High trading volume isn't always a good thing... When there is too many traders, it's hard to ride the highs and lows because it's less predictable than when the volume is lower. Binance also doesn't have all the cryptocurrencies that I trade currently.
I always watch out for buy and sell walls... Even with high trading volume, it's possible there is no chance for any profit if people create too big walls before the needed exchange rate.
Buy and Sell walls can be so misleading I rarely even pay attention to them, though I admit sometimes they make for profitable trading. There is so much spoofing and pulling of orders before they are filled it's tough to tell what is real and what is not, ya know?
I tend to lean on that nothing is "real", it's just matter of traders creating panic effect that depends on whether other traders think the value can continue going on in same direction or if it will reverse the direction. If they think it will reverse, they will pile up at sightly earlier rate.
There will always be small and big walls, it only depends on if there is trader willing to gamble and take a risk eating through the wall and still getting profit.
High trading volume isn't always a good thing... When there is too many traders, it's hard to ride the highs and lows because it's less predictable than when the volume is lower. Binance also doesn't have all the cryptocurrencies that I trade currently.
It's a good thing in terms of liquidity, which is one of the most important things when using a cryptocurrency exchange, behind security of course.
I always watch out for buy and sell walls... Even with high trading volume, it's possible there is no chance for any profit if people create too big walls before the needed exchange rate.
Buy and Sell walls can be so misleading I rarely even pay attention to them, though I admit sometimes they make for profitable trading. There is so much spoofing and pulling of orders before they are filled it's tough to tell what is real and what is not, ya know?
I tend to lean on that nothing is "real", it's just matter of traders creating panic effect that depends on whether other traders think the value can continue going on in same direction or if it will reverse the direction. If they think it will reverse, they will pile up at sightly earlier rate.
There will always be small and big walls, it only depends on if there is trader willing to gamble and take a risk eating through the wall and still getting profit.