Topic: Does anyone "Day Trade" Bitcoin - page 5. (Read 13303 times)

Yes, there's a lot of traders that trade bitcoin daily, but what I mean for those traders is not same like you Imagine, buying bitcoin that
you can withdraw any time. nope, they trade it as a share or stock. Eg: Forex trading, Etoro
they trade it just like Apple shares and Google shares, bitcoin sometimes in one day can make you earn/loose real money !

many people has daily trade out there but i think the traders not always sells and buys at the same days because usually they will see the market trend and they decide will sells or buys on the particular prices to get profit or cutting their losses and regarding the sites i think plenty big exchange sites with a lot of active traders such as poloniex or coinbase

an exchange is a place (a website) where you to exchange your money to bitcoin and vice versa. in other words sites that you trade on such as Coinbase.

the 1% is pretty high compared to other places. i am not sure about the exactly percentage of each of these places but you can check them out yourself. they are usually 0.15 to 0.25% for each trade depending on some stuff like the amount you have traded before, some places have a fixed percentage some don't.

From what I noticed, I can tell you that bitcoin day trading is only really profitable if you have access to bitcoin exchanges located in exotic places.
What I mean by that: on Indian, African, European and Chinese exchanges price usually differs greatly. At some point it might reach even 20%
So if you can establish Indian, African <=> western bitcoin trading - the profits are there.

With Bitcoin the best strategy is buy and hold

We still have many day traders but it is not getting rewarding again because people find out that even when making profit on their trades transaction fees end up eroding the profit of them.

You can try it out, but i would not give anything on somebodys opinion. Everybody has a own theory how it should be done, and everybody has good advice, at least they think it is good. People get lucky and think it is there skill. You need to find out for yourself if you can do this with profit. Just give yourself a virtual Bitcoin and pretend to day trade. After a month you will know more about how profitable you can be. I would advice against using a real Bitcoin as you will probably lose it.

I would not advise you to do day trade In Bitcoin. The prices fluctuate like anything, this is not your average day trade. Though the profits can be huge but if a bet goes wrong you may make severe looses. My first advice for you to. Would be to study the charts see the moments for at least a year. Keep up with the btc news and hop on to speculation board then try your luck, but would advise you again to stay away as a gamble can be risky.

The people who will answer your question and the ones that will give advice are the losers in day trading. The winners will never teach you how to trade well. Why would they help others? That would make it harder for them to make a profit. Be careful with the answers you get and dont readily believe any of them.

i did in the past i learned few stuff but not so much, about for example bollinger lines, that if those get out of the average you need to short or long

but besides this i still find it too much of a gamble, and also many other agree that TA is bullshit

Eighty percentage of traders are day traders or intra-day traders and because of this there are always money to make daily. How do you day trade? You start you day trade analysis by spotting long timeframes trend market, such as weekly and daily charts. You can used lower timeframes like one hour or thirty minutes timeframes for buying or selling signals. This post is just for your information and not an advice to place trade because financial markets is a very risky venture and never place trade with money you can not afford to lose.

Hello,
     Day trading is a rush, for some people. 
    I bought into one of those catchy, over-promise /under-deliver companies that sell a product which they call software, and  sometimes they claim to be selling an "algorithm" that automatically does a set of trades.  (binary options.)which, to me, means the same thing as a  slot machine. The reality is they were cleverly disquised sales people from  brokerage they recommend to do your trading.
They actually did earn me money - and out of 15-20 Daily trade recommendation they always had two positions dedicated to bitcoin.   They were always going.   The other suggested trades varied .  It's a lot like gambling but you can swiftly kiss money goodbye if you act impulsively.  On the other side of that, when you choose correctly you will be floored when you see the profit. ... a lot of money can be made very quickly.  Can't say I know a good broker to take your business too, but if you pick 3 brokers and tell them all that you want to select a broker, today, and tell them you won't decide until you talked with all 3 candidates, and they will roll out the red carpet for your business because your money is valuable and why should you pick anything less then the best ... a good agent will help you if you are loyal especially.  It's fun.  Takes iron Will power, and if you Adhere to a system you might make good money.  Good luck !!

Day traders is always there no matter on what you trade its either on forex,stocks and crypto.There are really people like to do hedging and scalping and seeking an opening to make profits even on small amounts but still considered as good thing and thats the way they are earning since there are different types of traders.

You might want to visit https://btc-e.com/

1% isn't bad IMO, though some exchanges are lower.  Coinbase isn't bad, but they'll cancel your account mighty quick if you gamble or do anything wrong whatsoever.   And the tax man is now watching,  so be careful.

Yes I've done some day trading on Yobit.  Very exciting but easy to lose money.

So noob question:

What's an exchange?

I'm on Coinbase right now, not liking the 1% fee each trade.

I'm not a day trader but I know there are a lot of traders that are doing this. They are more of daily profits rather than longer and higher profit.

For sure those traders have ample time to manage their day to day trade and they can monitor each alt coins that they bought.

It can be effective if you are jobless but for people like me that can't monitor their trades on a daily basis, this is not recommendable.

It seems like it's doing an arbitrage or buy low sell process, well it's still profitable if you are holding large amount of bitcoin. and if you are wondering if this can be done and if this is still profitable, I can say it depends with the timing, if your timing is good, then it will be profitable. But if not, there's a downfall possibility to the point that you might lose your investment.

I actually am doing this one as well. But now i can't make it to trade on daily basis because of a busy schedule but the same thought is always on my mind. It just satisfies me when i get good satoshi's daily in trading rather than claiming  on faucets for the whole day.

I did a while ago, but my exchange have some trading fees, which makes high frequency trades more complex, because you have to work that into the price. It was also very time consuming for someone having a day job. The urge to trade during working hours, was too strong, and it might have jeopardized my day job. ^hmmmmm^

It is fun, but stressful in a very volatile market.