SUNDAY UPDATE꞉ A CASINO GIVES YOU FREE DRINKS

“Of course, he was referring to crude oil trading!”

For a market that isn’t really going anywhere from day-to-day, week-to-week, WTI

Crude Oil has a very high 20 Day Range MA … directly below, the current week.

click on chart to enlarge 

Averaging a $2 range every day isn’t easy when you’re not going anywhere on

the dailies, but then factor in all the political bullshit taking place and you end

up wondering why it isn’t higher!

Lately, and it isn’t by any means restricted to oil, the market has been extremely

volatile to breaking news events … love ‘em, hate ‘em, it doesn’t really matter cuz

they end up moving oil violently … the trading action we’ve been seeing makes

the oil trading algorithm almost obsolete in its effectiveness to capture profits

without risking the farm … in the days ahead after the September Labor Day

Holiday, we’ll be releasing a new oil trading algorithm … we’re beta testing it now

in real time, and it’s a better trading algorithm for oil.

As many of you know, the biggest problem in trading oil [WTI and/or Brent] is

finding the right offshore brokerage house to trade a CFD that doesn’t rip you off

… and the cold hard facts are 99.9% of all of the oil CFD’s are JUNK … sky high

spreads with some larded up with commissions as well … the two offshore

brokerage houses we are most familiar with, COINEXX & TURNKEY, used to have

decent oil trading CFD’s … today they are a cruel joke and a complete rip off. If

you live outside the U.S. and/or are a non U.S. citizen, the two best places to trade

oil are PLUS500 [Israel] and CMCMarkets [UK] that we have checked out … that’s

not to say there aren’t others, but we know these two have 3 cent spreads or

LOWER with no commissions … if you’re paying more than 3 cents bid/offer

spread, you’re getting ripped off, and even if the brokerage house quotes 3 cent

oil spreads, make sure you know if there are round turn ECN commissions as well

or not … many houses will quote a good spread, and then completely rip you off

with a commission that makes your net cost to trade oil 7+ cents a barrel or even

MORE.

For U.S. citizens it boils down to, do you want to trade in the U.S. via the futures

market with the standard 1,000 barrels per 1 lot and/or the emini 500 barrels per

1 lot contracts, and put up with higher margins and the generation of a 1099 to the

IRS for your account, OR do you want to trade these futures offshore, e.g. at

Investors Europe, or someplace else and have no reporting requirements?

… right now, there is NO offshore brokerage house, that I know of, that accepts

U.S. clients and has anywhere near decent trade conditions in oil CFD’s … they are

all complete rip offs … sadly, U.S. citizens join North Korea, Yemen, & Syria on the

list of forbidden countries most offshore brokers refuse to deal with … thank you

Nanny state government and all the bullshit you bring to the table.

When we release the new oil algorithm, we’ll be uploading M1 charts to the blog

that utilize 3 cent bid/offer 🙶net cost🙷 pricing … this way, whether you trade

futures or CFD’s, you’ll be right on the market for whatever platform and

brokerage house you’re using, and everyone will only be fractions of a penny off

the market no matter how you trade oil … this to us seems the best solution to

handle everybody.

Onto next week, and we’ll see what political bombs drop to  make oil go up/down

like a roller coaster … that’s pretty much all there is to markets anymore … and

oh yes, the oil inventories roulette games on Tuesday late afternoon &

Wednesday morning … other than that, sit back and wait for the ChiComs and/or

Trump tweets … until tomorrow mi amigos … Onward & Upward!!

Have a great rest of your weekend everybody!

-vegas

HONESTY … WHERE CAN I GET SOME?

“At least this guy is honest … doesn’t say much for scumbag LP’s!”

And right on cue, like he came straight out of central casting, here’s Coinexx’s

response to my email questioning the veracity of their crude oil LP’s

… remember, on Friday I sent them 2 pics of their spreads versus PLUS500.

Directly below, their response.

Dear Barry,

This is in respect to the inquiry you have made on support for spreads on oil.

Our average spread on WTI crude oil is 2-3 pips. please be advised that we are pure ECN

broker and provide direct liquidity from the LPs. Spread may get wide depending on the

movement, volatility and liquidity in the market hence you might see higher spreads at

the time of high volatility like news time or when there is low liquidity in the market like

during market closing or opening time.

Feel free to get in touch should you require any further information; we would love to help

you out with it!

Cheers & have a great day!

Coinexx Support!

Email: sgarg@coinexx.com | Website: https://coinexx.com/  | Questions? Just ask at Live

Chat

Of course, he addressed nothing of what I asked, so I wrote back.

You fail to address the points I raised in my email. The fact is, while your LP's widened

spreads to unreasonable levels, PLUS500 maintained a WTI crude oil spread of 2 cents.

Please further explain to me how they can do that but you can't, seeing how they have

the same oil conditions as Coinexx. Simply look at the two pics I sent you that show they

beat your spread by a mile. So, my question is, why can't you get their LP's for oil, instead

of the thieving LP's we're stuck with at Coinexx? And furthermore, your oil spread is not

consistently 2-3 cents; that's hogwash. All it takes is a small bump in volatility, and your

LP's see the opportunity to widen the spread to 4 - 5 cents, for reasons of pure greed. In

other words, if PLUS500 can maintain 2 cent spreads in volatile conditions, why can't

you? Stop giving people the idiotic response of "DUH, market conditions, DUH"!

Regards,

Barry

Apparently not liking my response, support wrote back from this.

Dear Barry,

Please be advised that every broker has a different set of LPs hence the spreads or prices

may vary from broker to broker. as we are pure ECN broker, we provide the same variable

spreads directly to the clients from the LPs and spreads totally depends on market

movement, volatility and liquidity hence fluctuation is expected. We are connected with

major LPs from across the world which cannot be changed and provide the best bid and

ask prices across all instruments including forex, commodities, indices and crypto

currencies.

Which natch, elicited another reply from me.

NO, you do NOT provide the best bid/offer spread in WTI Crude Oil ... are you blind? ... do

you not see the side-by-side comparison of WTI spreads with Coinexx versus PLUS500? In

the first example, you are at 5, they are at 2 ... the second example, you're at 7, they are at

2. Try and convince me again you have the best spreads! And as for your MAJOR LP's

FROM ACROSS THE WORLD, who you somehow think are giving us the best deal ever,

I've proven to you and Coinexx that this is a LIE. So, whom does PLUS500 use for their

Oil spreads? And why don't you use them? Or, as I'm beginning to understand, you

simply take part of the spread along with commission, so that makes giving clients a

higher cost of doing business OK from your perspective. STOP lying to people, because

as I have proven, you don't come anywhere close to having the BEST BID/OFFER

SPREAD in WTI Crude Oil.

And with that, they slinked off to a safe space, no doubt.

One algorithm buy signal today in crude oil … not much in it, and again way

too much risk for the reward … up a few cents … the chart from the M5

directly below. One algorithm buy signal today in crude oil … not much in it,

and again way too much risk for the reward … up a few cents … the chart

from the M5 directly below.

click on chart to enlarge

Just like the SP500, not much you can do, when you come into the day to trade,

and we already got a 2$ + range going … what’s left for New York? … and

again the answer is not a “Hoover Dam” thing except chop. So, onto tomorrow

… until then mi amigos … Onward & Upward!!

Have a great day everybody!

-vegas

SUNDAY UPDATE: THE GREATEST MARKET

“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