I've experimented with market making with other currencies before, but don't have the muscle to do it with this one.
To give you n00bs some perspective, whoever is market making (likely risto + one or two others) wants people to sell to his bids and buy from his ask.
The lazy man's way is to just set up to big ass walls on each end, and let people buy and sell into them, while they reap the profits from the difference.
Because of bots though, it's possible to set up automatic moving ask/bid walls that scale up slowly into an absolute cliff vs. trying to do it by hand.
Market making can be very profitable, but (and some of you more experienced can correct me if I'm wrong) they end up getting fucked over if there is a sudden demand spike and people eat through what they have to offer too quickly. In this case they will be left holding tons of bitcoin after having sold through too much Monero and now must either permanantly forfeit that amount or buy back at a higher price.
My guess is that risto/others have enough Monero so that any sudden spikes in demand that eat through their available supply won't be minded. If you know you *want* to sell some of your stash, market making is a great way to potentially multiply your sale if you wouldn't mind someone gobbling it up at the current price anyway.
But unless you have your own trading bot, be prepared to joust with bots reseting their bids/asks (although you can fake them out with properly stacked bids/asks and make them buy your overpriced Monero or sell to you cheaper if you are savvy).
BTW a week ago you were hoping better prices for XMR.
It looks strongly we are going to get them.
My goal is to load some coins still lower than the current price (trading position).
I think the patience is the virtue which pays well with XMR as Monero is not a sprint and quick get rich scheme - rather it is get ultra-rich in the longest haul. Therefore there is no need for margin buying as the interest rate for btc is hefty (especially on these days of correction). Better to invest with your own btc and for the long haul.
For me XMR is a coin that I am most likely in for decade or so (I reserve the right to sell my coins earlier in case of emergency though). Yes I am trading but I am not out of XMR even when I sell some of my stash as I see the potential to go lower over the coming weeks/months. The growth of Monero is healthier when it is slow enough to discourage margin buyers (however at some point we cannot avoid them entering to the market - I certainly hope nobody has open margin long bleeding their precious coins away). When the margin buyers enter, it is time to exit IMO as they are forced to sell at some point unless they can meet the interest payments.
