21–30 of 129 posts
Don't place market orders, you will get screwed sooner or later.
Even market orders on highly liquid, perfectly well-understood things like forex can bite you in the ass; see all the levered people who got wiped out when Switzerland dropped their peg to the Euro. Stop orders on cryptocurrency are just pure idiocy.
Remember the whale that hunted shorts and longs hours before the ETF rejection? If you do margin trading, you will get rekt sooner or later in this space.
There's the interesting technical side to cryptocurrencies but most people underestimate the entertainment factor.
Don't place market orders, you will get screwed sooner or later.
Even market orders on highly liquid, perfectly well-understood things like forex can bite you in the ass; see all the levered people who got wiped out when Switzerland dropped their peg to the Euro. Stop orders on cryptocurrency are just pure idiocy.
How to turn 2.0003 million dollars into 3: 1- Have 1 million dollars in ETH 2- Place a buy order at a very low price 3- Place a sell order for the 1 million dollars in ETH you own 4- Have a partner fill that sell order 5- Watch the price topple down and your order from 2 get filled
That's not how exchanges typically work you don't get to choose who fills your order the exchange does. But you can manipulate the markets in a similar way without a collaborator. It's called running the stops and is an old technique.
They do if you work inside one. Just saying that people have done way more for way less money.
this is only "possible" because etherium has even less real value than btc. btc still have intrinsic value as it is traded for chinese expating money, scared Venezuelans, American weekend drug users, etc. etherium exists for the sole purpose of playing investing with btc. everyone I know who owns etherium bought after they decided to buy btc and got a price hike on their investment so they flip btc and etherium inste…
Fact: Venezualans screwed themselves because they were too dumb to know that Marxism sucks.
Fact: The Chinese avoid doing the hard work of reforming their nation and instead allow a faux-Marxist oligarchy to rule over them with an iron fist.
See? Fix the shit and you don't need to sneak around in the back alleys. It's the same theme over and over and again with the human race. And the US isn't immune, either--we're just one financial collapse away from the same totalitarianism ourselves.
Earlier quoted context omitted.
He means the resting asks did not drop that low, only the resting bids.
The resting visible asks. Clearly if the exchange matching engine was working properly there were asks that low (in the form of stops). That's pretty typical in crashes.
Earlier quoted context omitted.
That's not how exchanges typically work you don't get to choose who fills your order the exchange does. But you can manipulate the markets in a similar way without a collaborator. It's called running the stops and is an old technique.
>That's not how exchanges typically work They do if you work inside one. Just saying that people have done way more for way less money.
Or it could be that this is immergent behavior that exists in all modern exchanges and it hit a population that wasn't prepared for it because of lack of sophistication.
this is only "possible" because etherium has even less real value than btc. btc still have intrinsic value as it is traded for chinese expating money, scared Venezuelans, American weekend drug users, etc. etherium exists for the sole purpose of playing investing with btc. everyone I know who owns etherium bought after they decided to buy btc and got a price hike on their investment so they flip btc and etherium inste…
it's worth more than bitcoin was worth ~3 months ago
Earlier quoted context omitted.
Even market orders on highly liquid, perfectly well-understood things like forex can bite you in the ass; see all the levered people who got wiped out when Switzerland dropped their peg to the Euro. Stop orders on cryptocurrency are just pure idiocy.
I'm not following why stop orders on Crypto are idiocy?