Thanks for the advice BadBit, I was actually looking for a decent BitCoin chart and the one you mentioned seems to do the trick. BitFinex certainly looks like something for me to check out, I hadn't heard of it until now and the option to also short BitCoins entices me.
Thanks again.
Topic: New to trading Bitcoins (Read 594 times)
Day trading can definitely be profitable and especially with BTC because of the large swings.
Where there is chaos, there is money.
Places like bitfinex let you short the market which is a fairly important option if your day trading.. As market movements are mainly led by news you should arm yourself with a good news aggregator like BitcoinWire.net and charts like bitcoinwisdom.com.
RE investment - this should always be what feel comfortable loosing. Never let your emotions take control of your trades.
HTH
Where there is chaos, there is money.
Places like bitfinex let you short the market which is a fairly important option if your day trading.. As market movements are mainly led by news you should arm yourself with a good news aggregator like BitcoinWire.net and charts like bitcoinwisdom.com.
RE investment - this should always be what feel comfortable loosing. Never let your emotions take control of your trades.
HTH
Thanks for the reply saif92, I suppose you are right about the markets being unpredictable many of these alt coins seem to be rather volatile. Anyway I'll see how it goes.
Its unpredictable world no one going to give you any tip about this I lost some in few days in alt coins now nust releasing on keep btc its best option right now
I am relatively new to this forum, but I have been following cryptocurrencies for awhile without really getting into trading them on a day to day basis. Recently however, I have been more inclined to give trading a go. I've been messing around with a bit of Python code to simulate a few trading scenarios. The results seem relatively decent although I have no clue how to apply this in the real world as I have little to no idea on how long BTC transactions take nor do I understand the relative fees involved.
I have been thinking about going down the route of Arbitrage, but I have noticed that there seem to be quite predictable dips in the BTC currency that seem to rebound fairly quickly a day later, i.e. I could simply buy BTC in these 'dips' and sell them at the higher price.
Anyway to someone relatively new to cryptocurrencies is day trading Bitcoins and for that many any other currencies relatively profitable, and with that how much investment will I need to see a worthwhile return?
I have been thinking about going down the route of Arbitrage, but I have noticed that there seem to be quite predictable dips in the BTC currency that seem to rebound fairly quickly a day later, i.e. I could simply buy BTC in these 'dips' and sell them at the higher price.
Anyway to someone relatively new to cryptocurrencies is day trading Bitcoins and for that many any other currencies relatively profitable, and with that how much investment will I need to see a worthwhile return?
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