On today’s episode of The Cryptoverse…
The 2 Most Important Things 0:57
The Short Answer 1:47
Gold Backed Crypto 2:37
DGX Has Low Daily Volume 3:41
A Real Live Example 4:58
My Recommendations 8:41
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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
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!
Why don't you respond to your comments?
I only have so much time and my primary responsibility is to serve my paying members because they make all this possible.
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.
thanks for the great video
no rewards after the first 3 likes
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!!
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
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. :-)
Hello!
I am writing to you because I would like to have the opportunity to create a post for your Steemit blog.
Snax as well as Steemit rewards its users for the content created, but Snax works as overlay solution over existing social networks (e.g. Twitter)
We have no ICO. We already have a testnet, mainnet will be launched this month.
If our project is interesting for you, it will be great if you can publish your opinion about Snax in your twitter or Steemit blog.
Please write me in Telegram @Kunkkasds, if we can cooperate.
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!
Huh.
I was expecting taxes, with a side of substandard record keeping.
Good point.
Great tips as liquidity is key and sometimes very correlated to the overall demand of the asset. It happens in traditional as well as some bonds and even ETFs have limited liquidity based on their bid/ask spreads.
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Liquidity analysis is definitely a key fundamental that plays against two primary factors, the size of your investment AND the time horizon you expect to cash out. Newer investors should definitely shy away from low volume assets. Merchants who are considering accepting crypto as payment also need to pay attention to liquidity.
On the other hand, if you are buying a token to use it (spend it), liquidity analysis is irrelevant.
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Held through the ATH and have kept on holding. I'm excited for 2020. Thats when I'll start looking at when to get out. I'll be happy with hitting the lows in 2019 and getting out of the funk by mid 2020.
Liquidity is definitely key.
That's what happens with random coin investments, if you buy in the hype then there will be no one to sell to later on.
I would also document other criteria such as number of exchanges where the asset is tradable, when to close a position, i.e. when it reached X % up or X % down? It's easier to sell when it's going down but up much harder, you can become greedy and so on... Therefore it's good to have these rules set to maintain discipline.
Good tips!
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BTC has blockchain wallet, ETH has myetherwallet. Nexty also have Nexty wallets - It is available in iOS and Android versions.
This application is a digital wallet, allowing users to safely store their available tokens. #blockchain #eth