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RE: Live Cryptocurrency Technical Analysis - Chart Guys Live @ 8:30 PM EST 5:30 PM PST - July 4th, 2017!
dude don't encourage people to place fake buys that they don't want to fill... that's just bogus... sure it's ok to change your mind and pull an order if things change but just faking support deliberately is not cool imo
I am personally not trading to try and be cool, I am trading to make profit. I have no moral issues doing this, knowing what I have been up against the last 7 years in terms of algos, manipulation, etc. Trading is a shark tank, and not a time to play nice and be friends with everyone in the market.
ok... i shouldn't complain really being a poker player but hey... I didn't mean to imply that it was about kudos... let me change the phrase "not cool" to devious, dishonest and manipulative... if that's how you want to play the game, fair enough... I prefer to just choose good positions without LYING to other people in the game... unless I'm playing poker where that is a deliberate, acceptable and fun feature of the game. Trading should be honest. I realize that it's not. just because the game is full of assholes doesn't mean we have to become assholes ourselves. please don't take that personally... just saying...
We just have a fundamental difference of belief. Why is poker okay to lie and you cannot with trading? Where is the cardinal rule written out? I see absolutely no difference in all honesty. What you just said is like calling someone who bluffs, an ass. These are both games where you gamble to make money, and I too, am a poker player. I can appreciate your opinion and am curious to the logical explanation of why we should not bluff in trading and why it should be kept honest.
i guess it comes down to the basic principle of "do unto others as you would have them do unto you". life is nicer if people are honest. simple. i like honesty.
in poker, bluffing is part of the game. it adds to the fun and complexity. it's expected, even by new players. so people bluffing aren't asses, they're players.
perhaps i'm wrong but i thought layering fake bids and asks to manipulate the market was frowned upon and legislated against in traditional markets. for sure people still do it but... i get that crypto markets are the "wild west" but noobs maybe don't realise that they are being played by these fake walls... so i guess it's good in a way that you are at least drawing their attention to the fact that this goes on...
markets are supposed to enable price discovery for assets and commodities. they can't do that effectively if all the price movements are just a reaction to bullshit in the orderbooks.
Sit on your hands if you want to get out safe.
If you want to trade, you've got to play.
See trading as a game :) You need winners and losers.
I'd recommend to buy and wait.
Play basketball in the mean time ^^
(I'm going against my own advice btw :p)