Does anyone "Day Trade" Bitcoin

[BitcoinHodler]

It's not worth it, just stick to buying and holding, if you believe in bitcoin long term, it's the only way to make solid gains. Look at what happened today, it's like someone cut the graph with a knife, 90 degree freefall out of nowhere, only because of chinese shenanigans. You can't predict those, day traders can lose a lot of money in situations like this, if you had a long position you got fucked hard today, theres no other way to put it.

yeah but still many are day trading bitcoin specially these days that prices are so volatile, traders are killing it or getting killed based on how much experience they have got.
and most of the times when day trading it comes to how quickly you can act on some news, rather than being able to predict things although that helps.

[FaucetRank.com]

Hello everyone,

I'm wondering if anyone buys and sells bitcoin like a day trader. Like maybe watching for a small gain, selling a few, watching for a small dip, buying back more from what you just sold, and so on.

Are there any reliable sites for this?

Thanks in advance for all who offer insightful advice.

I think there are many day traders and they hold both long term and short term investment. They do day trading just to meet out their daily and house hold expenses and they also hold long term investment just for more profit in future.

[QuestionAuthority]

Yes, I've been day trading the btc/usd currency pair for about four years now. I began by using BTCe but recently moved to simplefx.com because it's so easy and much faster. People are making small fortunes day trading the volatility of Bitcoin. Especially since the Chinese became heavily involved. Currently it's bitcoins best use and purpose.

https://simplefx.com/dashboard/

[Mometaskers]

Hello everyone,

I'm wondering if anyone buys and sells bitcoin like a day trader. Like maybe watching for a small gain, selling a few, watching for a small dip, buying back more from what you just sold, and so on.

Are there any reliable sites for this?

Thanks in advance for all who offer insightful advice.

I'm not a day trader but I know there are a lot of traders that are doing this. They are more of daily profits rather than longer and higher profit.

For sure those traders have ample time to manage their day to day trade and they can monitor each alt coins that they bought.

It can be effective if you are jobless but for people like me that can't monitor their trades on a daily basis, this is not recommendable.

Well I'm unemployed so... how steep is the learning curve for trading? Can you suggest reliable sites on where to learn about this? And how much bitcoin would I need as startup?

[Hammerschmidt]

Well I'm unemployed so... how steep is the learning curve for trading? Can you suggest reliable sites on where to learn about this? And how much bitcoin would I need as startup?

Well as long as you understand the difference between higher and lower numbers in base-10, you have all the skills you need

Buy low, sell higher, repeat.

Just don't buy in for more than you can spare. Don't put the rent/mortgage money in there.

I started with half a bitcoin. Now I'm all the way up to 8.

[valley365]

I guess day trading is very tough, this is possibly like trading a stock option on daily basis, unless you are really a professional and can watch it all the time and have a good sense, it will be very difficult to do.

[Taksonas]

Never did this but I also think that its way too risky to do because of the fact that you can lose insane amounts real fast.

[pinkflower]

From what I noticed, I can tell you that bitcoin day trading is only really profitable if you have access to bitcoin exchanges located in exotic places.
What I mean by that: on Indian, African, European and Chinese exchanges price usually differs greatly. At some point it might reach even 20%
So if you can establish Indian, African <=> western bitcoin trading - the profits are there.

Are you talking about arbitrage? I dont think there are that many traders that do it. Just look at the price of BTC in all the exchanges and look at the difference. If there were many traders doing arbitrage then all the BTC exchanges all over the world will have almost the same prices of BTC. The difference will be very small.

[Pursuer]

From what I noticed, I can tell you that bitcoin day trading is only really profitable if you have access to bitcoin exchanges located in exotic places.
What I mean by that: on Indian, African, European and Chinese exchanges price usually differs greatly. At some point it might reach even 20%
So if you can establish Indian, African <=> western bitcoin trading - the profits are there.

Are you talking about arbitrage? I dont think there are that many traders that do it. Just look at the price of BTC in all the exchanges and look at the difference. If there were many traders doing arbitrage then all the BTC exchanges all over the world will have almost the same prices of BTC. The difference will be very small.

what he is saying is not exactly arbitrage but a similar method like it.
it comes from the fact that in those countries like India there aren't that many good places that you can find and buy bitcoin from and in a certain period of time there was limitation on people banks and how much they could withdraw so they needed other methods and started using localbitcoins ,... so price went up.
and if someone can buy with USD and sell to Indian Rupies (?) they can make a good profit but that is not day trading and it is not an always thing.

[avatar_kiyoshi]

Well I'm unemployed so... how steep is the learning curve for trading? Can you suggest reliable sites on where to learn about this? And how much bitcoin would I need as startup?

I do trading but not for everyday, I'm still learning to gain experience from it. I start from do thru MT4 platform, it's make easier for do an analyze, also there are a demo which you can learn with real-time trading, I used simpleFX.com for it.

[Doamader]

There are for sure a group that has time and money to play bitcoin daily trades, this requires a lot time and dedication, but there is the gold eggs here as well, forex is one way to maximize this daily earnings. Since i dont have enought time for such adventure i do some small trades along the week.

[marcoman22]

Most traders who want profits in short term do day trade. They do their sale even at small margins. They do trading frequently. But the fees charged by exchange per trade should also be considered if the investment is small. Mostly, day trade gives more benefits in altcoins since the price is highly fluctuating.

[Pamadar]

Most traders who want profits in short term do day trade. They do their sale even at small margins. They do trading frequently. But the fees charged by exchange per trade should also be considered if the investment is small. Mostly, day trade gives more benefits in altcoins since the price is highly fluctuating.

those who have a lots of btc can do day trade as fluctuations really benefiting traders just needed to have big funds for this and good assessment making correct entry will already give you good profits if you have a huge capital.

[Mastsetad]

Ofcourse there are day traders in bitcoin too, they buy bitcoins and wait for the price to go a little higher and they sell them back to earn a few bucks and they again wait for it to drop some bucks and they do the same thing again, though it can be profitable sometimes when the price stays quite stable but mostly it is not good because if the price starts growing then it just keeps growing and if it starts dropping then it keeps dropping like now.

[error08]

Hello everyone,

I'm wondering if anyone buys and sells bitcoin like a day trader. Like maybe watching for a small gain, selling a few, watching for a small dip, buying back more from what you just sold, and so on.

Are there any reliable sites for this?

Thanks in advance for all who offer insightful advice.

Daily traders get small and big profits depends on their funds. How much capital you have, if you don't mind to share?
You may try to search local exchanges in your country in order to make easier transaction among members.
If you want to register on some famous exchanges such as coinbase, bitstamp, itbit, btc-e or bitfinex, there are a lot of them.

[philiveyjr]

I used to day trade on bitstamp. It was a good experience but the profits were marginal. Its not often that BTC goes up exponentially but goes down steeply a lot more than going up. Couldn't find time for it as I couldnt make good money out of it. Felt it wasnt worth the time/effort.

[fikihafana]

Hello everyone,

I'm wondering if anyone buys and sells bitcoin like a day trader. Like maybe watching for a small gain, selling a few, watching for a small dip, buying back more from what you just sold, and so on.

Are there any reliable sites for this?

Thanks in advance for all who offer insightful advice.

I'm full day trader in cryptocurrency, i combined between bitcoin and altcoin. So far i got more profit from altcoin if bitcoin price not increase. for now, i used polonix, bittrex, btc-e to trade daily

[Hammerschmidt]

You might want to visit https://btc-e.com/

Thanks! I love the layout. Do you use this site for your trades?

[DOGE12321]

Hello everyone,

I'm wondering if anyone buys and sells bitcoin like a day trader. Like maybe watching for a small gain, selling a few, watching for a small dip, buying back more from what you just sold, and so on.

Are there any reliable sites for this?

Thanks in advance for all who offer insightful advice.

Yeah. There are hundreds of day-traders on this forum. However, it is not very profitable unless one possess a vast amount of Bitcoin.

As for sites, I sometimes use Kraken and Yobit.

[Hammerschmidt]

Yeah. There are hundreds of day-traders on this forum. However, it is not very profitable unless one possess a vast amount of Bitcoin.

As for sites, I sometimes use Kraken and Yobit.

You don't need a big stash of BTC to make a nice chunk of money day trading. I think everyone is thinking too much like a stock INVESTOR (buy many cheap shares, sell many at price-sell trigger) and not a VOLATILE commodities trader (make even 2% gains over and over then double your investment after only 36 trades).

Day trading loves the law of compounding interest. A simplified version is the "rule of 72." Take the gain percentage (say 4%) and put it in the denominator with 72 as the numerator. This is approximately the number of similar trades it will take to double the starting amount.

72/4 = 18
1.04 x 1.04 x 1.04 ... 18 times is 2.0258 etc.

Of course BTC prices won't swing in 4% pluses and minuses for you, so you look for smaller swings, even 1%. And, don't put your entire bankroll at risk. Use maybe a quarter of it. It will take 72 trades at 1% to double the amount you're trading with. 2 trades a day for a little more than a month.