Is there anything the government CAN’T FUCK UP? … well no actually, as
incompetence, stupidity, graft, & corruption to name just a few headlining any
effort at anything … already a “hack” and a fake approval yesterday late in the
day for “shits & giggles”, no doubt setting laughter roaring in the hacker
community … why does anybody with a functioning brain trust any of these
government Morons??
Something has been “gnawing” at me for days on end, and up ‘til last night when
I had a “moment of clarity” in a pit flashback from yesteryear, it was starting to
bug me like an itch that wouldn’t go away … then BOOM! … and suddenly in
seconds it all lays before you and you realize just how fucking stupid you can
be for not seeing it earlier … back in the day, “Spoos” futures were the craziest
shit on earth, and people would walk into the pit from other pits and say to me
something along the lines of, “this shit is wild, how can you trade it? … the
money swings are fucking insane!” … fast forward, and can you not hear the
same of Bitcoin today?
As long as BTCUSDT [Bitcoin] is “quiet”, meaning ranges are shit and trading
action relatively subdued, IQCENT can handle BTC trading and you can scalp
there or day trade easily … but get ANY VIX stirred up at all, and it’s a totally
different story! … it wasn’t that many weeks ago when BTC had a 20 Day Range
MA of less than $500, and price was down in the 25 - 30K area … much different
today! … at most major crypto houses, which are open order book platforms
[OOB], spreads are 1 penny but commissions are 0.12% unless you’re a very
active trader … at current price of around 45K, that means if you trade at
Binance or Phemex you’re gonna pay about $54 to trade 1 BTC, and that
doesn’t include OOB slippage … it makes IQCENT look awesome! … but IQCENT
has changed, and you can’t trade it like you could 6 months ago … about the
only thing you can do now at IQCENT with BTC is “arb scalp” it when
BASIS PREMIUM gets totally ridiculous.
Meanwhile at Coinexx, the commission on BTC is based off the FX model, which
is $1 per side per 100,000 notional, so a round turn [RT] trade in BTC on a 1 lot is
about $0.90 … good enough, but then the spread is about $25 - $35 under
somewhat normal VIX conditions … still a better deal than what traders get at
Phemex or Binance by about a factor of 40% - 50% better … given that the
current NY session 20 Day Range MA is about $1570, that approximate $35
cost to trade = ~ 0.0222 … looking at gold, it comes to about 0.02 - 0.03
depending on slippage … it’s only cuz the dollar money swings are huge do
people sit up and take notice of Bitcoin and label it bat shit crazy [BSC]
… outside of a day or two every 6 months to a year, I don’t hear any of that when
people speak of gold … but the “silent” difference here is that crypto moves and
moves well … if the ranges are there, it doesn’t sit, and the corrective activity
within trends is much better and more conducive to profits than anything gold,
FX, or “Stock Bellies” can give a trader.
There are dozens upon dozens of multiple hundreds of dollar moves in a day in
BTC … most days there ain’t shit in traditional markets, and if they don’t go
straight up/down, there are only 1 maybe 2 chances for corrective activity, and
that’s if you’re lucky … only free markets in crypto offer any chance of trading
activity … so while range is important, what’s more important is VIX and what
volatility is present when you trade it over the expected course of the day's
session activity … for sure there isn’t a higher value market than BTC … so, why
embrace anything less than what BTC gives us? … onto BTC for the PAMM when
this ETF shit is over and done.
I’ll resume normal trading for the PAMM and “The Syndicate” once Idiots in
government approve the Black Rock ETF in Bitcoin, whenever that comes here
shortly … more on BTC in tomorrow’s blog.
… 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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