On stagnant trader only days.........

[MatTheCat]

On stagnant trader only days like today, it becomes increasingly obvious that Bitcoin exchanges are corrupt places.

Been watching the trading and trying to partake in a few trades on Bitfinex and I can tell you, it is not like playing a market, but like playing a fruit machine that is designed to ensure that the player loses money.

It is a game of sweep up the margin calls on there today complete with monster liar walls pushing lemming bids up and down the few fractions of a percent required to push people out of their positions and empty a few dollars more into the exchange koffers.

Of course, it may not be exchange insiders who are tipping margin calls into their pockets, but I would suggest that if someone was going to place 500 strong liar walls (it was a 250 liar wall to begin with but that wasn't scary enough, the 500 BTC liar wall was) on the Bid side, in order to scare people out of their positions, I would suggest it would be a much comfortable experience for them if they had inside access to exchange activity in order to both be reassured that no whale was going to smash a shit load of coin into their wall, and to know where the margin tipping points are likely to be, in order that their bot can properly evaluate risk v reward.

Bitfinex has felt today like there was just me and a handful of others playing around with a bit of money, having the system sweeping the market this way and that, which ever direction resulted in most people being squeezed out their positions.

Lesson learned. Only trade in a market where the momentum is such that it is too dangerous for the house cheats to try and cheat you.

I dont give a rats ass what anyone says.....most of these Bitcoin exchanges are corrupt to one extent or another.

[Ibian]

Don't you ever get tired of yammering on about that?

[Undone]

Want to swim with sharks and wrestle with vipers? Trade Bitfinex!

[ElectricMucus]

Just stop using leverage, everybody has warned you about it. When the market is stagnant do something else.

[MoreFun]

How do you trade if a few dollars move will put you out of your position?

Anyway there are also market makers and heard also about price stabilizators with big wals on both sides.

[MatTheCat]

Don't you ever get tired of yammering on about that?

No. If it is going on, which it probably is, then it should be repeated often.

Another 500 strong liar wall pushing the bids up as I speak, so I guess their must be net short positions on Bitfinex at the moment.

Is it even 500 BTC?

Or is it just a magical 500 number that will vanish the very first sign of it being traded into?

How do you trade if a few dollars move will put you out of your position?

Anyway there are also market makers and heard also about price stabilizators with big wals on both sides.

Yeah...I remember those massive cliff faces on each side of the bidding wall on Stamp, around the time of the NY hearings on Bitcoin.

Just stop using leverage, everybody has warned you about it. When the market is stagnant do something else.

Meh...lost a few pennies....just pisses me off when I see that these trading places are obviously being tampered with in a way that they shouldn't. Exchange outsiders playing a very risky game just in order to sweep a few coins more into their wallets, or exchange insiders who know for sure that the odds are stacked heavily in their favour?

[MoreFun]

I have seen them two days ago on bitfinex or stamp. They were Opened at the same time.

[MatTheCat]

I have seen them two days ago on bitfinex or stamp. They were Opened at the same time.

A lot of Bitfinex trades are routed through Stamp at a dollar or two below the Bitfinex spot price. i.e. If a Bitfinex order is triggered on Stamp, Bitfinex will give the trader a price of say $665, although the order would have went through Stamp at $663.50 or something like that.

[ElectricMucus]

Meh...lost a few pennies....just pisses me off when I see that these trading places are obviously being tampered with in a way that they shouldn't. Exchange outsiders playing a very risky game just in order to sweep a few coins more into their wallets, or exchange insiders who know for sure that the odds are stacked heavily in their favour?

Sorry to bring it up,
You are at the "anger" phase of the phases of grief, when you reach the acceptance phase you either:

Get a forex account on a reputable broker and get your leverage fix there
and/or
Trade bitcoins the old fashioned way.

[MoreFun]

I have seen them two days ago on bitfinex or stamp. They were Opened at the same time.

A lot of Bitfinex trades are routed through Stamp at a dollar or two below the Bitfinex spot price. i.e. If a Bitfinex order is triggered on Stamp, Bitfinex will give the trader a price of say $665, although the order would have went through Stamp at $663.50 or something like that.

I was talking about bid and ask wall of a similar size at the same time - not on both exchanges.

[Dalmar]

Don't overtrade. I reserve margin trading mainly for breaking news, otherwise you will just get fucked by sharks.

[MatTheCat]

Don't overtrade. I reserve margin trading mainly for breaking news, otherwise you will just get fucked by sharks.

I know this and should know better. But as with my complete recognition and acknowledgement that impulsively made trading decisions will nearly always go against you, I just don't fucking learn.

Of course, trade on dead days and you will be fucked by sharks who have the weight to tease the market in one direction and then boss it in another. But, from the action that I am witnessing I strongly suspect that the market movers are what might be termed as exchange insiders. This would be a dangerous game to play unless someone had assurances that they could avoid any prospect of some whale dropping a shit ton of coin right into their liar BTC bid '(if it is even BTC at all and not just exchange allocated credits).

[segeln]

I just don't fucking learn.

Bonus vir semper tiro

[edok]

The answer is hodl.

[cosmofly]

Full manipulation markets are exaushted no fresh cash

[Torque]

Yeah, God forbid that the price of bitcoin actually stabilizes so it can be used as a viable currency.  Who would actually want that anyway. 

/sarcasm

[MatTheCat]

Yeah, God forbid that the price of bitcoin actually stabilizes so it can be used as a viable currency.  Who would actually want that anyway.  

/sarcasm

Only:

Off Radar Money Changers
Black Market Participants
Attention Seekers

and the damn fucking greedy give two hoots about Bitcoin.

If it isn't turning a nominal USD profit then it will get sold off. What we have is not a stable market. But greedy bastards holding out waiting on another big price surge. If it doesn't kick in, then increasing amounts of Bitcoin will start hitting the market and it will go down in value, right down to where the greedy with a longer term outlook think it is a good price, but they too have a tolerance thershold which will be broken if Bitcoin doesn't rise in value and turn them a buck. Don't be fooled by the Bitcoin idealists. All of them early adopters to a man. It's easy to be idealistic when you are 10000% up, perhaps not so easy when you are one of the unfortunates who was convinced by Bitcoin Nutter to go all in at $800, and that is if you didn't exit the market in the $500s, which you probably did.

If Bitcoin is not going up in value, then it must go down in value. Aside from appreciating in value, Bitcoin has no use to 90% of those holding it.

[HairyMaclairy]

Yeah, God forbid that the price of bitcoin actually stabilizes so it can be used as a viable currency.  Who would actually want that anyway.  

/sarcasm

I would prefer it not stabilise at $ 666. Something higher would be nice.

[MatTheCat]

Yeah, God forbid that the price of bitcoin actually stabilizes so it can be used as a viable currency.  Who would actually want that anyway. 

/sarcasm

I would prefer it not stabilise at $ 666

Bitcoin likes $666.

Crypto-spawn of Satan.

[TERA]

OP's mistake lies in the title of the thread. Why are you trading on stagnant days? I only like to trade during volatility+volume.