Whatever we do, whatever we trade, it’s all numbers on a screen … simply bets
with the bank or HFT on where price is headed … that’s all, nothing more
… there’s no claim to ownership or obligations for delivery, just a simple bet
… as such it makes little sense to inject your emotions into the debate as to
whether you love or hate crypto … who cares? … “trade it Skippy, don’t marry it!”
The “King” of course is Bitcoin [BTC], and what matters is 1) where you trade it
to get the very best trading conditions, and 2) how you trade to be consistently
profitable … IMHO, the best place to trade BTC is IQCENT … with a 1 penny
bid/offer spread, no commissions, 24/7 open market access, and 10:1
marginable leverage, there isn’t a better financial derivative pair anywhere that
can come close to the movements in BTC … this is a short term traders dream
come true! … scalpers / day traders can PROFITABLY trade while others can’t
get out of the spread!
Do not bring your bad trading habits from other markets over into crypto,
especially BTC! … you cannot do “Stupid Shit” in this complex and expect to get
away with it, like you maybe can trading “Stock Bellies” or FX … BTC functions
differently than traditional markets … banks do not have a place in BTC trading,
as there are no “scumbag liquidity providers” [LP’s] that rule the market with
central bank interventionist help … BTC is almost 100% retail spec, meaning the
share of Mrs. Watanabe’s & Gal Pals, as well as a large contingent of
“Chuckleheads” are present at all times … their psychological makeup is easy to
predict, and their trading habits you don’t want to share … “Arbs” [arbitrageurs]
provide liquidity via price differentials versus a multitude of exchanges & trading
platforms all over the world.
Understand this, and have it tattooed on the inside of your eyelids for reference
… BTC is a PANIC DRIVEN MARKET … FOMO PANIC UP, FEAR PANIC DOWN
… as such, the rule to never, ever to forget, is that you have to TRADE BTC IN
THE DIRECTION OF THE PANIC [or leave it alone] … followed very closely on the
heels of that dictum, you NEED TO LIQUIDATE WHEN PRICE STALLS IN YOUR
PROFIT DIRECTION … no hesitation, no “i’m gonna wait a few seconds to see “if”
… and then it’s on its way the other direction!” … rinse, repeat, do it again!
… there is no time for second guessing or “coulda, shoulda, woulda” here
… none. Sometimes the panic will only go a few bucks, other times it will go
many multiple hundreds or even thousands of dollars STRAIGHT … PANIC
OBLITERATES ALL ATTEMPTS TO MEASURE IT! … it’s a “feel process”.
I use the special trading algorithm in BTC for perspective … it doesn’t do much
good to see BTC rally $5, then drop $300+ in 3 minutes, the speed of which can’t
be accurately captured by any algorithm or trading model you’re running … I’ve
stated numerous times on the blog, that I use an m3 candlestick chart at IQCENT,
and that what matters are the panic driven moves generated off of candle
formations … these are failed double bottoms, flag formations, pennant
formation, ascending and descending wedge formations, triangles, and breaks
of multiple m3 highs or lows, that will see further panic when broken … it’s this
panic from the retail crowd that is being played, and given our trading conditions
that are far superior to all others, WE HAVE THE ADVANTAGE!
AND ALL THOSE THAT MAY DOUBT ME ON THIS CONCEPT, i SIMPLY ASK YOU
TO LOOK AT TODAY’S M3 CHART AT IQCENT … panic moves everywhere, and if
you can’t see this, you’re blind! … trade it LONG, trade it SHORT, it makes no
difference … pick a side and stay there … personally I like the long side cuz
FOMO panic to the upside is more frequent IMHO.
Turning to the “Slots-A-Rama” pavilion inside the world’s largest casino, FX is
making me sick to my stomach … shit will simply NOT trade! … “speed of light
… crickets” and “Hoover Dam” little else … but, on the other hand, what do you
expect from a group of markets [cough, bullshit, cough] that are manipulated
24/7/365 by central banks via their BFF large multinational scumbag banks?
… although times are far from desperate, I am reminded of the proverbial saying,
“desperate times call for desperate measures!” … Step 1 in this process is
jettisoning bullshit markets that simply will not trade!
I got a call the other day from a friend of mine who also lives down here in the
Caribbean … we go way back into the pit trading days … wants to know what I
think about crude oil … “depends on the trading conditions where you’re trading
it” … he says Coinexx has been much better lately [last few months] in the WTI,
1 or 2 penny spread, half-way decent ranges, and there’s been no slippage
… “well, knock me over with a feather” … and since then, I’ve been watching and
doing a little oil trading in my own account, and he’s right! ... currently, it’s got a
NY session 20 Day Range MA of $2.07, which is the same as saying it’s got a
207 PIP range, far better than any of the FX pairs trading now … with a spread of
2 cents, it’s been pretty easy to see “Trading Ratios” [TR] of 4 - 5+ which is
excellent, and with minimal to no slippage, what’s not to like? … cuz quite frankly,
this sitting and waiting for FX to move [ANY OF ‘EM!!!], is bullshit
… I NEED / DEMAND A TRADING MARKET! … and quite frankly, I don’t give a
shit if its “soiled underwear futures” I’m trading, as long as it moves, has some
VIX and the trading conditions are good to excellent … who knows, maybe the
Shit Weasel LP’s in oil at Coinexx have figured out, that competitive business
is better than ZERO business … ya think? … So for the PAMM, tomorrow sees
us in WTI Crude Oil, and hopefully this “Whack-A-Mole” bullshit in finding a
“trading” market can finally frickin’ END!
Today’s highlight has been Bitcoin [BTCUSDT] @ IQCENT … tomorrow’s blog sees
me dive deeper into crude oil and how I’m gonna trade it for the PAMM … as long
as Coinexx can maintain a reasonable spread given the VIX, oil can be
a good market for us … as I’ve said many times on the blog, give me a 1 or 2
[MAX] cent spread in oil, and there’s no need to trade anything else! … that of
course was before IQCENT and their 1 penny spread BTC CFD, which is the very
best around ANYWHERE! … but for the PAMM, nothing in crypto makes any sense
cuz neither Coinexx or their LP’s wants to be competitive in anything crypto
… they’re simply “Grifters”, looking for free money from unsuspecting Newbies
who wander in and somehow trade it … there is BRENT crude available over at
IQCENT, but the spread is too “Hoover Dam” high … no need for “The Syndicate”
to trade it and pay full retail+ when there’s BTCUSDT available and we have the
best trading conditions on the planet, bar none! … No trades today for the PAMM,
as I transition us over to the WTI Crude Oil market, and leave the FX landfill for
those wishing to hunt for garbage … plenty of bags of shit to choose from! … no
worries, half-way decent VIX is at hand with decent conditions … the key of
course is the VIX, and the New York session is adequate … could be better, but
it’s adequate for profitable trading opportunities, something that is severely
LACKING IN BOTH FX & “STOCK BELLIES”, with their respective “gap trading”
bullshit … gold for its part is simply hopeless as a trading vehicle
… utterly ridiculous conditions prevail.
YOU WANT TO SEE A REAL TRADING MARKET!? … well, cast your eyes on BTC
over at IQCENT and take a look … THIS IS WHAT “TRADING” LOOKS LIKE IN A
FREE MARKET, STRIPPED OF THE MANIPULATIVE BULLSHIT WE SEE FROM
CENTRAL BANKS AND THEIR BFF SCUMBAG BANKING LP’S … so far today in
New York trading [from around 6:30 AM EST onward], about a $900 range of
UP / DOWN roller coaster action … it’s all over the place, highlighted with PANIC!
… with almost 100% spec participation, what’s not to like?! … quite frankly, if you
can’t make money trading this market with a 1 PENNY SPREAD, YOU CAN’T
MAKE MONEY PERIOD!! … this makes floor trading from the pits of yesteryear
look STUPID! … TRADE WITH THE PANIC!, LIQUIDATE WHEN IT STALLS … even
Dopes on the trading floor who had IQ’s less than a bag of carrots could figure
this out!
I’m gonna need a forklift to put all of the BTC trades today for “The Syndicate” in
the account … and we haven’t even hit the 20 Day Range of ~$1100! … I use the
m1 with the special trading algorithm on the MT4 at Coinexx to track, and then I
have the m3 at IQCENT on their trading platform … use one with the other and
identify explosive potential m3 formations I highlighted earlier … when it “goes”,
go with it … when it stalls liquidate! … this is as good as it gets! … today for
“The Syndicate”, WE’RE UP APPROXIMATELY 3.3% … and when trading starts
tomorrow in oil for the PAMM, I’d like to match these results here
… onto tomorrow!
… 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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