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Bitcoin Thread - 2018

saor

Honorary Master
Joined
Feb 3, 2012
Messages
16,760
Thing is I dont kniw how the exchanfe on Luno works. I feel compfy with the instant option. I still make something although less with the fees.
A very brief intro in the video below. Doesn't really mention fees, maker / taker etc.

[video=youtube;WeLDwQ15nFE]https://www.youtube.com/watch?v=WeLDwQ15nFE[/video]
 

L10Yn

Well-Known Member
Joined
Oct 20, 2014
Messages
266
Thing is I dont kniw how the exchanfe on Luno works. I feel compfy with the instant option. I still make something although less with the fees.
If you wanna learn, gotta get out your comfort zone and prepare to make mistakes while you learn
 

saor

Honorary Master
Joined
Feb 3, 2012
Messages
16,760
So if the buyers bids are always lower than the lowest seller's ask how can one get a match ?
Buy when the price is coming down (you define the price, someone sells to you).
Sell when the price is going up (you define the price, someone buys from you).
 
Joined
Feb 6, 2018
Messages
1,563
Buy when the price is coming down (you define the price, someone sells to you).
Sell when the price is going up (you define the price, someone buys from you).
But your order will only be matched somewhere in the near or distant future because there's always an immediate spread of at least 1 as far as I can see. Am I right in saying that?
So if the current price is R102201 and you want to buy at R102100 the lowest ask might only be R102202 or more.
So you'll have to hold.
It also seem to me that you might get stuck if you had a buying order and the price drops so far down at a speed where you would have liked to stop the existing order and place another one further down.
 

saor

Honorary Master
Joined
Feb 3, 2012
Messages
16,760
It also seem to me that you might get stuck if you had a buying order and the price drops so far down at a speed where you would have liked to stop the existing order and place another one further down.
That's a dilemma everyone faces. You're getting into the weeds of trading now, might be best to start a thread about bid/asks etc. Part of the trick is to anticipate the market and place your orders accordingly, and I find the larger the time-frame (4 hours, day) the less chance you have of being caught by drastic movements. But yes - you might place an order as follows:

● Want to buy at $7000, price is currently at $7200 on a downward trend.
● Price hits $7000 and your buy order gets filled.
● At this point a stop-loss should be placed at $7000 - x% where x is the maximum loss you're willing to incur. So lets say we have a stop-loss at $6800.
● Price falls further to $6500, but your stop-loss sold everything at R6800.
● Price is steady at $6500, you can consider buying back in (assuming signs point toward it resuming an upward trend)

(Luno doesn't have stop-loss options.)

Lastly is the candlestick principles the same for all types of trading, crypto forex and normal jse share trading?
If you're just starting out focus on trendlines & support/resistance. But yes they do to a degree.
 
Last edited:

Temujin

Expert Member
Joined
Apr 18, 2015
Messages
3,285
But your order will only be matched somewhere in the near or distant future because there's always an immediate spread of at least 1 as far as I can see. Am I right in saying that?
So if the current price is R102201 and you want to buy at R102100 the lowest ask might only be R102202 or more.
So you'll have to hold.
It also seem to me that you might get stuck if you had a buying order and the price drops so far down at a speed where you would have liked to stop the existing order and place another one further down.
You'd have to hold anyway cos the instant price would be R102201.
Instant price is a split of current spread. So, to get your R102100 price on that you'd need current bid to drop to around R101900, in which case, you may as well just put your order in for R102100 on exchange and wait for it to fill with 0% fee, alternatively, just buying at R102201 off excahnge would have saved you R1k as using instant buy/sell is equivalent to paying R104245 in the hopes of getting it R101 cheaper. Unless you're only using instant with say R10k swings, you're just burning through your cash and btc in fees, getting less and less btc with each purchase.
 

SaiyanZ

Executive Member
Joined
Jun 5, 2008
Messages
6,176
Check this 2014 vs 2018 comparison. Whilst the market is much larger now the pattern looks very similar. If it is to continue repeating there should be selloff starting very soon around the $8.5k region which will push the price below $5k when over.

https://www.tradingview.com/chart/B...14-crash-pattern-comparison-replay-Yes-again/
Looks like we are still following this pattern as long as it doesn't go back up to $8400 again. If it were to keep following we would have a massive selloff like follows:

- major selloff from $8k to $6.8k
- sideways at $6.8k then another major selloff to around $5.5k smashing straight through $6k.
- slight reversal to test $6k previous bottom
- test fail and down below $5k
 

*SynergyX*

Expert Member
Joined
Sep 30, 2009
Messages
2,061
Looks like we are still following this pattern as long as it doesn't go back up to $8400 again. If it were to keep following we would have a massive selloff like follows:

- major selloff from $8k to $6.8k
- sideways at $6.8k then another major selloff to around $5.5k smashing straight through $6k.
- slight reversal to test $6k previous bottom
- test fail and down below $5k
hope the devs that programmed the bots got these requirements :D
 

L10Yn

Well-Known Member
Joined
Oct 20, 2014
Messages
266
Looks like we are still following this pattern as long as it doesn't go back up to $8400 again. If it were to keep following we would have a massive selloff like follows:

- major selloff from $8k to $6.8k
- sideways at $6.8k then another major selloff to around $5.5k smashing straight through $6k.
- slight reversal to test $6k previous bottom
- test fail and down below $5k
Like those people who have their whole lives planned out while you don't even know what you're going to have for supper...
 

SaiyanZ

Executive Member
Joined
Jun 5, 2008
Messages
6,176
Key point right now. It needs to get above $8050 asap or it will fall out of this rising wedge that has formed over the last 3 hours.
 

L10Yn

Well-Known Member
Joined
Oct 20, 2014
Messages
266
Anyone ordered a Nano Ledger from the official site, how long did it take and were there any issues with the delivery?
 

morkhans

A MyBroadband
Super Moderator
Joined
Jun 22, 2007
Messages
10,487
Anyone ordered a Nano Ledger from the official site, how long did it take and were there any issues with the delivery?
I ordered from them but had them shipped to a friend who was on business in the UK. So probably doesn't help. They took a couple of days after I placed the order to actually ship but it was reasonably quick once it was on the way.
 
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