So many issues to deal with as a trader, but fortunately things have worked out for
us, as crypto has shown the way and help to destroy the monopoly large scumbag
banks enjoy, thanks to central banker scum, and made the trading environment
paradigm noteworthy for its changes … today is “Part 2” of a 3 part series on
Ethereum [ETHUSDT] trading @ IQCENT … why only at IQCENT? … CUZ THEY
HAVE 1 PENNY BID/OFFER SPREAD WITH NO COMMISSIONS … next question.
And while trading ETH is the MAX bet for my money, trading EURUSD with a
0.1 - 0.2 bid/offer spread with no commissions but much larger leverage, is right
behind ETH … when EURUSD moves, it’s hard to argue with it as a trading
vehicle … the first thing you need to do is adjust your mind right to scalping
… and no, I’m not talkin’ about some new age bullshit about envisioning your
reality, I’m talkin’ about “thinking like a scalper on the trading floor” … I was there
for a very long while, and I know from which I speak … most floor traders [locals]
were dumber than a box of rocks, and even the lowest of the low, the so called
“1 lot pond scum” traders made 6 digits per year, but they had discipline and
patience and they “figured it out” … meanwhile, the educated that came in the
door thinking they had it all figured out, most likely didn’t last 1 month … “quite
frankly, you have to adjust your head and wrap around the idea of what it is
you’re doing" … and what you’re doing as a scalper is “buy at 1, and sell at 2”
OR “sell at 2 and buy at 1”, rinse / repeat and do it another million times … cuz
the “Wolf of Wall Street” had it right … “if you can make $1, you can make
1 million more!” … be a scalper, not an analyst, and never take big hits on a
trade … never!
I’ve mentioned a few times the ETHUSDT market at Phemex, directly below the
link to ETHUSDT open order book at Binance for ETHUSDT.
https://www.binance.com/en/futures/ETHUSDT
Either of these, Binance or Phemex, or Coinexx, are good places to compare the
USDT market in ETH against ETHUSDT at IQCENT … again, this is the “basis”,
and it’s important cuz all 3 of those platforms are bigger than IQCENT and more
importantly will move first by about half a second … and again, I find IQCENT
ETHUSDT about 1.2X - 1.3X more volatile than those markets, and quite frankly
I think the reason is cuz that’s how the LP makes their money off the trade
… sure, there’s the “arb” fill guarantee, but the bigger steal is filling late comers
at highs and lows and profiting from that … and so, if you’re late to a trade you
just might pay an extra 30 - 50 cents [maybe more, who knows] on a spike up
buy or a spike lower sell … HINT: “don’t be that trader, OK?!”
While overall macro trends of the trading day via “risk on / risk off” [RORO]
bullshit continue in every market to some extent, the m15 isn’t as important in
ETHUSDT scalping, as it might be for EURUSD … I know there are plenty of
people that hate crypto, and I know plenty of people that love crypto, and quite
frankly whether you trade ETHUSDT from the long or short side makes no
difference to me … no side has the advantage, although it does seem that
vicious rallies are more frequent and bring about more violent price moves more
often … outside of the “one offs” lower we’ve seen in crypto over the last few
years, that description is quite accurate, therefore I want to trade ETHUSDT
from the long side … but if you feel more comfortable from the short side, have
at it, it’s simply the flip side of being long.
Turning to today’s bullshit after Spicoli pissed in the 2024 bubble asset
punchbowl yesterday, with a very hawkish “dot plot” going forward, just
remember that saying is one thing and doing is another … don’t believe a
fucking thing coming out of his PIE HOLE ever … he’s a political hack
emboldened to the Global Elite Rothschild group … and rates go higher … don’t
fight the rate tape, and nowhere is that more appropriate than in gold, where
rallies today few & far between that lasted longer than a few minutes, and the
best rally of the day went about 30 minutes right after “Stock Bellies” opened
… gold needs better ranges, and it needs for rates to stop rising … no trades
for the PAMM today, as I’m not fighting the rate tape when it’s going higher
… but make no mistake, gold is about ready to take off when SHTF and the
economy implodes … that’s coming a lot sooner than most think … over at
IQCENT, a shipload of light volume ETHUSDT trades for “The Syndicate”, and
we’re UP APPROXIMATELY 0.3% … 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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