You're market buying/selling ?
EDIT : SJWcoin on cryptopia went from 1 sat to 448 sat on cryptopia today. Madness
Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)
- Thread starter irishfury
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EDIT : SJWcoin on cryptopia went from 1 sat to 448 sat on cryptopia today. Madness
Jay Kast
Hidden Royalty
You're market buying/selling ?
EDIT : SJWcoin on cryptopia went from 1 sat to 448 sat on cryptopia today. Madness
No- I learned my lesson on that, I tried it once by market selling when I had a decent profit and it automatically fulfilled ALL open orders to complete the sell.
So say I had 12k in WTC at .30 and it went to .32, if I choose to sell at market price it will take all of the people who have buy limit orders from the highest order on down until the entire sell is complete. So, hypothetically, if one person had a buy limit order at .31900 for 7k, and the next highest order is another person at .28 for 6k - then the exchange will sell my shares for the 7k/.31900 first, then complete the rest by selling the rest at the next closest persons buy limit of .28 - effectively ruining my profit margin.
If I am wrong, someone please correct me - it' hard to make huge sells or buys and expect the value of the coin to remain the same.
What happened to the telegram chat?
You're not wrong at all, that's how it is. However there are variables to take into account like stop sells that could be hidden that may be between 0.319 and 0.28 but that's a detail.
If you're not a small player, you can still market sell at profit but unless you got in early because then, a -5% difference in your profits would mean nothing. If you're looking at exiting your position at a 6% profit (in crypto above all) with such amount, to be frank, you got in either too late or you bought too much. 6% is really a tight target with such amounts above all in fickle and emotional markets like crypto. However, if you're simply playing it safe, then you should limit sell with scattered orders. That is, with a 12K buy at .30, a third of your coins around 0.31, another one around 0.32 and the last one around 0.33. I (limit) buy and sell in thirds myself but you could do this in quarters or tenths, that's up to you. That would require you to change your strategy however, deciding in advance how much profit you're targeting and not be greedy once the price is near. The minimal reward/risk ratio is usually 2 to 1 (for example 10% target with a stop at -5% to cut the eventual loss). Under 2/1, you're risking too much for not enough.
About scattered buys/sells for example, Finex has tools that allows you to scatter them around a certain price target and even with some noise so your sells feel more organic. But you also need to bear in mind that with limit buys, there is still an issue in this case, and that is that you need a good market volume (and buying pressure) because if it's too low, then your own sells could impede the market preventing you from exiting at a profit. Meaning that with bigger amounts, you'll probably have to scatter the price with more sells than if you had smaller amount to sell. All in all, you have two choices to exit :
- either the buyers eat your sells on the way up because you have scattered them with a good balance between amount (so you don't kill the price momentum) and target price (so your probability of exiting is high). This is the less painful way for the market and for you as your exit is organic and do not disturb it (too much)
- or you dump on them like a lunatic (whether with a market sell or with a trailing stop) because you reached your target and you know that if your sell order is fully filled you'll still be higher than the target you wanted though you would have killed the momentum. It's OK to be selfish in trading
Subbed.
Looking to drop $50-100CAD in BTC and pick up some EOS, ETH, LTC, REF, GAS, etc
Looking to drop $50-100CAD in BTC and pick up some EOS, ETH, LTC, REF, GAS, etc
No..Money..Mo..Problems
it is what it is
@irishfury so how many Bitcoins did you stash away breh? I got into Bitcoins in 2015 when the price was like $650 mainly through cashing out gambling winnings but I would always withdraw them right away. Wish I would of seen these kinds of threads back in 2012-13 and hoarded a couple of em.
ill
Superstar
Yeah. I was wrong.
About What???
ill
Superstar