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Title: Bitcoin Trade Strategy Question Post by: Cato on September 05, 2011, 03:16:10 PM Hello,
I'm new to Bitcoin. I'm in the process of getting my first Bitcoin mining rig built, and I'd like to start trading Bitcoins soon. I watch the Bitcoin markets frequently at http://fnoose.com/bitcoin/arbitrage/ (http://fnoose.com/bitcoin/arbitrage/) as it seems to give me the simplest breakdown as to what the markets are doing. I'd like to know what trading strategies are being used successfully to trade Bitcoin. Would any of you be kind enough to detail your trading strategy in layman's terms and explain why and when it works along with the strategy's shortcomings? Thanks! Title: Re: Bitcoin Trade Strategy Question Post by: ClownCoins on September 05, 2011, 03:25:10 PM The most effective strategy seems to be to offer something in return for bitcoins and then disappear without trace. You may be able to gain some marketplace advantage if you can come up with an innovative new twist on this basic mode of operation.
Title: Re: Bitcoin Trade Strategy Question Post by: Cato on September 05, 2011, 03:36:27 PM Hahah. It is certainly true more than a few people have started online ventures trading goods and services for Bitcoins only to fold quickly. However, what I'm asking about has to do with Bitcoin trading in side of Bitcoin Exchanges. :)
Title: Re: Bitcoin Trade Strategy Question Post by: satyagrahi on September 05, 2011, 03:38:51 PM You might also find this site useful:
http://bitcoinwatch.com/ Title: Re: Bitcoin Trade Strategy Question Post by: ClownCoins on September 05, 2011, 03:46:06 PM Ok then, what I would do is scrape these forums and analyse them for (and I'm being very simplistic here) happy/optimistic words vs. downbeat/pessimistic/red-flag words and trade based on those sentiments.
You'll need some method of discerning and excluding false signals injected by the masonic professional veteran trolls from somethingwaffle.com Title: Re: Bitcoin Trade Strategy Question Post by: Cato on September 05, 2011, 03:53:55 PM Satyagrahi,
That is a nice site, I just bookmarked it, thank you. I've read http://blog.bitcoinwatch.com/ (http://blog.bitcoinwatch.com/) from time to time. That's actually relevant to my question. Bitcoin isn't a traditional financial tool and it does not seem behave like one either. So, I don't understand the mechanisms this blogger is using to predict the Bitcoin market movements---let alone the strategies that others are using to successively trade Bitcoin. The only thing that jumps out at me is that there does seem to be a 12 hr up/down cycle in the Bitcoin market, but I could be mistaken. |