Wow, what a post post..
Whatever you are describing yourself as doing in terms of BTC trading and preferences seems strange and disjointed to me, even though I understand that each person (assuming that you are a person) has a different approach to trading or accumulating bitcoin and goals, and each person has a past practice of employing differing strategies in terms of the extent to which they gamble their whole trading stash or if they are content with trading smaller portions of their stash (whether attempting to accumulate fiat or BTC).
I like to call my method something like - Semi-High Frequency Day Trading
I think you need a bot for
true high frequency..
I like to put on the exchange what I want to trade, and usually trade with all of it.. Either full stash orders or many placed orders at the same time, keep all of it out there.. Keep the orders in where I expect them to hit, and move them to keep them in range if/when the market moves..
I like to put the orders as deep in the books as I can to where I can still expect them to get hit by the slippage of big trades.. Therefore trading the spread plus as much of the slippage that I can grab.. So like a bigger "spread", where orders actually fill..
You ever make a market trade and fill like 30 orders or more? I want to be that 25th-29th order deep that you hit where your price slipped to.. Those are my satoshis
If their is enough difference to catch it works great in sideways markets, always makes me feel like I sold too soon in up markets, and a lot of small stoplosses/break-evens when the market goes down..
0 fees means any tiny bit of spread is a WIN
The higher the fees the bigger spread I have to play..
Coinbase has so much LIGHTNING FAST bot liquidity in the books, their is no spread and very little slippage because oodles and oodles of liquidity bots chase the spread to zero instantly like lava flows battling in the depth chart..
The goal is to accumulate BTC mostly for HODL purposes but I'm weak for cars/parts so I've spent some, and it has done me well.. It has made me almost all of my stash + purchases except some lucky meme cards that made me some money too.. I never "buy" BTC..
So, yeah, I get it that you are attempting to trade rather than purely accumulate bitcoin and HODL, and you seem to want to trade BTC in order to become profitable whether you measure your profits in dollars or in bitcoin remains unclear to me because you are not describing whether you have connections to banks or how you might have planned to cash into fiat if that was one of your goals. Furthermore, it sounds as if you want to attempt to profit from smaller increments of trades, but you do not have bots yourself, but you believe that you are not able to profit as much if you conclude that the bots are more prevalent on any given exchange?
I feel bad for selling some of my precious BTC for another damn BMW and I need to make it back to feel whole again..
I measure my profits in BTC, I don't care if it is going to $500 I want more of it. Because I KNOW one day its going to be YUGE..
Cashing out to fiat is not really a goal or problem.. I like to keep away from that as much as possible but I've done it twice now
It is so tempting when I see deals IRL too good to pass up but I don't, except for rare moments of weakness.. But I have a coinbase that is all set up with my bank, and used previously, so that's not a thing really..
I don't generally mind bots but bots that are configured for 0% maker fee are a whole other animal, Like I explained..
I personally believe that you can still profit if bots are present and if spreads are close because the main way to make money is to bet based on the movement of the price rather than the spread.. because when the BTC price moves, it seems to move on all exchanges in the same direction, and sure of course some exchanges will move faster and further than others, but there also does not seem to be much of a pattern for well established exchanges regarding which one is going to move farther or moves first. So, in that regard, it can be useful to have some value on more than one exchange, and sometimes even if you set orders at the same prices, the orders might sometimes fill on exchange A more often than exchange B, but then that situation can reverse, from time to time, too.
Yeah but then the market HAS to move, and you have to be correct on which way you thought it was going to move, and you have to wait..
No way I could sleep at night with my BTC sitting in fiat because I was expecting the market to move down..
I am settled back into BTC after each trading session 99.9% of the time..
It appears to me that whatever you are attempting to do falls into a category of kind of winging it, and unclear to me how what you are doing is not just placing a bet and then gambling that the BTC price moves in that direction and then if the price moves in the opposite direction then you replace your bet by another bet, and so ultimately you are hoping to gain profits (but you are kind of expecting to NOT have any money left (principle or profits) after going through the process for a while and that is why you have not set up any exchange accounts that are linked to bank accounts)?
Winging it, kinda maybe..
When I place an order, I am placing a bet, that if that order fills, I can resell it for a profit BEFORE the market moves, with just the slippage spread, or the help of extremely short term volatility.. Just a percent or 2..
If the fees are 0.1% each way (buy/sell) then the first 0.2% of my spread breaks even so a 0.4% flip makes me .2%..
Do that 0.4% flip 30 times in a trading session or so, 0.2X30=6 - it makes me 6% for the day, but it's actually compound % for multiple trades etc..
But I don't just make 100% good flips.. The market moves and I break even or lose a tiny bit on 1/3rd of them or whatever, but usually it's a little better than a 0.4% flip I'm trying for, 1% is pretty common so 0.8% profit each time after fees.. That shit adds up if I can get in the groove and get it working.. Just a few % per day is stupid good when you compound it..
I basically try to do what you would want a bot to do I guess..
Speed placing, canceling, and replacing orders is important too for the market moving..
Margin is good for when the market is obviously moving infront of my face, especially up trading BTC, because I'm trying to make BTC..
You cant make more BTC on a fiat market when BTC is going up, you can only HODL, unless you have leverage.. With long leverage you can make more BTC while it's going up..
Their isn't much to do in a BTC bull market if I don't have leverage..
Altcoins usually trend down and you can only make BTC on that of you short it.. Just watch and wait till it stops so you can play the spread and try to catch the "falling knife" and/or "dead cat bounce" because you can only profit on the up side with no leverage..
I'm not very practiced at shorting alts but using long leverage on BTC when it was pumping sure was a blast!
Though I didn't have a lot of stake in it, if only I would have had the balls..
Personally, I believe that it is much better to attempt to establish your initial trading stash without margin and to get a hang of the situation, but I understand that you can gain a lot more by use of margin, if you are lucky (or insider information) enough to be able to place your bets in the right direction.
I'm not much of a swing trader, trading movement, so I don't use leverage much..
I think I have developed this method of trading because crypto usually just floats down.. Floating down slow enough to be realistically sideways, 1-2% a day, this trading style works in boring markets..
Just a flat market with the trad-able slippage spread a bit bigger than the fees and maybe 1-2% up/down volatility is purrrfect.. All day long..
Volume is a bit important too, because if it's working good and I want to trade with a larger amount, my trades have to be the small ones..
If my orders ARE the market's walls it doesn't work at all, lol..
It is extremely easier to do this on lower volume markets with just a little bit of BTC..
I could probably turn 100k sat into 200k sat like every day no problem because you are small enough not to effect the little market with a huge spread, you are just dust..
The market has to be like exponentially bigger than you for you to be just dust to them so you need bigger volume markets to do it with even like 0.1BTC..
I'm trying to up my game and trade with larger amounts, and make larger profits, to maybe REALLY make something trading. I put a LOT of time into trading when I trade so I have never really made much as compared to all the time I've spend doing it..
Considering all the TIME I have spent trading, maybe I have made McDonalds wages doing it, lol..
I have made unbelievable %s on my BTC considering what I started with, really you wouldn't believe it in terms of %, but it doesn't amount to all that much, e.g. I'm not retired off of my crypto, yet.. I want to make it life changing..
I want that Lambo money, but really I'm a simple guy and the money it costs to buy a lambo would last me a LONG time just to do whatever I wanted and be free..
Freedom from the rat race, come on BTC..
I'm trying to find the right place that I can do it with larger amounts, or I'd just go to cryptopia where I could make satoshis forever..
I've also never been able to figure out how to tell when pumps/spikes are coming, so I have to be there to catch them happening.. Trading like this my chances of being there at the right time for spikes is also greater I believe..
Sorry that's long, but so was yours
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