Topic: How, I'm making 10-15% daily. - page 2. (Read 1399 times)

I'm sharing this because of others copy me they make money but they also stabilize the markets and make the tendency to crash go away.

I have accounts on each the minor bitcoin exchanges. Plus an account on MtGox.

I keep $1000-2000 on deposit in each of the minor exchanges. The volume is so light just buying $300 worth can sometimes change the prices 5%.

I buy from wherever Bitcoins are lowest price, and in a small enough volume not to move the price. I only do this when mtgox is within 20% of the daily lowest price.

So if Bitcoins trade 92 on mtgox on another exchange they are 80-85 in small lots. If you buy $5000 worth the price will go to the same at mtgox. So I buy tiny lots and buy with patience, always buying close or below the daily trading low.

When Europe "wakes" during their daytime I have accumulated Bitcoin overnight. I sell as soon as the daily bull run hits mtgox, no greed here.

When there is a technical problem on mtgox blocking trades, the secondary markets are hammered and fall drastically. At these times I buy with 100% of my money. Its easy and quick to transfer a bitcoin to a secondary exchange during a panic, and it pushes the price "too low" since its hard to transfer cash to a secondary market so it can't handle the volumes. I have parked cash on secondary exchanges.

Don't buy on mtgox, sell there! Buy where bitcoins are cheaper with patience and foresight to park cash there and wait for the daily low.

This trading strategy works best with $3000-5000 not more. If you have more you can't keep it in play since volumes are too thin.

Its no secret there are "Russian" professionals with lots of cash running DDoS against the exchanges to panic the market so they can buy. They then sell during the run-ups and repeat.  They are making millions as smaller amateur but greedy investors sell in panics.