Gridcoin trading strategies
I'm sure most of you are aware how stable crypto prices have been over the past month. BTC <--> GRC volumes have been relatively low as well.
Because of this, it may seem like there isn't much incentive to actively trade. On the other hand, trading metrics like volume, bid-ask spread, market depth, etc play an important role in how people perceive the quality of a coin (more important of a role than we might wish, but that doesn't change the fact). So, I've been trying to keep up my Gridcoin trading strategies despite the slow market.
So far this month, my trading volume has been about 255000 GRC (approx. $2550) on Bittrex, and 31000 (approx. $310) on southXchange. Not a ton in view of the entire market, but still something. I've made a modest profit too. My strategies mostly consist of arbitrage between southXchange and Bittrex, and also working the pretty substantial spread on southXchange. Large buys/sells on Bittrex provide another opportunity to make a profit.
In the end, I feel productive contributing to Gridcoin's liquidity.
What are your guys' trading volumes? Any strategies that seem to work well?
Oh, so you are the hidden market maker? Keep going! I think it is a great importance to keep volumes up and an arbitrage on the existing exchanges... this is good for investors, and in the end to all of us!
hahaha I don't know if I'm quite a big market mover. There seem to be other traders with a little more clout than me … e.g. you can be sure that 1.8 million Gridcoin buy order right now on Bittrex isn't mine..!
Still, I like to think my contribution is at least helping make the markets more efficient.
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I trade at southXchange as well, unfortunately very small amounts. I buy below: BTC 0.000002, but would love to sell above BTC 0.0000025 BTC or USD 0.02.
Although I think that selling below BTC 0.000003 BTC or USD 0.03 does not reflect the value of the coin. This price still does not cover my electric bill, but will it ever?
Personally, I think we need that one of two things to happen, that the price of GRC goes up:
Or:
yeah, I agree with you that Gridcoin is currently undervalued. On the other hand, that fact doesn't matter for the kind of trading I'm doing, i.e. trading with a fixed quantity of GRC. Because the quantity is fixed, my trades don't move the price up or down on average. So when I sell below 200 satoshi, that doesn't mean I personally value GRC below 200, just that I'm riding along with the rest of the market to work the spread.
And yeah, I think actionable ideas for increasing Gridcoin's real-life value are important to be working on right now. I like your ideas and have heard similar thoughts from others as well.
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