I Just Saw a Sell Order of 99,147 Steems, 15.9 Bitcoins, Got Gulped in Split Seconds

deanliu (77)in #steem • 7 years ago (edited)

Have some spare time this afternoon and I had some fun watching the live Steem price fluctuating up and down on Poloniex. I am not a (good) trader by any rate, so it was just like watching the stock market, only it is 10 times more volatile!!

The price was going down quickly all the way to around 0.00015 and it did not stay long... Then, the price trend reversed and was pumping fast... when I saw a sell order of 99,147 Steems with price at 0.00016 hanging there, I was like "well, see how long can the buyers break that huge wall..." But...

All of a sudden, Boom!! In split seconds, it was gone!! WOW, this is the largest single transaction I have ever witnessed (but I am sure it is not uncommon as I seldom follow the market for even 5 mins). 99k is like 9 times my total SP... I guess this is how cruel the capital market is... Large amount of money flowing around... No mercy, no feelings, only strategy, calculation and numbers...

I guess I can never be a trader, just don't have that kind of heart. :)

Not really informative. But it is a fun experience to me. :)

By the way, if anyone has seen any posts analyzing the recent price surge, please share with me. Much appreciated.

#exchange #market #life

7 years ago in #steem by deanliu (77)

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nextgen622 (71) 7 years ago

Yeah, day trading is the easiest way to give you a heart attack!

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deanliu (77) 7 years ago

wise words from the @tradeqwik trading contest winner!! :D

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nextgen622 (71) 7 years ago

Lol, you were a winner too. But I'm sure things would have been different if some pro traders joined back then.

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gamer00 (67) 7 years ago

Yeah, trading, that exciting and ulcer inducing hobby. Never again... um... must go check the charts now.

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deanliu (77) 7 years ago

indeed... cannot imagine a trader's life. :)

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andu (58) 7 years ago

Last week I played with the pumps, got a little something but towards the end of the week sold it all, cashed in the profits and holding in BTC atm as I couldn't help not checking on the price changes constantly and was heading towards a heart attack for sure. That;s not my standard MO as I invest in some coins when they're small and then cash in when they grow. I don't day-trade and yes, the alt market is crazy at the moment as many holders start switching their portfolio. @htooms for ex 10x'ed on DASH and moved some over to steem.