'Best Price Program'?

Hi @canesin and Team.

I am finding a significant lag in Nash market price (every single time I trade) compared to other exchanges.
For example, recently I set a sell bid for BTC at 11030 on Nash (not exact price). I observed how market price on other exchanges was 11060+ before my BTC sell bid got filled on Nash.

I would have cancelled these sell bids and moved my volume elsewhere only for that I am a big fan of this project and wish volume well.

However, I will not be keeping my trading on Nash if this is to continue as I am missing consistent profits.

Please don’t advise me about arbitrage opportunities. I expect my trades to be filled when the general market price hits my desired level and not 30 minutes later when all other exchanges are 30$+.

Please look into this.
Thanks

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Isn’t this a consequence of the best buy program?

You can’t have both the best buy anf best sell price, right? So yes prices are slightly lower, but it also means you would buy back lower, doesn’t it?

(and this way, prices are lower for a first entry, which is quite attractive)

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I think it was Best Price Program, not best buy program

You’re right, my bad! But I don’t understand how that works then… How can you have the best buy and sell price simultaneously?

It seems to me that you have no idea how the game of trading work.

I suggest that you go learn how and why price move the way it is, and see how you can use it for your advantage. what you ask for is not possible, and shouldn’t be done by the M.E. the only thing that might be thought of is market buy protection in case of low liquidity.

if you want to compare prices to other exchanges, just use a script, bot and yes arbitrage. That’s how markets work.

Yes… It can, if the spread is tighter when compared to other exchanges. If other exchanges are offering ETH at 370/ 372 (Buy /Sell) and in nash if we could offer at 370.5/371.5 then it will be the best price

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Yes, I’m aware of that mathematical possibility. But it’s going to be hard beating top CEXs at that game though (< 0.01 % spread). I don’t think this is what the best price program is about.

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This is a funny response. It is exactly why I said in my post ‘please don’t advise me about arbitrage opportunities’. Believe me, I know how trading works. I’ve known pretty well for the past 10 years how trading works.

The list price on Nash does move in tandem with other exchanges but the trades do not follow. I believe it is due to a lack of bots trading on the exchange and perhaps it will be fixed in time. But, it is frustrating right now

I appreciate your response. I agree, the title of my post is not the best and you are correct about the ‘best price’. But when the markets move to a price above my sell price and Nash list price also moves past my bids, but my bids do not sell. This is frustrating.

As you already mentioned in the post above, it will get better soon with more bots trading and more users coming here with the new affiliate program

But that’s actually the thing, NASH can’t have and basically exchanges shouldn’t have nothing to do with price movement, only users do.
I assume that you probably got hit by arbitrage bot that was faster than you. manual traders can never win against machines. you can protect yourself better by using bot, or just avoid limit orders if you feel that you can get hit by price movements .

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No buddy,
I was sitting on my PC, looking at the lag in the Nash market compared to other markets. It took a long time for the Bot on Nash to catch up to fill my sell orders. I watched the price at 11060-11100 on Binance and Coinbase for at least 30-1hr before my sell bids at 11030 got filled on Nash.

This is why I say, I could have cancelled my sell orders and moved by BTC to Binance to get a quicker and higher sale price compared to Nash.
This happens frequently for all my orders for buying and selling. I believe it is due to the lack of Bots on Nash right now.

Again,
Nash is lucky that we have people like me passionate about the project. If I was an outside trader, I would not bother trading in Nash with these issues. I would move to another exchange.

“I believe it is due to the lack of Bots on Nash right now”.

  1. There is low volume so price mostly don’t follow other exchanges mostly due to arbitrage players, bots or manual traders that compare prices.
  2. you practically ask an exchange to trade against it’s clients which is not what NASH built up to be.

you should know the risks on trading low volumes, the only protection NASH can do is for market buy like cancel order if slippage is some % from spot price.

I think you are confused as to what the point of this post is.

It is good for me If my sell bid gets hit in a timely manner which reflects the overall market price and not one hour later compared to all other exchanges. It does not mean Nash is trading ‘against its clients’ when I can successfully and quickly trade.

This has nothing to do with ‘low volume’ it is simply that there are no successful (or very slow) arbitrage bots actively working within Nash markets, If I am going to trade a Swing Failure Pattern, I need the bots/ order books to fill my bids in the same manner that Coinbase or Binance would.

If my Take Profit (sell bid) is at 11030 on Nash and suddenly market price hits 11100 on Binance and Coinbase then I need Nash market to reflect this quickly and therefore, fill my sell bids. If Nash takes 1hr to fill my sell bids while the market begins to dump… I may miss my profit on this trade as Nash is taking too long to fill my bids and may miss the activity altogether. I hope you understand this now.

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As you noticed past week a partner changed their algo and it is not behaving as it should. I agree with your comment that the order should have been taken. We are deploying more capital with other algos to guarantee we reestablish the best prices.

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Thank you for your acknowledgment and response. I look forward to this fix

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