Or do you go by the Bids & Asks Chart?
I ask because i am a true noob, and i am trying to get to know this trading malarky its alot of fun and profitable if you do it right,
So when i trade i watch the Bids & Asks chart now just to see what the hold up is and why it is dropping i have come to the conclusion that it can be a few things but i am going to focus on the one for now,
1. A massive Ask order!!
forgive me if im wrong as i said before im a noob!
but when i see a massive ask order like this people tend to undercut it ie enter a lower asking price and the price dwindles lower and lower,
when new traders see this and they see the price drop, they potentially hit the sell button at the last price which clogs up the Asks chart,
but when that huge Ask order is filled the price of the coin begins to increase again, this is why im curious on how you trade?
i know this is a very simplistic way of looking at it, but over time i/we will learn alot more.
any input or views would be much appreciated from you trading kings
thanks for reading
