BTC HANGS TOUGH

“BTC Ready to pounce!”

Oil puts in its usual head scratching range day, and quite frankly given the cost to

trade it, unless you’re trading futures in it, I don’t see the point … too many other

great markets to trade profitably while oil either fiddle farts around, OR chops the

living shit out of your account with “false positive” moves … at a penny per barrel

with commissions, a great market if you can handle the action [most can’t] … at 3

cents per barrel, it’s a very dicey proposition.

BTC not only hangs onto the $9K level, it isn’t moving an inch backwards over the

week, and hovers right around $9800 as I write … more than likely, some big sell

orders just under 10K … the problem, though, is its cost to trade … you’re looking

at a total cost of about $11 - $13, depending on your size volume … BTC is roughly

in the same 20 Day Range MA as the DOW30, just looking at raw numbers

… would you pay 11 - 13 index points to trade the DOW30? … hell no you wouldn’t

… but you’ll pay that for BTC? … why, if your goal is to make money? 

As I’ve stated before, “Coinexx” lists BTC, and their bid/offer spread + commission

is about HALF of PRIMEXBT … but the problem there is that MAX MARGIN IS ONLY

5X, and if BTC gets volatile, the bid/offer spread can go anywhere … and when I

say anywhere, I mean anywhere … I’ve seen it at over $100 on occasions, and if

you happen to be on the wrong side of a trade when that happens, man are you

gonna be pissed … gradually, costs to trade BTC will come down, and most likely

PRIMEXBT will be one of the first to reflect lower commissions … like FX 20 years

ago to now, it just takes more market makers and players and costs go down due

to competition.

Blog update on Sunday … until then mi amigos … Onward & Upward!! 

Have a great weekend everybody!

-vegas