Hi,

Recently I began to wonder if crypto trading couldn't be perceived as gambling by its pure form. I know that we have here enthusiasts of crypto trading but I hope we can take it cool and try to think of it reasonably. Having this conversation might be helpful not only for beginners but also for more advanced traders. By saying that I mean people who trade longer, not necessarily who gain more profit.

First of all, I must say that by no means am I trying to state here one and only truth. This post is rather a bunch of my own thoughts which I would like to share and develop.

The question arose when I was trading during one of my daily session and it was neither good nor bad as for the closing balance sheet. The problem was that I was using my limited knowledge and at that point all I was doing was like trying to find something elusive. I knew it was there but couldn't really predict anything. The best metaphor I can find is pretending to be a doctor and curing people without having a clue about medicine. What it implies is that you can't be a good doctor without studying huge amounts of material and reviewing multiple case studies. Before you reach a certain level, you can easily hurt people or hurt your wallet.

This is where I come to the conclusion that for most of people who trade, trading is just a gamble. Sometimes they win, and this is where legends are born most of the times. Sometimes they lose, what happens more often. In general we are lured by huge and rapid wealth and such desires are addictive, especially if you succeeded a couple of times. Only few are determined enough to reach a level of proficiency before losing it all - money, hope and a touch of reality.

It sounds depressive as I read it but this is how I see this.

Thanks  y'all for answers.

A'ight. That also explains why I always saw '+' on the right side ('cause as I dive deeper into DOM chart, I move towards higher and higher ask prices). Same with bid prices, which are positioned the opposite way (those which are less desirable from sellers' POV are simply cheaper, positioned gradually to the left).

As for how much valuable data I can find looking at this chart, I understand your gentle suggestion. Although I'm completely new to trading, I've been interested in crypto for around a year now. This gave me basic understanding of the market - if correct, idk. But you know, if I want to understand it, I need to start somewhere. It'd be at least reckless to believe that one can make money simply by looking at a chart that's given to everyone. But it brings us to the discussion of what is more valuable - technical or fundamental analysis. If I were to answer, I'd say both, depending on what your goal is. And with technical analysis it's like with health. You can't use one symptom to diagnose what's going on.
Besides my first thought was if I could use a simple program which does the same what I'm trying to do observing depth chart - read orders - but keeping up with new orders coming from all over the world in real time. If I could make it, there'd be no problem to set a few orders and cancel one of them if the other was successful.

I feel dizzy knowing what I know or maybe realizing what I don't. Any suggestions for such a headache for a newbie? My answer was that I should trade, trade and trade with small asset using what I have just learned and trying to observe any relationship. Binance and no fees trading pairs with huge volumes seem just the best way to start as there's room for mistakes and deduction. Correct me if I am wrong. But then if I switch to bigger asset or different market, conditions change and my conclusions might be worth nothing. That's crazy...

Anyway sometimes I wonder if this isn't gambling.

My first guess was that they show how much a price can vary if you decide to suy/sell BTC of a given amount but after 3 days of observation + was always on the sell side while - always on the buy side even though it should change and change quite lively as entire order book is so lively

Hi,

As in the topic - what are these percentages circled on the attached picture here: https://ibb.co/PWBr81L
I know that horizontal lines represent accumulated amount of BTC orders to the level of price which is indicated by vertical lines.


Have a good day trading!
walker_/L