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July 13, 2013, 10:59:16 PM |
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quick tips
say you had 100 bitcoins.
break them up into 10-20 lumps of 1-20btc each
place them randomly down the order line.
this makes it easier for you to manage: holding you position EG if you had 100BTC at a price and someone puts an order in at same price, your order gets eaten first and then theirs. but if you suddenly decide you only want to have 10btc at that price, you have to cancel your order and re order again, making you second place inline. where as having 10 batches of 10btc at that price you can cancel 9 of them, leaving one in pace and still beat the queue.
never throw all eggs into one basket by having lumps of 1-10btc as oppose to throwing the whole order in at one line. you can free your funds to invest into other alt currencies, or more importantly of the 'trend' chances direction you still have funds available to move with that trend.
wall creation on BTC-E anything more then 10BTC (sometimes even 2btc) can be considered a wall, which some noobs notice and think to themselves the price wont go beyond that order, thus changing the trend into the other direction.by having split orders you can free your funds to ensure they dont create walls, thus get the order filled easier. or by piling your spare orders on existing orderlines just to create a wall.
sell high / buy low if a order gets sold.. then the price keeps rising, buying in again above your sell price is reducing profit. especially if the second you re-buy. the price tanks.. meaning you sell at a loss.. you have technically lost twice.
by having split orders when a sell happens, put it as a profitable buy order price and leave it. use the other spare funds to move with the trends. dont be tempted to buy/sell at a loss.
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