news is that it isn’t anywhere near
as bad as it used to be … on the “open order book” [OOB] platforms, depending
on the volumes you sling around, most “gas fees” [commissions] are gonna be
right around 0.05% notional per side, which of course means round turn is gonna
be right around 0.1% … OK, ETHUSD is trading above $4800 … that means about
a $4.80 commission RT [round turn] + the difference in the bid / offer spread of
anywhere from $0.05 - $1.00 depending on the house and conditions … that
means for most every spec out there, the cost is gonna be over $5.00 … spread +
commish at Turnkey is around $2.50 … and for the last several weeks as crypto
has gone nuts to the upside, the spread in ETH has remained tame relative to
what it used to be … that’s probably cuz they now have more than 1 HFT
making a market so there’s competition, which wasn’t there before.
The current 20 Day range = approximately $216, so there’s plenty of juice there for
it to run … but what it does that none of the other more traditional markets do IS
F-ING MOVE UP/DOWN WITH CONSISTENT VIX THROUGHOUT THE DAY! … FX is a
“trainwreck” of one way moves, gold has too high of a spread and dies way too
often, crude oil has a spread that is ridiculous most days + it doesn’t move that
well either, and the “Stock Bellies” are another one way street in terms of moving,
and offer very little UP / DOWN VIX for trading purposes … BTC I wouldn’t touch
at Turnkey cuz the LP or LP’s are crooks and slippage is a major problem … but
ETH is a different animal … so starting tonight I’m going full crypto baby! … ETH
for the PAMM and all of crypto for “The Syndicate” … CONSISTENT VIX is the
name of the game, not 1 day out of the trading month! … I’m sick of FX and the
one way street action most days, with very INCONSISTENT VIX … it’s depressing
watching shit like Cable/Yen do nothing for hours on end and then explode, and
when it’s over there’s nothing left cuz the banks won’t let it move & trade … screw
that! … it’s onto ETHUSD for the PAMM and the returns like “The Syndicate” is
getting … and after talking with Turnkey about it, I feel comfortable trading ETH
… granted it’s not an OOB platform, but ETH is now a mainstream crypto pair, so
even if they are off the market by a few pennies, it doesn’t matter in the scheme of
things for profitability.
NO trading for the PAMM today … tomorrow sees ETH.
For “The Syndicate” today, UP APPROXIMATELY 0.2% TRADING ADA [Cardano]
… BTC spread its ugly legs today right after the CPI print, and it was a nasty sell
stop hunt followed by a rocket ship ride higher … the alt-coins much tamer and
subdued, but it’s relative … they still had excellent action, including ETH.
… outta here … “the future looks so bright, I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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