“What’s the one market that can deliver this bag pronto!?”
Well, Friday’s blog post turns bare the “lies = truth, freedom = slavery, & we
have the tightest spreads in existence” bullshit permeating the online trading
sector … and nowhere does this show up in greater abundance than crude oil
… “in reality, nobody gives a rodent’s donkey if your EURUSD and/or
USDJPY bid/offer spreads are 0.00001 [1/10th of a PIP] different from one
place to another … unless your trading in the millions, and 99.999% of you
aren’t, it simply doesn’t matter … not true in crude oil … even a 1 cent
differential in the spread from others, and in a small account of $500 trading
twice a day for a year is the SIZE OF YOUR ACCOUNT you’re handing the
scumbag LP, it really does matter.
So, when you start seeing 2, 4, and then 13 cent differences in bid/offers from
house to house, it begs the question, “WTF is going on here”? … and right
now, I’m trying to hold Coinexx’s feet to the fire, and wanting to know why
their spread in WTI crude oil isn’t near to the same as PLUS500, which is
2 cents 99% of the day, regardless of the time … Asian, European, U.S., and
even late U.S., they’re right at 2 cents … and with no commissions AND
OPTIONS TO BOOT [puts & calls] … so, what the hell?
Forget places like Turnkey, LMFX, & LQDFX … they’re so far out of the
ballpark, they are even worth considering … of course, they’ll lie to your face
and tell you straight up they have the tightest spreads in the industry, but
when called on the carpet with proof, they strangely fall silent … “STFU and
trade Sheeple”!
So far, I haven’t heard back from Coinexx, which every CS rep says they
respond within 24 hours to emails, and it’s been well over 72 hours and I got
NADA … “well, let’s play stump the dealer shall we”? … I’ll keep you posted.
Normally, this wouldn’t be an issue, cuz when I was first notified by
Cousin IT of their oil spreads at 3 cents, AND they accept U.S. clients, I
watched them for over a week … and sure enough, 3 cent spreads … Ok, I
drop some crypto into them, and since then I haven’t seen 3 cents to save my
life … WTF is this!
And, I’m fully expecting to hear some irrelevant bullshit from them very
soon … like, 1) we don’t set the spreads, or 2) “duh, market conditions, duh”
… the same horseshit you hear from Turnkey on every occasion about fills,
price, and/or spreads … yea well, that’s not gonna fly … doesn’t PLUS500
have the same oil market we do, or are they trading Martian oil? Do they
not have the same conditions as us? … Ok then, go out and 1) drop the
assholes who are ripping us off now, and sign up with same oil LP’s that
PLUS500 has … I dunno, doesn’t seem that complicated. So, we’ll see this
week what they say.
In any event, I’m presently trying to cut some deals with other offshore
houses to trade oil … just speaking for myself, I’d be at PLUS500 in a
nanosecond to trade oil there if I could … problem is, they don’t accept U.S.
clients and/or corporate accounts [meaning no IBC’s from tax havens], AND
they take no crypto for deposit/withdrawal [meaning, both have to come into
or out of a bank account].
For now, Coinexx is it … but rest assured, either Coinexx gets their shit
together OR I’ll find the very best place we can trade oil … it might take
some additional weeks, cuz we got an awful lot of ground to cover and people
to talk to, but it’s worth the investment in time and man hours … why?
… EASY PEEZEE: “oil is the last free market on earth from government
manipulation … and outside of emergencies in the oil biz, like a free fall
collapse, seen in February 2016, or a scenario where somebody like Saudi
Arabia has a coup and the kingdom is overthrown and prices spike to well
over hundreds of dollars a barrel, governments per se leave it the hell alone,
cuz they would have to take or make delivery … oil is a DELIVERABLE
commodity, unlike everything else where governments can and do use the
CNTRL-P button to manipulate outcomes … this last week a perfect
example … oil goes full retard nuts, and the SP500 doesn’t … and you can
chalk that up to manipulation.
Therefore, it should follow, that oil trades very much inside the “fear/greed”
cycle, we used to see regularly in all markets before the FED got their sticky
fingers into everything … make no mistake, markets have ALWAYS been
subject to manipulation by those with superior bank accounts and “inside
information” … sometimes they worked and mostly they didn’t … but what
you never saw was the government stepping in for social policy and overtly
manipulating markets like they do today … hell, they don’t even hide it
anymore!
Granted, I completely understand the necessity of a 1 lot futures
contract = 1,000 barrels of crude … between Brent & WTI, these 2 futures
account for futures volume most days of between 2 and 3 million contracts
… it’s the largest used commodity in the world … but I also understand that
more than 90%+ of all traders can’t afford the 1 lot futures contract, without
going belly up in 10 minutes if they are wrong … the demand for tight
bid/offer spread CFD’s should be a “no brainer” for the trading public
… especially so, for those wanting and demanding a non manipulated
market. When SHTF, like it has these last couple of weeks, just look at the
ranges WTI & Brent put in … unreal! … problem is, though, right now the
vast majority of the day sees bid/offer spreads blown out, and unless we want
a horrendous spread to get into a position, we have to wait for late
Europe - U.S. session, and then no later than about 1:30 - 2:00 PM EST, when
the spread blows out again into the day’s close … this is bullshit.
Directly below, this week’s 20 Day Range MA for WTI Crude Oil.
click on chart to enlarge
A dramatic increase from a few short 4 - 5 weeks ago, when the world bought
into the China trade deal scam, and traders over positioned themselves long
the market, on the belief oil demand would be rising, along with curtailed
supplies cuz of Iran & Venezuela sanctions … “yea, didn’t quite work out that
way”!
Well, onto the oil week … we’ll see what happens with Coinexx bid/offer
spreads, and whether or not 4 cent MAX can be maintained … hope shit
settles down and we can return to 3 cents … that rate rivals the emini at the
CME and actually turns into our favor … 4 cents and the equation changes
slightly to the emini’s favor … 5 cents and greater, and your nuts if you trade
it … we’ll see what happens … until tomorrow mi amigos
… Onward & Upward!!
Have a great rest of your weekend everybody!
-vegas
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