Is day trading on Coinbase profitable? - page 5.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: louise123 on May 08, 2015, 01:52:55 AM

Quote from: bitcoinrocks on May 07, 2015, 07:05:21 PM

I've been watching the BTC price for what seems like forever. Coinbase charges 1% in fees. I figure if I can (for example) buy at $225 and sell at $228, then I've made over 1%. It doesn't sound very hard. I will have my coins instantly if I register my credit card on Coinbase, right?

EDIT: Plus then I get to spend more time reading the hilarity scrolling up the BTC-e trollbox.

As far as I know, the exchanges now are full of trading bots.
And that is not so good for trading in my opinion.
They tend to mess with the price, and that is why there hasn't been any price improvement for a while.

unclear what you're saying? bots lead to higher volatility? or lower?
I would say neither is really true. Bots have little net effect on price action or long term rates.

louise123

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Quote from: bitcoinrocks on May 07, 2015, 07:05:21 PM

I've been watching the BTC price for what seems like forever. Coinbase charges 1% in fees. I figure if I can (for example) buy at $225 and sell at $228, then I've made over 1%. It doesn't sound very hard. I will have my coins instantly if I register my credit card on Coinbase, right?

EDIT: Plus then I get to spend more time reading the hilarity scrolling up the BTC-e trollbox.

As far as I know, the exchanges now are full of trading bots.
And that is not so good for trading in my opinion.
They tend to mess with the price, and that is why there hasn't been any price improvement for a while.

Chef Ramsay

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The best thing about Coinbase is that it makes it easy for everyday folks in the USA to buy/sell bitcoin. I remember when bitinstant was the only option but now CB makes life way easier to purchase bitcoin by hooking up one's checking account. I bet the lion's share of US interests of normal types are buying on CB.

futureofbitcoin

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the markets are a zero-sum game /cliche

But the fees are like a house edge at the casino; making your EV negative. So you can expect to lose, unless you're really lucky or really skillful.

MRKLYE

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I believe day trading is still profitable everywhere if done correctly.

Of course the big problem with this is that the markets are basically a fugazi and you never know which way its sliding.
I think overall I've likely made < .05 BTC daytrading (or attempting to) and the trick is to have large sums to buy and sell from what I have learned.

Go for it. If you think BTC is going to go up Buy a crapload. wait for it to raise and sell.. Wait for another dip... Rinse and repeat!

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: bitcoinrocks on May 07, 2015, 07:05:21 PM

I've been watching the BTC price for what seems like forever. Coinbase charges 1% in fees. I figure if I can (for example) buy at $225 and sell at $228, then I've made over 1%. It doesn't sound very hard. I will have my coins instantly if I register my credit card on Coinbase, right?

EDIT: Plus then I get to spend more time reading the hilarity scrolling up the BTC-e trollbox.

Trading doesnt sound very hard. just increase your balance 1% a day and you're rich!

The catch is that its very hard to win consistently. The days where you lose will
make it like taking 1 step forward 1 step back...add in the 1% fees and you
start to see its not so easy.

bitcoinrocks

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I've been watching the BTC price for what seems like forever. Coinbase charges 1% in fees. I figure if I can (for example) buy at $225 and sell at $228, then I've made over 1%. It doesn't sound very hard. I will have my coins instantly if I register my credit card on Coinbase, right?

EDIT: Plus then I get to spend more time reading the hilarity scrolling up the BTC-e trollbox.

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