Bitcoin gets most of the press and attention, but Ethereum [ETH] is right up there
in terms of DEFI importance, development, structure, and functioning of APPS
that are being developed as I write … and at IQCENT, trading ETH gets you the
same superior conditions that Bitcoin gives you ,,, viz., 1 penny bid/offer spread,
no commissions, and NO SLIPPAGE ON FILLS … yes, markets move, and if you
buy on the way UP or sell on the way down, your fill is gonna be not where you
wanted it to be … but! … and this is a “bigly & yuge” but, you aren’t gonna get
the horrific slippage you would get if you were at Coinexx or some other houses.
Standard “gas fees” [commissions] now run 0.06% per side, unless you do
large volumes … do the math, and at current prices for ETH, that comes out to
about $2 in commissions each time you trade … at IQCENT IT’S 1 PENNY, WITH
NO COMMISSIONS … you aren’t gonna get penny-for-penny movement with ETH
at Coinexx, Binance, or Phemex, unless the market is unusually active, but you
ain't payin’ full boat retail spec commissions either … so just like Bitcoin, you can
profit while others gotta wait to escape the spread … this is a huge advantage!
… and just from my, as well as “The Mrs.” & Miss Gimpy’s [who btw have
become excellent scalpers in their own right] experience trading crypto at
IQCENT, I’d say roughly 80%+ of trades are inside the spread of mainstream
crypto houses … and don’t think the “arbs” [arbitrageurs] & whales don’t know
this cuz they most certainly do … the army of specs that are waiting for $30 - $50
moves in Bitcoin so they can scalp, find out real quick the market can “hit the
wall” with either support [going down] or resistance [going up] against their
trade … and it’s EXACTLY THE SAME SCENARIO IN ETH, ONLY
PROPORTIONAL!
The special trading algorithm I developed for “The Mrs.” & Miss Gimpy, I’ve
added a new feature … I think most people will find it very helpful cuz it pinpoints
key Gann “Square of Nine” [SO9] support / resistance “ zones, where price can
be expected [in a probabilistic sense] to either find support and move higher, or
find resistance and move lower … all of this in a “Volatility Matrix”, where you
can change the VIX settings “on the fly” as the market exhibits higher or lower
VIX trading … these are known as “Risk Models” [RM], with each RM having 3
zones … about 90%+ of the time you’ll be in RM=1 mode, and unless some big
news drops that “bigly & yuge” affects price almost instantly, over 99.9%+ of the
time the 4 RM’s will model the market … you can also use the higher RM’s for
longer time periods on your charts, e.g. m15, m30, h1, and/or h4.
Simply think of this as an “upgrade” of the “Special Trading Algorithm” … I will
publish the Adobe pdf manual this upcoming weekend with the Sunday blog
update, which will explain all of this in much more detail … parameters for
GBPJPY, BTCUSDT, ETHUSDT, & XRPUSDT will be in the manual … I include
Ripple [XRPUSDT] cuz both “The Mrs.” & Miss Gimpy watch & track it, and on
occasion will trade it … IMHO, once the idiotic lawsuit the SEC has against
Ripple is finished, this coin will explode higher … that could be tomorrow or in
years, who knows? … more than likely, a meaningless settlement will happen
so that the SEC can save face and not look like total Fools that they are
… government, whaddaya gonna do? … the punishment is the process.
Turning to today’s “Slots-A-Rama” inside the world’s most corrupt casino, it was
nice of the ChiComs to take the sell stops out of GBPJPY wasn’t it? … then turn it
around while we all sleep and here we are right back to where we were late
afternoon yesterday … thanks guys! … and as I write, BTC just got monkey
hammered and we had a move down to the RM=4 level before temporary support
was found, then another break down to RM=3, where it touched and rocketed
… like I said, a beautiful aid in highlighting support / resistance so no matter
your position you can make a very intelligent trading decision as to when to
liquidate … well, this day should be interesting!
Jobs claims a nothing burger, but ADP with a blowout surge in employment
… thank you Chili’s & Applebee’s! … Coinexx LP’s with their usual bullshit
spread FUBAR in Cable / Yen … can’t do anything ‘til this horseshit ends
… what greedy assholes!, and don’t anybody give me any of this bullshit of
“DUH!, market conditions, DUH!” … ain’t buyin’ any of that propaganda … STIRS
going bat shit crazy [BSC] to the upside, with the 2 YR. T-Note now at 5.08% [on
its way to 5.20%, a 16 year high], a 2023 high … higher for longer, and that’s
weighing mightily on Bitcoin and other crypto.
Meanwhile, all of this monkey hammering of crypto, including ETH, sees the
Coinexx ETH bid/offer spread balloon out to over $2 from around 30 cents … it’’s
why you don’t trade ETH here [OR ANY CRYPTO FOR THAT MATTER], cuz THEY
ARE THIEVES! … THEY STEAL FROM YOUR GAINS AND THEY ADD TO YOUR
LOSSES!
Today is exactly the kind of day where many will find trading ETH superior to
BTC … some great scalping action, and it doesn’t matter which side you’re on
cuz they are both working excellently via the algorithm … the primary advantage,
IMHO is that you can hold onto gains longer in ETH looking for better pricing
… that isn’t to say ETH can’t hurt you or move fast, cuz it can in spades … but
relatively speaking compared to BTC, on days where SHTF about every minute,
I can definitely see why many would want to trade ETH over BTC … and the only
place to trade it with a 1 penny spread is IQCENT WITH NO COMMISSIONS.
For those keeping score at home, let me recap the day in Cable / Yen … straight
down, straight up, straight down [almost back to the low but not quite, rally into
the middle … there you have it … and if ever there was a day for the BOJ to
intervene, today was it, as STIRS hit 17 year highs in yield [2 YR], and the cross
got everybody and their pet rabbit long in the upper 183’s, but couldn’t break 184
despite repeated attempts … perhaps the BOJ Apparatchiks know something
about the payroll numbers tomorrow? … higher rates to come? … we’ll see
… what a FUBAR day, as the real trading came about in the Asian session and
early European session … after that, as has become the norm, nothing left for
the U.S. session except shit … no trades for the PAMM today in GBPJPY, but that
will change starting with tomorrow’s trade {maybe] pre NFP, but most definitely
post NFP … the updated special algorithm aid working exceptionally well, and
giving better information than before … what’s not to like?
I’ve never seen 2 women in my entire life more “giddy” over a market that got
creamed lower, than “The Mrs.” & Miss Gimpy on being short Bitcoin today for
most of the day … some great trades from the short side, with the ADP blowout
number providing fuel for the decline … a shipload of trades for “The Syndicate”
in BTCUSDT, and we’re UP APPROXIMATELY 0.9% … not the easiest of days to
make coin from the long side, but as usual the market gave us our opportunities
… 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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