Staggered sell orders

[viola]

In a previous thread, I saw that many traders here set up a series of staggered buy orders, starting with small bids around $50 but larger near the bottom. Is it also a good strategy to make staggered sell orders starting at, say, $80, increasing the asks as it gets up to $250? Or is there some reason why it's better to sell manually instead?

Thanks in advance! I'm new to trading and am experimenting with a small amount.

[ManBearPig]

We have a problem in that Mt Gox is the biggest and most liquid exchange.

It also has no complex order system.

So whatever you can do to control your risk and maximise your gains - go for it.

It's always better to sell manually - you can beat the wall price by upping your Bid or Ask by just a cent for instance and that may often be the difference between the order being filled on the way up or on the way down - this is massively better than market orders. But then you need to pay attention at all times. Your sentiment will change with every movement and that's why we see those big, shifting walls.

Now the lag is down to merely annoying level I find I can juggle my Bids and Asks quite deftly using Gox's clunky webpage and see them update (almost) instantly.

[viola]

Thanks for the insights!

I see now that for many of the large orders of hundreds of btc, there's a bunch of orders that are about .001 above them. Also, it appears those large orders usually fall on whole numbers. So, it seems that in general, if one wants to do staggered orders, it's best to have buys that end in .001 and sells that end in .999.

So for manual orders... are people watching the wall movement graphs for a high-level overview, the candlesticks for the timing, and the order book for the exact amount to buy/sell?

[ManBearPig]

You're more than welcome.

Yes you have the right idea.

The best view of the order book is found at: http://bitcoin.clarkmoody.com/

You can group prices or see every individual order <- this is where the battle is won!

[viola]

The best view of the order book is found at: http://bitcoin.clarkmoody.com/

Yes, Clark's site is what got me all interested in trading in the first place. I'm in bitcoin longterm for political reasons, but I figured I might as well have fun with a small amount as long as the price is still swinging around crazily

You can group prices or see every individual order <- this is where the battle is won!

Does that mean you always have it grouped by individual order, or do you sometimes have it grouped by a certain amount?

[ManBearPig]

Well I zoom in and out as I need. When I'm ready to pull the trigger I'm watching individual orders.

[viola]

Ah yes, that makes sense. Appreciate your responses!

[Bro]

good advice in this thread

I have a related question of my own:
does it make sense to trade for BTC in one account and trade for USD in another account?