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    [Daily Discussion] Tuesday, October 01, 2019 Bitcoin Markets

    October 01, 2019

    [Daily Discussion] Tuesday, October 01, 2019 Bitcoin Markets

    [Daily Discussion] Tuesday, October 01, 2019

    Posted: 30 Sep 2019 09:05 PM PDT

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

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    [Altcoin Discussion] Tuesday, October 01, 2019

    Posted: 30 Sep 2019 09:05 PM PDT

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

    Thread guidelines:

    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
    • No discussion about specific ICOs. Established coins only.

    If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

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    futures contracts are optimal for manipulation

    Posted: 01 Oct 2019 08:56 AM PDT

    Hello

    In this link I have read this:

    https://www.forbes.com/sites/billybambrough/2019/09/25/striking-bitcoin-research-points-to-price-manipulation/#1674ad0d5c2b

    ​

    "These futures contracts are optimal for manipulation. They are settled in dollars and not in bitcoin. The price for the settlement is determined by the bitcoin price in the underlying market. Thus, it is never actual bitcoin that change hands, and it is just an overlying market traded in dollars," Schei explained.6 giorni fa

    ​

    My question is : why the fact that it is never actual bitcoin that change hands, and it is just an overlying market traded in dollars let the the manipulation be easier?

    ​

    Could you explain to me the mechanism of the manipulation trought futures contracts in a simpler way to let me understand please?

    submitted by /u/luchins
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    What do you hate/love automated trading software for?

    Posted: 30 Sep 2019 12:42 PM PDT

    Hi :) I've been developing an automated trader for last 2+ years and what I started with is far away from I ended up with.
    I'm all ears to hear from you how you use software that automates trading and if it helps you. Maybe you've got totally different point of view.

    I started 2.5 years ago with excitement willing to press enter, lay down and just earn money with automation .. and I learned the hard way that there is no point in creating software that automates making decisions. I was just loosing too much money.

    The market is so unpredictable that cost of supporting software with sensible prediction rate is just pointless.
    Instead, there is point in automating execution of decisions made by human.

    So, how to automate executing decisions? Example

    Imagine the following scenario.

    At the beginning your wallet balance just before running automated trading software:

    • TRX: 25030.38650000
    • EOS: 61.18877000
    • BTC: 0

    25.09.2019 - add automation for putting order when price meets given conditions

    • create sell order for 20% of TRX when price exceeds 0.00000165 BTC
    • create sell order for 30% of EOS when price exceeds 0.0003800 BTC
    • create buy order for TRX when the price drops below 0.00000158 for all available BTC
    • create buy order for EOS when the price drops below 0.0003500 for all available BTC

    That means that software would operate on 2 different currency pairs to gain more EOS and/or TRX (whichever is going to meet prices criteria first) and will buy EOS and/or TRX even If there is 0 BTC in wallet at the moment of turning on the automation for above currency pairs.

    27.09.2019

    What would happen? 20% of TRX would be sold.

    Rest of orders would be still waiting to be created when prices change to meet the criteria. It might be possible these orders will be never created because market will not reach prices set few days before.

    That means using software automating the trading need to be revisited and adjusted to the changing market if you think the prices won't change to meet your criteria set at the beginning.

    ​

    My point of view that when using software automating trading what you gain is scaling

    • how many currency prices pairs at the same time you hunt for
    • on how many exchanges and API keys
    • how much time you're given back
    • how quickly software will reprice the order unless it's out of range for your pricing criteria so your order will be filled
    • but it won't let you free from thinking at all

    ​

    That's my experience, mostly from programming (creating software) point of view. I know there are hundreds better traders here and I'm curious

    How did you benefit using automated trading software? Did it really help long term?

    What were your expectations when started, how did your expectations change later?

    In what cases did it actually help you gain more cryptocurrencies?

    submitted by /u/mgrzaslewicz
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