Ethereum Dip Lesson - Quick Post About "Impossible" Limit Orders
Someone once told me: "always have a few limit orders, in the background, at prices you don't think you'll ever see."
The point of this message is that, every once in a while, a flash crash, drop or panic does indeed hit the market.
And if you have a few orders running in the background, you may get lucky.
Remember, these are not 1% drop orders. These are 10% drops, 20% drops, and more. Heck, I have a limit order on Apple at 99/share... maybe one day, you never know.
The key to this tactic is that there's no downside to placing a limit order like this... if it hits, you got lucky. If it never hits, you did not really risk anything.
Anyways, I saw the dip in Ethereum tonight, a cool $200+ per ETH in a matter of minutes. I'm sure someone had a bid hanging out at those levels.
I guess that's the thing about this lesson, place that limit order VERY low and just wait.
It may hit one day.
The point of this message is that, every once in a while, a flash crash, drop or panic does indeed hit the market.
And if you have a few orders running in the background, you may get lucky.
Remember, these are not 1% drop orders. These are 10% drops, 20% drops, and more. Heck, I have a limit order on Apple at 99/share... maybe one day, you never know.
The key to this tactic is that there's no downside to placing a limit order like this... if it hits, you got lucky. If it never hits, you did not really risk anything.
Anyways, I saw the dip in Ethereum tonight, a cool $200+ per ETH in a matter of minutes. I'm sure someone had a bid hanging out at those levels.
I guess that's the thing about this lesson, place that limit order VERY low and just wait.
It may hit one day.
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