Follow the flow of money! … nothing else matters … “Spoos” exist inside the
“88/6/6” paradigm, unlike other markets, so use this advantage for your benefit
… be especially careful of late afternoons, where moves can become
exaggerated, and don’t buy breaks after 2:30 PM EST if algorithm signals break
down and then give a buy signal … while things may turn out for you, many
times there isn’t enough time on the clock to the close to get others to follow
suit and carry the market higher, and the last thing you want is to be forced out
cuz of time.
Use the m15 as a barometer for success on the m1 … know generally speaking
where volatility is trading at and use appropriate RM levels for support /
resistance … if that happens to be RM=2 and RM=3, and the market is hitting the
upper boundaries of this resistance, it’s time to liquidate NOT get yourself into
new long positions … the m15 can give you information that the m1 can’t!
… whether you scalp or day trade makes no difference.
Unfortunately for us in the PAMM, we happen to be at Coinexx, one of the worst
“slippage whores” operating, and as today proves yet again, you can’t believe
‘em or trust them to make a decent market in ANYTHING but metals and crypto,
and that’s it … for some unknown reason, LPs in these 2 groups fill adequately,
and on occasion are better than expected … our tiny volume order in “Spoos”
got robbed, mugged, and then raped with slippage, and there’s no way I’m
putting up with this shit for a second … just unreal slippage by a bunch of
fucking thieves … my advice for “Spoos” still stands however, and a decent
place to trade it is at “SIMPLE FX” … 0.3 INDEX SPREAD ND NO COMMISSIONS,
with minimal slippage if any … unfortunately, they don’t have a PAMM or any
money management services available.
Back to metals and ETHUSD for the PAMM, and even though they aren’t in any
kind of “88/6/6” trading paradigm, the advice above goes double for gold & crypto
… crypto meandering around, although with large ranges, but going nowhere but
down, especially ETH … gold and silver have become the go to “FOMO & MOMO”
market, with the kind of ranges we’ve been dreaming about for ages but haven’t
seen cuz of FED manipulation … well, that’s out the window! … more straight
shots up/down than I’d like to see, but on the other hand that’s what “FOMO &
MOMO” give you! … our only choice is to ride with it or sit out … still, I’d feel
more comfortable in a trade if this market could correct some … just too many
longs for my liking … but hey, it is what it is.
It’s difficult to make the case that gold is in some kind of choppy market today
with a NY session range so far of over $30+ per OZ. … but outside of one 30
minute period where it raced up from nowhere, it hasn’t exactly set the world
on fire, but instead gone into the slow crawl mode with sporadic bursts both up
& down … and once we got screwed in “Spoos” and I turned my attention to
gold, I’m looking for evidence of good scalping conditions … and while not
“perfect” cuz nothing ever is, they’re pretty “Hoover Dam” good in present form
…. You just have to take what they give you before they attempt to take it back,
and then not worry about what’s next … rinse/repeat, it’s a solid game plan IMHO.
We should have seen some kind of determined correction by now in gold from
the FED, the only central bank interested in price suppression with their Buds
at the BIS … that they can’t break it speaks volumes … not even higher rates is
denting gold, although if the 10 YR. breaks 5% on the upside all bets are off the
table … point is, I don’t see VIX in gold backing off much going forward, and
given its present level of daily and/or NY session ranges, there’s enough fear
& greed in the marketplace to embolden scalpers and make it highly profitable
with relatively contained risk versus longer holding periods … granted, it would
be nice to see a lower spread, but what good is a quoted lower spread if the
scumbag bullion dealers rip you a new orifice via slippage on every trade? … it’s
the psychology of the trade via “FOMO & MOMO” that is getting people to either
buy or sell, whereas in earlier times they would have balked at paying up … with
$30+ ranges every day, they’ll pay up!, cuz they know if they don’t it could get
much worse on the fill … this market moves soooooo “Hoover Dam” fast &
furious! … isn’t that what we want from scalping?
Trades today in “Spoos” [the last one you’ll ever see] and gold … we’re DOWN
FRACTIONALLY THANKS TO GETTING RIPPED IN “SPOOS”, AND UP IN GOLD
… my order of preference in training now that “Spoos” is not a viable trading
option at Coinexx, will be 1) gold, 2) silver, 3) ETH, & 4) BTC … if these don’t
move, nothing moves … 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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