How much under or over do you usually price your bids?

kafeelniazi

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Quote from: yndye on December 13, 2017, 11:47:13 PM

Quote from: ?? on ??

under a lot of circumstances you're most likely just better off doing a market order, at least if we're talking 'small allocations' since the slippage won't be too bad and most exchanges don't really incentivize limit orders enough (they should receive rebates or at least pay no fees since they provide liquidity to the book in my opinion).

playing against the bots is in most circumstances just a waste of time, market makers usually reposition themselves only milliseconds after you initiate your order, so even if it looks like you're the top-bidder at a point in time, you're probably not, and the website just hasn't been able to refresh at a high enough rate for you to know that you're behind.

The advantage of being the maker of the price is that you would pay lesser compared to being a taker in some exchanges. In Bittrex, I believe the trading fee for maker and taker is just the same while in other exchanges, 0.15% fee for maker while 0.25% fee for the taker that's why some would put the bid or ask price higher or lower respectively to avoid paying the higher trading fee.

As for my trading style, I would just see the potential support of the coin and put the buy order there. I don't care if it is few pages away in the order book because if my speculation would turn out to be right then I would have bigger profit.

0.15% and 0.25% is too high as compared to bitfinix. Bitfinix charge you 0.1% and 0.2%. And yeah you will have to contribute towards volatility of the exchange in order to pay less for each trade.

Herbert2020

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you shouldn't just place buy orders at some arbitrary number just because you see some other bid there or some feeling in your gut tells you to.
instead you should choose your prices with extra care. that is all there is to trading otherwise there is no difference between a real experienced trader and a gambler who rolls a dice. the thought that you put into your actions make that difference and eventually makes you richer. otherwise if you choose to be that gambler, you will become poorer and poorer with every trade.

and the choice is a speculation, mainly based on the movement and some analysis. for example if an altcoin is on the rise (getting pumped) if you place orders below the market price, they will never be filled. you should buy at market price and enjoy the ride.
or for example if an altcoin is getting dumped hard. if you buy it at market price or even place orders at any price it will be filled but you also lose money. you have to wait for the bottom then buy.

kaya11

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Quote from: davemanet on December 13, 2017, 10:12:50 PM

I notice that I've been pricing my bids .0000001 above or below a bid to do a trade. I notice that I end up losing out on a lot of trades. In the long run, I think it's better to just place a bid with a larger gap from the next bid rate.

Do you have a general rule you go by when it comes to making a quick trade?

If you want immediately sell or buy it, do not just put .00000001. Make it a little higher than theirs with decent profit you can get. It will take you years or months if you just simply put that kind of offer because another trader will take over your place and so on.

yndye

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Quote from: ?? on ??

under a lot of circumstances you're most likely just better off doing a market order, at least if we're talking 'small allocations' since the slippage won't be too bad and most exchanges don't really incentivize limit orders enough (they should receive rebates or at least pay no fees since they provide liquidity to the book in my opinion).

playing against the bots is in most circumstances just a waste of time, market makers usually reposition themselves only milliseconds after you initiate your order, so even if it looks like you're the top-bidder at a point in time, you're probably not, and the website just hasn't been able to refresh at a high enough rate for you to know that you're behind.

The advantage of being the maker of the price is that you would pay lesser compared to being a taker in some exchanges. In Bittrex, I believe the trading fee for maker and taker is just the same while in other exchanges, 0.15% fee for maker while 0.25% fee for the taker that's why some would put the bid or ask price higher or lower respectively to avoid paying the higher trading fee.

As for my trading style, I would just see the potential support of the coin and put the buy order there. I don't care if it is few pages away in the order book because if my speculation would turn out to be right then I would have bigger profit.

Golftech

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Quote from: davemanet on December 13, 2017, 10:12:50 PM

I notice that I've been pricing my bids .0000001 above or below a bid to do a trade. I notice that I end up losing out on a lot of trades. In the long run, I think it's better to just place a bid with a larger gap from the next bid rate.

Do you have a general rule you go by when it comes to making a quick trade?

Do not play against the bot mate, if i understand you correctly you are trying to win a bid but you are always ending up losing as bot always present
from the exchange and logically if you will play against them you will just lose your money and time, just in case its better to place your bid accoding
to your assessment and always have a lots of time and patience that's what we need when we are dealing with this business.

rodalutor

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I do not fully understand your question, I'm guessing you are talking about putting 1 satoshi above or below the market orders to complete it. If the market is very volatile I often just pay the ask if I want a coin as most markets don't have a spread of more than 0.5% and generally I want a coin to hold or trade longer term and that little amount doesn't matter too much to me.

davemanet

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I notice that I've been pricing my bids .0000001 above or below a bid to do a trade. I notice that I end up losing out on a lot of trades. In the long run, I think it's better to just place a bid with a larger gap from the next bid rate.

Do you have a general rule you go by when it comes to making a quick trade?

Topic: How much under or over do you usually price your bids? (Read 92 times)