Who here trades using order books?

Anyone still actually trading BTC using order books? I'm thinking if I should build a bot or not. Saw that BTC liquidity is everywhere across exchanges, which makes it nice to exploit lazy market makers.

People used to check order book depth all the time. Now it seems kinda useless since orders can vanish anytime. Plus, with all these bots around, it's worse. Ever notice how when you place orders at the top or bottom, another one pops up right after?

There's definitely order book traders here, especially those doing OTC trades. Big players prefer this to keep their trades quiet. If you're savvy with coding, a bot might still be a smart way to go because public books are still solid for smaller traders.

Not sure if a bot is necessary anymore. Crypto exchanges already got their built-in trading bots, like grid bots for spot trading. Most market makers are using these tools, way safer than running something unverified. People here probably won’t use your bot unless it’s open source.

Why not just throw in a market order? The key is that the signals from the order book actually do what you expect. I found a pattern on Cryptomus where a market maker places a giant order, and then the price jumps. Made good profits off that, but who knows if it’ll last.

I hit about 90% win rate trading that way. Once I spot liquidity zones, I check the order book to get in. Plus, tracking market makers' wallets helps since liquidity varies across exchanges.

90% win rate? That’s kinda insane! Seems unrealistic, like do you really never lose? You wait for liquidity zones to break before entering, but still, even if you're careful, big players can mess with those orders.

True. On smaller exchanges, the market makers don’t have much pull. But that's where you can actually find real chances. If you keep an eye on their moves, sometimes you can cash in.

I’ve done serious scalping and placed high in trading competitions. So that win rate doesn't sound outrageous to me, but yeah, there’s a lot to it.

I tried it back in my forex days and even with DEX order book trading. Didn't pan out for me, too many ups and downs. Gave up like most did but betting AI might handle it better if it learns to adapt.

You hit the nail on the head. Order book trading has limits, especially with time and volume concerns. You need solid setup, and tech issues can hit hard. If you got cash to spare, looking at mid to long-term strategies seems smarter.

And assuming the platform’s order book is legit, which never seems to be the case. Onchain DEX books might be the exception, but they’ve got their own latency and congestion problems.

You keep mixing up order books and volume. Exchanges inflate volume through market makers, true, but it doesn’t wreck order book strategies. In fact, it can help them sometimes.

You have a point, but remember all those forex platforms caught faking order book entries. Like, Bitfinex had some sketchy stuff going on with disappearing orders. You can’t trust exchanges completely; they might tweak things however they want. Onchain DEX at least can’t spoof.