is it good to rely on order books or depth charts - page 2.

Wapfika

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Bitcoin makes the world go 🔃

Quote from: cafter on March 31, 2023, 11:00:59 AM

Many people decide by seeing depth charts that what the price will be in future, but the orders are constantly changing many people cancel and change orders many times,
then why this wall observer thread is opened, does it important to see the order wall or depth chart?
mostly price movements occur on market price which is due to intuitional buying or selling,

Depth charts and order book display fake data from market maker of the exchange. You will notice that price both sides retroactively changing every seconds. Those wall and resistance that you can see on the order book depth will more likely vanished when there’s an actual trend in the market.

An indicator using long term time frame is still the best tool to use on trading for a better understanding on the trend and to avoid fake out due to crypto volatility and manipulation. Long term trend line for example is always accurate.

Zilon

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Bitcoindata.science

Quote from: cafter on March 31, 2023, 11:00:59 AM

Many people decide by seeing depth charts that what the price will be in future, but the orders are constantly changing many people cancel and change orders many times,
then why this wall observer thread is opened, does it important to see the order wall or depth chart?
mostly price movements occur on market price which is due to intuitional buying or selling,

You already have the answer to your question i presume. Long term positions draw deep inference from charts and this positions are meant to last for months or even a years this are majorly position traders. For Order books it is common between scalpers and day traders, The use it to catch up with the slightest change in price and make either profit or loss from it.

While making in-depth chart analysis require good capital to take a position either for a buy or sell, the order book can accommodate small capital and this is why cancelations of trade and changing of orders happens most often in order book due to fear of losing a trading account. As for wall Observer thread just know no one is an island of knowledge so as speculators there should be a channel to share ideas.

cafter

full member

Activity: 448

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I mostly use order book when i was scalping , to confirm that i m right or not. it gives some overview but not always right.
what about long term, that people see depth charts?

Ojima-ojo

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Quote from: cafter on March 31, 2023, 11:00:59 AM

Many people decide by seeing depth charts what the price will be in future, but the orders are constantly changing many people cancel and change orders many times,
then why this wall observer thread is opened, does it important to see the border wall or depth chart?
mostly price movements occur on market price which is due to intuitional buying or selling,

Most time I am faced with this point where I need to decide either to follow the order book or follow the current trend, chart indept reading could only be a risk for those who are looking to execute the trade with urgency, for those who have in-depth information about the market could wait a few hours to see their order get executed if the price reached their order price.

I am not a passive trader and I trade my Bitcoin a few times, but each time I make an order either to buy or sell and the order book go against my own set price, I always excessively patient to wait until the order chart reaches my on order price, this is something that has helped me a lot of times from losing on the long run.

cafter

full member

Activity: 448

Merit: 223

Many people decide by seeing depth charts that what the price will be in future, but the orders are constantly changing many people cancel and change orders many times,
then why this wall observer thread is opened, does it important to see the order wall or depth chart?
mostly price movements occur on market price which is due to intuitional buying or selling,

Topic: is it good to rely on order books or depth charts - page 2. (Read 280 times)