The “inside baseball”dynamics of crypto are night & day different from anything
you’ll see from traditional markets on the MT4 … there isn’t a house out there,
along with their super secretive [so called] “tier 1” liquidity providers who ain’t,
that are gonna let you scalp your way to be my neighbor in the Caribbean
… quite the opposite! … sure, you may occasionally get a profitable scalp but
not consistently, cuz the roadblocks they’ve put up are daunting … 1) “variable
bid/offer spread games”, 2) horrific slippage built into your fill automatically,
where the house and the LP split the theft, and 3) of course commissions … what
you think you’re trading anything at, trust me you’re NOT!
How do I really know on the MT4, if I’m getting the true market, OR MORE LIKELY,
I’m getting 1) a phantom bogus quote where a snowball in Hell has a better
chance of surviving than you getting that bid or offer, and 2) it gets worse from
here as I enter an order and get raped again? … and to make matters worse, we
have no way of knowing who or how our order was filled cuz the house won’t
tell you … you got to trust the house … “NO FUCKING THANK YOU!”
The major problem with traditional “open order book” [OOB] crypto trading are
the “gas fees”, now running around 0.12% for a round turn commission … that
equates to about an 8 - 10 tick “hit” in XRPUSDT [RIPPLE] around $0.70, at
places like Binance, Phemex, ByBit, Deribit, etc. … sure the spreads are one tick,
but so what, when total cost is gonna be 10 ticks if you’re lucky?
What makes crypto truly unique, is that there are dozens upon dozens of places
to trade it, meaning prices get out of line with each other from exchange and
platform, that spells opportunity … and if you don’t know what “arb scalping” is,
wise up and learn cuz it’s the fastest way to a fortune! … in its simplest terms, by
using an example, I’ll lay out the concept … I’m watching and tracking XRPUSDT
[RIPPLE] AT COINEXX, cuz it’s the MT4, the spread is below the “gas fees”
charged by the bigger crypto houses, and I can put the entire scalping algo up
on the screen … Coinexx uses a large HFT [probably Blackrock or Citadel, but
who knows?] for their LP trading operations, therefore I know the “bid” is legit
… I’m trading XRPUSDT for “The Syndicate” at IQCENT, which has a 1 tick spread
at the 4th decimal place, with no commissions … I want to be on the long side of
crypto for one big reason, and that is 99.9% of all traders, and there are millions
of them from all walks of life, want to “hit it big” with crypto … they love MOMO
and they love to FOMO, and when that doesn’t work, their sell stops provide
plenty of fresh ammo for the “whales” to cover shorts and get long again for the
ride up … fact is, not that many retail spec traders want to be short any
crypto pair.
So the essence of “arb scalping” is to buy at IQCENT CHEAPER THAN THE BID
AT COINEXX … and the bigger the better! … when SHTF the other day, Miss
Gimpy bought XRPUSDT 200 TICKS UNDER THE COINEXX BID, AND WITHIN 30
SECONDS PUMPED IT OUT 250 TICKS HIGHER … granted, that’s a Helluva
anomaly in price differential, but when people panic & puke, this is what happens
… in traditional markets you see this, but the fucking scumbag banks keep it all,
and you get NADA! … under normal trading conditions, this “basis” will fluctuate
± 20 ticks all day long … that’s why I say, if you trade crypto you have to know the
“basis” from where a large LP is quoting … what good does it do you to buy an
algorithm signal if at that moment the basis is +20, IQCENT OVER COINEXX?
… you’re gonna have a Helluva time making money on that trade cuz you paid far
too much for it! … ALL OF MY LONG TRADES I BUY AT A DISCOUNT TO THE
COINEXX BID! … USUALLY WITHIN SECONDS, THAT ADVANTAGE DISAPPEARS
and I have a profit “el quicko mucho” … “thank you, come again!” … and quite
frankly, this is as close to the bygone era of floor trading as you’re ever gonna
get! … IT’S IN CRYPTO, AND IT AIN’T ON THE MT4 OR MT5!
IQCENT has some very good to excellent crypto markets where you can do this
all day & night long … XRPUSDT [RIPPLE], POLYGON [MATIC], DOGE COIN
[DOGE], & ETHEREUM [ETHUSDT] … I’ve left Bitcoin off the list cuz quite frankly
I have become very disappointed with the way their scumbag LP turns the Bitcoin
feed off every fucking time it moves … IMHO, it’s just not worth it to trade under
those conditions … and oh yes, I’ve screamed at them plenty, but like all
brokerage houses, they don’t give a shit, they do what they want … today a
somewhat slow day considering the week as a whole, only some minor trades in
XRPUSDT on light volume … ‘The Syndicate” nonetheless UP APPROXIMATELY
0.4% … IT IS FRIDAY AFTER ALL! … MEANWHILE OVER IN “BUCKET OF SHIT
LAND”, otherwise known as “”traditional markets”, what a sad display of
something that used to be called trading … why even bother? … Brent Oil for its
part, doing nothing the entire day, and then just before the London Fix,
Coinexx’s LP shoves the spread from 1-2 pennies to 5-6 cents per barrel … of
course they did!! … more spread games! … No trades in oil today, absolutely
nothing to do on another slow crawl “dead cat bounce”, albeit with a nice fat
spread … what a bunch of fucking criminals, but we already knew that
… 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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