Bitcoin Forum

Howdy!

What's the best exchange for daytrade? Have around 50 BTC to play with. Should I go for highest 24h volume? Can I trust Bitfinexs volume?

Thanks

Poloniex is fun get into some alt coins and have lots of fun with that 50 BTC.

:)

Bitfinex currently has the highest volume of USD exchanges and offers 2.5:1 margin. The interest can get high on long positions but if you're just daytrading then it doesn't matter. Bitfinex also offers trading of litecoin and darkcoin (though the volume is low). However, there may be other factors you want consider before deciding to trade there. I cannot vouch for the trustworthiness of the exchange nor can I vouch for the trustworthiness of any other exchange. I actually wouldn't recommend daytrading at all on any exchange these days because the volume and volatility are so low that it is difficult as well as not worth the risks.

After a while trying a LOT

OKCOIN is great ...you cant argue with NO FEES ;)

Also there support is pretty good with margin trading as well

I have played with 10-20 btc day trading No probs with them for the last 6 weeks

You are looking this all wrong.....

Start with 1 btc MAX on OKCOIN (0 fees so you can day trade 1 btc without any probs)

If you can turn that into 2 btc over the course of 2 weeks then look to double your stake to 2 btc

Keep doing this until you can reach you target of 50 btc...

Here are some points you should take note

1) TRADING in general is THE HARDEST occupation to learn
2) Only 3-4% of people can do it
3) Being smart is not necessarly the key ingredient (it does help to be not stupid ..lolz)
4) DAY trading is the difficulty of Trading x 2
5) You are still a noob until you have 5 years XP in trading
5) Books and study would be a key starting point

To be honest DO NOT PUT MORE THAN 1 BTC as you will lose it all guranteed ...TRADING is a learnt skill that is honed by XP i.e nobody is born an AWESOME trader..ppl have a talent but they discover this by XP nad learning

ALso if you just want to dive in ...let me know what you are trading and when and I will be on the other side of your trades taking your MONEY :D

OKCOIN is good place for daily trading
no fee policy too hard to ignore :P
very informative posts, many thanks for you
i'll try to do it and learn how it play ;D

You could also try at BTC-e.They always have big volumes and trading goes on every second.

I use bitifnex, though I wouldn't say I really day trade, but in and out a few times a week or month depending on volatility.  If you use the link in my signature you will get reduced trading fees too.  Feel free to fire me a PM and I'll even give you a kick back on the affiliate fees I earn from your trades. (probably won't add up to much, but it's something)

I heard bitfinex location in Hongkong, but no one knows the founders and management team.
During the Spring Festival China, they even don't withdraw money to me? I don't trust it.

someone say "okcoin", I think it's just a joke. everyone know that the trading volume is false figures.
Even heard, it is not impossible that okcoin was behind some of these purchases...

I think, don't trust all, but bitcoin.

China exchanges is all 0 fee, but just for CNY/BTC trading. I don't need CNY, just only way to withdraw BTC but go to another exchange into USD?? Too much trouble.

I do trading in LakeBTC (https://www.lakebtc.com/?ref=mqmc40), do CNY/BTC daytrade with 0 fee, also can withdraw or deposit with USD, it's really good!
I think LakeBTC is very suitable for you too.

Yes, listening to your explanation after, that really can do it, perhaps staring at the screen can get rich over several weeks.
I also do trading on LakeBTC now, but do daytrade serious influence health and I'll never do daytrade.

Well, the business registry of HongKong is available online, you can buy access to all papers they used for registration with signatures of the founders, managers etc. ::)

What he told you is very true; even though it was provide in a crude way.  Yip Yip said the very same thing in a very diplomatic way.


Here's my advice, have an exit strategy,  1 exit tactic for a trade, 1 exit tactic for a position, and 1 exit tactic for the day. 
You have got to know when to pull-out of a bad trade, when to stop feeding a bad position, and when to quit trading for the day;
without a comprehensive exit strategy for loss you will go the way of 97% of daytraders -- to a day job.

The founder and the CFO are well known in the community.

I would suggest Bitfinex due to the margin trading feature.  :)

yes, a lot CEO of exchange are in this forum...

margin or short trading is high risk

Mintpal

Spring festival was bank holidays. That is why they didn't withdraw money to you!