Post
Topic
Board Speculation
Re: Is market sentiment really driving the price?
by
zhangweiwu
on 11/07/2013, 09:20:52 UTC
would you need a bot?
couldn't you simply place a buy or sell order at you chosen level.


yes you need a bot. You decide to short, so you place an order to buy at $58, for this you don't need a bot.

But you know you could mis-identify the trend, so you also want to place an order to buy at $81, if the price ever break through $80 without hitting $58, --- if when you decide to short the price was $81, then double the reason to do so. But you cannot do it before-hand, that would net you a lot of coins immediately. You only want to place that limited order when the price is near $80, and you need a bot to watch that.

In fact, a shell script (linux) bot less than 10 lines could do that for me. I didn't write on myself -- just didn't realize the $80 wall was so weak, I thought I could see it being hit a few times before breaking.