algos are part of why I mostly quit short term trading in the stock market a year or so ago. They sure do make trying to predict price action a lot more difficult.
algos are part of why I mostly quit short term trading in the stock market a year or so ago. They sure do make trying to predict price action a lot more difficult.
Yes, I hate it, too. Had to switch my trading style from big positions with small SL, to small positions with 50-200p SL... Algos suck.
Unfortunately it seems these greed driven wall street/mainstream finance jackals are getting in to ruin things for cryptos. We are already having BTC futures. Who knows how that would distort the market. Plus cryptos are highly volatile. So who knows what would happen with all these manipulations going around. Trading should be driven by sound decision making. Not making minor percentages based on a goddamn algorithm.
Greed is capitalism sans sensibility.
The algos and future traders in cryptos are a minority in cryptos yet, so their influence should be very small. This might have changed in 5 years.
It might not even take that long. Hopefully they'd stick to BTC and maybe ETH untill Bitshares/EOS and few other great projects send the bankers home without a job.