You live long enough, you see “”Hoover Dam” near everything … along the way
come surprises, and we sure as Hell got one now … and not in a bad way, like XRP
usually the case when Apparatchiks FUBAR things to the moon … over at
“IQCENT” I watched with keen interest yesterday as Miss Gimpy traded crypto
… she likes BTC [Bitcoin], Ripple [XRP], and Polygon [MATIC] … BUT HERE’S
THE KICKER … 1) THERE AREN’T ANY COMMISSIONS ON THEIR CFD’S,
INCLUDING CRYPTO, AND MORE IMPORTANTLY 2) THE BID / OFFER SPREADS
IN BTCUSD WAS UNDER 10 CENTS THE ENTIRE DAY! … BOTH XRP & MATIC
SPREADS ARE AT THE MINIMUM TICK AT THE 4TH DECIMAL PLACE! … think
about this a sec … range yesterday for BTC was about $1,700, and the spread
was usually between 1 - 5 cents, AND FOR THE OTHER 2 IT WAS 0.0001 … look
at the movement, which btw is 24/7/365 cuz it never sleeps, along with the 20 Day
Range MA, and you’re looking at THE CLOSET THING THERE IS TO A PERFECT
TRADING MARKET!
Everything a trader, whether you’re a scalper or consider yourself a day trader, is
there … everything you want is there … and as I said yesterday, it doesn’t matter
what it is you’re trading, what matters are the trading conditions … ditch the
“trader bias” of traditional markets if they don’t offer what you want and/or
demand … granted, we’ve just come through the other side of “nuclear winter”
for crypto, brought on by the brutal tightening interest rate cycle by the Lounge
Lizards at the FED … while not resurging with a vengeance, crypto is coming back,
and new houses like “IQCENT” have come along and offer both CFD’s & binary
options … they have OVER 1 MILLION+ ACTIVE ACCOUNTS … and with markets
like these with these conditions, it will grow even higher.
Put a gun to her head, and I think Miss Gimpy will tell you Ripple [XRPUSD] is her
favorite trading vehicle … XRP price falling in that “sweet spot” that allows for
trading decent volume, and getting nice movement for P/L … here recently the
20 Day Range MA has climbed over 300+ ticks and today is at 337 … XRP trades
at the 4th decimal place … the spread is 0.0001 … so, a 1 tick spread to get a 337
tick range? … HOLY CRAP BATMAN, let’s see you get that in anything on the MT4
board … certainly didn’t see it at Turnkey when they were around, and it ain’t
available in anything at Coinexx … they may quote EURUSD & USDJPY at 1 tenth
of a PIP spread, but I can tell you that spread is BULLSHIT … it’s phantom!
… throw in mystery ticks offers when buying or bids when selling, and you’re
lucky if you get half a PIP … and for that half a PIP, the ranges and trading action
simply SUCK … any way you want to break down the numbers, crypto conditions
at IQCENT beat the living crap out of anybody else out there!
As I said, almost perfect markets … about the only thing I’d like to see is slightly
higher leverage ratios, but I understand why they keep all crypto pairs at 10 : 1
leverage given cryptos history … then there’s IQCENT’S FX markets … crosses
are a little high on the spread front, but USDJPY is as good as what you see at
Coinexx … here’s the big difference … IQCENT leverage for USDJPY is 300 :1 for
margin purposes … a 100,000 [standard 1 lot] notional has margin of about $340,
and other pairs less volatile [like EURUSD] ARE AT 500 : 1 LEVERAGE … let’s see
you get that someplace else … I’m not saying use that kind of leverage, only that
the flexibility it offers traders of all stripes when it comes to risk management is as
good as it gets … Miss Gimpy uses the MT4 for algorithm signals, and then
utilizes IQXENT’S platform for order entry and liquidation … she uses her Apple
13 Pro via the mobile app … seriously, how easy is that? … one of the things I like
about IQCENT, is they offer 3 minute charting … it’s a good cross from the m1
and m5 on the MT4, and for day traders [not necessarily scalpers] it’s a very good
charting dynamic/
Late morning in New York, and this can only be described as pathetic … gold has
simply died on the vine … can’t really rally with short rates climbing, and won’t
break … all we’ve seen so far, since New York came in and especially since the
NYSE open is chop and dealer stop hunts [up & down] … volume certainly isn’t
here, and you’d see more movement at the Senior Olympics than in this shit
… just very disappointing … the manipulators have done a good job putting a lid
on gold volatility, and unless more banks go tapioca, or rates go south in a big
way, what’s gonna propel gold higher? … it looks like another generation of gold
buyers have bought the top and are stuck … does gold go “sleepytime” for a few
months to work this buying off? ,,, dunno, but I got a bad feeling this market is in
for a marked slowdown in volume and price movement … hope I’m wrong, but it
feels very bad the way gold went from bat shit crazy [BSC] to D.E.A.D. in a couple
of days … IMHO, this doesn’t portend well at all for good trading conditions, it
only means they sucked money in to buy the top and now it becomes a game of
who can take the most pain before puking … trust me, it’ll be long specs and not
the bullion dealers.
Turning to today’s “Slots-A-Rama” inside the casino, not a very good day for
“action” … some movement in USDJPY and crypto, but FX in general totally
sucked along with “Stock Bellies”, which act like somebody gave them sleeping
pills … oil is pretty much dead, and given its lack of movement over months,
there isn’t any reason to even look at it until it starts moving, especially with a
relatively high spread … why trade oil when you can trade crypto with the very
best trading conditions I’ve ever seen … I mean, if making money is your goal, and
if it’s not why the Hell are you here?, then you have to go where the money is and
where trading conditions are the very best relative to everything else … money is
money, and nobody gives a shit if you call yourself an oil trader, or a GBP guru.
Granted, some days / weeks it’s very tough figuring out which market is best … it
ain’t as easy as most would assume, but with crypto conditions at IQCENT, I don’t
see how you could do any better with any market that claims to move … the only
limiting factor is leverage … for example, if USDJPY is moving well, with margined
leverage at 300 : 1, it might be very tough to beat for performance with a crypto
pair that only has 10 : 1 … you just have to look and make a judgement call … but
at least you have the flexibility and option to do that … you certainly don’t have
that at Coinexx or Simple FX.
I’m gonna lay it on the line here for all of you reading this… listen up! … if you are
a “trader” [scalper or day trader, whatever] OR wanna become one and live the
“trader lifestyle”, like what Miss Gimpy is doing, and what I did before her … and
I’ll remind everyone, Miss Gimpy started her trading career under my tutelage just
after last Memorial Day weekend after busting up her leg down here in the
Caribbean screwing around the pool with friends … dropped out of worthless
indoctrination Clown University, and has about 10 months under her belt … she’s
still a Newbie … she bristles at that description, but it is what it is … she’s making
money, and has traded many markets … she doesn’t care where the money comes
from … she’s like me cuz I taught her … give us any market, anywhere online, and
if conditions are right we’re there! … and you should be too! … and I’m here to tell
you right now that the conditions for trading Bitcoin or other crypto at IQCENT is
the best I’ve ever seen … how do you beat less than a 10 cent spread in BTC with
no commissions? … most of the day 1 or 2 frickin’ cents … and with it’s 20 Day
Range MA OVER $1400, somebody pinch me to make sure I’m not dreamin’ this
… in fact, I checked with management to see if I was making any kind of
miscalculation … nope, it’s real! … today, while I sit here waiting for gold to move
somewhere and give me a decent buy signal from the algorithm [so far NADA!],
Miss Gimpy is trading Bitcoin about 30 times and by NOON has already booked
over $500 in profit … “cya she says, I’m goin’ to the beach!” … quite frankly, I
want to smack her while I sit here looking at the dog, who’s staring at me
probably thinkin’, “well, what’s your excuse?” … well, my “excuse" is simple
… if I trade BTC for the PAMM at Coinexx, I pay about $35 total cost per coin PER
TRADE … she pays 1 to 2 cents per coin per trade … if I trade it, who’s the idiot?
… meanwhile, gold can’t move $5 to save its sorry ass life, and USDJPY is a
basket case of bullshit … about a 40 PIP range of yo-yo horseshit … but on the
bright side, I get to sit here and listen to Miss Gimpy tell the Mrs., “BOOM!,
another profitable trade … I love Bitcoin! … Uncle vegas, could you go make me
a sandwich, I’m kinda busy & hungry? [suddenly I’m the kitchen maid? … WTF
is this?] … and so goes life.
As long as a market moves, the more the merrier, the v2.1 trading algorithm will
nail it to the barn door! … it’s already proven that if you care to look … problem
with both gold and YEN, is that too many frickin’ times it puts in its best ranges
and movements in the Asian session, and by the time I roll around at about 5 AM
or so, the moves are over … OR, as when the banks were failing, it’s so bat shit
crazy [BSC] both ranges and VIX are off the charts … and if that’s not bad enough,
the “”Trading Ratios” [TR] too often are below 3, indicating a market to leave the
Hell alone cuz there’s not enough “action” to merit a position … Hell, that sure
ain’t a problem for Bitcoin [BTC] … as I write BTC’s TR = ~ 25 … earlier around
the NYSE open it was ~ 31 … IS 25 - 31 LESS THAN 3?!!
And it’s the same with the other crypto pairs, I’m just singling out BTC cuz it’s the
“KING” … and so to make money you compare BTC with TR’s of around 30 versus
MT4 shit around 2 or 3, or even 4? … this is as close to perfect trading as you’re
likely to get … essentially, it’s no cost trading in a market that goes 24/7/365 and
becoming more mainstream every single frickin’ day … I DON’T GIVE A SHIT IF
YOU LOVE OR HATE BITCOIN … TRADE THE “HOOVER DAM” THING, IT’S A
MONEY MAKER!! … how would you like to trade gold with a 1 penny per OZ.
spread? … or crude oil with $0.001 cents per barrel? … even then, they couldn’t
equate what BTC does every frickin’ day!!
I’ve never been more serious about anything on the blog posts before … this is
trading as it should DEFINITELY be, but sadly isn’t in too many places … Miss
Gimpy made about 30 trades today in BTC following the algorithm … Hell, if she
were trading today at Coinexx or PHEMEX, her TOTAL COST would have been
around $1,000 on 1 lots … she didn’t even pay 50 frickin’ TOTAL CENTS ON
MULTIPLE LOTS!! … when she gets back from the beach, I’ll ask her if she feels
bad cuz she didn’t send the brokerage house AND scumbag LP’s $1,000 … I’ll bet
she’s all broken up about that … Bwahahahaha!
It’s easy and fast to sign up at IQCENT … use my link [it’s my affiliate link and
costs YOU NOTHING!, but helps me a little], give a good email address [private,
secure, anonymous … I like Proton mail in Switzerland … and it’s FREE] … send in
and deposit some crypto like BTC, and start trading … the interface is easy for
anybody and very intuitive to use … withdrawals are handled very fast, and with
the first withdrawal you need to show ID … and I’ve already asked and it’s OK to
show U.S. ID, cuz they don’t care … however, if you don’t use a VPN, get one
[I use TorGuard and like ‘em], and if you try logging into the trading platform from
a U.S. IP address, you may not be able to … they may block you … USE A VPN!
There simply isn’t any good reason you can give me for not trading crypto at
IQCENT … NONE! … want money? … here it is! … if I could, I’d switch the PAMM
over in 2 seconds from Coinexx, but sadly I can’t … IQCENT does support “copy
trading”, and I’ll address that in tomorrow’s blog post.
No trades in the PAMM today … gold goes straight up from 5 AM EST for 5+ hours,
and then goes sideways for the rest of the day doing nothing … a small rally to
new highs for the day yielded nothing in terms of a break and it just sits there for
hours on end within a couple of bucks of the high … what bullshit … YEN not
much better, but it did move in the Asian session … gets to New York and nobody
cares … YEN bullshit heaped on top of gold bullshit … the smell is suffocating
… tomorrow is another day, let’s hope we can get some movement … and one
more thing before I go … if you haven’t already, check out IQCENT and open a live
account through my link, and get in the ballgame … use the trading algorithm, and
you’ll be singing a different tune! … unless of course, you don’t like more money,
and if that’s the case I can’t help you.
… 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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