Wed May 6 17:52:29 2020
<5547a085> I keep getting drawn into the higher frequencies, but the chop is murder
<8f79fcda> <https://youtu.be/0zH_352t8tQ?t=25>
— Dropship – All Unit Quotes – StarCraft: Remastered
<8f79fcda> <@U07MMSG8M>
<8f79fcda>
<8f79fcda> and look at that price lol
<7d56dcb3> am i the only one that doesn’t trust order books?
<7d56dcb3> ie i’m sure there are tons of orders on people’s computers not on the books just waiting for a certain price to hit
<8f79fcda> if you’re talking about the worst abuses of an open market orderbook – i trust that they aren’t to be trusted
<8f79fcda> and fuck yea
<7d56dcb3> or have exchanges transitioned to a maker-taker fee model?
<8f79fcda> depends on the exchange
<7d56dcb3> i remember some exchanges doing it
<7d56dcb3> but not sure if it’s caught on
<8f79fcda> we’ve got spoof orders, block orders, ham orders, fat fingers, long tongues, bait orders, knifecatchers, funnel trap spider orders… there’s so many names for the different types of order book formations
<8f79fcda> and that’s not even talking about the money line (price)
<8f79fcda> for price movement
<8f79fcda> we’ve got the bart simpson, cup and handle, waving flagpole, moon
<8f79fcda> <@U07MMSG8M> looks at candles so he probably has some other names for price trends/formations
<5547a085> the dick tease, the nipple flip, the honey wick
<8f79fcda> BGD candles
<5547a085> The BTFD face rip
<8f79fcda> (Big Green Dildo)
<5547a085> I look at volume on different timeframes (15M, 30M, 1H, 458M, 850M, 1D, 1W) and kind of zoom in and out to get a litmus of price direction
<5547a085> I have a tendency to start trading higher timeframes down to 1M which during certain trends can pay for hours (like yesterday), but then today during contention points will become a chop zone
<8f79fcda>
<5547a085> My 850M indicator just went long, but the 1H is short
<5547a085> 1:4 timeframes are the best match, but the 850M is a reliable macro, if I had respected it the entirety of the last month I’d have caught a lot more bids, but I get restless and cant stomach having positions open longer than 20 minutes, hence the tendency to catch higher frequency timeframes like 15M, 5M, 1M
<5547a085> I have to go longer term, and also wake up earlier
<5547a085> Its basically 4AM CST and 7PM CST where most of the larger directions seem to be decided
<5547a085> I’ve caught some high levered 1% moves that pay out handsomely, but then the fucking chop takes a lot of it away, I need to readjust my internal diatribe
<5547a085> So heretofore, I now publicly renounce 1M, 5M and probably also 15M timeframe trades
<5547a085> For the next 5 days
<8f79fcda> what are you going to do with all that time?!
<8f79fcda> lol
<5547a085> Thats where the horse tranquilizer comes in
<8f79fcda> time to drink corona
<5547a085> You just get in a sleep champer like that alien Prometheus
<5547a085> They didn’t say it in the movie, but that plot was basically him hypersleeping between galactic bids to unload all that space jizz in jugs on the galactic market
<5547a085> And Guy Peirce fucked it all up, so he rightfully killed them all
<8f79fcda> <@U2S98EDNK> price is harder to trust than order books imo
<8f79fcda> and order books have plenty of fuckery to go around
<8f79fcda> <@U2S98EDNK> on any given day i’d say there’s probably 1-2k meatbags globally that are actually and actively trading – everything else is bots