Post
Topic
Board Service Announcements (Altcoins)
Re: 【BOT】 C.A.T. Cryptocurrency Automatic Trader (130+ Feedbacks) Now On BitStamp!
by
cryptoholic11
on 08/11/2014, 22:25:50 UTC
Much more efficient and faster...as soon as one order gets filled, another order gets placed.

Is placed at what price? Current Market Price??

Youre misunderstanding me. What I am saying is simple...Lets say you want to buy some 200 SDC at 0.00018 and the order gets filled. Instead of putting that 200 SDC to sell, CAT leaves it alone and puts another 200  buy order at 0.00018 or whatever price range the parameters are set. So instead of buying and selling, CAT just keeps buying. THe same option can apply to selling only.

You are probably thinking why not just manually on the exchanges put 1 big order or a many orders around that price range, and the reason for this is that accumulation is much more difficult this way. Once traders see a lot of buy support, they put orders of their own and as a result your orders dont fill, especially if the price is already near a bottom.
Same concept applies towards selling. If I want to sell my coins, I am better off putting small orders 1 at a time instead of just put huge sell orders because most often this creates panic dumps and more sell pressure, as a result the big orders most likely wont fill, especially if the price has reached a ceiling or peak.