Bitcoin Forum

Hello everyone,

I thought of giving day trading a go, I do have a limit of funds to invest into this project, and it's XXXX, I am also aware that I CAN and WILL most likely loose funds doing this, but I am doing this for "fun" and my limit or spendings on this project is not making me homeless nor is it going to make me cry, if I do end up loosing.

I just wanted to know, what kind of platform everyone is using for day trading, or trading in general, which site should I avoid, give me your best suggestions :-)

Thank you!

Assuming you're mostly going to do ALTs, both of these are what you want.

https://poloniex.com/ - tends to have more volume, lower fees but chart sucks.

https://bittrex.com/ - better charts. I prefer Bittrex for a variety of reasons but everyone has their preference.


If you're going to get serious about things then you should probably sign up at https://www.coinigy.com for their charting and the ability to set alerts etc.

And yes, you will lose especially if you trade on emotion, listen to all the hype on the forums and troll boxes etc. Stay disciplined, set out some rules for yourself and stick to them no matter what.

Thank you for your post Viper1!

I will take a look at Bittrex at first, as it seems like a good place to start out, also coinigy!

And that is 100% what I am going for, I won't trade on emotion, nor will I listed to the forums etc regarding "selling" or "buying" since it can go both ways really, I will buy, sit on my hands till I reach the point I feel comfortable and then sell :-)

Thank you once again!

i personally prefer bittrex.com with poloniex the high volumn can mean that price can easily go against you especially when you want to enter a trade as entry is very important. you can also try liqui.io

Be warned about Poloniex they often have technical issues which can result in big losses from crashes following it. It does however allow you to margin trade to earn bigger profits (or losses).

Thank you for your post vatived22

I have heard stuff about Poloniex, sadly not the best, one of  them being the techinal issues they are having, can make it worse for you in the long run

Thank you for your post findingthemoon

Yes, so I've heard, that is also why I am staying a bit away from Poloniex for the time being, it's too "scary" regarding the technical issues they are having at the moment.

You already received some good advice about where to begin to trade but one of the most important things is to not get carried away and try to trade just to trade, trade when you see an opportunity to make money, if you don’t see it then wait, the markets are not going to disappear.

I agree, this two exchanges are more reliable to me because there many traders and turnover is huge. Volume are big enough to trust this both exchanges. I may also add to OP that do your own personalized research before you jump, be updated on each coins or cryptos being traded because this is your arm in dealing to start cryptocurrency trading.

Another suggestion I have is c-cex.com it is also a nice exchange for me like those mentioned by Viper1 it also got big volumes of transactions and many altcoins to choose from if you really want to day trade. You should avoid using yobit.net since their support team sucks and many altcoins listed there are just shitcoins. Another suggestion I got is that before investing, look up the altcoins you will buy here in bitcointalk if they got their respective announcement threads there and see if it is good or not.

Enjoy, until you realise a buy and hold strategy makes you more money and takes up less of your time.

You will enjoy, until you are aware of the buy and hold strategy. Which makes you more money. And can spend less time.

Sure, as long as you buy only bitcoin and only if the market is continuously rising.  For altcoins, it can usually be the kiss of death.  For some--lately--buy and hold has worked for,  but it's really risky.

And OP, be extremely careful with using margin or short-selling.   Those two things have wiped out many day traders.

Good luck to you buddy as long you do know the risk on trading it would be just fine and it seems you do like to trade on bittrex which is also a good choice.Just remember about the basics and fundamentals on day trading and make your funds do hold as long as you can and don't let that you lose it all so easily. :)

yes you need to be careful while investing your money in altcoin, it is too much important to get good information about the altcoin where you are going to invest your money. i personally like to get some useful information about altcoin where i want to invest my money and when find it fully trusted then i invest my money there.

 Don't get Cryptsy'ed.  Whole trading exchanges can and DO just vanish with all your coins sometimes.

Hello,
You can check my signature if you want some altcoin to be traded.
It is open at livecoin website for trading.
It is increasing slowly but still if you buy a lot of it you will feel the profit somehow.
Plus, this is a really promising coin and the developers are really into sharing it to make more people invest with this coin.
Thank you.

I think all the exchanges age good to be use for trading altcoin. But still  I am using bitrex. As there I feel myself more secure and comfortable. As I never find any technical issue with that, but I always take care of it to invest such amount of bitcoin in trading altcoin that I can afford to lose.

Yes, it is too much important to study the market. As there are so many altcoins which are almost dead and if you will invest your money there you will just lost your money there and people shows no interest there. I think you need to study about the coins where you want to invest your money and when you become satisfactory only then try to invest money there.

Start off on Yobit. It's a shitty exchange and not to be trusted, but it's easy to use and there are a lot of options to choose from. Deposit $10 or $20 worth of Bitcoin to get started. Invest in a handful of coins you think can do well and watch them. See emerging trends and experiment with what works for you. You'll probably lose this money but that's okay. It's just to get your feel. Once you think you've got what it takes you can move on to Bittrex and Poloniex with larger amounts of BTC and start working for profit.

What does that mean, exactly?

And in addition to polo and bittrex, I'd suggest Yobit.  They're kind of an underrated exchange, and I'm aware of all the customer service complaints.  They do not have good customer service.  But they're definitely reliable if you just want to trade altcoins.  They have many to choose from.  Watch out, though, because MOST of them are completely awful and aren't worth trading, and the markets are extremely thin.  You usually won't get the price you want either buying or selling.  If you stick to the most liquid ones you can do OK.  Good luck, my man.

Btc-e is fast and decent lots of pumps and dumps. Make sure you buy when you think it is low and try to sell for 3 or 4 percent each time at least. You could double what you have in a week if you don it right.

This kind of thinking is something I think we should avoid since we must concentrate on making profits and not in a particular amount we would like to win, sometimes the markets are so bad that if you make any profit you can consider yourself lucky, so concentrate in doing good trades and the money will follow.

OP here

I am not gone, there was just so much info added to the thread, I really appreciate it, I am currently in the works of day trading, will update :-D

You definitely will lose money at first. Part of the learning curve. There are plenty of online resources for beginning traders. The best advice I could give someone is to trade on paper for at least three months until you learn for yourself whether you have a chance of making money. 95% of traders lose their trading capital and quit. However some have talent for it, you may be one. You would learn faster if you could find a mentor or a trading club where experienced traders could help you.

I would recommend you not take on day trading at first. Instead concentrate on trading longer time frames where you expect to be in a trade for at least a month. Otherwise the professional day traders will eat you for lunch.

Go to http://coinmarketcap.com/ and concentrate on the top ten coins. And remember you are trying to beat a buy and hold strategy. That is, can you make more money trading than just buying bitcoin and watching it go up in value. Remember: your goal in trading altcoins is to increase your bitcoin. If you are actively trading and your bitcoin reserve is going down best to stop trading.

How to win at a Casino 101.

Step 1.) Do not go to the casino.
Step 2.) Follow Step 1.

If you're new to day trading, unless you get lucky, most likely will get eaten alive by sharks or you'll survive for a while until a whale swallows you whole.
Most of the traders lose money, and even 90% is a conservative estimate. If you're a beginner most likely going to get rekt.
Trial and error (taking a lot of Ls) before you can roll with the big boys.

Best strategy for any class is to Buy and HODL!

Try bittrex.  If you indeed have the time, go for it.  But if not, I suggest you go for long term trading-Less stressful.

I also think that Kraken.com should be added as an addition to the list others have provided.

Poloniex & Kraken by far win the war for me. Security wise, I prefer Kraken, especially if you are a US citizen.

Good luck man, go make some money!

Bittrex! Polo has been going thru some small issues lately