How well does propaganda work over time? … cast your eyes to Britain today for
the Queen’s Jubilee Celebration for your answer … the vaunted house of Windsor,
in reality changed from Saxe Coburg-Gotha [German for you Biden voters] after
WWI cuz Germany & Germans in particular not very welcome after wiping out an
entire generation of men in WWI … and while the Queen plays the PR game to
perfection, her offspring a bunch of perverted Dimwits … celebrate your
overlords Britain.
London markets completely closed today & tomorrow, and conditions today as
thin as I’ve ever seen them … EURJPY a complete joke, and while the DAX30/40
has done OK in a tight range, Turnkey has resumed blowing the spread out,
making today a non-starter for trading the index … ADP numbers weak, and so
before the NYSE open, the “Spoos” extremely choppy as well … shaping up to
be a totally shit day, but it’s early yet so we’ll see.
So bad news is good news again for “Stock Bellies”? … not much difference
between the “Spoos” and a penny stock trading in Vancouver … thin and
manipulative … meanwhile, if you’re not at Turnkey, the algo is doing well in
markets where they don’t fill you off the market by leaps & bounds … couldn’t
trade the DAX30/40 today cuz the spread was too high … EURJPY was an
absolute nightmare the entire day to well after the London Fix, which wasn’t cuz
everybody in London is drooling over the Queen and partying like it’s NYE 1999
… and if you watched EURJPY like I did, you couldn’t help but notice the
“herky jerky” bid/offer yo-yo guaranteed to give you MAX slippage … like the
DAX30/40, the spread was changing faster than a New York city cab meter … and
if you remember what I told you about watching the spread for 5 minutes and
then taking the HIGHEST spread you saw, you’d see that EURJPY was no
bargain to trade the entire day well past the make believe London Fix … this is
the bad news.
The good news? … even though I’m not getting the latency I got on my very first
trade, cuz that was pure “bait & switch”, it’s far better latency than on the regular
MT4 … even though Cable is considered a “major” pair, it’s quoted and filled like
the Mexican Peso … and that isn’t ever gonna change IMHO, and it’s why last
week we got ripped off … today sees the PAMM make one scalp in EURUSD,
where the fills were right on the bid & offer, we didn’t suffer any slippage, and
the latency was good enough to insure we weren’t getting screwed by having
our order mugged… and we didn’t cuz the fills were what they were right on the
bid & offer … and if it’s that way in EURUSD, it’s that way in USDJPY, and since
we’re ALL “SPOOS” TRADERS NOW ONCE AGAIN, if the YEN crosses aren’t
gonna do diddly shit until the SP500 moves later in the day, then WTF is the
point of even watching the YEN crosses until 9:30 AM EST in New York? … up
and until then and even afterward, especially when both EUR & YEN move in the
same direction, just go with either EURUSD or USDJPY via the trade signals … I
finally made this switch after the London Fix and in the early New York afternoon
… and what really bothers the shit out of me, is while Turnkey’s YEN crosses
spreads are gyrating like a frickin’ yo-yo and are all over the place, 1) EURUSD
& USDJPY spreads are very stable around where they should be, which is
0.0 - 0.3 and 0.3 - 0.5 respectively, and 2) over at “Cedar FX”, where the Mrs.
trades FX now, along with the DAX30/40 with a solid 1.4 index point spread
with no commissions, EURJPY spread is basically constant at 0.6 PIPS
… well WTF? … how can one house have the spread remain relatively constant
and Turnkey it’s all over the place? … who’s ripping off whom here? … yea, I
know the answer!
And the Mrs. today makes money on signals in EURJPY at Cedar FX, and I’m
trying to find the “on ramp” with Turnkey where the spread is quoted at 0.5 - 1.3,
with bursts to 1.6, then back down where the process is repeated endlessly … I
know with ABSOLUTE certainty I’m gonna be having unprotected sex if I hit the
button on the signal and get filled with a 1.6 PIP spread that immediately is a
2 PIP loser … screw that! … and while the trading algorithm manual uses
EURJPY for examples, I think I made it pretty clear it can and should be used
in any MT4 market effectively … well, if Turnkey is gonna be like this and aren’t
gonna change, then on this new super fast [which it isn’t] institutional platform,
if I’m only gonna get the best results with EURUSD & USDJPY, with a sprinkling
of the DAX30/40 when they wanna play ball, while the rest of the world can pick
and choose from anything and everything, THEN I’M AN IDIOT IF I TRADE
ANYTHING ELSE BUT EURUSD AND USDJPY, and at some points in time the
DAX30/40 when it’s appropriate … end of story … cuz quite frankly, this waiting
for the “Spoos” to move is bullshit, and shortens the trading day to a point I don’t
want to see happen in the crosses … looking at the time I came in today, if I had
spent my time trading USDJPY, via signals we would have needed 2 Brinks
trucks for cash delivery to the yacht … same with EURUSD … too bad these
are the only 2 markets they allow this, but it is what it is … in these 2 major pairs,
literally as good a spread as you’ll find anywhere, and while the latency
could / should be better, it’s fast enough to insure we aren’t getting screwed by
one these asshole banks with our order being held … cuz no way in EURUSD or
USDJPY are the orders being filled by an HFT … no way … and if I suffer a tenth
or even two of slippage, if they’re moving so what? … what I can’t take is
getting “gaslit” by these scumbag LP banks and end up behind the proverbial
8-ball for 2 PIPS or more instantly within a microsecond … and what really
makes my neck veins wanna blow and hit the study wall, is when the Mrs.
says “did you take the signal? … no, why not? … oh look, I just made 7 PIPS!
… gosh honey, this is easy”! … Oy vey … well yea, when you gotta a house
that doesn’t attempt to fuck you on every order with bid/offer slippage bullshit,
and instead has REAL LP’S that are happy with a very small fee for a trade, and
then moves on … and I get the feeling at Turnkey, both EURUSD & USDJPY are
like milk in a grocery store … always at the back of the store so you gotta walk
through and hopefully impulse buy chips and whatever [cuz you do!], and then
the milk is priced at cost as a loss leader just to get you in the frickin’ store
… that’s Turnkey in both EURUSD & USDJPY … it’s the milk … everything
else is marked different, quoted different, and filled different, and it’s where
the house makes all of their money … the kickbacks from that spread + slippage
… thanks for paying $2 for a Snickers bar when you coulda paid $1 for it at
WalGreens or WalMart.
Now, you’re most likely to get the best EURUSD & USDJPY spread at Turnkey,
and if you’re on the fast platform, there will be other places that might be a few
ms faster … but their spreads are higher or they charge a hefty commission to
go with that ECN platform … get filled like I did today, and Turnkey will be at the
top off the class in both these majors … drift away from these two, and you’re
suddenly walking in a back ally in some shitbox neighborhood in Chicago
without backup … good luck, you’re gonna need it.
Same with all of the stock indices … they literally suck at Turnkey and you can
do better no doubt … SIMPLE FX probably has the best SP500 CFD going, cuz
the spread even when the “Spoos” are volatile is 0.3 index points … Turnkey is a
“Stock Bellies” slippage nightmare, I don’t care what they say or the shit they
spew … usually 1 full index point off the quoted bid / offer on fills GUARANTEED
… you’d be nuts to trade this.
So live and learn, trial and error with brokerage houses to see what the “lay of the
land” is, and where the paths to profitability are and where the quicksand is to
avoid it … and it doesn’t appear to me either of these 2 majors are slowing down
for summer … given world dynamics and central bank differences “bigly & yuge”,
both should be “rockin’ & rollin’” for a good long while … especially USDJPY,
which has awoken from an approximate 15 year hibernation and the “Vix Genie”
is out of the bottle … and it ain’t goin’ back in given the dynamics of the worst
spendthrift central bank in the world, the BOJ … not to be outdone, the Morons
at the ECB aren’t far behind … which is good for us, cuz it creates markets that
move … and since IMHO I can’t rely on Turnkey to be CONSISTENT & FAIR in
either GBPJPY or EURJPY [today a great example of that], my response is
“fuck ‘em”, we’ll stick to buying just the milk thank you!
Tomorrow is NFP Idiocy, and London is closed again, but that won’t stop the
Asian session, nor the early birds on Wall Street from jacking Yen or EUR … now
that I know we’re gonna be OK in either, in terms of 1) best LOW spread, 2) little
to ZERO slippage, and 3) VIX, these 2 pairs are where the Brinks truck will pick
up the Benji’s to deliver to the yacht … as I said, only the one algo trade in
EURUSD, and it came after the London Fix that wasn’t … TURNKEY PAMM UP
SLIGHTLY … with a full day of trading either, we’ll do just as well if not better
than if we were in EURJPY and got a fair shake, like over at Cedar FX via what
the Mrs. did today … so, no worries it’s onto tomorrow!
… outta here … “The future’s so bright I need 2 pairs of sunglasses”!! 😎😎
… Onward & Upward!!
-vegas
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