Yea, it will be even more profitable when one or both of two things occurs--
1 - gox lowers fees due to competitive pressure.
2 - gox increases the frequency of price updates (or volume increases to the point where this makes sense or just happens--not entirely sure how quotes are updated currently).
But, as I said, it is a decent profit now (considering that it's a 'set it and forget it' scenario). And, the more capital I have to throw around, the more so it will be.
Another direction I will most likely take this: a sort of meta-trader [broker] platform; i.e., executing trades on the exchange with most favorable rates (or locally).
Topic: automated day trading - page 2. (Read 6113 times)
I did daytrading by hand when I had time and the percentage of spread was bigger (ie: during 1 USD days, I could profit 30% weekly).
Percentage of spread I mean: a 10 cent spread at 10 USD, is less than mtgox fees. but 10 cent spread at 1 USD is 10% of spread (thus potential profit in a single sell/rebuy transaction)
Percentage of spread I mean: a 10 cent spread at 10 USD, is less than mtgox fees. but 10 cent spread at 1 USD is 10% of spread (thus potential profit in a single sell/rebuy transaction)
It is relatively easy. I did also develop a bot like this, and it works quite well. The reason for this is because market is very liquid. You can buy and sell with a small profit every day, just by watching indicators (such as RSI or MACD).
I doubt that you've developed a trading system that will perform that good over the long term.
If it was that easy everyone would already be using such a system at the stock market.
If it was that easy everyone would already be using such a system at the stock market.
I've developed a bot for gox trading (hosted on google app engine) which I've been using with reasonable success so far (avg profit 1-3% per day). I am considering opening it up to outside investors and want to get an idea of the demand for such a service. I will most likely settle on taking a percentage of the profits that it generates (as opposed to alternate pricing schemes).
It is certainly not as profitable [longer term] as simply holding at this point but it does offer the advantage of capitalizing on the near-constant noise (and is thus a good avenue for diversification). I will, of course, over time increase its efficiency and customizability but it is already reasonably efficient and customizable.
It is certainly not as profitable [longer term] as simply holding at this point but it does offer the advantage of capitalizing on the near-constant noise (and is thus a good avenue for diversification). I will, of course, over time increase its efficiency and customizability but it is already reasonably efficient and customizable.
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