For a while now people have been trying to figure out why there is so little trading volume on the DEX. I've traded forex and stocks for over 10 years and have written dozens of trading bots (Expert Advisors) in the mql language. I've turned $2,500 into $50,000 in 6 months. I've also turned $50,000 into $20,000 in 6 months as well. I think I have a pretty good idea of what traders need and expect from a platform.
1.
Shorting in the DEX is cumbersome and confusingI recently tried to short using the DEX. I borrowed CNY and then sold that CNY for BTS. I ended up getting margin called as BTS fell in price. I'm ok with being wrong about a position, but I'm very confused with the mechanics of how this happened. I also had no idea what my position was worth throughout the trade, and I'm not even entirely sure how much I lost. Shorting needs to be streamlined and simplified. The borrow/sell thing is too many steps and not knowing the positions value during the trade is borderline scary.
2.
Is there a way to put a stop loss or take profit order?Because right now I can't figure out how to do it. This means there is no money management ability. Without the ability to manage a trade, the DEX is unusable for serious traders. There needs to be at a minim stop loss orders. There really should be a way to put trailing stops in as well.
3.
Indicators are shaky at bestRight now there are 4 indicators and 2 of them are moving averages. The RSI doesn't appear to be working as the only reading I see on the more liquid markets are 100, 50, or 0. It looks like an EKG witch tells me something isn't working correctly. Not all traders use indicators, but many do.
These are just basic GUI things that are preventing traders from using the DEX. It doesn't even include the inability to use leverage. Just fixing the 3 things above will bring much more utility and liquidity to the dex. I will guarantee it. The people that originally designed the DEX were not traders. They thought poloniex was a good interface to base their platform on. Unfortunately, poloniex is not a good platform. A professional trader would never use Poloniex. Poloniex's platform is modeled off some cheap retail trading platform.
How do we fix this??Right now we are consumed by petty fee debates and if we should keep calling ourselves DPOS. These things are not that important right now. It's not what will drive mainstream traders to the BTS platform. What is needed is
A PLUGIN FOR METATRADER 4. While it isn't the most sophisticated trading platform, it's the most widely used and known. It's also light years ahead of the current DEX. What I propose is that instead of
@dannotestein and blocktrades using a worker proposal to fix basic blockchain bugs, rather is work on creating a plugin for MT4. They are already an exchange and have a good understanding of BTS. I know it's not as easy as fixing "bad coding techniques", but getting this plugin for BTS would do more to improve the market cap and utility than anything else.
Topic: Why there is so little trading volume on the DEX (Read 11101 times)
