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May 19, 2013, 06:00:57 AM |
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Hello. I was wondering how do you do purchase and sales. The way I do is:
In the case of purchase, I devide my purchase task into 10 pieces of the pie, and for each piece:
1. Check the lowest price today, and the current price, and bit to buy the middle value between current price and lowest. 2. Sleep a night. 3. The next day, see if the order is filled. If yes, repeat 1-2 for the next piece. If no, get nervous and buy the piece at current price.
If I sell, I do the opposite.
My question:
1. I thought buying this way I can often catch the lower price than market average, but if I am really so correct, everybody else would have been doing this already, and there must be some losers, so perhaps this method isn't so working after all.
2. I wouldn't know if it worked! There is no way to verify if my method did work better than other people's, unless I know how others buy.
3. Even if this method works, it perhaps needs to be improved, e.g. bid 2 pieces at a price bewteen last 24-hour lowest and average, and if it is not filled in 24 hours, reduce to buy 1 piece, and if it is filled, buy 3 pieces. Or, vary the wait-time from 24-hours to 48-hours depeneding on whether the previous order is filled. Anyway, someone must have studied these methods. What is the keyword to search for other people's algorithm? I more or less believe my little invention doesn't work. If there is an often-good way to buy, they would have been offered by market operators like MtGox as a service, and they didn't, so this doesn't work.
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