Topic: BTC--->USD day trading possible? - page 2. (Read 1235 times)
NO just hold it. Look at the chart last 3 months you will see..
Have you tried using Bitstamp? For starters, they charge 0.25% on every successful trades and this is subject to change as your account gets verified. So at the current market rates, that would be $15/1 BTC successful trade. You can also try Kraken and Poloniex if you think Stamp wouldn't cut the chase. Just be ready on verification of your identity so you can trade easily.
Bitstamp one of my favorite exchange , they are the oldest one too , no doubt about how good the service.Coinbase is indeed sucks when it comes to taking fee , they are bunch of greedy people.
Just avoid to use poloniex especially when you planning to trade with big amount , my withdrawal pending for long time a lot of times.
Yes it can. as long as there is knowledge of trading. It is easy for you to trade in BTC-USD. Just keep in mind. Always look for good timings as you earn more than a bit of bitcoins. You've always bought down the bitcoins. And sell it when it's up.
Well, not USDT itself... but I did BTC/USDT in Poloniex and Bitfinex. You can also try using bots for trading Bitcoins against US Dollar Tether, I have one which I purchased from Gunthar... (I would like to sell mine now, because I stopped trading already and focus on something else).
Playing swing trade with Bitcoin and USDT is much safer than playing with other alts, as Bitcoin has a huge number of Marketcap and old chart patterns can be used as guide from its future movements.
Hi Friends,
Is it possible to do BTC--USD ( not any other coins) day trading? Which platform will be good for this?
I tried in coinbase but their fees is too high. I tried to do with 1 BTC and I end up loosing money. I sold 1 btc and they charged $80 then when I bought back again they charged again $80 so instead of making some money when btc price increaased about $150, I lost $10 because of fees.
So, is there any other platform that charge less fess so that at least I can make money if btc price increases about $150 or so?
Many Thanks
Is it possible to do BTC--USD ( not any other coins) day trading? Which platform will be good for this?
I tried in coinbase but their fees is too high. I tried to do with 1 BTC and I end up loosing money. I sold 1 btc and they charged $80 then when I bought back again they charged again $80 so instead of making some money when btc price increaased about $150, I lost $10 because of fees.
So, is there any other platform that charge less fess so that at least I can make money if btc price increases about $150 or so?
Many Thanks
Trading in coinbase oftens incur high fees. If you intend to day trade on a daily basis, you can try exchanges such as Bittrex that support USDT. USDT is a crypto coins that is pledged to USD price.
For day trding it is much more important to you must have good expeeirnce in day trading. because there is a big different between day trading and long term trading. In day trading you must have a good decision powerm so that you can take a quick decision, you must remain as active, you must study the market on regualr baases and you also need to chose such exchgane for day trading where the transaction fee is not so high, becasue you have take more than 1 transaction everyday, therefore its important to use such exchanges where the fee is reasonale.
Trading in coinbase oftens incur high fees. If you intend to day trade on a daily basis, you can try exchanges such as Bittrex that support USDT. USDT is a crypto coins that is pledged to USD price.
I will mention two things about your post:
1. If you want to use Coinbase do it only when purchasing FIAT currencies (don't convert from Crypto to FIAT when you're trying to trade, because as you've mentioned the fees are ridiculous on those platforms). So have coinbase only as a way to finance your wallet. What you want to use in an exchange like Bittfinex, Bitrex, Gdax etc. these exchanges are "specifically" designed for trading and the fees are much lower than what you would expect on Coinbase for example.
2. You've mentioned that you're hoping to make 150 dollars by purchasing/selling 1 BTC.. one BTC is currently valued at around 5.5k which makes your 150$ target only a 2.5% profit.. which is really low because the commission fees for trading are about 0.25% which means for a buy/sell order you'll be lieft with a 2% profit. That's really low and not worth "investing" one BTC to get that amount back. What you want to do is buy BTC and keep it! Until it appreciates a lot, not only 150 dollars (that's a waste of time/money/energy). Better to keep your order only on the buy side (try not to sell unless you really have to/need the cash).
1. If you want to use Coinbase do it only when purchasing FIAT currencies (don't convert from Crypto to FIAT when you're trying to trade, because as you've mentioned the fees are ridiculous on those platforms). So have coinbase only as a way to finance your wallet. What you want to use in an exchange like Bittfinex, Bitrex, Gdax etc. these exchanges are "specifically" designed for trading and the fees are much lower than what you would expect on Coinbase for example.
2. You've mentioned that you're hoping to make 150 dollars by purchasing/selling 1 BTC.. one BTC is currently valued at around 5.5k which makes your 150$ target only a 2.5% profit.. which is really low because the commission fees for trading are about 0.25% which means for a buy/sell order you'll be lieft with a 2% profit. That's really low and not worth "investing" one BTC to get that amount back. What you want to do is buy BTC and keep it! Until it appreciates a lot, not only 150 dollars (that's a waste of time/money/energy). Better to keep your order only on the buy side (try not to sell unless you really have to/need the cash).
Hi Friends,
Is it possible to do BTC--USD ( not any other coins) day trading? Which platform will be good for this?
I tried in coinbase but their fees is too high. I tried to do with 1 BTC and I end up loosing money. I sold 1 btc and they charged $80 then when I bought back again they charged again $80 so instead of making some money when btc price increaased about $150, I lost $10 because of fees.
So, is there any other platform that charge less fess so that at least I can make money if btc price increases about $150 or so?
Many Thanks
Is it possible to do BTC--USD ( not any other coins) day trading? Which platform will be good for this?
I tried in coinbase but their fees is too high. I tried to do with 1 BTC and I end up loosing money. I sold 1 btc and they charged $80 then when I bought back again they charged again $80 so instead of making some money when btc price increaased about $150, I lost $10 because of fees.
So, is there any other platform that charge less fess so that at least I can make money if btc price increases about $150 or so?
Many Thanks
If you have a Coinbase account use GDAX instead. It's their exchange and has lower fees (0.25% taker and 0% maker fee). You can transfer your money/crypto from/to GDAX instantly with no cost.
Hi Friends,
Is it possible to do BTC--USD ( not any other coins) day trading? Which platform will be good for this?
I tried in coinbase but their fees is too high. I tried to do with 1 BTC and I end up loosing money. I sold 1 btc and they charged $80 then when I bought back again they charged again $80 so instead of making some money when btc price increaased about $150, I lost $10 because of fees.
So, is there any other platform that charge less fess so that at least I can make money if btc price increases about $150 or so?
Many Thanks
Is it possible to do BTC--USD ( not any other coins) day trading? Which platform will be good for this?
I tried in coinbase but their fees is too high. I tried to do with 1 BTC and I end up loosing money. I sold 1 btc and they charged $80 then when I bought back again they charged again $80 so instead of making some money when btc price increaased about $150, I lost $10 because of fees.
So, is there any other platform that charge less fess so that at least I can make money if btc price increases about $150 or so?
Many Thanks
If you have a Coinbase account use GDAX instead. It's their exchange and has lower fees (0.25% taker and 0% maker fee). You can transfer your money/crypto from/to GDAX instantly with no cost.
BTC/USD day trading is only profitable when you hold a big amount of BTC and 1 BTC will do the thing.
But don't do it in wallets like coinbase or other, their charges are very high brother. Try it on exchanges like Bittrex.
But first make sure that you have your account verified as people are facing issues in verification. Once verified you can deposit your money and trade it to USDT (tether). You can earn good profits if you plan your trades well. Whenever you feel like withdrawing, withdraw it to your wallet from where you can get the money in your bank.
But don't do it in wallets like coinbase or other, their charges are very high brother. Try it on exchanges like Bittrex.
But first make sure that you have your account verified as people are facing issues in verification. Once verified you can deposit your money and trade it to USDT (tether). You can earn good profits if you plan your trades well. Whenever you feel like withdrawing, withdraw it to your wallet from where you can get the money in your bank.
It is possible if you have experience in day trading, if that strategy suits you and your skill set and most importantly if you have enough money to "weather the storm".
If you are new to trading, stick to buying the dip and hold. It works better in my experience.
If you are new to trading, stick to buying the dip and hold. It works better in my experience.
Have you tried using Bitstamp? For starters, they charge 0.25% on every successful trades and this is subject to change as your account gets verified. So at the current market rates, that would be $15/1 BTC successful trade. You can also try Kraken and Poloniex if you think Stamp wouldn't cut the chase. Just be ready on verification of your identity so you can trade easily.
do not you think that poloniex is easier for beginners?I am since I started trading only in Poloniex and this always gives me a definite advantage, certainly verification is the main thing in all exchange,
Poloniex I prefer because it is easier or I should try another place to trade?
I was still dalah beginner stage that's why I have not dared try to trade in other places
GDAX is what we recommend for Day trading involving USD pair , If you want more flexibility than BTCCHINA is a choice, the thing needs to be understand is that CNY with USD combination is also volatile so you can make a good margin if you are a Individual Trader.
Brad
Knowledge based support
Straddle.fund
GB
Brad
Knowledge based support
Straddle.fund
GB
Hi Friends,
Is it possible to do BTC--USD ( not any other coins) day trading? Which platform will be good for this?
I tried in coinbase but their fees is too high. I tried to do with 1 BTC and I end up loosing money. I sold 1 btc and they charged $80 then when I bought back again they charged again $80 so instead of making some money when btc price increaased about $150, I lost $10 because of fees.
So, is there any other platform that charge less fess so that at least I can make money if btc price increases about $150 or so?
Many Thanks
Coinbase is never the right option for one to trade bitcoin and USD. Better go with bittrex and poloniex. But be very very very careful with bittrex, they are banning and closing accounts recently without any prior notice and they won't return your money back to you. And poloniex requires KYC documents just to increase your limit's from 0$. Better keep your documents ready and make sure you have done enhanced verification in these exchanges, other than that you're all set to go. Is it possible to do BTC--USD ( not any other coins) day trading? Which platform will be good for this?
I tried in coinbase but their fees is too high. I tried to do with 1 BTC and I end up loosing money. I sold 1 btc and they charged $80 then when I bought back again they charged again $80 so instead of making some money when btc price increaased about $150, I lost $10 because of fees.
So, is there any other platform that charge less fess so that at least I can make money if btc price increases about $150 or so?
Many Thanks
Why not kraken ?
I recommend GDAX if you are only trading USD to BTC. If you use a limit order to purchase BTC, you will not be charged any fees. GDAX is the exchange for Coinbase, and the only thing Coinbase has is a nice GUI system. The system is not worth the fees.
The easiest exchange to buy and sell for USD is gdax. But they only have Bitcoin, Litecoin and Ethereum. I like to buy and sell for $, i am stuck with trading only these 3. Other altcoins i trade for Btc on bittrex. 
Thank You for your reply guys. it's very helpful 
Have you tried using Bitstamp? For starters, they charge 0.25% on every successful trades and this is subject to change as your account gets verified. So at the current market rates, that would be $15/1 BTC successful trade. You can also try Kraken and Poloniex if you think Stamp wouldn't cut the chase. Just be ready on verification of your identity so you can trade easily.
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