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Title: Graphs and Price change question? Post by: bradbrad on May 20, 2013, 06:59:48 AM Not sure if this is the right place to post this, but hoping someone can help me understand. Warning, I am a bit of a newbie to graphs :)
Looking at the volume on bitstamp, the bottom graph, if it says for example "50 BTC can be sold for a total of 5.83k USD untill price goes below 114,48" Does that mean if I sell 50 coins, the price will drop from 116.33 to 114.48? http://www.vertexcentral.com/short.jpg Title: Re: Graphs and Price change question? Post by: RationalSpeculator on May 20, 2013, 07:07:04 AM I think so, yes
Title: Re: Graphs and Price change question? Post by: Miz4r on May 20, 2013, 08:35:58 AM Only if you do a market order, which would not be an advisable thing to do at Bitstamp.
Title: Re: Graphs and Price change question? Post by: BitPirate on May 20, 2013, 08:38:13 AM You could take it to mean that "you would have to set your limit order at $114.48 if you wanted to fill an entire order of 50 BTC immediately".
Title: Re: Graphs and Price change question? Post by: bradbrad on May 20, 2013, 08:41:03 AM Only if you do a market order, which would not be an advisable thing to do at Bitstamp. Why not? Tested it out, but it only sold 11BTC which caused the price to drop a bit, but obivously not the full amount because the full amount didnt get soldTitle: Re: Graphs and Price change question? Post by: Miz4r on May 20, 2013, 08:46:57 AM Only if you do a market order, which would not be an advisable thing to do at Bitstamp. Why not? Tested it out, but it only sold 11BTC which caused the price to drop a bit, but obivously not the full amount because the full amount didnt get soldBecause it's more profitable to set a limit order just under the current lowest ask price. Title: Re: Graphs and Price change question? Post by: BitPirate on May 20, 2013, 08:52:08 AM I think the "instant order" at Bitstamp just sets a limit order at the current "best price", and then moves it to the current "best price" every 5 minutes. It doesn't account for slippage. So it's not that bad.
Title: Re: Graphs and Price change question? Post by: Miz4r on May 20, 2013, 09:04:22 AM I think the "instant order" at Bitstamp just sets a limit order at the current "best price", and then moves it to the current "best price" every 5 minutes. It doesn't account for slippage. So it's not that bad. What if more people are doing instant orders at the same time? Wouldn't you run the risk to sell lower than you wanted to when the bid side is rather thin? |
