I was looking at the BTC futures tonight and noticed that the OI was only....1. Would you be concerned if you were the only trader that was holding a contract (in your direction) that held overnight?

harryguy 

I was looking at the BTC futures tonight and noticed that the OI was only....1. Would you be concerned if you were the only trader that was holding a contract (in your direction) that held overnight?

Yes I would be concerned because that most likely means there is no liquidity in the event that I would need to close the trade. I would stay away from a low liquidity market.

@harryguy You remind me of a similar mistake I'd made myself in my early trading days (way back 20 years ago).
I often use this story to explaint to traders the importance of being familiar with the instrument you're planning of trading.

Anyway, this was in my first trading year. I'd just learned of Forex, and I was happy to see that my broker also allowed Forex trading (in a closed arena between their clients only, but I didn't know what that meant).
I scanned currencies on my charting software (which was based on interbank data, but I didn't know what that meant), and saw a nice setup on Swedish Kronas.
I decided to put on a small position. My first Forex trade.
A week passed, and based on my charting software, prices were going up so I decided to sell and celebrate.

I entered the broker's software and tried to sell at a price near what my charting software was showing.
5 minutes, No fill.
Tried lower.
5 minutes, No fill.
As I was thinking of whether to go even lower, I noticed another issue: I could see my Ask price on the quote window, but there was no Bid price.
No fills, no bids, something's wrong.

A quick 1+1=2 - and I concluded - "hey, there must be a problem with the broker's software!! Let's call support!"

They answered.
I explained the situation.
The support guy took a very, very long pause. I still remember the tone of his voice as he politely answered, trying not to laugh:
"Sir, it seems none of our clients is interested in buying Swedish Kronas at this time. You may want to try again later"....

ZviTradingCoach 

The support guy took a very, very long pause. I still remember the tone of his voice as he politely answered, trying not to laugh

lol, i can imagine how the tone was, great storry

ZviTradingCoach 

@harryguy You remind me of a similar mistake I'd made myself in my early trading days (way back 20 years ago). I often use this story to explaint to traders the importance of being familiar with the instrument you're planning of trading. Anyway, this was in my first trading year. I'd just learned of Forex, and I was happy to see that my broker also allowed Forex trading (in a closed arena between their clients only, but I didn't know what that meant). I scanned currencies on my charting software (which was based on interbank data, but I didn't know what that meant), and saw a nice setup on Swedish Kronas. I decided to put on a small position. My first Forex trade. A week passed, and based on my charting software, prices were going up so I decided to sell and celebrate. I entered the broker's software and tried to sell at a price near what my charting software was showing. 5 minutes, No fill. Tried lower. 5 minutes, No fill. As I was thinking of whether to go even lower, I noticed another issue: I could see my Ask price on the quote window, but there was no Bid price. No fills, no bids, something's wrong. A quick 1+1=2 - and I concluded - "hey, there must be a problem with the broker's software!! Let's call support!" They answered. I explained the situation. The support guy took a very, very long pause. I still remember the tone of his voice as he politely answered, trying not to laugh: "Sir, it seems none of our clients is interested in buying Swedish Kronas at this time. You may want to try again later"....

Haha, that's hilarious!!