Without This You Might Lose Money On A Winning Crypto Investment

yes2crypto (49) 5 years ago

This is an extremely good thing to point out to new traders, and goes hand in hand with understanding the spread (difference between bid and ask) as well as the different types of orders different exchanges offer.

The most commonly supported are LIMIT and MARKET and the example you’re talking about is going to bite new traders when they execute a MARKET order based on the spot price, thinking that they’ll get that price for everything they’re selling, not realizing that the exchange’s job is to match up buyers and sellers - they are, after all, an exchange. So they take the MARKET order and fill it with the top order on the pile, REGARDLESS OF PRICE until that order runs out or you do, then moves on to the next order on the pile. Then it does the same thing.

If you’re not careful, as @marketingmonk says, your dreams of a huge sale may dwindle down significantly because the order book can’t sustain your volume. Using a LIMIT sell order can protect you in these cases

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lamond16 (46) 5 years ago

Like many, this is something I know and quickly forget once I have extra funds to spend. I be in shop to you broke mode taking a loss and not even knowing until days, sometimes weeks later. Great advice, ill be sure to keep this recommendation in mind as of today. Thanks for the education CC. Continue in greatness of education, its a trickling down effect that is substantially valuable now and even more so in the future and for the future!

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indigoocean (67) 5 years ago

Why don't you respond to your comments?

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marketingmonk (71) 5 years ago

I only have so much time and my primary responsibility is to serve my paying members because they make all this possible.

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indigoocean (67) 5 years ago

All of us upvoting you on here are also paying you though. If you don't want us to, you can still post here and set the post not to pay out rewards. That way all rewards will go to your curators.

I enjoy your content, but steemit is a social platform.

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lee-beuzeval (44) 5 years ago

thanks for the great video

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lee-beuzeval (44) 5 years ago

no rewards after the first 3 likes

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gbcryptotrader (47) 5 years ago

The liquidity challenge in a bear market is even more exaggerated. If you trying to sell then, it may be to late - I know :-( Another great show Chris!!

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neoicarus (51) 5 years ago (edited)

Good conversation. I'm impressed how many times you managed to say "spankchain" in such a short amount of time in seemingly one video take. The YouTube auto generated transcript says it was 10x. I thought it was more

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alexanderhoehne (51) 5 years ago

Thanks for pointing out the principles. I do follow the same path. I like personal experience even with losses. It gives direct experience and that is very valuable to me beside conceptual knowledge. --- Great inside: value without liquidity is worth less then in theory. It is the same with theoretical knowledge without experience. :-)

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3 votes

snaxteam (62) 5 years ago

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chekohler (70) 5 years ago

Some really great tips especially for those who want to get into those really alty alt coins, which id never recommend getting into or if you got in at ICO phase and now you want to sell. May be worth splitting your stake across a number of exchanges based on each order book, so you maximise on what you're selling!

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