Limit catch-all orders: Q&A

This is a Q&A session with Micah 🥶 concerning my limit catch-all orders article:

Micah 🥶: Is the difference between these "catch-all"s and a stink bid simply that you're looking for markets with low liquidity that you know will produce these wicks? How are you even sensing market conditions are right to place such bids? What's your hit-rate?

1. Nah. I have catch-all orders all over the FIN marketplace, or, more specifically: on the order books that have tokens I care about. Low-liquidity order books do have some amazing spikes, but if those spikes are with a token I dislike/don't see a future in, I shy away.

2. The catch-alls are 'anti-market-conditions'-based. I 'fire-and-forget.' That is: I place a catch-all, then go on with my life.

   I don't base my investment strategy around catch-alls. If a catch-all hits, great! If not, I can wait. So a catch-all is a tactic, not a strategy.

3. I do, in the end, care about catch-all hit rates, so I monitor the order books, and focus more on placing catch-alls where I've seen craziness before.

   Most of the time, I place catch-alls, then simply wait a week, a month, a half-year. Even then, the returns are fantabulous.

Now, 'sink-bids' vs. catch-alls.

There are sell catch-alls, as well, and sometimes I have more success with those than on the buy-side. So a sink-bid may focus only on the dips (?), but catch-alls cover both rock-bottoms and sky-highs.