What should I set my buy orders at? | Bitcointalksearch.org

kriwest

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Quote from: SlipperySlope on April 22, 2013, 09:35:05 AM

Quote

If BTC has been stable for 24 hours: buy $ amount (stable = a percentage updated based on recent volatility)
If BTC dips below x: buy $ amount (where x = percentage below current high for the past 12 hours, also based on recent volatility)
If BTC rises above x: sell $ amount (where x = percentage above current low for the past 12 hours, based on recent volatility)

I believe, without sources, that one or more market-making bots are using a similar strategy on Mt.Gox. If this works for you, then make bot on one of the trading software applications.

I will try it out for a while and see how it goes. I wish I knew how to program a bot, but I guess if I ever start trading at a high enough level I could outsource it. Not at this time though.. needs more testing + I don't deal with large enough volumes to make it worthwhile.

SlipperySlope

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Stephen Reed

Quote

If BTC has been stable for 24 hours: buy $ amount (stable = a percentage updated based on recent volatility)
If BTC dips below x: buy $ amount (where x = percentage below current high for the past 12 hours, also based on recent volatility)
If BTC rises above x: sell $ amount (where x = percentage above current low for the past 12 hours, based on recent volatility)

I believe, without sources, that one or more market-making bots are using a similar strategy on Mt.Gox. If this works for you, then make bot on one of the trading software applications.

Malawi

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One bitcoin to rule them all!

Buy at $150

Surpbitcoin

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I have about 20K in orders spread over 3 exchanges.

My bids start at 30 all the way up to 100!

kriwest

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My strategy:

If BTC has been stable for 24 hours: buy $ amount (stable = a percentage updated based on recent volatility)
If BTC dips below x: buy $ amount (where x = percentage below current high for the past 12 hours, also based on recent volatility)
If BTC rises above x: sell $ amount (where x = percentage above current low for the past 12 hours, based on recent volatility)

If none of the above: hold.

b!z

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Buy at $120! Cheesy

ManBearPig

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"Don't go in the trollbox, trollbox, trollbox"

I called a Buy at $111 after we receded from the 7-day high at $136.

Nothing much has changed, $100 is way too cheap so a dollar or so above the closest option $110 would be my answer.

BUT: I have no idea of your strategy so only assume you want to buy under the very short-term market value!

Xiaoma

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Quote from: odolvlobo on April 21, 2013, 06:48:48 PM

Unless you are buying a large amount, just pay the asking price. You might not get the lowest price, but at least you will have them. If you think that the price of bitcoin is going up, does $1 really matter if you bought them for $103 instead of $102? You may even do worse by waiting for it to drop to your bid price if you have to keep raising your bid price. Just buy them and be happy about it.

This is very sensible advice, when market is going up. Waiting 30 minutes could mean losing $5 to $10 dollars per BTC, in the hope of saving a dollar.
Is not valid when market is going down, where waiting a bit would let you buy more coins for the same dollars.

There is no advice at all when price is going updownupdownup. Any moment could be higher or lower. Wink

Miz4r

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Quote from: awakening on April 21, 2013, 06:36:31 PM

Quote from: Miz4r on April 21, 2013, 06:34:19 PM

Doubt it will drop much. $110 is probably the lowest it will get if you're lucky, I'm sorry bears. Tongue

I have been hearing that since.. yet two lows into the fifties, in the last week.

I'm talking short term here, like the next 24-48 hours. Market has gained a lot more confidence now and the support up to $110 is really strong. Look what happened earlier today when 16k coins were sold in a matter of seconds during lag and DDoS, the price dropped to $110 and almost immediately shot back up to $120 again. If that can't even bring the price down below $110 then I don't know what can...

odolvlobo

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Unless you are buying a large amount, just pay the asking price. You might not get the lowest price, but at least you will have them. If you think that the price of bitcoin is going up, does $1 really matter if you bought them for $103 instead of $102? You may even do worse by waiting for it to drop to your bid price if you have to keep raising your bid price. Just buy them and be happy about it.

smurf2094

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I set mine at $111. Reason because it's just been chilling at $118 for like 5-10 minutes.

awakening

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Quote from: Miz4r on April 21, 2013, 06:34:19 PM

Doubt it will drop much. $110 is probably the lowest it will get if you're lucky, I'm sorry bears. Tongue

I have been hearing that since.. yet two lows into the fifties, in the last week.

zoinky

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Web Developer

Quote from: smurf2094 on April 21, 2013, 06:30:50 PM

Voters are very bearish... Majority is $80. Any reasoning as to why it'd go down so low? I mean if it hasn't gone down yet since MtGox came back online, why would it go down now..

Lotta people feeling the squeeze Tongue

Miz4r

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Doubt it will drop much. $110 is probably the lowest it will get if you're lucky, I'm sorry bears. Tongue

smurf2094

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Voters are very bearish... Majority is $80. Any reasoning as to why it'd go down so low? I mean if it hasn't gone down yet since MtGox came back online, why would it go down now..

awakening

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60$

Rygon

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Infinity... and beyond!

Xiaoma

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Quote from: smurf2094 on April 21, 2013, 06:21:33 PM

Poll... or comment idc haha. I'm asking this cuz I feel like imma put it at $102 and it will stop dropping at $103...

I did that already... put order at $101.50 and stopped at $101.60 (kind of) LOL
So now I just leave $90 and stop looking Wink

smurf2094

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Just dropped to $115... Hmmm keep goin babe

Kazu

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$110 is my lucky number, but $100 to be safe.

Topic: What should I set my buy orders at? (Read 1672 times)