OIL THROWS UP

“Thy name is oil!”

And the race to the bottom is on! … and the ugliness goes full retard. Let’s

see how the bid/offer spreads hold up at Coinexx today … I’m not hopeful.

And for the record, if you’re not a U.S. citizen or resident, oil trading doesn’t

get any better than at PLUS500 [ https://www.plus500.com/Instruments/CL ].

Directly below, the dashboard screenshot from earlier this morning.

click on box to enlarge

And, I might add, I believe this is without commissions … so, there isn’t

anything better at the moment in the world for oil than PLUS500 that I have

discovered. While they are at a 2 cent spread, Coinexx is at 4, Turnkey is at 6,

and LQDFX is at 15 cents [wait … wut? … seriously, what are these guys

smokin’?]. Problem is, PLUS500 doesn’t accept US clients, and they don’t

accept corporate accounts, only individuals … meh!

Again today we see very large ranges from Asia & Europe, where bid/offer

spreads last night were as high as 10 cents … good luck trading that … and

then we get to New York, and its “crickets” … WTF … another day as well

with disappointing spreads from Coinexx … haven’t seen 3 cents in over

3 days in the spread … as I told management this morning, “if PLUS500 can

do spreads in oil at 2 cents with no commissions, why the hell can’t you?

… so, what’s preventing you from signing on with their LP for oil? … what”?

One algorithm trade today, from the long side, and again it simply won’t

move a bit as the SP500 rallies, so I liquidated … bought at 33 sold at 35

… at least it wasn’t a loser, but not a very good risk / reward trade at all

… things today skewed mightily before trading even began in Chicago or

New York. Directly below the M5 for the trade [white arrow = buy, orange

arrow = sell liquidated].

click on chart to enlarge

What a volatile week in oil … would really help if we had access to

consistently decent spreads that aren’t jumping all over the place and

creating havoc … at this juncture, cuz most of us are US citizens, all we got

is Coinexx … I’ll keep looking and searching for other options, though, cuz

you never know. One more thing to add salt to the wound … PLUS500 also

has crude oil options … yea, I know … isn’t it great to live in a country

where you’re treated by the rest of the world as lepers … I can’t even

… I’m outta here early today … blog update on Sunday … until then mi

amigos … Onward & Upward!!

Have a great weekend everybody!

-vegas

UPDATE: 1 PM EST: Below, I’ve made a screenshot of PLUS500 oil, right
alongside Coinexx, so you can see firsthand the spread differential. If I could,
we’d be there!

click on to enlarge

UPDATE 2: 3 PM EST: It’s 3 PM EST on a Friday … do you know where your

oil market is? … well for most, you can’t trade it into the close cuz the spreads

have been blown out … not at PLUS500 … notice the difference now!

Good grief what a difference! … a real oil market!!

OIL DISCOVERS THE TWILIGHT ZONE

“Welcome to oil trading, Captain Kirk!”

Oil trading … ah yes, welcome to the “Twilight Zone” … if only Rod Serling

had been around to see what this market can do to humans, he’d have had a

field day in developing episodes for the series. Just looking at the last few days

on the daily candlestick chart, and there’s no making any sense of anything

… throw in some reversals and the “Flying Wedge of Death” [FWD], and no

position in this market is safe at anytime you’re in it.

Cuz of the Monday Holiday, oil inventories is today at 11 AM EST … market

literally treading water ‘till then, and oil hasn’t seen ± 30 cents in hours … so,

wait we shall. “Well, that escalated quickly to the downside, didn’t it”?

Another big inventories miss sends crude going “Thelma & Louise” … and of

course not helping, are the scumbag LP’s blowing the spread out to ridiculous

levels … even if you wanted to sell it, you couldn’t, and once the report came

out, bid/offer spreads ballooned outwards toward 7 - 8 cents on the CFD

… who the hell is going to trade that? Granted, about 20 minutes later the

spread came back to 4 - 5, but even that is no bargain … 3 - 4 is where it needs

to be, and so what we get is another example of LP greed for no reason … but

hey, we all have known for years they are the biggest thieves going, so what’s

new?

Now after 1 PM EST, and the day basically finished [maybe], where do you

expect WTI to go with an already $2+ range on the day? You really can’t

trade it in Asia or early Europe cuz the spread is too high, and you can’t trade

it when there’s news either … and if the scumbag LP’s won’t make a market,

you’re left with little choice but to walk away … and today, I walked away.

Nothing really left to say … except of course, let’s see if they can drag it lower

and extend the range from $2 … sure they can, and away we go! … daily

range now just shy of $3 here at about 2 PM EST … good grief. Can we just

get a decent spread for cryin’ out loud? C’mon Coinexx, don’t turn into

Turnkey!

Back at it tomorrow … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

OIL CERTAINLY HAS REDISCOVERED VOLATILITY

“Just like oil!”

One oil algorithm trade today, off a secondary signal that didn’t yield much

… then oil collapsed to a new low below 57.00, and then rocketed up near

the high [58.80] so far … all in all a couple of bucks, but nothing major to

warrant any whoopie!

Really, the action when I came to the screen already has oil with n almost $2

range … and that usually means the U.S. session will be bullshit … which it

has been, with the entire U.S. day being nothing more than a gigantic

“Flying Wedge of Death” [FWD] … I passed on the last signal trade, simply

cuz it’s after 1:30 PM EST, and didn’t figure it had anyplace to go … wrong

… this shit can go anywhere, anytime, it wants. As I write, it’s threatening

the high for the day, which would be a major reversal day if breached.

click on chart to enlarge

The white arrow got me in at 57.99, and the orange arrow got me out at

58.04 … spread was 4 cents … bid/offer spread today not very good,

hovering between 4 & 5 most of the day … got 4 on both trades, but 3 would

have been better … who knows what drives these scumbag LP’s to price oil?

Anyway, back at it tomorrow … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

OIL GRINDS

“Let me guess … an oil market that doesn’t move!?”

Well, isn’t today’s oil market special? … along with everything else, a bucket

of slop … worst range day since May 3, right along with the “Flying Wedge

of Death” [FWD], trying to hit new highs and lows about 9 times apiece.

Bid/offer spreads today from Coinexx, also not very good … considering the

dull action, spreads should have been at 3 cents most of the day … instead,

we saw 4 - 5 cents … scumbaggery no matter where you go from the LP’s.

I decided last night after I published the oil algorithm, I’m not going to

simply take every oil signal from the algorithm and make a demo trade.

Instead, I’ll choose the trades from about 7 AM EST - 2 PM EST [7 hours],

according to signals, to give all of my readers my thinking behind a trade

… and coming into today, it looked and felt like dead meat … and really,

nothing on the upside or downside could gain any traction in terms of price

… the only move that could have made any money was the up move from

59.00 to near the high around 59.50 … other than that, a complete chopfest.

Onto tomorrow … until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

NEW & UPDATED CRUDE OIL ALGORITHM

“Trying real hard NOT to do this when trading crude oil!”

Over in the right hand column today, is the section “Download Links”, and

there you will find our new & updated crude oil algorithm in PDF [10 pages].

Read it online or download it, whatever you choose … it’s FREE to

everybody natch, but as I point out in the manual, if you like it and make

money trading it, consider donating via crypto in the days and weeks ahead

for what it’s worth to you. I’ll have our public key blockchain up, along with

crypto pairs we support, in the very near future.

The algo is flexible enough to handle a whole host of different types of traders,

from very aggressive to conservative, and you can bend and shape it to fit any

type of trading in the short term [meaning day] … although crude oil [Brent

and/or WTI] is not an “80/10/10” market, the algo can easily adapt to

“buy only” or “sell only” strategies, if you’re so inclined to trade it that way.

From our extensive research on offshore brokerage houses that accept U.S.

clients, I couldn’t find any that match Coinexx in 1) lowest usual bid/offer

spread at 3 cents, and 2) lowest round turn [RT] commissions at $1 per 1 lot.

When you consider a 1 lot in either crude oil CFD’s is 1,000 barrels [$10 per

penny move], no matter the size of you trade [lowest is 0.01 lots = 10 barrels],

the RT commission is ⅕ of a cent, which means it’s meaningless in the scheme

of things.

Even if the entire world of offshore brokerage accepted U.S. clients, there

isn’t anybody I’ve seen, and we’ve looked at hundreds if not thousands of

brokerage houses, that has a lower “net cost” to trade than Coinexx. And

unlike some other houses that have piss poor latency issues with speed of

execution [cough, Turnkey, cough] on market orders, Coinexx has been fast

on the turnaround … meaning of course, the order isn’t getting “bagged” by

the LP to screw us on the fill for their benefit.

Look at it this way … if you’re a small trader and have approximately $500 in

your account, and you trade 0.10 lots of WTI [100 barrels], on average two [2]

times a day, over the course of the year that would = approximately 500 trades.

If you suffer 1 cent slippage or a higher bid/offer spread to trade, you’re

handing the LP & brokerage house $500 of FREE MONEY per year on your

$500 account … who wants to do this? … I sure as hell don’t, so yes, spreads

MATTER, and your “net cost” to trade MATTERS!

Algorithm rules are straightforward & simple, and there is some flexibility on

liquidations, where your holding profits from positions, so it’s NOT a 100% in

the market at all times mechanical algorithm. And while simple via the visuals

given the MT5 platform, the math behind it is complex … but no worries,

even for complete Newbies, cuz once you demo it and see how easy it is to

follow, you won’t care about the math one bit.

I would advise you, though, to use lower leverage with crude oil … this can

be a wicked market, and the power of the algo isn’t via “home runs”, but

consistent profitable trades with some low losses factored in … get to

leveraged, and anything can happen with one trade to hurt you.

Finally, once you’re satisfied with a day’s profits [more than 30 cents per

barrel in my book, but if you want a little higher that’s up to you], stop

trading for the day and leave it alone into the close. I’m not suggesting

cutting profits short in positions, I’m saying to stop trading after your final

trade, via the signals, has netted you your goal.

Onto the week, let’s see what happens … until tomorrow mi amigos

… Onward & Upward!!

Have a great rest of your Holiday weekend everybody!

-vegas