All posts made by jski in Bitcointalk.org's Wall Observer thread



1. Post 2105570 (copy this link) (by jski) (scraped on 2020-04-04_Sat_10.58h):

Quote from: fitty on May 11, 2013, 01:40:26 AM
lol that's what i'm seeing.. people selling below 118   and the ask price sticks to 118, so anyone has to buy them coins back more expensive

i want to buy in but i'd bring price over 120$ with  massive slippage..
put some asks up there people!..

Just in case you weren't trolling and because we have a lot of new people on the forum, I'll share some pro tips to deal with slippage on both sides.

For people who have no idea what he's talking about, lets say he has 100k USD he wants to use to buy Bitcoins. The price is at $118. If he puts in a market order for 100K, the order will end up buying coins at $118, $119, $120. So instead of getting in at $118, he's in at $119+. The ticker says $118 but he's forced to pay $119 to get back in. So that sorta sucks.

You only want to use market orders when you want to push the price up or down. Sometimes you'll pay the extra when buying (from slippage) because people will see a big purchase, more people might start buying, you move the market slightly higher, maybe start a rally, there's some built in short term protection for your BTC. When you market sell, you push the market a little lower and sometimes get panic sellers to join in. If you're not trying to move the market up or down you really shouldn't be using market orders.

But now you're thinking, I don't have all day to spend my 100K-500K USD on coins, I have shit to do. Fuck slippage, I want to get back in the game quickly. There's another option.

You want to place fairly big bid/ask walls near the edge. Preferably, right on the edge. The reason these walls get taken down so quickly is because the other side is also concerned about slippage. A 100k bid wall right on the edge, means people on the ask side can sell a bunch of coins with no slippage. Normally selling a bunch of coins you'd end up selling coins at $118, $117, $116 as you worked your way down to fill the order. By putting the wall right on the edge, you're letting everyone know they can buy/sell a fairly large amount and not have to deal with market orders (no slippage).

So if you're buying/selling a large amount, break it up into a few decent sized walls, put it right on the edge, they will get taken down (filled) very quickly. You can get in with your 100k USD right at $118, giving you a little lower price point. I see a lot of people getting impatient, forcing themselves in at a higher price when it's really not needed. You don't have to stick to limit orders $1-$2 below the ticker that can sometimes take hours to get filled. You don't need market orders. Go to the edge, get back in when you want to get back in, and go from there. You save time, get in more quickly, and sometimes the timing of when you get in is more important than the price.

In wonkytonky's case, a few bid walls right on the edge would have gotten filled extremely quickly, and slippage would never have come up. If anyone has different strategies they use to get in and out with large orders feel free to correct me.  Grin


Thanks for the lesson Fitty cent Smiley now I understand what he meant.



2. Post 2167660 (copy this link) (by jski) (scraped on 2020-04-04_Sat_10.59h):

Quote from: prof7bit on May 16, 2013, 11:12:45 AM
Another noob question:  Why is Mt.Gox<->BTC-e price difference so great?  Obviously something's making arbitrage unprofitable, but what?

From what I have read the arbitragers were using dwolla to transfer between MtGox and BTC-e

They were using BitInstant until recently BitInstant has temporarily halted transfers to BTC-e.



3. Post 2412719 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.03h):

3000 BTC ask wall just appeared at 108.50!!!!



4. Post 2412765 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.03h):

I think the weekends determines what happen for the week. So keep your ear to the ground to listen which way the stampede is coming but right now these walls are closing in on both sides and I am getting claustrophobic...LOL



5. Post 2412811 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.03h):

3k wall removed now I can breath again...LOL



6. Post 2412976 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.03h):

Good for you, those 105 to 106 walls look like an avalanche!!!!!



7. Post 2476645 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.04h):

Its not the same, adamstg is not claiming he is dumping 5k btc



8. Post 2668399 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.09h):

I can't believe a small sell wall at 70.00 is holding this upward trend at bay  Huh



9. Post 2668452 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.09h):

Quote from: fulepp on July 06, 2013, 04:08:55 PM
I can't believe a small sell wall at 70.00 is holding this upward trend at bay  Huh

That's because it's not an uptrend

why ppl would buy @70 when most of the ppl predict 50's? that's a huge difference and it seems the trend is showing to this direction...

Well people just ate it, either they think its the third bottom or a right price to re-up.



10. Post 2678130 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.09h):

Quote from: humanitee on July 08, 2013, 01:42:15 AM
If my bank account isn't verified with Coinbase can I still reserve coins at this price while they verify it?



NOPE!!!!



11. Post 2700258 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.09h):

Would you believe the 76 bid wall on bitstamp is what driving this rally. Bitstamp is driving the daily highs before mtgox.



12. Post 3116550 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.15h):

Glad someone else pointed it out too, I thought the 115 was a typo..



13. Post 3116766 (copy this link) (by jski) (scraped on 2020-04-04_Sat_11.15h):

Quote from: justusranvier on September 09, 2013, 08:22:27 PM
That dump lasted just long enough to move the Coinbase buy price, right exactly when I was about to buy anyway, so I managed to get them at $115.23.

I tried to do the same thing but I refreshed before I bought and the price jumped back to 19.90. You lucky son of a gun...LOL