How to daytrade?

[BombaUcigasa]

How is it that it's possible to make any money with all these fees? Unless you guys are moving around much bigger amounts than me. I find it difficult to "day" trade with bitcoins simply because of the commissions.

I don't know man, let's check.... hmmmm

https://www.bitcoin7.com/index.php?show=trade

Lowest ask price: 14.69 USD
Lowest ask price after 10 traded bitcoins: 15.00 USD

Highest Bid Price: 14.38 USD
Highest Bid Price after 10 traded bitcoins: 13.35 USD

Effective spread for a 20 bitcoins margin on Bitcoin7 which might be well within the ~200 daily volume: 1.65 USD (11%).

Now take out the fees from the 11% profit margin and you find out how much money you can make during a day? Is it difficult?

[grue]

Wow, daytrading seems to be a super bad idea. I was just looking for a way to stop my loses during the $30 - $20 crash.

[chad]

Just jump into the fire and start, that is the best way to learn. 

Deposit $100 (or whatever you can afford to lose) and try it out. 

If you like it then spend more time to become a student and eventually a master..

[BombaUcigasa]

Just jump into the fire and start, that is the best way to learn. 

Just jump into the fire and start, that is the best way to learn if it's for you

[BkkCoins]

It looks to me like arbitrage would be workable. The exchanges seem to be pretty out of whack sometimes but I haven't looked into the costs of moving BTC between the exchanges. Besides the depth is so small on most of them that you'd be waiting to find a trade most of the time.

Has anyone explored this more fully?

[Justsomeforumuser]

Jesus H Christ Horkaborka, you have a LOT of excess time and writing power. :p

You should imo write some DIY Teen Angst Wolf-and-Vampire novels and self-publish.

I'm not even kidding; add in some of your classic sillyness displayed on the forum already and I'm fairly sure a piss-take on Teenlight and Hairy Otter would sell quite well. And even 5000 copies at 99c are already a well spent 3-4 weekends (which, at your volume and speed, I would assume to create > 250 pages).

[Kman54]

lots of room since the opening to make some profit - just gotta be fast on the trigger.

[bitebitebite]

 Just initiated a small transfer, add that to $90 Iv mined (wowee) and should have a bit of fun playing about. Thought about making a larger transfer to make the trades more worthwhile, but a bit too risky for me at the moment given the recent mt Gox incident and Iv never done it before. Maybe if I have some success I will consider trading for more than a fun hobby