With every metric ever measured foisted upon an unsuspecting spec public, and
both BTC & ETH at historic and record setting overbought readings, who wants
to be standing looking for a chair when the music stops? … and as we’ve started
to see already, downdrafts are messy [understatement if there ever was one] with
blown out spreads and ridiculous slippage … what can possibly go wrong? … cuz
when you enter “The Twilight Zone”, very few can see that they’ve entered it and
that something is different … and while the market sucks in every last nickel
available, nobody is gonna “ring the bell” at the tippy top nor send you an email
… quite frankly, we’ve reached that point, but the giant wildcard nobody can
predict cuz it’s never happened before, are the corporate Dopes yet to FOMO
either BTC and/or ETH and suddenly pour billions into crypto, making what’s
happened so far look like a 1 PIP blimp in EURUSD … maybe they do, maybe
they don’t, but retail specs don’t have that ammo to play with like mega
institutions.
In reality, though, it doesn’t really matter to a trader, who if they’re doing it right
“trade it, and don’t date it” and could care less whether ETH is at $100 or
$10,000 … trading action is what counts, and especially when it comes to the
session you’re trading … the way the trading algorithm was developed and set
up, VIX in your session = money … NO VIX, NO DINERO!, or very little of it … so
if ETH [or BTC] continues to go straight up day after day, so be it, no sweat off
a traders ass, cuz we know at some point here shortly both pairs will become
reacquainted with gravity in a butt ugly mess … no matter the market, every spec
thinks he/she/ it can get out at the top … and instead gets the sell stop fill at the
bottom of the vicious break … yesterday’s $5K+ drop in BTC a “dry run” for what’s
coming … ditto with ETH, that saw a $200+ drop … suck ‘em in long, open the
trap door, and in less than 120 seconds, minutes / hours / days of up price gets
wiped out … and if history holds, this process of “tops are a process” will wipe
a good deal of spec’s fortunes right off the map.
Today sees me make a BTC trade, via very light volume, and quite frankly this
is probably the last time I trade BTC at Coinexx … getting filled about $70 off
the offer, and then liquidation sees another approximate $30 in slippage, tells me
this is suicide on a financial level … this is bullshit & blatant thievery
… fortunately, just a lesson learned at a cheap cost … if you’re into trading BTC,
it sure as Hell shouldn’t be at Coinexx … there has got to be far better places to
trade it … I’ll stick with ETH, where Coinexx is pretty good but lately I’ve gotten
some shit fills here off the bottom as well on buying panic sells … only the one
trade today for the PAMM … WE’RE DOWN SLIGHTLY, thanks you very much
Coinexx LP in BTC for the shakedown … next week sees me go higher volumes
in ETH, so trading will pick up there … blog update on Sunday … CYA then!
… 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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