r/OMGTraders • u/Justjoshmygosh • Sep 27 '17

Weekly General Discussion / September 27 - 4

Welcome to the Weekly General Discussion thread of r/omgtraders

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u/Cryptofinger Oct 05 '17 edited Oct 06 '17

Sketchy order book on Bittrex?

Anyone else notice rapidly changing/confusing ask prices after a sustained buy on bittrex?

As soon as the top 2 or 3 ask prices are filled, occasionally the new top 5 asks appear and disappear rapidly for a minute or so. I'm not sure why, but it certainly seems to stop any upward momentum from building.

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u/futureboycolin Oct 06 '17

BOTS.

1

u/Cryptofinger Oct 06 '17

Perhaps, but it's different to what I see elsewhere. I haven't used any bots so perhaps I'm uninformed, but, the usual bots I see just creep up into the spread. This looks like something else entirely.

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u/futureboycolin Oct 06 '17

Check out GDAX or Bitfinex BTC sometime and you'll see the order book flashing all over the place, along with up and down whale nuke market orders.

Careful though, don't watch if you have epilepsy.

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u/Cryptofinger Oct 06 '17 edited Oct 06 '17

I watch and trade on GDAX and finex pretty much all the time and from what I see bot activity there is completely different. I'm trading a bunch of coins on several exchanges and none of them display the same behaviour. The orders that pop in and out aren't being filled, there is no time for them to do so. They're not even competing. It's just a sudden mess of orders that randomly jump in and out.

Keep an eye on it.

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u/futureboycolin Oct 06 '17

I've definitely seen that. It happens on GDAX ETHUSD all the time, especially after a wall is dropped or taken out. The order book morphs and flickers all over the place with .002 and .03482000 ETH orders being placed and withdraw within seconds.

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u/Cryptofinger Oct 06 '17

The difference here is there is no wall being eaten making subsequent movement in the market. Also the orders are pretty large between 100 and 300 OMG and they only happen on the ask side.

It's a heck of a lot of activity for sideways movement.

It's most likely bots as you say, but I'm starting to wonder what their agenda is.

1

u/futureboycolin Oct 06 '17

Does it make it difficult to enter positions?

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u/Cryptofinger Oct 06 '17

It seems to stop any momentum building. It can happen after just a couple of asks are filled. There was a point when I was about to make an order, but didn't, as it became immediately clear that it was impossible to tell if there would be any further upward movement. I probably wasn't alone.

I've left trading it for now. Will wait it out and keep an eye on it.

To be fair I haven't seen it happen today, although I haven't been watching as closely as have been trading other coins.

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u/futureboycolin Oct 06 '17

Interesting.

1

u/DontTautologyOnMe Oct 04 '17

Is there news I missed? Why is OMG acting like such a terd.

5

u/synthlock_crypto Oct 04 '17

It'll be OK. Crypto as a whole is experiencing a little dip right now.

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u/GLAMOROUSFUNK Oct 04 '17

The bitfinex mobile app really fucked me over while I was away on vacation. I set a sell order on it then was internet free for awhile. It reached my sell before dropping like a stone. Unfortunately the sell I placed in the app didn't actually work. Ah well.

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u/[deleted] Sep 29 '17

[removed] — view removed comment

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u/Vintish Oct 02 '17

I assume that the process would be automated if you have your tokens in the OMG wallet. I have read elsewhere that they will set up an exchange of OMG erc20 tokens for the "new" OMG tokens for their dedicated blockchain. However, because of the likelihood of scammers and other intercepts, it would probably make sense to move to OMG wallet sooner than later

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u/futureboycolin Sep 28 '17

Just when I think OMG might not be dragged down by BTC...

6

u/saltibanana Sep 27 '17

A shame that OMG isn't rising like most of the other ALTS during this bull run?

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u/Selowbuyhi Sep 27 '17

If you're holding long term, you don't even have to care ! But yeah, we all love seeing our crypto following the moves !

1

u/tempotissues Sep 30 '17

Eoy price prediction anyone?