RE: BTC almost $4,000!!! Will it hit $6,000 or more? Where do I take profits on my Free coins?
Hi Luc and other more experienced fellow Crypto-traders,
I have a question:
I am currently trading only on Bittrex and do not intend to do multiple exchanges until I have more experience and more funds. I appreciate that there are only so many opportunities in a given day to buy positions and/or sell positions. What is the maximum trading per position before this cannot work? I imagine that I would be able to trade a larger amount of BTC per position in a coin like Ethereum due to its high volume. But with some other lesser Altcoins, I cannot be purchasing, say 10 BTC every time it cracks a base as otherwise I would be causing a surge in the price.
I guess what I'm asking is what volume/turnover of BTC is someone like Luc trading on a daily basis?
I've seen Luc say before that he just tries to fit in with an average buy for those smaller volume type coins. With many of the smaller coins you just don't want to stand out and you should be fine. If the coin itself has a volume of 50 bitcoins a day then yea putting 10 in as a buy could be a risky proposition. Putting 1/4 of a bitcoin would probably be just fine, but again it all really depends on the coin, the point to be taken is with the lower volume coins to just blend in with the other average buyers.
Thanks for answering for me.. Thats exactly right, blend into the normal action.. That's why all the big trades need to be in BTC and ETH and larger coins where you can execute large trades without effecting anything
How do you calculate "normal action" for a coin? In other words how can I determine the maximum amount I can put into a trade without effecting anything?
Look at the lvl2 data, compare the bis and the asks. You can also look at the market dept for visual conformation, although I find it only helps to identify where walls exist.