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RE: You have a rare opportunity to trade with us, our chatroom has over 1,740 members.
Hi Luc, still using your method successfully and about to take bigger trades. If you ever have a minute to answer this, it would be great: On top of the base/panic drop strategy, is it a good idea to use the order book to anticipate when big money is coming in?
I sometimes see buy orders for $10k or 20k waiting to get filled at a certain price. Technically they would bring the price up, right? But they can also be cancelled so, is it reliable? I'm curious how often you use this information in your decision-making. Many thanks
No.. Level 2 on the big coins is almost useless for us. It will hurt you to make decisions based on level 2 because there are too many things happening, like large bids and asks that disappear as soon as the market gets close. And the coins are being traded on multiple exchanges with completely different order books.. Best to use the chart for your decision making with the big coins
Got it! Thanks so much!
Hi Luc, hope all's well today! I'm just about to move into a $2k trade and excited! If you've got a minute, I would love to know:
Do you put more trust in a base where the big bounce up is preceded by an equally big drop? Like a "V"? Or is a big spike up from that base enough (even if it is not preceded by a big drop)?
Once you enter a trade, do you immediately place your sell limit order, or do you prefer to watch it go up and sell manually?
Many thanks
Jeremy