SUNDAY UPDATE: CRYPTO MASSACRE & OTHER UGLY THINGS

 

“Saturday morning was something else!”

Anybody who needs a lesson in panic selling, got it in spades Saturday morning

in crypto, especially some of the alt-coins … Cardano, one that I trade for

“The Syndicate”, during the week traded as high as $1.6000 … Saturday morning,

it got down to $0.9150 before recovering up to about $1.1000 where it is as I write

… that’s quite a “haircut” in a matter of days, especially when there is no

“bad news” … other than the fact that the entire country is being led by a bunch

of Libtard, Communist Fools who are so tone deaf and out of touch with normal

‘Muricans and what they care about … with “Taliban Joe” in charge, you can

assume with 100% certainty he will FUBAR anything & everything he touches

… “did he just buy some crypto and/or stocks”?

Then there’s the “ugly girl” syndrome … I look at every single market Turnkey

offers for trading, and all I see are girls with warts and all are clinically obese

… wasn’t that somethin’ on Friday when for over 9+ hours Cable couldn’t fucking

move 20 PIPS as the world is burning down? … welcome to life inside the rigged

casino, and what surprises me is that the 4500 level in the “Spoos” gave way so

fast, it was like a chainsaw through a soft butter stick … so, with literally

everything melting down into “goo”, when does Spicoli “stick save” the

“bubbles”? … cuz here’s the dirty little secret … if we get another week like last

week in mainstream markets, especially “Stock Bellies”, there won’t be any

stopping the wholesale panic that ensues, no matter what the Lounge Lizards

say from on high … and they know it … once panic achieves a certain “critical

mass”, it feeds on its own and goes into “The Twilight Zone”, where there are

ZERO rules and literally anything can happen … look for the Lounge Lizards to

start “walking back” all this interest rate hike bullshit, cuz they’ll find a reason

or reasons to do so … excuses are easy to manufacture.

Priscilla The Trading Gorilla [PTTG] continues her battle with something akin to

the flu … COVID, Omicron, who the hell knows … going into the third week now

… I talked with her this weekend, and she simply has no energy or stamina, and

she tells me she feels like she is living in some kind of “fog state” … and yes,

she’s taking some medications and slowly getting better, but she isn’t anywhere

near 100% … so I’m gonna delay results until she gets back, and she hopes to

be trading again sometime this week … Godspeed, and markets will be here

when you’re ready.

I’ll have the updated 20 Day Range MA’s updated next Sunday.

… outta here … “The future’s so bright I need sunglasses”!! 😎😎

… Onward & Upward!!

-vegas

WATCHING A MARKET DIE IN REAL TIME [MAYBE]

 

“It might be a long wait … on the other hand it might be temporary!”

The trading game has changed in the 2 “big dogs” of crypto, BTC & ETH, and

what you see now is gonna be the norm … and that is? … spikes in price from

hell out of nowhere, both up & down, and then no follow through as it will then

sit for hours doing nothing until the next time of rinse & repeat … and it’s a direct

result of the new very tight “forced liquidations” policy now standard on all of

the big offshore crypto houses, where you don’t have “Mr. Jack Squat” to say

about it … the “whales” & the big LP’s have spoken, and all that’s left in these

once vibrant markets is “forced liquidation” stop runs on both sides to screw

specs … I hope I’m wrong, but from where I sit today, this is what these markets

look like … today again here early, seeing this pattern play out more than once,

and why would it stop if that’s what the big boys in the sandbox want?

PPI numbers out, and only a group of bubble markets would cheer producer

inflation of just a hair under 10% … and as we all know, that’s simply the official

D.C. Swamp propaganda number, not the real number … and the lies continue

unabated top to bottom.

In my haste yesterday of crapping on Turnkey’s markets and specifically their

LP’s [cough, bullshit, cough], with their ability to magically FUBAR every

“Stock Bellies”, gold, and FX market, the ONLY market I haven’t been mugged

and raped in is oil … so that makes me looking at ETH, LTC [maybe], & WTI oil

to trade.

Afternoon in New York, and I don’t know what the hell is happening to VIX, but

oil has a whopping $1 range [20 Day Range MA currently = $2.31] and ETH has

really lost its “MoJo” … range here today about $138 [20 Day Range MA = $195.81]

… I have a pretty good idea why ETH is in the shitter, simply cuz of the new idiotic

extremely tight “forced liquidations” dictates forced down traders throats, which

only benefits the “whales” and large LP’s making a market between exchanges

… but oil is another story, and nobody is really interested in selling it, and new

buyers are hesitant cuz of the strong run straight up, so we’re kinda at an

impasse where everybody looks around and wonders who is gonna panic first,

the longs or the shorts … and to both markets, they are trading horribly! … m1’s

very small in scope.

To give you an idea how bad it is in ETH, look again today at the action off the

low in both ETH & ADA [Cardano] … directly below, first ETH, and then the

second chart is ADA right below it.

click on chart to enlarge [white line is spot]

click on chart to enlarge [white line is spot]

While ETH goes $10 off the low [big whoop], ADA goes TWICE 250 TICKS!

… where’s that kind of action in ETH? .. I’ll tell you … unless I’m very wrong

about this, IT’S IN THE PAST! … for the most part, the alt-coins have higher

thresholds for “forced liquidations” and aren’t really a factor … add to that, they

aren’t usually like BTC or ETH, where they force you out and then scream rapidly

away from your liquidation … so you have to ask yourself who benefits from this

… it sure as hell ain’t the client now is it?

Trading for “The Syndicate” in ETH, plenty of times pre new years, I’ve captured

$25 - $50 moves up off lows in under 3 MINUTES! … so where are those bounces

now? … instead, we get these pitiful couple of dollars moves that take 20 minutes

to go $15, and that’s if you’re lucky! … ughhhhhhh! … there really are no time

constraints for crypto, like there are for traditional markets that open & close, and

shut down for a while after the New York day is complete … crypto is 24/7/365 and

never sleeps, so there is no bias for certain time zones or world trading sessions

cuz they’ve all moved in every one of ‘em! … for ETH, it’s all about its 20 Day

Range MA and whether or not it’s rising or falling … 3 weeks ago ETH had a 20 Day

Range MA ABOVE $300+ … now it sits at $195, and today’s range unless things

start to change soon, is gonna come in under $140 … sure, you can maybe excuse

the Holidays and that messes things up some, but there’s no valid market reason

why trading conditions should stink like they do … they stink cuz of new rules

handed down, mostly in BTC & ETH cuz they are the ones affected the most … I

hope conditions bounce back, but I wouldn’t at all be surprised if they didn’t.

And without some kind of “proof” that bounces off short term lows have some

meat on them, I’m gonna need to see it reflected first in the ETH market before I

go back in, otherwise it won’t be worth it cuz I’ll get trapped once it regains the

move lower again … show me you can do it ETH! … otherwise, the algorithm

loses that kind of functional trade and we have to wait until the “wind” is at the

markets back in order to get long … well, as I write ETH broke to new lows for the

day, and had a 3 minute bounce of $20 … that’s good news! … on the other hand,

ADA bounced 100 ticks in less time and you sure as hell can make more in ADA

cuz the coin is radically smaller and allows for bigger percentage gains cuz of the

leverage available, and the razor thin spread + low “gas fees” compared to how it

trades makes scalping it a favorite of mine … I’ll take what we can get, though,

and at least it’s a good sign going forward … and Turnkey’s LP’s in ETH didn’t

blow the spread out much either … less than 50 cents, so that’s another good

sign … range still sucks, but the day ain’t over either … we’ll see what happens.

As for oil, it’s pretty clear it has to break in the New York afternoon first, cuz early

breaks get bought with impunity … seriously, the entire world is long oil, and

when the proverbial “profit taking” comes, if it comes in the NY afternoon it could

be quick, vicious, and run quite few sell stops … at this point, it’s due!

No trades today in anything … overall, this is a disappointing day from a trading

perspective in 2 of the most volatile markets going … ETH & crude oil, and if it

ain’t moving properly you simply can’t trade it … onto tonight & tomorrow, and

hopefully one of these 2 markets wakes the hell up … over in crypto land, I’ll start

trading ADA tomorrow for “The Syndicate” … I’m satisfied with its action, so

it’s a “go”.

 … outta here … “The future’s so bright I need sunglasses”!! 😎😎

… Onward & Upward!

-vegas

UNDERSTANDING CRYPTO & MARKETS OVERALL

 

“Trade any traditional market at Turnkey, and this is in your future!”

You simply can’t believe how many times I had to put eyeballs back into my

head yesterday after they popped out! … dealing with Turnkey has a way of

doing that … purple was not an attitude option yesterday, cuz we were way past

red & purple on the “pissed off” meter … I’m OK today, though, cuz I had a good

therapy session yesterday afternoon with Lime & Corona, and it’s amazing how

Vitamin C is so therapeutic! … I can’t wait to get the good laugh after Turnkey

responds back to me with the results of their “investigation” … that would entail

asking the LP if everything was OK and did I get ripped off, which of course is

like asking the fox if any chickens got hurt in the henhouse last night

… “Nope, everything is fine”! … screw ‘em. [And yup, that’s exactly their

response … “the LP says everything is good! … oh, I bet they do”!]

Now, I wanna make something crystal clear here … there are good offshore

houses for trading traditional markets, where fills are instantaneous, round turn

commissions are very low or non existent, the bid / offer spreads are excellent,

there is NO SLIPPAGE, you can deposit / withdraw in dozens of crypto coins, and

there is NO KYC … the Mrs. loves Simple FX, although their crypto offerings are

a joke … but, they are excellent for the “Stock Bellies” and crude oil, and above

average for FX if that’s your thing and can’t pull yourself away from it.

CPI numbers are out … who needs food & energy? … highly overrated in living

any kind of life, right? … that’s what the Gubermint says! … only 7% annualized,

what a deal what a deal … and if you’ve shopped for food lately, that 7% is a

fucking joke! … but no worries, “Taliban Joe” is on the case, destined to make

it far worse before anything gets any better … count on it!

New ATH coming up in the “Spoos”, cuz inflation only met expectations of 7%

and isn’t 35% [yet] like Venezuela, so it’s full speed ahead to record highs … the

“Plunge Protection Team” [PPT] will make sure of it later today and into

tomorrow … and looking at BTC & ETH, they’re a fucking mess … as we now

know, “forced liquidations” in both rule the roost, and expect vicious m1 spikes

[up & down] followed by nothing … and sure enough, that’s what the day shows

on the charts … this is an extremely sad turn of events. Meanwhile, some of the

alt-coins, like ADAUSD [Cardano] are trading well and haven’t missed a beat.

Here are the things I won’t step in front of when trading … 1) FED interest rate

meeting decisions, 2) NFP report, and 3) inflation numbers [CPI & PPI] … the

reason is simple … they greatly influence “risk on / risk off” [RORO], and the

scumbag banks or HFT LP’s rip traders off every time they come out … just look

at today’s CPI print … and yes, it affects crypto every bit as much as it does the

other markets on the MT4 / MT5 … post CPI print, here’s the m1 for ETHUSD

directly below.

click on chart to enlarge

Now here’s the same time period for ADAUSD … it’s like corn spreads versus pork

bellies, the difference is striking! … while one can barely move $10 [ETH], the

other has a grid of 50 ticks [ADAUSD].

click on chart to enlarge

The ETH m1 has about a $6 grid, and the ADA m1 has about a 50 tick grid, where

1 tick = $0.0001 … ADA trades to 4 decimal places, and even if you had to do 2

market orders and pay the “vig”, it would only come to 0.0008, and as you can

see, it clearly does that and a whole helluva lot more! … ETH has a cost of about

$2, but if it moves it will be higher … and as you can see, market moves $10, and

you gotta give up at least 20% of that to the LP … where the hell is the old ETH,

that would go up $100, then go down $150, before ripping higher $200? … instead,

we got this shit of miniscule moves, and compared to an alt-coin like Cardano,

it’s now slow as molasses in January!

It’s called “forced liquidations” that are now much tighter than they were pre new

year … and that leads to “bigly & yuge” spikes [up & down] that screw specs and

force them out of positions, regardless the size of your account … you could

have $100K in your account and trade 0.01 ETH worth about $33 … ETH goes

down more than about $50, you’re gonna see that position get liquidated! … this

is a huge advantage for “whales” and large LP’s [one and the same most often],

and a great disadvantage for specs … how many days / weeks before specs

notice what is being done to them by the “open order book” [OOB] platform

crypto industry? 

So not only are the 2 top dogs of BTC & ETH seeing ranges coming down faster

than Biden’s poll numbers, they are now trading vastly different than they did

prior to the new year cuz of these new “forced liquidations” becoming extremely

tight among the major crypto houses … for example, prior to the new year,

PHEMEX had forced liquidations in BTC perpetual futures over $1,000 away

from your position … now it’s $210 … take a look at any m1 chart, and ask

yourself how easy it is for BTC to go $210 against you? … trade this shit, and I

hope you like forced liquidations cuz you’re gonna get plenty of ‘em! … in

addition, what can easily happen is that one set of liquidations run into another

cluster and the market cascades like an avalanche until it’s done … and what

really kills specs is when they force you out of a long [for example], and then

literally 1 second later it’s $400 higher as the “whales” bid the shit out of it to

not only screw you, but to force the shorts out now … spike down, spike up

… they win you lose … from their perspective, that’s the way things should be!

Turning to traditional markets, and while I have no incidences of “scumbaggery &

fuckery” at Turnkey with their LP’s in crude oil, for all other markets I can’t

recommend trading here simply cuz they have dishonest & thieving LP’s, who

will use any and all circumstances to rip your order as wide as they can away

from whatever market you’re trading, and then tell you everything is fine

… occasionally you might get an OK fill, but they will take it back later plus

interest! … yesterday, while I got ripped blind in the DOW30, the Mrs. traded the

algo signal at Simple FX and made money … most days, and yesterday was no

exception, the DOW30 at Turnkey versus Simple FX is only 1 - 2 points different

in bid / offer at 2 index points … OK, taking that into consideration, consider the

following … how does she make money with ZERO SLIPPAGE, AND I GET OVER

50 INDEX POINTS WORTH, when we are fractions of a second apart in pushing

the buy / sell buttons? … I’ll give you the answer … it’s called “scumbaggery &

fuckery” with fills, and she gets latency under 100ms and I get 1 ½ - 2 SECONDS!

… just enough time to make sure I get the highest possible “offer” buy and

then the lowest possible “bid” sell … ain’t falling for this bullshit again!

And while Turnkey either doesn’t know or won’t say, nobody really knows how

their LP in crude oil determines the quote … my best guess is it’s an average of

the front 2 futures contracts … Simple FX is simply front month oil, and that

3 cent spread is “rock solid” with no commissions … so while Turnkey plays

games with oil and messes with the spread quite often, “jacking” it at their

“whim” whenever the “greed” emotion comes over ‘em, Simple FX is always at

3 cents from what I’ve seen … and no, they don’t host a PAMM.

We’re now into the New York afternoon approaching 1 PM EST … take away the

bullshit first minute of thieving, stealing, and watching spreads blow out cuz of

the CPI number, we now got 5+ hours in ETH with a “whopping” $54 range from

the tips, and a lot less than that for most of that time … WTF am I supposed to

do with this, having to deal with a $2+ spread that WILL blow out some and the

range is a measly, scant, disastrous 50 bucks? … and I’m pretty sure, this will be

another day of extreme subpar daily range in ETH, and that come the end of the

week we’re looking at another drop in that value. 

And at the end of the day, all we got is a handful [or less] of M1 spikes from hell

[up / down], thank you very much “whales” and the now FUBAR “forced

liquidations” of spec positions they are now targeting and “running” with

impunity, and most likely laughing themselves silly at the dumb fucks who got

no idea what is happening … so what's gonna move this shit any more besides

“whales” screwing specs out of the blue at a whim? … dunno, cuz it ain’t the

same market it was pre new year, I guarantee you that!

No trades today for the Turnkey PAMM … I was ready at the helm in ETH, but we

simply had an extremely pathetic range post CPI today with no direction but

“chop chop” … we’ll see what happens tomorrow … hopefully it’s better … this is

bullshit, but there isn’t anything I nor you can do about it except wait for better

conditions … it remains to be seen if Lite Coin [LTCUSD] is going to be affected

by this, but I haven’t seen any evidence of it, so LTC becomes a viable PAMM

trading vehicle as well, cuz under most conditions it’s as competitive or better

than the OOB platforms … so, if ETH goes full retard basket of kittens on meth,

and simply becomes untradeable, LTC will fit in quiet nicely … so, we’ll see.

Over in alt-coin crypto land, I didn’t have any trades today for “The Syndicate”,

simply cuz 1) I want no part of this new “paradigm” horseshit in ETH or BTC on

an “open order book” platform, where “forced liquidations” are now “THE”

primary force of market movements, and 2) I am carefully watching and

analyzing ADAUSD [Cardano] for a day or two to get the “lay of the trading land”

so to speak, before I start trading it for real … it’s picking up volume and its 20

Day Ragne is going to expand come the end of the week … this is one of the

alt-coins that will benefit from the bullshit that is happening in BTC & ETH,

especially as traders figure out they’re getting hosed and start to look for

greener trading pastures in other alt-coins that aren’t affected much by “forced

liquidations'' like the 2 big dogs. “The Syndicate” will be up and running again

very soon.

 … outta here … “The future’s so bright I need sunglasses”!! 😎

… Onward & Upward!

-vegas