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Trading Tip #7: How To Use The Order Book

3048 ratings | 168748 views
What do you all think about the order book? Do you personally use it for your trading? Thank you all so much for watching the video. If you enjoyed the video, please consider dropping a like and subscribing. Running into some trouble or questions? Feel free to leave them down in the comments below! ---------------------------------------------------------------------------------------------------------- Patreon: http://patreon.com/data_dash Donate BTC: 14DHXJa9CgeBPf6m7UeMKE9yzAYFKPW2nV ETH: 0xa34d3461ae04953489e9aa464689c022836751d0 Want to start trading cryptocurrencies? Sign up through this link to get $10 of free bitcoin with your first purchase of over $100 https://www.coinbase.com/join/52ee973... Disclaimer: Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.
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Text Comments (231)
Lud Wig (27 days ago)
Manifest Gains (2 months ago)
You know, I'm still new and learning but it seems that unless your holding, and you instead day or swing trade, looking at buy and sell volume is way more relevant than looking at what the chart has already done. If your looking at the chart for what to do short term, (minutes) then you're already to late to act.
Frank Wase (2 months ago)
Nick, what do you think about the arbitrage between the rates of coins on different exchanges? And what do you think about the bibitbot? Please remove the review on this topic.
Ali BaBa (2 months ago)
Yes very interesting topic, do a survey, it will be very interesting
mrmoo (3 months ago)
Great explanation, it does kinda explain iteself but its nice to have someone lay it all out so you know you're on the right track. Thanks ;)
Silvanus Clarke (3 months ago)
Nice video but definitely not for beginners
Phil D (3 months ago)
You made this way to complicated and failed to answer a simple question...
leaharainbird (4 months ago)
Excellent video. Just a question for a new comer. Looking at getting a better device for trading. A laptop, do I need any Intel e.g....Intel = i5 /i7 ssd processor etc........???????
J Law (4 months ago)
Unbelievably stupid. Anyone who trades looking at the order book is an idiot... Do you look at the order books on all the exchanges selling your coins? Do you look at the order books for only the largest volume of the coin your buying? Do you just assume spoofed orders don't exist? Do you just ignore the fact that the fucking order book has zero effect on the price? Holy shit... unbefuckinglevable.
akinremi opeyemi (5 months ago)
Nice one dude!
benjiebarker (5 months ago)
so when i place an order and it is open and not yet filled....is my open order part of the order book?
Jamal 1985 (5 months ago)
you have some good teaching skills bro!
Marcin K (5 months ago)
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Geco Correal (5 months ago)
Awesome video man, thanks a lot!
Michelle London (5 months ago)
You're amazing, thanks so much for your content!
Thompson Adamas (5 months ago)
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James Monroe (5 months ago)
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Caroline Hearts (5 months ago)
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Rosaline Carie (5 months ago)
Ok, Thanks, i have sent him an email already Caroline
Caroline Hearts (5 months ago)
yes you can invest $1000, but i advice you invest with a higher amount, you will be glad you did
Caroline Hearts (5 months ago)
I already made $1100 today
Cherry Adrales (6 months ago)
Does binance have this order book. I love order book because I certainly know intelligently how low I can buy and set my sell comfortable so I can complete my trade and start over again.
Ggdivhjkjl (6 months ago)
I already knew all of this but I think it's good that you made a nice simple clip like this for beginners.
sisq gabi (6 months ago)
Mikkel G (6 months ago)
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CCM'S Best World Videos (6 months ago)
Good video 👍
Omelikamu D (6 months ago)
Thanks, In cryto market do you buy when the pin bar is bearish and sell when its bullish on like the forex mkts?
Justin Kraker (6 months ago)
quick question...in the order book chart, is the y-axis volume? or is it number of open orders? if it's number of open orders, can't orders be different sizes, and so it'd be hard to figure the exact amount of resistance? as you can probably see, i'm a little confused...if someone could help me out, i'd really appreciate it.
SpyBlogger (6 months ago)
Thank you for another wonderful video!
Serge Sam (6 months ago)
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Davy Vs (6 months ago)
Hey! Let's welcome you all on this discord chat https://discord.gg/dMmZ5gM we talk about crypto and other stuff aswell. generaly nice group ! nice ppl. helping you out if you have any questions ! see you there! greetings Dvs
Blue Octopus (7 months ago)
at 3:10 you say 220 sell orders to reach a certain price. is it bitcoin or sell orders?
Armando Calderón (7 months ago)
i hate fee's
Johan400NL (7 months ago)
The amount of trading bots have significantly increased lately making it hard to use the order book. I now basically just buy the best sell order in the book as putting in a buy order before the wall ends me up with getting right after the wall in less than a second. (that's on Binance) As well the amount of fake walls that are just put in the order books to create panic are enormous lately. Now you can really see how low the volume on cryptos is making it so easy for whales to manipulate the market,
Hook Labs (7 months ago)
Thanks for the informative videos! You are one of the true voices in this space
hanqie11 (7 months ago)
Use signals to buy and sell investment strategies https://signals.network/join/F23F4B
Vapor Crypto (7 months ago)
Straight as an arrow! Thanks brother
johnnyeboy33 (7 months ago)
Thanks for upload my friend very good
Adam J. Morton (7 months ago)
I'm referring to the ad, Zouk Coin.
needforweed999 (7 months ago)
Your channel is fantastic mate, you're basically my tutor.
disfunctional45 (7 months ago)
Thanks, very informative and well delivered.
cricker22 (7 months ago)
I'm a total novice in this game and I've watched your trading tip vids in order thru this one. Just want to say thanks for the clear explanations! After each video I feel like an "expert" until I watch the next one and realize how little I know!
Gershom Koomson (7 months ago)
whats a setochi
Breaker parsons (7 months ago)
Great vid mate will send to my friend so he can understand.. I have also informed him order books can be manipulated,put in large order then cancel before it’s executed..😁👍
Got Aerial (7 months ago)
Why do you snap your fingers? ;)
Serger Goedhart (7 months ago)
I lost all my bitcoin, now I am setting up a go fund me account. If any one want's to donate. My adress 13DtPZqcG2ST7BYRKPaq5fWmSJuCbWzgxp any amount is welcome.
Saurav S (7 months ago)
Serger Goedhart how did you lost ?
Der Krypto Zoo Löwe (7 months ago)
Thanx for sharing ❤❤
awmaigawd (7 months ago)
Thanks for sharing this helpful video. Btc at sub 4k, ltc 50bucks, neo 25 haha wish I could go back to that time.
moneytrain22 (7 months ago)
Ryan Long (7 months ago)
Nick, I'll give you 500k to trade for me for high commission, interested? Please respond.
DataDash (6 months ago)
Ryan Long you can reach me via my email address for more info on this. [email protected]
LastchaosUSA (7 months ago)
Carlos (7 months ago)
Best tutorial on order books I've seen thank you!!
Alcala333 (7 months ago)
Your theory works until a big investor or group of investors break the sell wall and the price usually moons...
Kevin Curry (7 months ago)
Thx for doing this man! Huge help!
Crypto Pants (7 months ago)
Fuck u and your snapping your no magician
Darren Munsell (7 months ago)
Omg .. life saver! Need help with why different exchanges have different prices - ack! Example- coinbase vs BTC Markets- why such a differences? Why
ibobsie (7 months ago)
he is full of shit..try;ing to act clever and fast...im gonna make a video that explains it properly and clearly to everyone....these muppets dont know what they are talking about ...if they did ..they could explain it simply like i am going to do .
Josh Winter (7 months ago)
Pointless because no central exchange or quotes.
Joshua Fausset (7 months ago)
I am hypnotized when you snap. I agree with everything you after the snap at the beginning.
Pieter Holthausen (7 months ago)
Cool video! Can you do more like these again please? Merry Christmas!!
john/flag (7 months ago)
I think if you explain the order book you should also explain market and limit orders.
Richard Johnson (7 months ago)
OMG, I cannot thank you enough for this! up until now, I lost probably 200 in 3 days by going into a trade blind. Now, I know what that graft is and I am making MUCH better market decisions. Thanks a million.
firebirdude2 (8 months ago)
One word. Spoof.
Tella Skope (8 months ago)
how can I tell what the minimum order of an exchange is? I get this error when I try to make an exchange that says "MIN_TRADE_REQUIREMENT_NOT_MET" even though the total in the box is more than 0.000500000
Jason Wheeler (8 months ago)
watched this before but came back to watch again, man that was a perfect snap to start off. ;)
Robert Caldwell (8 months ago)
Finally, someone who actually gave the CORRECT way to read a book.
Angel Murphy (8 months ago)
"Agreement." Agreeance isn't an actual word, it was used by Fred Durst of Limp Bizkit while giving a speech at an award show and the media errupted because of the mistake. It's like saying "that botdollar hit $17k!" We get what you're saying but, specificity is king, as is that botdollar. Good explination though.
Thanks that was very clear, I'm a bad trader.
Thiago Souza (8 months ago)
Thanks for great video!! Does someone knows how to explain that orders in the middle of both sides? (When you see a valey).. is that because these are too big orders?
Preston Taylor (8 months ago)
thanks dude your videos are very helpful. I watched your trading for intermediates and liked it. Would you consider making a video specifically for day trading or swing trading, as opposed to the long term 1-2 year stuff.
Szymon Szabliński (8 months ago)
maybe i didnt understood you but i think youre wrong. In your example you said that if you want to buy at 0,00084 you have to get through 220 SELL ORDERS but that number means that if you want to buy that coin for specific amount of other coins (bitcoin) you have to get through up to that price - 0,00084. And in oposite direction if you want to sell specific amount of 10x for some amount of bitcoins it shows you the price what you have to get up for that. So if you want to spend B220 on 10x you have to set the limit on 0,00084 becouse up to that price every ask order sumed up to B220.
Alex Caschetto (8 months ago)
6:10 Isn't 45 BTC the amount requested to clear just that "price column" which is 0.00671 So,to get to that price you have to clear before the anothers "ask column", each one of 45ish BTC (decreasing towards the left side), so the amount of BTC to get to the mentioned price will be lots more (hundreds of BTC). Not sure about this: i'm learning from you thanks to these videos and trying to clear some doubts ;)
Andratos95 (8 months ago)
Wait... So I always read it wrong! In your example of the 220 BTC on the sell side of the order book at price "x"... That doesn't mean that there are 220 BTC of orders that want to be sold AT x... But 220 BTC of orders that need to be cleared to get to x! So 220 comprehends all the orders BEFORE x too! Right?
Adam V (8 months ago)
Thank you Nick!!!
Charlie Rubin (8 months ago)
When do you sell your day trades? At what profit point are you satisfied?
paul smith (8 months ago)
awesome video as usual. thanks
Daniel Pye (8 months ago)
Very helpful vid man, thanks!
Andreas Schaerer (8 months ago)
good video! what i dont understand,why are 2 both curves only go up to the ends? and not up and down depending on the order size at a specific price? is it something like an integral/sum?
D Nguyen (8 months ago)
are hidden orders also displayed in the order book chart?
Sagar Srivastava (9 months ago)
nice explanation! good video, keep making
LindaxLindax (9 months ago)
Thank you this was very helpful! :)
gpot42 (9 months ago)
Can you give a tip about fake buy and sell walls? They are met commonly in crypto.
sarvesh gupta (9 months ago)
Really helpful. Thanks Nicholas.
DataDash's Chef (9 months ago)
Great Video TY
GuildF40 (9 months ago)
17 people downvoted you because you make great vids, idiots . Thanks
Ozkan B (9 months ago)
Perfectly explained but I still don't understand it. I have a feeling like, how many times I watch it, it won't make a difference
Benzer (10 months ago)
In Crypto this could sometimes work for small caps, but in general in financial markets, and in crypto it will be the same soon, orderbooks change in split seconds. Especially in very liquid, high volume coins. First of all it doesn't show triggered orders or orders by a bot, that can totally catch you off guard. So be aware of that.
Benzer (10 months ago)
Good example are orderbooks on bitfinex. There seem to be a lot of bots going on. Also for coins on multiple exchanges, you have to consider multiple orderbooks. Trading the order book is not a good idea imo
Rick D (10 months ago)
Thanks Nick! Been educating myself, before getting my feet wet in trading. And the order book was still a question of mine. You really explain this in a laymen’s terms, while still keeping it high paced and interesting, which is really refreshing. Shout out from Holland / Germany!
Hamza Celik (10 months ago)
This guy is awesome ! Thanks mate !
1DaTJo (10 months ago)
This probably sounds very lame, but I didn't know I could put in an 'order' to buy. I've just been buying on the spot. Wish I knew more...
1DaTJo (10 months ago)
I knew you when you were just a spring chicken Nick! Way back last month ;)
Ripon Hasan (10 months ago)
Nice !!!
arvind singh (10 months ago)
did u know when you use limit sell option it was not showing in the wall
The Crypto Roadshow! (10 months ago)
Order book really gives good insight in the state of the market on an exchange
Nenad Samardžija (10 months ago)
Again for 10! tNX!!
Daniel 636 (10 months ago)
Noob question: What is the % Change on Bittrex, is that the change in the last 24 hours and why doesn't it match Tradingview when I'm tracking those coins?
Token Recap (10 months ago)
finally made my first video lmk what you think
Jim Smolenski (10 months ago)
Does anyone know where Nick went? I am beginning to think that a hedge fund or a big scummy bank picked him up and made him sign a confidentiality agreement to not tell anyone!
Patrick Mols (10 months ago)
+DataDash Are you ok man! ? This isn't healthy anymore to keep silent for so long, not even a tweet on your twitter... It was healthy if you didn't posted every day, but because you did and didn't enounced a break, my gut is telling something else. Only 3 options cross my mind. 1) something really bad happened to you (or a family member, but then a short tweet was possible) 2) arrested for teaching us and you are in jail now 3) abducted by aliens to see the future, knowing what coins we need to buy. Obvious 3 is a joke, just to keep it lightweight, but every minute that pass without a sign of life is given me the creeps. So if you read it, just let us know via twitter or YouTube you are unharmed and alive.
where are you :( hope youre alright
alex ginting (10 months ago)
Voornaam (10 months ago)
Hi man, how do you track your coins? I use bittrex and i never really seem to see how much profit or loss i have made.
Bruce Bailey (10 months ago)
Solid information.  I would love a video on other trading factors such as limit, stops, ect when directly purchasing or selling assets. Thanks for everything you do.
xFails100 (10 months ago)
David Trotta (10 months ago)
nick! You can't go away for three days we are dying out here 😂
soyanutella (10 months ago)
Where is Datadash???
soyanutella (10 months ago)
It's weird coz there has been so many news between the 26 and today.. Hope he's alright
Tiboski (10 months ago)
The last thing he said was on hes twitter: "Nicholas Merten‏ @Nicholas_Merten 26 sep. "Permit me to issue and control the money of a nation, and I care not who makes its laws." - Mayer Amschel Rothschild " Maybe they took him! fuck me i'm scared xD Cant wait for him to show up

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