Anyone else into trading off the depth chart?
I've been learning it and doing well. Look at short-term sentiment / momentum. Trade off it. Get out once small % gains have been made.
Do that over and over again, increasing your stack each time.
I learned it from these guys - everyone is happy to help out someone new:
Voodoo Crypto DiscordAny questions, let me know!
deepth chart is only ilustration of order book. And as all experienced traders know order book shows only part of orders and looots of fake orders.
Fake walls to makes you move your order or to make you fill like this price will never go down/up
Part of orders - 1 trader willing to sell 100 btc of alt will put 100 btc sell wall. second will use bot that will add order by order only if previous was fulfilled stopping price but not making fud due to huge sell wall third will set limit sell order (if price will go 1 % above my "take profit price" then dump 10 btc into marker dumping price 2 %) after realising this order he will create another untill fulfilling those 100 btc.
Only first trader will show his intentions in order book (and he is one out of 10 who will do that. Whales are alwais trying to hide their intention. And when there are showing their big order in most cases its fake). Now you see that deepth chart is useless.
Alwais if you are earning ask yourself a question. Why? Because of new indicator or mayby because of fact that we are in small bull run on alts since last week and even blind monkey would earn?