/biz/ - Business & Finance

>>16270068
Not how it works lol.....

Based retard

>>16270074
>>16270091
Except it does. Pick any fucking coin that's not bitcoin and look at markets orders. The majority of them are under $20. You can try it out yourself. Market buy when the the bottom limit sell order price is higher than market price, and the price will go up. Or market sell if the top limit buy price is lower than market price and the price will go down.

All the orders in the order book are created by traders, market price is based on the latest market order of either the bottom limit sell order or top limit buy order. Doesn't matter how big the order is. Even $10 will do. If the current price of a coin is $100 and the lowest limit sell order is at 110 and the top limit buy order at 95, then if you market buy the price will go up to 110. If someone market sells, it will immediately go down to 95. That's how it works. I did not see any moderation from the exchange. Explain how am I wrong?

>>16270388
We need government regulation to stop this

>>16270397
Who could be behind this post

\
/

Bump. Big if true. We need to unite and pump LINK if what OP says is true.

Based brainlet discovering what a bid ask spread is

please be a troll, you cant possibly be that stupid, OP. next time think it through twice or maybe three times in your case. sage faggot

>>16270068
What you've realized is true. Sure. With enough capital you can drive the price up to the top of the order books. Who is going to be your buyer when you decide to sell?

>>16270519
this. i'm fucking keking at this retard..

>>16270519
I just started trading a month ago, give me a break. I thought there was more to it.
>>16270552
Limit orders generally react to the price. You can also do it yourself to make sure price isn't driven down by market order sells while you're waiting for other traders to jump on your preferred limit buy price.
>market buy
>price goes up
>have your buddy raise the limit buy order price
>market buy
>price goes up
>have your buddy raise the limit buy order price
>keep doing it until you're satisfied
The more people you have working with you, the easier to manipulate the price. Am I missing something? This seems very easy to manipulate when volume is low and there aren't many people actively trading, which happens even with top coins.

>>16270692
That doesn't answer my question. WHO is going to be your buyer? It doesn't matter if you can drive X coin up to 450000 million dollars a coin. Who are you going to sell to? You've only artificially increased the price of the coin. What you hope to have happen, is as you're doing what you suggest, people start to fomo in and you have actual buyers to dump your bags onto. Otherwise, you have an inflated coin with nobody to offload onto.

>>16270068
>I could single handedly drive the price in the direction I wanted with $10 orders on Binance
this is so fucking hilarious

>>16270753
>people start to fomo in
That's exactly what happens. 90% of traders are pure gamblers. Fear and greed has driven the financial markets since their inception and will continue to do so until they're completely taken over by bots. Almost no one sees a sudden 1-2% spike and thinks
>i'll just wait until it pumps another 5%
Their immediate reaction is
>I NEED TO GET ON THIS FUCKING THING NOW BEFORE THE PUMP LEAVES ME BEHIND
>>16270795
True story. There was another retard doing the same thing, with same exact order size, but in the other direction. Probably a faggot shorter.

>>16270866
Just to be clear, you can severely burn yourself if you can execute the pump but the opportunity to dump doesn't come around, obviously. You either have the capital to try and pull this off on a top 10 coin, or you pnd low cap coins, as you know. Yes this market is highly manipulated. Your attempt to pump might be countered. It's all a big fun game. That is why HODL prevails long term.

>>16270866
just took a screenshot of the EOS orderbook on binance to explain to you how it works.
feel free to ask any question

>>16270981
>market buy
>price goes up to 3410
>guy/s selling at 3410 think "oh shit, i dont want to sell it so low, i'll raise it to 3411
>market buy
>price goes up to 3411
>they raise again
And that's how I did it with $10 orders.

>>16270068
The other night on binance someone put a limit order in for 50,000 usd on link at 3.08. The volume was 250k so why didn’t it pump through the roof?

>>16271066
yes a market maker will quickly widen the spread when you do market orders. but then you just need one seller to drive the price back down to 3403

>>16270692
This is called a pump and dump but it only works if you get people to buy it after you otherwise you're just trading dollars for dollars

>>16271152
That's why you put a buy at 3409. You can even be sneaky and also put orders on 3408 and 3407. They don't even need to be big orders, they just need to be in the book to fool other people to limit buy at higher price once they see that price has jumped.

>>16271282
you're aware that the vast majority of those orders are not people but market making bots? they are spoofing like crazy and front running you. When you put a limit buy they usually just front run you and put a little bit to always be above you to trick you to raise your bids.

check the trade history, the vast majority of those trades are just bots trading with each others, not real orders.

>>16271356
Well, that would work in my favor, wouldn't it? You're saying they do the same exact thing I just suggested. We need those buy orders to go up in price so that market selling faggot cock suckers can't drive the price down.

>>16270068
>Why do people even market sell when there's low volume? There's literally no point unless you want to drive the price down, and that's clearly not something the people selling their entire stack want to do. Why sell at $500 if you can sell off at $600? Fucking retards.
you dont market sell to drive the price down you market sell to exit your position when there is enough liquidity to do so. driving the price down (called slippage) is an unfortunate downside when there isn't enough liquidity but sometimes you need to do it. And no you're not a retard to market sell.

>>16271398
>>16271356
>>16270068
None of this is trickery, its just how markets work. Get a clue retards

Best book to understand markets (of all types) is "The New Stock Market" (Glosten, Fox)

>>16271369
Does look that way. When I was playing around with my $10 orders, there was someone market selling and market buying at same exact size as me (e.g. i buy 44 coins, someone sells 44, another one buys 44)
>>16271433
I'm talking about people market selling under $20 worth of asset. You see a lot of these on every market pair. I thought they were faggot bears trying to drive the price down, but now that I think about it, it's more likely they're just bots doing bot things.

>>16271193
this
brainpit op is discovering what a pump and dump is

btw the next step op is realizing that this is /biz/ - pump and dump marketing

>>16271433
oof imagine trading and not knowing what slippage is, how much do you think op has lost in fiat conversion and crypto conversions on normiebase?

>>16271356
Can confirm. Been there, felt that. As for OP, what you have discovered is just the fundamental of how spread works (market buy/sell). There is more to it if you're experienced enough like how a trader from zimbabwe could change/cancel his limit order in the book to not sell it to you at certain prices, among other things like market maker bots.

What you don't seem to grasp yet is the ORDER SIZE of each prices. Your theory could work on paper and maybe on low cap coin where there is only like 10$ volume, but not likely gonna make people to fomo in to buy your bags cuz the coin isn't listed anywhere. Example: bitconnect recently just pumped 200%. See the volume to get the idea. You cant do this with LINK on fucking binance lmao. Once you try to market buy there gonna be a big sell wall coming at you: thats the resistance you see on the chart. There im also giving u free TA lesson.

>>16271470
>None of this is trickery
some of it is trickery, crypto markets are unregulated and the spoofing you find on binance is illegal in legacy markets and that happens even there. you would be a total retard not to understand some market makers collude to fuck you.
>>16271495
>there was someone market selling and market buying at same exact size as me (e.g. i buy 44 coins, someone sells 44, another one buys 44)
just an algo doing whatever

>>16271553
For ORDER SIZE you can look at this pic >>16270981 this how you get SLIPPAGE and its gonna lose you money. Huge whales get slippage cuz 1MM market sell can't accomodate that one price below it. So it SLIPS down below in cheaper price hence making his profits lower.

>>16271539
I'm not trading on coombase, don't sell me so short, friend.
>>16271553
After I sell my bags and get my money back I will record myself pumping some low price coin like chz or rvn by 1% with 10$ orders to show how easy its done. I did it with a top20 coin yesterday, it should be even easier with these. If the coin is volatile it's less likely to have big sell walls as people are responding to price movement and rapidly changing their sell and buy orders.

>>16270068
Based

>>16271710
Kek doesnt sound like YOU moved the price though

Just dont follow op practice. Best way to lose money. No wonder we never get bull market again.

>>16271587
yeah there's spoofing but it doesn't really fuck you over unless you're raising your bid over and over desperate to get an order off. Just place orders you are happy with conditional on being filled and sit tight

>>16271781
I did. The spread was pretty crazy, like 0.3% at times, so that probably helped.

>>16271856
You forgot to talk about taker fees.

This is what the one guy sort of did in December for the run up to 20K. But he did it with billions not dollars. It is manipulation, can be referred to as pump and dump, but at the end of the day why do you care? If you think you can take advantage of it why not do so?

>>16271890
It's 0.75% if you have 50 BNB on binance at lvl 0. Otherwise 0.1%. On higher levels you're paying next to zero. Basically fees are big nothing burger outside of scummy exchanges like coombase.