Currently, I am using around $250 increments and my spreads are around $900...
I have gone back and forth with jbreher on this topic of increments, and he seems to have way the fuck smaller increments than me, and he claims to be making a killing whether the BTC price is going down or it is going up, he is saying that he is making a killing..
Jeebus - my eyes glazed over again - I almost fell asleep before I saw my name.
Yeah.. maybe I should have highlighted or some way of making it easier for you to see.
No, I don't claim to be making a killing - just harvesting a consistently nice bit of the volatility.
You are correct, "killing" might be a wee bit too strong... .
Firstly, my current increments are exactly what you claim to be employing. But I think I see the issue that keeps you thinking all the time, instead of just rote executing. What is this $900 spread of which you speak?
For example, currently, my next buy order is at $6,300-ish and my next sell order is at $7,450 - ish
So maybe the spread is $1,150; however, my last sell was at $7,200-ish, so I am thinking that the buy back for the sale is $900 cheaper than the price that I sold... even though really the spread between my next action of some sort of buy and sell might be considered higher than $900.
so yeah, by increments I mean that every additional $250 down, I buy some more.. . and every additional $250 up I sell some more.
I did think that you used to have much smaller increments and even a smaller spread, too.
Nay, if my increment is $250, my spread is $500. So any order gets entered exactly as the order two before it (think about it).*
I used to do something closer to that, but I did not like it and I think that part of the reason was that I thought that I was spinning my wheels too much in terms of ratio of profits to fees, and also maybe I felt that such a small spread just caused my orders to trigger way too often. I prefer what I am doing now largely for those two reasons.
By the way, we have been in these prices for so long that my order locations are largely in my head, too... so I don't really have too much time with that, except maybe sometimes orders might not get hit for a week or more.. sometimes only a few orders hit in a month's time.. but surely in recent times they have been getting hit quite a bit.
* spread has to be 2X increment. If a buy, fill the middle with a sell. If a sell, fill the middle with a buy. duh.
Well, it is a strategy.
Sure.. there is not ONLY one way to structure the buy and sell orders and the tweaking from time to time and the thought process around resetting matter, but surely it takes me more than 12 seconds on average per buy/sell order to reset such buy or sell orders after they have been filled, and maybe I fart around in other ways, too that cause me to believe that sometimes when a bunch of orders execute, then I sometimes will feel that i am spending a decent amount of time on considering some matters (or gloating perhaps), but some of that might be other aspects that i want to monitor whether deemed as trade secrets or not.. or personal analyzing details that I just do not feel willing to share.
Sometimes I might feel like a bot when going through some of the mechanics of setting orders and keeping track and tweaking, even though I am not a bot.. and sometimes I am not sure how well what I do could be replaced by a bot, even though there are ways to set up what I do like a bot would do and also to carry out the functions like a bot, and maybe if orders are filling quickly and repetitively, then maybe some of my actions do become more robotic during those kinds of times, so there is that aspect, too... but still no where close to 12 seconds per order reset.. nothing close to that...
Oh, I just thought of another tweaking thingie-ma-jiggie that I have been doing in the past couple of weeks whenever sell orders fill, which I have been tweaking my buy orders all the way down to $3k... For sure, I do not want to have those buy orders executed.. but that has been taking a bit more work to use some of the proceeds of recent sell orders to cover higher amounts at lower prices and lesser amounts at higher prices (a kind of ongoing redistribution of buy orders to make me feel much MOAR better, even though I hope that those buy orders between $3k and $5k never, ever, ever fill).
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