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Author Topic: Is £2,500 too low for a market maker transaction?  (Read 244 times)
Jet Cash
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December 24, 2018, 03:15:35 PM
 #1

I'm tempted to submit a market maker transaction for a Bitcoin purchase at £2,500 ($3,200). Do you think that is too low, and Bitcoin won't get down that far over the holidays?
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December 24, 2018, 03:22:38 PM
 #2

I don't understand technical analysis and stuffs that much. I never seen the price to follow any analysis. They are always correct after the event LOL

Anyway, Bitcoin (technically entire crypto market) needs correction and this time it should be a bullish one. Let's see how far it goes. I am positive by the way.
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December 24, 2018, 04:10:44 PM
 #3

I'm a long term bull, but I want to "buy the dip" for my investment project. I read the TA, not because I think it can be used directly to trade, but because I think the whales use it to manipulate the market. All the good buying slots seem to arrive when I am asleep, so I thought I would try submitting a market maker offer to try to take advantage of a drop.
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December 24, 2018, 06:24:35 PM
 #4

I'm a long term bull, but I want to "buy the dip" for my investment project. I read the TA, not because I think it can be used directly to trade, but because I think the whales use it to manipulate the market. All the good buying slots seem to arrive when I am asleep, so I thought I would try submitting a market maker offer to try to take advantage of a drop.

I Am also not an expert in technical analysis, but I want to Express my opinion on this matter. Today we have once again seen how the price of bitcoin for the third time could not overcome the level of support of 4200 dollars.
In the market of altcoins there is euphoria and coins grow by 20-30 % every day giving hope to the last hamsters in this market.
I think in the near future after such a rebound we will see an even deeper decline and the fact that bitcoin cash, Ethereum, neo and ripple scored these days will merge into the pit.
I think the price of bitcoin should reach at least 3000 - 2500 dollars, so I'm also waiting for this time.
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December 25, 2018, 12:43:34 AM
 #5

I think the price of bitcoin should reach at least 3000 - 2500 dollars, so I'm also waiting for this time.

Even if it reach $2500, how we can become sure that it will bounce back from there or it will not further dip?
Few days ago , we all convinced $6000 is a new low and we have good support around $5900 to $5800. (I will not able to find that article now but it was in some established crypto site).

so I will say , do not hurt yourself and buy that much only that we can afford to lose.

PS: No TA, pure gut feeling, $2500 if reached, will be great buy but still it is not a financial advice.
    : I feel $3200 will be breached in coming days.
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December 25, 2018, 11:01:26 AM
 #6

It's starting to look like a sensible option. I've been price averaging with small acquisitions, and I'm still in profit at the current levels. I'll pick up £100 for the coin club when I can get onto the main notebook. It's worth it for the blog entry anyway.
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December 25, 2018, 02:39:41 PM
Merited by suchmoon (4), naturerock (1)
 #7

I think it is foolish to wait for an arbitrary price that you set for yourself.  Use a portion of your money to buy right now and save some cash in case it happens to dip more.  Being too greedy by waiting for cheap prices is the same as holding onto the top waiting for a higher price.

My gut tells me we already hit bottom and $3200 will not be hit again.
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December 25, 2018, 05:02:51 PM
 #8

I think it is foolish to wait for an arbitrary price that you set for yourself.  Use a portion of your money to buy right now and save some cash in case it happens to dip more.  Being too greedy by waiting for cheap prices is the same as holding onto the top waiting for a higher price.

My gut tells me we already hit bottom and $3200 will not be hit again.

There are fools on reddit that actually think bitcoin will hit 2k or even 1k, I don't know if they are trolls or they really believe this nonsense.
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December 26, 2018, 04:55:48 PM
 #9


My gut tells me we already hit bottom and $3200 will not be hit again.

I've been price averaging and buying a few Satoshi as the price drops. As I stated, I'm a long term holder, so I'm not too bothered by the current bear market. My problem is that when I buy, I buy in the candles, and I always miss the best deals in the wicks. I started this thread to discuss the method of trying to catch the wicks, which seem to be short lived and arrive whilst I am asleep. We may not see $3,200 as a closing price, but we may see it in a wick if a bull squeeze develops.

The other advantage is that I believe that you avoid paying a commission on coinbase if you are a market maker.
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December 26, 2018, 05:41:28 PM
Last edit: December 27, 2018, 08:14:17 AM by odolvlobo
Merited by Jet Cash (2)
 #10

I've been price averaging and buying a few Satoshi as the price drops. As I stated, I'm a long term holder, so I'm not too bothered by the current bear market. My problem is that when I buy, I buy in the candles, and I always miss the best deals in the wicks. I started this thread to discuss the method of trying to catch the wicks, which seem to be short lived and arrive whilst I am asleep. We may not see $3,200 as a closing price, but we may see it in a wick if a bull squeeze develops.

The other advantage is that I believe that you avoid paying a commission on coinbase if you are a market maker.

If you are truly long term, then short term fluctuations are mostly irrelevant, especially if you are dollar cost averaging. So I wouldn't worry about it.

A quick note about terminology:

A "market maker" is a special kind of authorized trader that provides liquidity for a market. See https://www.investopedia.com/terms/m/marketmaker.asp

In a "maker-taker" fee structure, placing an order in the order book gets a lower fee. Exchanges do that because it promotes liquidity. See https://support.kraken.com/hc/en-us/articles/360000526126-What-are-Maker-and-Taker-fees-
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December 27, 2018, 12:24:46 AM
 #11

Technically speaking if we are ever going to see 3200$ then you should place your buy order at 2900$-3000$, as the nature of the market waves.
if we do not break and close above, 4500$ then the odds are we making a lower low which would be anywhere from 2900$-3000$.

so it is either you buy now or place your order at 3000$ to be safe.

also it would be a much better idea of diving your entries starting from now , then reload at every low.

Good luck.
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December 29, 2018, 09:30:52 PM
Merited by Welsh (5), Jet Cash (5), upupup (5)
 #12

My problem is that when I buy, I buy in the candles, and I always miss the best deals in the wicks. I started this thread to discuss the method of trying to catch the wicks, which seem to be short lived and arrive whilst I am asleep. We may not see $3,200 as a closing price, but we may see it in a wick if a bull squeeze develops.

The other advantage is that I believe that you avoid paying a commission on coinbase if you are a market maker.

I also think this is less of a concern for long term holders but it is still good to get the best buy you can. It is also much harder for long term holders because they don't tend to pay near as much attention to the market as a daytrader. My perspective as a daytrader..

I will like to reply to this because I think that making good buys has been my greatest strength/skill in trading. Not so much selling the top.
As they say, "you make your money when you buy".

To me a good buy is to get in at a place where if the market turns against you you will have ample opportunity to get back out of it with minimal losses. 1%-2% or break even. That is what I am most concerned about when I trade. What is the risk VS reward? If I can buy in a place to minimize my risk then it is much easier to take advantage of an opportunity for reward.
If the likely risk is only 1% then a 1.5% reward opportunity is good.
If you are buying BTC to hold what do you feel is your risk VS reward? Do you think that BTC is going back to $20k or to $100k? Then your risk doesn't change much from buying at $3500 VS $3200 does it?



How to make good buys? Their are pretty much 2 ways that I put my faith/risk in, and 1 of them you absolutely have to be there and have been there for a while.

The first is market momentum and you have to be there to see it and have been there to know what it looks like.
If you haven't stared at the books for 8 hours a day for the last week so you know what movement looks slow, average, or fast, then it will be hard to recognize momentum when you see it unless it is very obvious.
When you see the market move down faster than average then their is a good chance that the momentum of the movement will overshoot where it will settle.
So if it starts moving down fast watch closely. Watch for the downward movement starts to lose its speed, this is where the momentum carries it low, then when it is almost gone put your buy in right above the next big support wall, where the downward movement is likely to run out of steam.
That is how I "catch the falling knife".
It is the same really when you are trying to sell but upside down. Put your sell in where you think the upward movement is likely to reach but close to where you think it is going to stop.

This also does a lot to minimize risk because it gives you opportunity to get out.
If you buy right over that wall you didn't think it would go through, and then the market is beating down that wall, you can just sell back into the wall yourself right before it breaks and lose very little.
It is usually a good trade entry if you buy or sell just as a wall gets broken because then usually it will go for a run once the wall is down, to the next wall..

But you have to be there to see all of that and know what it looks like on that particular market..

The other way that you don't really have to be there for is to just place your orders infront of walls. Hail mary orders.

You look in the books, or depth chart, and put your orders right infront of other massive orders or areas thick with a lot of orders, because if a spike happens it is likely as far as the spike will reach.
It is easy for a spike to fly through areas of low resistance but much harder to move through areas of large support.

Price movement amount isn't really what matters, it's more about how much volume of orders can be gobbled up.
I think it is mostly wrong to say something like "XXcoin will move up/down 10%" as opposed to "XXcoin can eat 100BTC of orders in this direction"
If it is going to eat 100BTC of orders with its current volume/momentum, that could only be 1% if their is 100BTC of support before a 1% change, but if the books are light for some price movement distance and their is only 50BTC of resistance for a 10% change, and then 100BTC of resistance for the next 2% change, then you can conclude that the market is going to eat the 50BTC it takes to move 10% and then stop at 11% where it takes another 100BTC to get through.
So you want your order in at the bottom of the low resistance area to get the best price, but at the top of the high resistance area where it is likely to stop so your trade is likely to hit.

If you want to put in orders to buy BTC at a good price, increase your chances of getting a good price, then put your buy order(s) at the bottom of low resistance and above where the resistance gets high. Then you can check in the morning and see if your orders hit Smiley

One of my best hail mary orders that hit was on DRK.
It was like 55 something and I put my orders in to sleep at like 36 right above some massive support. And that shit hit! When I woke up it was like 48 something and I took my profits..
I put my order right in the same place to sleep that next day, and I'll be damned if it didn't hit again and was right back in its usual trading range for me to take my profit on it..


The other advantage is that I believe that you avoid paying a commission on coinbase if you are a market maker.

This is true and why I hate trading CB. it makes for virtually no spread and the maker bots are extremely aggressive and don't leave their orders sit very much at all.

If you want to buy on CB I think you be well served to look at the books on all of the highest volume exchanges where the resistance really is and is more likely to stay, and place your orders on CB accordingly. Not just the depth on CB but the depth of the whole market..

BTC trading is hard because it is split up in so many markets. I have seen where the massive support was on finex and the massive resistance was on stamp.
If you were only looking at finex you wouldn't understand why the price kept stalling where their was no resistance, but the resistance was on stamp and you would have to look there to see it and watch it finally break through so all of the exchanges could go up.

I don't really understand how the arbatrage bots work and make profit, but they are damn good at keeping all of the exchanges very close, and they don't necessarily show themselves in the books by simulating the support/resistance, they just act on the current price.. I think.

I've put down some volume on CB and decided I didn't like it because of the way the fee structure make the bots behave.
I really really really loved trading huobi with their 0% fee and optional leverage both ways, but those days are gone Sad

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December 30, 2018, 12:41:19 PM
 #13

As they say, "you make your money when you buy".

This is so true. I used to own a computer shop, and I started to pic up corporate customers, because I was able to offer low prices. I managed this by trying to pay suppliers 30 day accounts in 7-14 days. Everybody told me I was stupid, and I should take all the credit I could get, but I usually got 1-2% off the standard distributor price, and I often got special deals. 2% doesn't sound a lot, but when you are selling to corporates, it can be the difference between a sale or no sale.

Buying for long term holding is not so much about the profit per unit, but about increasing the number of units you can buy for a given sum. This is why I am starting to watch the dips for buying opportunities.
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December 30, 2018, 08:09:01 PM
 #14

I think we'll probably dip down to about £2600 but beyond there, I honestly have no clue. We could go down and shoot up after that point or that could be the shoot down itself.

or we could just shoot down and keep going...
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December 30, 2018, 10:54:58 PM
Merited by Jet Cash (2)
 #15

I think we'll probably dip down to about £2600 but beyond there, I honestly have no clue. We could go down and shoot up after that point or that could be the shoot down itself.

or we could just shoot down and keep going...

the way I look at it from here, I either lose a very nice car or gain financial freedom, retirement, "fuck you" money.. (I'm frugal and low maintenance)
I think this reward outweighs the risk..
I'm looking at putting a decent chunk into Grin soon too for a rare long term hold..

I think 50% we may have hit the BTC bottom now..
I jokingly posted a while ago in wall observer..

Too many pages..

I got my $3k number by extrapolating the ratio of the last ATH to the last ATL before the new ATH = the new post last ATH ATL = bout $3k ish mmkay..
1200-150 =about 20k-3k ish maybe 2.5k
1200/150=8  === 20k/8=2.5k


IDK about you but I don't have much soft feelers for the centralized mining cartel..
Doesn't hurt my feels 1 bit if they lose money for 6 months or so. Fuck them.

BTCBelievers will ensue the network continues. Price has little motivation on nodes and their will still be plenty of hash.
Then we will float undervalued until the next pump to..

20,000/1200 = X/20,000 = 333,333.333333 kek has spoken

hodl for 300k

And that is basically the way I feel about the future possibilities of BTC.
A bottom of $2500 at the lowest isn't out of the question for me but it does not have to go that far. $3200 is close enough, and what is another $700?
If it does go below $2500 I will be forced to reconsider. 50/45 it goes to a bottom of $2500 and 5% it goes below that..



As far as the thread title I'm pretty sure you can get the 0% fee for any maker order above the minimum trade size, which is probably like $20 but I haven't been on CB exchange in a while..
So even if you are playing with a VERY small amount you may as well practice getting your maker orders to hit if you want that 0%, get in infront of the closest walls if you want to buy near the current price..


I don't see where your order being too small would be a concern. (kinda sounds like "too small of an amount")
If anything, I think orders being too large is a bigger concern (if you are actually trying to get the order to fill), because large orders will push the market away from your price and you will never fill. Not much of a concern for most of us on BTC/fiat markets but it is on small alt markets.
In my experience the smaller the amount you are trying to trade with the easier it is because the rest of the market doesn't even care about your orders when they are small.

Their are tons of small markets where you can flip $10 back and forth across the spread all day long and make huge % gains, but you just can't do that with $10,000 because you will push the market. The bigger amount you are trying to trade the bigger the market you need to trade on so you can actually fill your orders (slippage), and the bigger the market the better your competitors are and the less spread and usually less volatility to take advantage of..
It is much easier to turn $10 into $100 than it is to turn $10,000 into $100,000 because you are too big for all the easy target markets.

If you are playing with a relatively small amount I'd say you are at an advantage as far as making % gains.
$2500 is like pennies on a fiat market.
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December 30, 2018, 10:58:10 PM
 #16

Having looked at the charts, there's been a dip in January time frame for the last four years. That combined with the fact that there hasn't been the anticipated run, I'd say we are going to experience a dip. I am not an expert, just a guy looking at history.
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December 31, 2018, 08:55:26 AM
 #17

It was the price level rather than the transaction size that was my concern/interest. I decided to play with £100 units, and I won't use gearing. I will also buy into possible bull markets rather than sell into bear markets, so my loss potential is negligible in my opinion. However, the trading gains are likely to be fairly limited. Another advantage is that I won't have to spend all day watching price movements.
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December 31, 2018, 10:46:31 AM
 #18

Technically speaking if we are ever going to see 3200$ then you should place your buy order at 2900$-3000$, as the nature of the market waves.
if we do not break and close above, 4500$ then the odds are we making a lower low which would be anywhere from 2900$-3000$.

so it is either you buy now or place your order at 3000$ to be safe.

also it would be a much better idea of diving your entries starting from now , then reload at every low.

Good luck.

I think that price will be 3000-4500$ avg and that it will grow little every month and that it cant go to smaller price then that.I dont expect any to the moon because to make price bigger you need a lot of new fiat money in crypto world,also there is more and more bitcoin supplies in market what mean that there will be sometime less demand then suppies and sometimes more demand then supplies and also panic sellers will always stop bigger bull run.It was easy to for bitcoin to go from 0.01$ to like example 100$ but it is harder to bitcoin to come from 3800$ to 20000$ ,that is much harder.Bitcoin will probably grow faster  when some bigger markets accept bitcoin or when demand start to grow but I dont expect this soon and I dont expect even then bull run.

You can see in this photo my avg bitcoin price prediction:


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