What an absolute bag of shit! … it applies to many things, but here my context
is complete lack of gold trading action, with the ratio of m1 range divided by
spread+usual slippage barely equal to 1:1 [terrible], and of course Turnkey, who
can’t stand success and keep bombing their crude oil CFD’s with ridiculously
high ruinous spreads … they just never learn.
Gold today simply awful into the New York session … nothing but “chop chop,
fizz fizz”, thanks for the money as stops get run in both directions and we’re right
back in the middle of a pathetic range … this is some serious bullshit being
perpetrated on markets, where VIX explodes, then dies, and most are left
wondering, “WTF is going on here”?
When you get this ratio near 1:1, it represents a terrible market to trade cuz the
scumbag banks and/or HFT’s have got you behind the 8 Ball with lack of VIX
… you just aren’t getting the movement you need for consistent profits … when
it’s over 1 1/2 : 1 or 2:1, you at least have acceptable movement … even with
today’s lackluster range and movement in crude oil, the ratio is between 4:1 - 5:1
all day long with a 3 cent spread … great at SIMPLE FX, pure shit at Turnkey.
As I write, here in the last hour the Mrs. has captured 3 … count ‘em 3! … algorithm
buy signal moves totaling over $2 per barrel … and that’s just in the last HOUR, on
a day where today’s range is only about 60% of the 20 Day Range MA! … [I’d ask
for a “loan”, but the collateral conditions would be onerous] … it’s been about a
month now since she switched from BTC [Bitcoin], which has literally died on the
vine, over to crude oil at SIMPLE FX … given the outlook and “fun-durr-mentals” of
the industry, crude looks set to be volatile for some time, and I don’t see her
going back to crypto at all, especially with the sickening trading action of late
… just pitiful.
The problem with gold has and is a problem that’s been endemic for decades
… namely, it crawls up and then in 2 or 3 or 4 minutes takes out the last 2 hours of
price action … and this is especially the case when market tone is negative
… crude oil has a purpose, gold is simply a pet rock people put value in … there’s
a big difference … throw in the total “scumbaggery & fuckery” in terms of slippage
in gold at Turnkey [my last trade for the PAMM in gold saw 50 cents slippage in,
and 0 out], and in a choppy market environment like today with ZERO directional
bias to the trade, you are gonna get ripped to pieces on fills, absolutely
guaranteed.
I come into trading today looking forward to trading crude oil … that got shot
down “el quicko” as soon as I saw the 10 cent spread, now 7 cents, but still a
complete rip off … meanwhile the Mrs. is looking at a 3 cent spread all day, and the
rest is history … and if you’re wondering, SIMPLE FX does not offer a PAMM
... now into the New York afternoon, and not a “Hoover Dam” thing has taken
place in gold since I got to my screens some 8+ hours ago … even slightly lower
rates today couldn’t propel gold higher and keep it there, or extend any gains
… just chop.
Unfortunately, no trades today in anything … gold a train wreck of chop, crude
with a FUBAR Turnkey spread … don’t even get me started on BTC, a train wreck
in and of itself … aickening to watch crude move and the Mrs. banks some heavy
coin, and I sit here with my middle finger in my nose wondering if Turnkey can
ever do anything right … oh well, it is what it is, I can’t change it, so it’s simply on
to tomorrow and hopefully better gold action comes our way, OR the spread in
crude can come back to 3 cents … the former looks promising, the latter doesn’t.
… outta here before my head explodes from bullshit … “The future’s so bright I
need sunglasses”!! 😎😎 … Onward & Upward!!
-vegas
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