Everyone's finally calmed down.. Hopefully stability that we've seen over the last few days is maintained. Price needs to calm down a bit
Yeah right. This is BTC
Topic: What is going on? Trading volume is so low! - page 2. (Read 7040 times)
Yeah right. This is BTC
Everyone's finally calmed down.. Hopefully stability that we've seen over the last few days is maintained. Price needs to calm down a bit
Since the DDOS yesterday, MtGox turned off API support for anything calling the older https://mtgox.com/api pages and is now only allowing orders to be placed through their data.mtgox.com url calls.
I haven't looked on the forum much but didnt see this announced anywhere. Over the next few days I imagine others who run bots will pick up on this, fix their code and re-start their bots.
*edit* To clarify, I believe the API functions to query order response / account data were changed.
Plz forgive my ignorance. Are the bots hostile toward Mtgox?
No, when I talk about bots, I mean the scripts that are written to trade on mtgox through their API. These scripts usually trade high volume (much more volume than users using the website interface).
Why do they use these bots? Do they analyzing data, and buying and selling btc automatically?
I run a market making bot. It maintains orders on both sides of the book at 1.3% intervals. When my buy orders are filled, it places a sell 1.3% higher. When my sell orders are filled, it places a buy 1.3% lower. I lose out when it trends continuously, but it stabilizes price and I turn a profit when the bulls and bears duke it out. By keeping orders on the book, I help make it possible for companies like bitpay that need to accurately price and immediately convert bitcoins to USD and companies like bitinstant and coinbase that need to go the other way.
That is genuinely fascinating. Thanks for telling us how your operation works. Now here's a man who knows how percentages work. Do you mind if I ask a question plz? How efficient is the following trading method? Use the MACD to mark buy and sells, and when there is uncertainly or very weak trends, go half in. Basically hedge both ways. Is this an ok method? any suggestions would be appreciated plz?
1.3% intervals is obviously a figure you've arrived at after a great deal of trial?
I'm not sure I'd trust a single signal to trade on. If you're looking for something simple, a balancing strategy is decent. Basically, you keep 50% of your value in bitcoin and 50% in USD and rebalance once a week or so to maintain the ratio. Obviously, you can use any ratio you want. Keep a little more in bitcoin when things look bullish, keep a little more in fiat when you're bearish.
I wouldn't rely solely on one indicator. But MACD might be a primary, and refer to others to paint a more detailed picture. I've only been learning about indicators the last few days, so have a lot to learn.
I have no idea where to start with bots. Where to get one, or how to use it. I'm curious about such things, but probably dont have enough time or money to invest in btc to make it worth while. Or is it simpler than I might think?
Thanks again for your advice. I have some work to do on my trading method, and your a big help
Since the DDOS yesterday, MtGox turned off API support for anything calling the older https://mtgox.com/api pages and is now only allowing orders to be placed through their data.mtgox.com url calls.
I haven't looked on the forum much but didnt see this announced anywhere. Over the next few days I imagine others who run bots will pick up on this, fix their code and re-start their bots.
*edit* To clarify, I believe the API functions to query order response / account data were changed.
Plz forgive my ignorance. Are the bots hostile toward Mtgox?
No, when I talk about bots, I mean the scripts that are written to trade on mtgox through their API. These scripts usually trade high volume (much more volume than users using the website interface).
Why do they use these bots? Do they analyzing data, and buying and selling XBT automatically?
I run a market making bot. It maintains orders on both sides of the book at 1.3% intervals. When my buy orders are filled, it places a sell 1.3% higher. When my sell orders are filled, it places a buy 1.3% lower. I lose out when it trends continuously, but it stabilizes price and I turn a profit when the bulls and bears duke it out. By keeping orders on the book, I help make it possible for companies like bitpay that need to accurately price and immediately convert bitcoins to USD and companies like bitinstant and coinbase that need to go the other way.
That is genuinely fascinating. Thanks for telling us how your operation works. Now here's a man who knows how percentages work. Do you mind if I ask a question plz? How efficient is the following trading method? Use the MACD to mark buy and sells, and when there is uncertainly or very weak trends, go half in. Basically hedge both ways. Is this an ok method? any suggestions would be appreciated plz?
1.3% intervals is obviously a figure you've arrived at after a great deal of trial?
I'm not sure I'd trust a single signal to trade on. If you're looking for something simple, a balancing strategy is decent. Basically, you keep 50% of your value in bitcoin and 50% in USD and rebalance once a week or so to maintain the ratio. Obviously, you can use any ratio you want. Keep a little more in bitcoin when things look bullish, keep a little more in fiat when you're bearish.
Does this strategy work for you?
I have a collection of bot strategies that I simulate with Mt. Gox data. I manually tune the bots with "subsidies" or "taxes" depending on success, so I can discern which bot is the best. The "communist" strategy effectively does what you state (tries to maintain a 1:1 ratio of value), and it is among the bots which require the most "subsidies" to continue operating.
Fees will eat at you if you rebalance too often. Once a week is the most often I'd recommend, once a month might even be more reasonable. Not really a run all the time bot. If you want to bot it, just have it run once a month.
Since the DDOS yesterday, MtGox turned off API support for anything calling the older https://mtgox.com/api pages and is now only allowing orders to be placed through their data.mtgox.com url calls.
I haven't looked on the forum much but didnt see this announced anywhere. Over the next few days I imagine others who run bots will pick up on this, fix their code and re-start their bots.
*edit* To clarify, I believe the API functions to query order response / account data were changed.
Plz forgive my ignorance. Are the bots hostile toward Mtgox?
No, when I talk about bots, I mean the scripts that are written to trade on mtgox through their API. These scripts usually trade high volume (much more volume than users using the website interface).
Why do they use these bots? Do they analyzing data, and buying and selling XBT automatically?
I run a market making bot. It maintains orders on both sides of the book at 1.3% intervals. When my buy orders are filled, it places a sell 1.3% higher. When my sell orders are filled, it places a buy 1.3% lower. I lose out when it trends continuously, but it stabilizes price and I turn a profit when the bulls and bears duke it out. By keeping orders on the book, I help make it possible for companies like bitpay that need to accurately price and immediately convert bitcoins to USD and companies like bitinstant and coinbase that need to go the other way.
That is genuinely fascinating. Thanks for telling us how your operation works. Now here's a man who knows how percentages work. Do you mind if I ask a question plz? How efficient is the following trading method? Use the MACD to mark buy and sells, and when there is uncertainly or very weak trends, go half in. Basically hedge both ways. Is this an ok method? any suggestions would be appreciated plz?
1.3% intervals is obviously a figure you've arrived at after a great deal of trial?
I'm not sure I'd trust a single signal to trade on. If you're looking for something simple, a balancing strategy is decent. Basically, you keep 50% of your value in bitcoin and 50% in USD and rebalance once a week or so to maintain the ratio. Obviously, you can use any ratio you want. Keep a little more in bitcoin when things look bullish, keep a little more in fiat when you're bearish.
Does this strategy work for you?
I have a collection of bot strategies that I simulate with Mt. Gox data. I manually tune the bots with "subsidies" or "taxes" depending on success, so I can discern which bot is the best. The "communist" strategy effectively does what you state (tries to maintain a 1:1 ratio of value), and it is among the bots which require the most "subsidies" to continue operating.
Since the DDOS yesterday, MtGox turned off API support for anything calling the older https://mtgox.com/api pages and is now only allowing orders to be placed through their data.mtgox.com url calls.
I haven't looked on the forum much but didnt see this announced anywhere. Over the next few days I imagine others who run bots will pick up on this, fix their code and re-start their bots.
*edit* To clarify, I believe the API functions to query order response / account data were changed.
Plz forgive my ignorance. Are the bots hostile toward Mtgox?
No, when I talk about bots, I mean the scripts that are written to trade on mtgox through their API. These scripts usually trade high volume (much more volume than users using the website interface).
Why do they use these bots? Do they analyzing data, and buying and selling btc automatically?
I run a market making bot. It maintains orders on both sides of the book at 1.3% intervals. When my buy orders are filled, it places a sell 1.3% higher. When my sell orders are filled, it places a buy 1.3% lower. I lose out when it trends continuously, but it stabilizes price and I turn a profit when the bulls and bears duke it out. By keeping orders on the book, I help make it possible for companies like bitpay that need to accurately price and immediately convert bitcoins to USD and companies like bitinstant and coinbase that need to go the other way.
That is genuinely fascinating. Thanks for telling us how your operation works. Now here's a man who knows how percentages work. Do you mind if I ask a question plz? How efficient is the following trading method? Use the MACD to mark buy and sells, and when there is uncertainly or very weak trends, go half in. Basically hedge both ways. Is this an ok method? any suggestions would be appreciated plz?
1.3% intervals is obviously a figure you've arrived at after a great deal of trial?
I'm not sure I'd trust a single signal to trade on. If you're looking for something simple, a balancing strategy is decent. Basically, you keep 50% of your value in bitcoin and 50% in USD and rebalance once a week or so to maintain the ratio. Obviously, you can use any ratio you want. Keep a little more in bitcoin when things look bullish, keep a little more in fiat when you're bearish.
Since the DDOS yesterday, MtGox turned off API support for anything calling the older https://mtgox.com/api pages and is now only allowing orders to be placed through their data.mtgox.com url calls.
I haven't looked on the forum much but didnt see this announced anywhere. Over the next few days I imagine others who run bots will pick up on this, fix their code and re-start their bots.
*edit* To clarify, I believe the API functions to query order response / account data were changed.
Plz forgive my ignorance. Are the bots hostile toward Mtgox?
No, when I talk about bots, I mean the scripts that are written to trade on mtgox through their API. These scripts usually trade high volume (much more volume than users using the website interface).
Why do they use these bots? Do they analyzing data, and buying and selling btc automatically?
I run a market making bot. It maintains orders on both sides of the book at 1.3% intervals. When my buy orders are filled, it places a sell 1.3% higher. When my sell orders are filled, it places a buy 1.3% lower. I lose out when it trends continuously, but it stabilizes price and I turn a profit when the bulls and bears duke it out. By keeping orders on the book, I help make it possible for companies like bitpay that need to accurately price and immediately convert bitcoins to USD and companies like bitinstant and coinbase that need to go the other way.
That is genuinely fascinating. Thanks for telling us how your operation works. Now here's a man who knows how percentages work. Do you mind if I ask a question plz? How efficient is the following trading method? Use the MACD to mark buy and sells, and when there is uncertainly or very weak trends, go half in. Basically hedge both ways. Is this an ok method? any suggestions would be appreciated plz?
1.3% intervals is obviously a figure you've arrived at after a great deal of trial?
No one wants to buy so high. Price will drop. Unfortunatelly I am a bull at higher levels... 
or, nobody wants to sell so low.
Since the DDOS yesterday, MtGox turned off API support for anything calling the older https://mtgox.com/api pages and is now only allowing orders to be placed through their data.mtgox.com url calls.
I haven't looked on the forum much but didnt see this announced anywhere. Over the next few days I imagine others who run bots will pick up on this, fix their code and re-start their bots.
*edit* To clarify, I believe the API functions to query order response / account data were changed.
Plz forgive my ignorance. Are the bots hostile toward Mtgox?
No, when I talk about bots, I mean the scripts that are written to trade on mtgox through their API. These scripts usually trade high volume (much more volume than users using the website interface).
Why do they use these bots? Do they analyzing data, and buying and selling btc automatically?
I run a market making bot. It maintains orders on both sides of the book at 1.3% intervals. When my buy orders are filled, it places a sell 1.3% higher. When my sell orders are filled, it places a buy 1.3% lower. I lose out when it trends continuously, but it stabilizes price and I turn a profit when the bulls and bears duke it out. By keeping orders on the book, I help make it possible for companies like bitpay that need to accurately price and immediately convert bitcoins to USD and companies like bitinstant and coinbase that need to go the other way.
Since the DDOS yesterday, MtGox turned off API support for anything calling the older https://mtgox.com/api pages and is now only allowing orders to be placed through their data.mtgox.com url calls.
I haven't looked on the forum much but didnt see this announced anywhere. Over the next few days I imagine others who run bots will pick up on this, fix their code and re-start their bots.
*edit* To clarify, I believe the API functions to query order response / account data were changed.
Plz forgive my ignorance. Are the bots hostile toward Mtgox?
No, when I talk about bots, I mean the scripts that are written to trade on mtgox through their API. These scripts usually trade high volume (much more volume than users using the website interface).
Why do they use these bots? Do they analyzing data, and buying and selling btc automatically?
Since the DDOS yesterday, MtGox turned off API support for anything calling the older https://mtgox.com/api pages and is now only allowing orders to be placed through their data.mtgox.com url calls.
I haven't looked on the forum much but didnt see this announced anywhere. Over the next few days I imagine others who run bots will pick up on this, fix their code and re-start their bots.
*edit* To clarify, I believe the API functions to query order response / account data were changed.
Plz forgive my ignorance. Are the bots hostile toward Mtgox?
No, when I talk about bots, I mean the scripts that are written to trade on mtgox through their API. These scripts usually trade high volume (much more volume than users using the website interface).
I look at the larger picture though beyond the day trade. Simply holding your BTC could make you a very rich person as governments and banks continue to implode. We have already seen an example of people flocking to Bitcoin with the Cyprus mess, and now Argentinians are getting on board as the Peso crumbles at 25% inflation per year (!!!). The exodus from fiat has only just begun, thanks to the news people are waking up to the fact there is a way out that never existed until now.
The buy in is higher now, but the eventual end game will make that $100/BTC look like nothing when it crests $1000s as banking exiles find a new home in crypto-currency as trust in the fiat system continues its epic decline to irrelevance.
We are the pioneers of the most massive paradigm shift the world has ever seen. Hold on to your butts when the fiat stock markets go straight into the ground a little later this year probably taking the rest of the world with it, and that is happening right now as it reaches the level it did right before the 2002 and 2008 crashes. Real economists not controlled by NewsCorp see it coming, as the stock trade is booming, while real world economics paint a whole different picture of what is really going on. Several nations are on the brink of total collapse, any market quiver will spell the end at this point, and it cannot simply be "fixed" by Bernake's magic money press this time.
I truly believe Bitcoin may very well be the last working economies left, and soon.
The crazy thing is, nobody can say with certainty that your not right. I love the idea of moving toward btc, and away from gov and bank controls. But I cannot see such a dramatic shift as you propose, without some massive pain. There might even be some extreme and undesirable consequences.
Like the Chinese proverb " may you live in interesting times". Yay, like the potato famine, or world wars. Lets hope things dont get too interesting, to quickly.
Indeed. What happens next is both exciting and terrifying at the same time. Obviously I can't know for sure what will happen, but we're headed for something big I think.
Chimerica! So USA have paid and owe massive sums of US dollars to china. More than can be paid back. And China have become massively dependent on the US$, as they have piles of it, and are owed piles more. They're both locked in this position, headed for a date when USA will default on its loans. So what happens next? Well, maybe Americans deserting the US dollar for btc makes the US$ worthless, and US dept to China basically evaporates. So if China see this happening, the only thing they can do other than start a war, is rush to btc also, exchange their US dollars for btc while they still can. China are already buying gold to reduce dependency on US$, so it seams they are already thinking along these lines.
Could this happen? Could governments have incentives to embrace btc as the financial systems erode and collapse? First they ignore it, then they fight it, then they embrace it whole heartily.
We assume Governments will always oppose btc because it undermines their control. But their system has become a monster, which is out of its cage and out of their control. Btc might solve some of their economic problems, and give them something great to take credit for. Help them win those all important votes
I'll be curious to hear your opinion plz? Are you suggesting btc trading has a 45% fail rate?
Im refferring to this: http://news.yahoo.com/study-shows-45-bitcoin-exchanges-end-failing-173543597.html
45% of Bitcoin trading exchanges fail, often taking customers money with them. I feel it is safer to do my trading through a FSA regulated broker and many serious traders agree with me.
If you are not in the US see my signature for more info on how to get some nice bonuses
The opportunity comes with a cost, and anyhow Gox is reliable enough if you use 2FA.
And the fundamental thing is that trading paper scams is nowhere near holding the real thing
I look at the larger picture though beyond the day trade. Simply holding your BTC could make you a very rich person as governments and banks continue to implode. We have already seen an example of people flocking to Bitcoin with the Cyprus mess, and now Argentinians are getting on board as the Peso crumbles at 25% inflation per year (!!!). The exodus from fiat has only just begun, thanks to the news people are waking up to the fact there is a way out that never existed until now.
The buy in is higher now, but the eventual end game will make that $100/BTC look like nothing when it crests $1000s as banking exiles find a new home in crypto-currency as trust in the fiat system continues its epic decline to irrelevance.
We are the pioneers of the most massive paradigm shift the world has ever seen. Hold on to your butts when the fiat stock markets go straight into the ground a little later this year probably taking the rest of the world with it, and that is happening right now as it reaches the level it did right before the 2002 and 2008 crashes. Real economists not controlled by NewsCorp see it coming, as the stock trade is booming, while real world economics paint a whole different picture of what is really going on. Several nations are on the brink of total collapse, any market quiver will spell the end at this point, and it cannot simply be "fixed" by Bernake's magic money press this time.
I truly believe Bitcoin may very well be the last working economies left, and soon.
The crazy thing is, nobody can say with certainty that your not right. I love the idea of moving toward btc, and away from gov and bank controls. But I cannot see such a dramatic shift as you propose, without some massive pain. There might even be some extreme and undesirable consequences.
Like the Chinese proverb " may you live in interesting times". Yay, like the potato famine, or world wars. Lets hope things dont get too interesting, to quickly.
Indeed. What happens next is both exciting and terrifying at the same time. Obviously I can't know for sure what will happen, but we're headed for something big I think.
Low volume is because we are reaching a tipping point. Both buyers and sellers are on hold. There are two options:
a) consolidation phase, plus steady and sustainable growth (no more bubbling for now)
b) bear market, slow and deep decline (as per 2011)
Anyhow, depth on both sides of the order book is big and healthy. ATM sellers are placing asks and not dumping, buyers are placing bids and not making market orders.
We will see where we are heading at very soon. I say give 70% chances to consolidation phase; 30% chances for bear market.
a) consolidation phase, plus steady and sustainable growth (no more bubbling for now)
b) bear market, slow and deep decline (as per 2011)
Anyhow, depth on both sides of the order book is big and healthy. ATM sellers are placing asks and not dumping, buyers are placing bids and not making market orders.
We will see where we are heading at very soon. I say give 70% chances to consolidation phase; 30% chances for bear market.
+1
I'd add a third option:
c) Final mini-crash of about $15-$25 or so, then a rebound to $90-$100 followed by steady and sustainable growth. The numbers are pulled out of my ass, but you get the point I hope.
We're making conversation, and no doubt its hard to predict the market trends. You don't need to tell us. But Rampion's got a better idea than most
Low volume is because we are reaching a tipping point. Both buyers and sellers are on hold. There are two options:
a) consolidation phase, plus steady and sustainable growth (no more bubbling for now)
b) bear market, slow and deep decline (as per 2011)
Anyhow, depth on both sides of the order book is big and healthy. ATM sellers are placing asks and not dumping, buyers are placing bids and not making market orders.
We will see where we are heading at very soon. I say give 70% chances to consolidation phase; 30% chances for bear market.
a) consolidation phase, plus steady and sustainable growth (no more bubbling for now)
b) bear market, slow and deep decline (as per 2011)
Anyhow, depth on both sides of the order book is big and healthy. ATM sellers are placing asks and not dumping, buyers are placing bids and not making market orders.
We will see where we are heading at very soon. I say give 70% chances to consolidation phase; 30% chances for bear market.
+1
I'd add a third option:
c) Final mini-crash of about $15-$25 or so, then a rebound to $90-$100 followed by steady and sustainable growth. The numbers are pulled out of my ass, but you get the point I hope.
I'll be curious to hear your opinion plz? Are you suggesting btc trading has a 45% fail rate?
Im refferring to this: http://news.yahoo.com/study-shows-45-bitcoin-exchanges-end-failing-173543597.html
45% of Bitcoin trading exchanges fail, often taking customers money with them. I feel it is safer to do my trading through a FSA regulated broker and many serious traders agree with me.
If you are not in the US see my signature for more info on how to get some nice bonuses
Thank you for the link. very interesting. Actually, I'm not to surprised, and it doesn't put me off really. Crypto currencies are new, so its the internet wild west right now. Part of what makes it exciting. History in the making.
And by the way, 90% of all business fail in the short term. So 45% is a pretty good average.
I'm not a stock trader. Or at least not the traditional type. I'm trading bitcoin only because I'm caught up in the intrigue. Otherwise I just invest my money in business
I'll be curious to hear your opinion plz? Are you suggesting btc trading has a 45% fail rate?
Im refferring to this: http://news.yahoo.com/study-shows-45-bitcoin-exchanges-end-failing-173543597.html
45% of Bitcoin trading exchanges fail, often taking customers money with them. I feel it is safer to do my trading through a FSA regulated broker and many serious traders agree with me.
If you are not in the US see my signature for more info on how to get some nice bonuses
Wow, $121.50!!! I've been to cautious. missed the action. Was about to invest half my purse at $13 dollars, but didn't get there in time. To bad
A lot of the big traders moved their action over to plus500 to trade on a FSA regulated site with 4:1 leverage, option to short and instant credit card deposits. Like everything else, most of the action always ends up in "paper" derivatives.
Thank you for posting this. Do you have a link for plus500 plz? Sounds interesting
Not it is not. Do not fell for financial scams aka derivatives. Bitcoin was meant to fight that.
Thank you for your word of caution Rampion. Having read your posts I respect your opinion. I'm just checking stuff out. Satisfying my curiosity
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