"As of writing this a price of Bitcoin is 14750 USD. The BID is $14733.000 and the ASK is $14760.000."
In this case you can bid $14734.000 and get your btc $16 below the current price, you're order won't execute immediately like it would if you offered the ask price. Having a large spread is not necessarily a bad thing, pros and cons.
Yes, I hear ya. Where I'm going with this is it improves your probability of being successful in the long term if you're trading in tight markets. For example, if you trade Apple stock, it has a penny wide bid and ask, so you can enter and exit trades without having to worry about loosing money there.
Thanks for the comment!
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But if you wait around until after-hours trading, when volume and liquidity decrease, spreads increase, and you can buy AAPL cheaper (if the trade executes). That's my favorite time to put in orders just in case someone wants to dump stock and is willing to sell below what it's worth.
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