/biz/ - Business & Finance

[Anonymous No.9213059]

I heard some successful daytraders look at buy/sell walls instead of looking at charts to determine when to buy and sell. how is this reliable if buy/sell walls are constantly in flux? if you sell at a big sell wall, a huge buy wall could appear out of nowhere and then you lose.

[Anonymous No.9214024]

bump

[Anonymous No.9214160]

>>9213059
I barely heard about day traders who are successful long term, let alone successful day traders who only look at something as easily manipulated as walls

[Anonymous No.9214230]

>see huge wall
>eat it

every time, buy or sell, doesnt matter

[reluctant kneepad girl No.9214625]

>>9213059
Orderflow Visualizer
There aren't many fir crypto
For stocks good orderflow tool extremely expensive

You have to program your own
Me working on one right now

[Anonymous No.9215152]

>>9213059
I've made some good money doing this. Usually I just wait for a huge sell wall to get eaten away and then market buy when the spread is 0% and just sell within 5 minutes and aim for 1-3% profits.

[Anonymous No.9215268]

>>9213059
Bittrex was brilliant for this since they let you see the whole order book all the way up and down (not sure if this is still the case as I haven't traded on it in a while). Not a coincidence that Binance and ever other chink-scam/shady exchange obfuscates this essential data. Even big swinging dick Binance only lets users see the ~200 or so orders above or below market price. Fuck all new exchanges

[Anonymous No.9215290]

I made a lot of money trading. And walls are very deceptive. I've found that random moons when holding a coin actually go just as fast as trading.

[Anonymous No.9215300]

>>9215152
youre talking crypto, right?
have you ever tried this with weekly options on something liquid like the SPX? im interested to see if the leverage would outweigh the downside risk...

[reluctant kneepad girl No.9215303]

>>9215268
You can gather the data yourself and make your own for free... it unimaginable opportunities

if you wanted to do same for NYSE you'd have pay for millions of dollars for access to that data...

[reluctant kneepad girl No.9215330]

>>9215300
Yes, this exactly how people make money on SPX
Orderflow!!!!

Most pro SPX traders ONLY use orderflow

[Anonymous No.9215344]

>>9215303
how do you gather the data yourself?
this is a great idea

[Anonymous No.9215437]

>>9215303
p-pls respon >>9215344

[Anonymous No.9215441]

>>9215344
>>9215344
>>9215268
ya how do you get the data yourself? also, do you really need to see much above or below 200 orders? if you're day trading or scalping, you're going to sell very soon after buying so it's not like you need to see what's going on 1000 orders above. and as i mentioned in my original post, it seems like orders come and go randomly, to the point where a massive sell wall can appear out of the blue right after buying, fucking you over

[Anonymous No.9215461]

>>9213059

WHAT DO YOU THINK A DEPTH CHART IS FOR SMOOTHIE

[Anonymous No.9215478]

>>9215303
How to do for Binance or other large volume exchanges that hide the order books? No clue how to access what isn't already viewable but it would be a game-changer

[Anonymous No.9215486]

>>9215441
im not sure if the massive buy/sell wall manipulation is nearly as rampant in stock as in crypto. but idk because ive never seen a SPX orderflow chart

[Anonymous No.9215499]

>>9215478
is this not an order book?

[Anonymous No.9215522]

>>9215499
It's an order book that hides 90% of the orders with no way to view them. Check bittrex to see difference, you can scroll through every single order on the books

[Anonymous No.9215559]

>>9215522
why do you care about people putting in meme orders?

is it so you can see where huge spikes will occur where someone put in a huge buy at a certain price? hmmm

[Anonymous No.9215582]

Real traders study chart history and watch level 2 chart for momentum change indication

[Anonymous No.9215609]

>>9215522
but why do you need to see orders so high up or so far below if you're just going to be flipping it pretty quickly?

[Anonymous No.9215685]

>>9215609
i think its so you can gauge momentum change at reversal points. if you cant see far out, then you cant be sure it isnt just a minor retracement.

but idk
i just want to know how to gather the data myself like >>9215303 said

[Anonymous No.9215709]

i ONLY use stoch rsi to trade

[Anonymous No.9215767]

>>9215709
I know this is a joke but on backtesting stochrsi works pretty good as a contrarian indicator.

[reluctant kneepad girl No.9215778]

>>9215344
Through Binance API
CCXT makes it easier
https://github.com/ccxt/ccxt

[Anonymous No.9215814]

>>9215778
word
i thought you meant for NYSE

[Anonymous No.9215825]

>>9215778
so when you look at the order book, how far above/below do you look? what makes you decide to buy/sell?

[Anonymous No.9215946]

>>9215609
I don't usually do high-speed "flipping," I just like to see who's actually in the game and who's spoofing. Also market manipulation does real damage over time and total transparency of this sort curbs it at least to some extent

>>9215559
I actually enjoy selling into large spoof orders when I can during an organized pump. Crypto "influencers" and their pajeets are cancer and deserve to be sniped

[Anonymous No.9215969]

>>9215778
Brilliant, thanks rkg

[reluctant kneepad girl No.9216095]

>>9215825
Me not overflow expert, but

Me look for price action
How much X sold @ Y price

Lets say there were 30 million XRP sold @ 9400 a few day ago

Price 9300 right now
If see 20 million XRP sell order out up @ 9400 there VERY HIGH chances it hit 9400 again


Here good book on subject

[reluctant kneepad girl No.9216205]

Here image of what $10k orderflow tool look like

[reluctant kneepad girl No.9216220]

>>9216205
>>9215969
Welcome ^_^

Here image of another fancy orderflow tool
These are for SPX trading

[Anonymous No.9216386]

>>9216220
What is this?

[Anonymous No.9216401]

I'm getting tired of coinbase (gdax) its such a shit hole they have zero support I mean their support doesn't help at all they'v been fucking me for weeks now and not helped at all just going around in circles the copy paste automated emails to my tickets without even reading them the incompetent lazy fucks.
I'm thinking about cashing out of coinbase and getting into trading something like bonds and using something think with a fancy tool like Jigsaw or other pro tools like >>9216095
>inb4 but muh decentralized exchanges

[Anonymous No.9216434]

>>9216205
>>9216220
Crazy. I'd shell out for something like this if/when I start day trading again (tho not for $10k ofc); do let us know when you've got something usable

[Anonymous No.9216451]

>>9216095
Can't you accomplish the same with a simple volume profile?
(available on tradingview....pro)

[Anonymous No.9216459]

I'm getting tired of coinbase (gdax) its such a shit hole they have zero support I mean their support doesn't help at all they've been fucking me for weeks now and not helped at all just going around in circles they copy paste automated emails to my tickets without even reading them the incompetent lazy fucks.
I'm thinking about cashing out of coinbase and getting into trading something thick like bonds and usinga fancy tool like Jigsaw or other pro tools like >>9216095
>inb4 but muh decentralized exchanges

>>9216386
There are a bunch of different tools like the ladder, volume profile, footprint, market profile, time and sales, and so on.

[Anonymous No.9216475]

>>9215778
Am I being trolled? Is this legit? is anything this stupid whore is saying in this thread correct?

[reluctant kneepad girl No.9216529]

>>9216451
They're close, but no

Proper orderflow tools have way more information >>9216205
For SPY specifically you can see who buying what stock that part of index

Very complicated stuff

[Anonymous No.9216715]

>>9216475
kek
i was having the same confusion.
yes. that book, this strategy, and these tools are legit it seems