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Author Topic: Crypto trading time vs Olde Worlde trading time  (Read 101 times)
gentlemand
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April 22, 2018, 10:52:53 PM
Merited by buwaytress (1)
 #1

I thought this was a dead interesting post on an area which is hardly ever picked up on.

In essence it's comparing the amount of actual trading time between crypto and conventional markets. It's easy to forget when we're mired in a 24/7 global market, the old school ones are largely national and operate only during a limited number of business hours which is incomprehensible to yer average moonkid.  


https://www.reddit.com/r/BitcoinMarkets/comments/8e5z5u/this_was_never_even_a_real_longterm_bear_market/dxsqqc2/

"The NYSE is open 6.5 hours per day for 252 days per year, yielding 1,638 hours of trading time annually. Crypto markets are open 24/7/365, yielding 8,760 hours of trading time annually.

1 year of crypto trading = 5.3 years of NYSE trading
1 month of crypto trading = 5.3 months of NYSE trading
1 week of crypto trading = 5.3 weeks of NYSE trading"


Do you reckon this means applying this formula can yield previously unnoticed parallels or makes comparing them even sillier than before?





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April 23, 2018, 06:40:00 AM
 #2

I have never done conventional market trading, but these numbers explain a lot about how different crypto trading is.
If nothing else, you have to be glued to your computer screen 5.3 times longer (all around the clock), and the amount of stress can be enormous.

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April 23, 2018, 07:10:39 AM
 #3

It's an interesting view for sure, but I don't think it makes for a very relevant comparison. People still mostly trade within their respective timezones, which traditional markets are aligned with. People's perception of time is also the same; they count days and weeks, not trading hours, so I'm not entirely convinced that crossing the 2784-hour mark in Bitcoin trading would necessarily equate to crossing 1.4 years of equity market trading. Markets shifting while you sleep does alter decision making significantly, but I still don't think the formula is quite as linear as that.

In the case of the post cited, if we specifically want to know how long the typical crypto bear market would last, I'd say it makes more sense to map out how long they've usually lasted in the past, rather than using traditional market figures then converting them into crypto trading time.

To answer your question though, this does make comparing them look sillier than before.

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April 23, 2018, 07:11:46 AM
 #4

That's the ridiculous part about the old economy - it's not 24/7. How can you have a non-24/7 in a globalized, bot-controlled financial market? Makes no sense to me.
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April 23, 2018, 07:48:59 AM
 #5


1 year of crypto trading = 5.3 years of NYSE trading
1 month of crypto trading = 5.3 months of NYSE trading
1 week of crypto trading = 5.3 weeks of NYSE trading"


Do you reckon this means applying this formula can yield previously unnoticed parallels or makes comparing them even sillier than before?






What do you mean? What parallels? What effects should that have in the Bitcoin market? Must it have an effect? The forex market is also a 24/7 global market, so I do not see the significance.


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April 23, 2018, 09:28:59 AM
 #6

I have never done conventional market trading, but these numbers explain a lot about how different crypto trading is.
If nothing else, you have to be glued to your computer screen 5.3 times longer (all around the clock), and the amount of stress can be enormous.

A few years ago, that used to plague me. I lost a lot of sleep staring at BTC charts (and setting trading alarms). Screw all that noise. I just trade the 1-day and above time frames now, which isn't much different from swing trading the stock markets and indices.

That's the ridiculous part about the old economy - it's not 24/7. How can you have a non-24/7 in a globalized, bot-controlled financial market? Makes no sense to me.

There is off-hours trading, so some traditional markets run 24/7. Forex runs 24/7. But it's true that in traditional markets like stocks and most commodities, you need to account for gaps. Lots of day traders close positions at the end of the week to avoid weekend shenanigans and surprise Monday spikes.

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April 23, 2018, 01:43:40 PM
 #7

Interesting, sure. Not sure it's really overlooked, though, as seasonal and periodic trading frames have been discussed before. I actually have some experience in forex markets and there were always some windows of opportunity for timing geographical markets when judging reactions to news and events, but this has not been the case with Bitcoin markets. Remember the January period that served so faithfully in past years only to fail in 2018? And look at this weekend's trading too, so much action outside of traditional time zones.


It could be that with traders coming in from forex and stocks might affect weekend and holiday crypto trading, though. Makes sense that they divert from day jobs on Sundays to get their fix on Bitcoin.

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April 23, 2018, 01:44:29 PM
 #8

That's the ridiculous part about the old economy - it's not 24/7. How can you have a non-24/7 in a globalized, bot-controlled financial market? Makes no sense to me.

There is off-hours trading, so some traditional markets run 24/7. Forex runs 24/7. But it's true that in traditional markets like stocks and most commodities, you need to account for gaps. Lots of day traders close positions at the end of the week to avoid weekend shenanigans and surprise Monday spikes.

Forex markets do close for the weekend so they are 24/5 generally. The NYSE has extended hours pre-market trading 4:00 a.m. to 9:30 a.m. and post-market trading from 4:00 p.m. to 8:00 p.m. Then there are also futures markets, eg. CME S&P 500 futures only close for 1hr so trade 23/5.

I don't really think this actually makes any difference other than the psychological effect of gaps that occur when a market reopens after a close period are absent from crypto markets.

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April 23, 2018, 02:14:57 PM
 #9

I thought this was a dead interesting post on an area which is hardly ever picked up on.

In essence it's comparing the amount of actual trading time between crypto and conventional markets. It's easy to forget when we're mired in a 24/7 global market, the old school ones are largely national and operate only during a limited number of business hours which is incomprehensible to yer average moonkid.  


https://www.reddit.com/r/BitcoinMarkets/comments/8e5z5u/this_was_never_even_a_real_longterm_bear_market/dxsqqc2/

"The NYSE is open 6.5 hours per day for 252 days per year, yielding 1,638 hours of trading time annually. Crypto markets are open 24/7/365, yielding 8,760 hours of trading time annually.

1 year of crypto trading = 5.3 years of NYSE trading
1 month of crypto trading = 5.3 months of NYSE trading
1 week of crypto trading = 5.3 weeks of NYSE trading"


Do you reckon this means applying this formula can yield previously unnoticed parallels or makes comparing them even sillier than before?


Your analysis is all right but not totally correct. The reason is that you are comparing the crytpo market assuming that everybody is active on the market 24/7 which is not possible against just one market which is the NewYork Stock Exchange. New York stock exchange market might be open for that 6.5 hours but another stock market in another part of the world is opening at the time when NewYork is closing while another one is closing at the time New York is opening. Yes bitcoin market is 24 hours but the 24 hours is not available for everybody you do your working hours and when its time to sleep, you go to bed. Even on the forum here, there are some hours that would be uniform for down activities that could be interpreted to be the closing time.

While it would be uninformed to compared the two, it would also be wrong to give one superiority over the other based on comparing global activities against one state activity.
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April 23, 2018, 03:54:50 PM
 #10

What do you mean? What parallels? What effects should that have in the Bitcoin market? Must it have an effect? The forex market is also a 24/7 global market, so I do not see the significance.

Forex is rarely mentioned and it's certainly not an area mom and pop ever go near. For whatever reason crypto has wound up being measured against stocks, even though it's a rather silly comparison.

People want the same money, retail and institutional, to come into crypto that exists in other areas of investment. Therefore it's worth considering how the actual markets behave and the differing factors.


Your analysis is all right but not totally correct. The reason is that you are comparing the crytpo market assuming that everybody is active on the market 24/7 which is not possible against just one market which is the NewYork Stock Exchange.

You can't trade Tesla, Amazon or Apple by switching to the Dhaka stock exchange when NY or NASDAQ hits the sack. In comparison crypto is open to everyone, everywhere all day long.

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April 23, 2018, 04:26:07 PM
 #11

I thought this was a dead interesting post on an area which is hardly ever picked up on.

In essence it's comparing the amount of actual trading time between crypto and conventional markets. It's easy to forget when we're mired in a 24/7 global market, the old school ones are largely national and operate only during a limited number of business hours which is incomprehensible to yer average moonkid.  


https://www.reddit.com/r/BitcoinMarkets/comments/8e5z5u/this_was_never_even_a_real_longterm_bear_market/dxsqqc2/

"The NYSE is open 6.5 hours per day for 252 days per year, yielding 1,638 hours of trading time annually. Crypto markets are open 24/7/365, yielding 8,760 hours of trading time annually.

1 year of crypto trading = 5.3 years of NYSE trading
1 month of crypto trading = 5.3 months of NYSE trading
1 week of crypto trading = 5.3 weeks of NYSE trading"


Do you reckon this means applying this formula can yield previously unnoticed parallels or makes comparing them even sillier than before?






Another significant difference is that the stock markets can be closed in times of crisis like 911 to temporarily stop a crash from happening. But there is no central authority to close cryptocurrency markets. Each exchange can do what they want. It is probably more like a free market than the stock market is. Of course there is some government regulation but not to the extent of the US stock market.
gentlemand
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April 23, 2018, 04:28:35 PM
 #12

Another significant difference is that the stock markets can be closed in times of crisis like 911 to temporarily stop a crash from happening. But there is no central authority to close cryptocurrency markets. Each exchange can do what they want. It is probably more like a free market than the stock market is. Of course there is some government regulation but not to the extent of the US stock market.

Good point. And let's not forget that the Chinese government shut down their stock markets to stop them from overheating not so long ago.

The same happening in crypto is impossible but also incomprehensible. They do it with Bitcoin futures though. I wonder if they'll ever attempt to restrict crypto trading to accredited investors on certain platforms so this can be controlled, but of course everyone else will ignore it and head to their fave bucket shop.

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April 23, 2018, 05:03:11 PM
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Yes, the cryptocurrency is traded without interruption and what? If you think you can make money by risking your money, it's a mistake.
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April 24, 2018, 03:34:41 PM
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I wonder if they'll ever attempt to restrict crypto trading to accredited investors on certain platforms so this can be controlled, but of course everyone else will ignore it and head to their fave bucket shop.

I could actually see that happening. It could be the next step after KYC and would certainly be a nightmare scenario. There are going to be a plethora of ways to go around it, of course, but hitting exchanges is a pretty heavy blow considering the state Bitcoin is currently in. This would also further cement the notion that Bitcoin is an investment rather than a serious currency and would hurt adoption in the long run. Let's hope it doesn't come to that.

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April 24, 2018, 05:36:59 PM
 #15

I have never done conventional market trading, but these numbers explain a lot about how different crypto trading is.
If nothing else, you have to be glued to your computer screen 5.3 times longer (all around the clock), and the amount of stress can be enormous.
There are so many trading in the market mostly we trade with goods, mutual investments and etc. but i believe bitcoin has an edge over those because no. it is the "in" thing right now so people would tend to invest on investments that are popular over the world because it means the market is booming, no. 2. with this crypto we can transact 24/7 where in others there are specific time for transactions in each country's time zone. No. 3 it is very timely, with the computer age it is very doable and applicable in all ages their is no age limit, racial discrimination and etc. It very open and give fair opportunities for all😊
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April 24, 2018, 06:31:12 PM
 #16


I thought this was a dead interesting post on an area which is hardly ever picked up on.

In essence it's comparing the amount of actual trading time between crypto and conventional markets. It's easy to forget when we're mired in a 24/7 global market, the old school ones are largely national and operate only during a limited number of business hours which is incomprehensible to yer average moonkid. 


https://www.reddit.com/r/BitcoinMarkets/comments/8e5z5u/this_was_never_even_a_real_longterm_bear_market/dxsqqc2/

"The NYSE is open 6.5 hours per day for 252 days per year, yielding 1,638 hours of trading time annually. Crypto markets are open 24/7/365, yielding 8,760 hours of trading time annually.

1 year of crypto trading = 5.3 years of NYSE trading
1 month of crypto trading = 5.3 months of NYSE trading
1 week of crypto trading = 5.3 weeks of NYSE trading"


Do you reckon this means applying this formula can yield previously unnoticed parallels or makes comparing them even sillier than before?







That is a very unique post to be honest .
I really don't observe a very big reason of comparison between both of them . It works this way only . The internet is actually made for this purpose only , to run 24/7 . The different online shopping sites also works for 24/7 and the normal shops are off for weekends and also have some working hours .
I am pretty sure that the online trading is also not totally active from every part of the world at every time because of the time differences . The world works for 24/7 , its just that there is day somewhere and night at some other place . The online trading is just fulfilling its purpose of being available to different people from different places all the time.                           

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