All you can do is laugh at this shit, and wonder where the Hell real markets are
being held hostage … the U.S. PPI report a travesty of bullshit, that only makes
sense if you’re a scumbag bank LP looking too screw everybody … where do
you even begin with this crap?
Pick a market, they’re all casino scams … just look at the price action and the way
price & volatility whip around in your face, with blown out spreads and high
slippage, especially after some bogus whiz kid report from propaganda
government that is 150% lies and made up horseshit … and when you see this
you know you’re being had … USDJPY looking to be the worst of the bunch
today, but the DOW30 not far behind … “speed of light moves, then bullshit, and
if you don’t laugh at what they’re doing, you’d be crying” … what’s most
disappointing is the lack of movement in FX … that space has just completely
died, outside of the occasional spike up/down “hit jobs” that come out of
nowhere, seem to fund mistress accounts, then disappear into oblivion leaving
specs holding the bag … there is no rhyme or reason right now to FX, other than
fuzzy bullshit about 1) saving the yen from oblivion, and 2) rates going lower
cuz inflation is now in check [haha, sure it is].
I was thinking the other day [yes, I know, thinking is dangerous] about past
market cycles, and I was reminded of back in 2005 - 2006 [somewhere in that time
period] when I was trading the Italian MIB40 stock index when it was in the 30,000+
range, and had very good ranges and price action … the spread back then was 4
index points and I was trading at Saxo bank … the index was on its way to about
a 48,000 high, before SHTF in the 2007 - 2008 great financial crisis, and it tumbled
back down to about 13,000 … houses stopped trading it for some reason or
another, but thinking about it, it reminds me of the present day DOW30 … high of
around 38,000, now back down to 34,000 after dead cat bouncing from 29,000 and
change, and could the U.S. “Stock Bellies”, of which the DOW30 is a part of,
completely tank like the Italian MIB40 did some 15 years ago? … of course, the
answer is YES, but what I care about is the VIX in it getting there or going higher
… the trading algorithm is based and premised on VIX, and the parallels between
the DOW30 and the MIB40 are striking when you compare them … a couple of
months ago the 20 Day Range MA in the DOW30 was above 700+ index points
… now today, if the range holds and doesn’t expand, we end the week at 458
index points … it was down in the 3’s, but Monday & Tuesday’s ass mauling to
the downside expanded that … the MIB40 had higher ranges, but not significantly
“sigma” SDEV’s [standard deviations] … however, we got a problem now that
didn’t exist back then.
And that problem is “SLIPPAGE FX” [a/k/a Coinexx + Turnkey], which I don’t have
to remind people doesn’t exactly have a reputation for fair fills … they can be fair,
but they can also be total shit … which only tells me that they don’t have
“liquidity providers” [LP’s] per se, they have “market makers”, that hand out fills
based on their book and whether they are long or short … quite frankly, my last
few trades in FX for the PAMM have left me cold … terrible FX fills, simply terrible
… slippage that would make Vito Corleone blush with envy … when viewed
through the prism of spread as a percent of the daily range, the current DOW30
spread of 4 points compares favorably versus other markets and those values
… so there’s no rip off here, at least not in the quoted spread … the rip off comes
with the fill and the attendant slippage their market maker decides to give you
… if you attempt to “scalp” the DOW30 for a few points, just be prepared when
the house doesn’t let that happen via slippage … the only scalp will be yours
… trading it off the algorithm and day trading it, will yield better results
… however, in the final analysis, all that matters is their book and whether or not
they want your liquidation or not … if they do, you’ll get a fair fill … if not, you’ll
get screwed, simple as that.
Btw, the binary options in “Stock Bellies” are terrible … fugetaboutit! … payout
ratios are to low for my blood, coming in UNDER 60% NO MATTER WHAT HOUSE
YOU TRADE AT … that’s too low for me, so not interested.
I haven’t traded the DOW30 for the PAMM since the merger, and I refuse to trade
the SP500 and NDX100 cuz of outrageous spreads and my first hand experience
with shit fills off the market … I simply don’t trust either Coinexx or Turnkey to
give me fair spreads or fills in either market … despite what they say, I don’t trust
‘em as far as I can spit … looking at other markets, though, makes me want to
puke … what the Hell do you do with ‘em besides get chopped up? … sure, I can
trade the binaries, but I’m talkin’ regular trading for the PAMM … what the Hell do
you do with something that won’t move, or when it does move it goes bat shit
crazy [BSC] in seconds before dying?
I’m not taking anything off my trading list, simply adding the DOW30 cuz I can’t
sit here day after day counting cloud formations and playing with the dog,
waiting for something in FX to move more than 2 PIPS … at this point, I don’t
see any other alternative with the Holidays approaching and 2023 starting, to add
something that has more “oomph” than we’re getting from FX … at this point, FX
stinks … at least “Stock Bellies” move … I’ll take the bad with the good and we’ll
see what happens … and the only reason crude oil isn’t being added right now, is
cuz the spread is so inconsistent, and the slippage far worse than anything
“Stock Bellies” can throw at me … again, “SLIPPAGE FX” has no clue about oil,
and their market makers are the worst … don’t need this kind of shit … blog
update on Sunday.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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