Does anyone "Day Trade" Bitcoin

[CryptoUser25]

Never done that and I also do not think its very profitable maybe back in the days it has been done more most likely it did but I think its nowadays too risky.

[Gotottack]

Yes, there are a lot of people who do this in trading platform and exchanges. Unlike in stock market day trading, day traders do it in just the trading hours, here in the crypto-world they do it 24/7. They even made bots to do it. They buy low and sell a bit higher like around 1-2%. So, I guess you could consider that as day trading.

[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.

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.

That sounds like arbitrage. If there were many traders doing this then the market involved will be very efficient. Looking at the state of the market now is proof that not many traders are doing arbitrage trading that requires the use of BTC.

[Mometaskers]

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.

Is there any exchange you can suggest for those just beginning with trading? I've seen my cousin use Yobit but he said he just use it to play dice and he's not really doing any trade.

BTW, congratulations on getting to BTC8.   How many months did it take you to grow your BTC0.5?

[poplolnman]

Yes, there are a lot of people who do this in trading platform and exchanges. Unlike in stock market day trading, day traders do it in just the trading hours, here in the crypto-world they do it 24/7. They even made bots to do it. They buy low and sell a bit higher like around 1-2%. So, I guess you could consider that as day trading.

yeah the bitcoin volatile make people really recognized it's as their favorite stuff to trade daily. don't need to get a lot of profit, small but steady . do it repeatedly. but of course it's doesn't mean so easy to do day trading , even bot could lead you to broke. just be safe using bot.

[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.

Is there any exchange you can suggest for those just beginning with trading? I've seen my cousin use Yobit but he said he just use it to play dice and he's not really doing any trade.

BTW, congratulations on getting to BTC8.   How many months did it take you to grow your BTC0.5?

Thanks. I purchase BTC along the way, that wasn't a 16x rollover. Still this is now my 2nd year.

[burner2014]

There are lots of day trade actually, sometimes in the past I did that especially if I need money much.
It is not bad they are just being practical, don't wanting to lose money. When I am starting trading what I do is when I see the price goes up I get the profit  even in small amount and retain my capital.

[BillyBobZorton]

The fastest way to lose money is via day trading. My friend was trying to get some money the other day sailing the 900 ish stable price, then he woke up and he saw how the price plumeted to mid 700's. He panicked hard since he was holding BTC, so he sold, and then it went up again. Now he needs the price to go under 700 or he will not be able to buy back again without a loss.

[bncbnc]

Yes, there are a lot of people who do this in trading platform and exchanges. Unlike in stock market day trading, day traders do it in just the trading hours, here in the crypto-world they do it 24/7. They even made bots to do it. They buy low and sell a bit higher like around 1-2%. So, I guess you could consider that as day trading.

i do not think that most of the people may be practicing it, because to me most of the people who are using bitcoin consider it as their secondary profit and most of them use bitcoin after coming back from tier job or business.

[Hammerschmidt]

The fastest way to lose money is via day trading. My friend was trying to get some money the other day sailing the 900 ish stable price, then he woke up and he saw how the price plumeted to mid 700's. He panicked hard since he was holding BTC, so he sold, and then it went up again. Now he needs the price to go under 700 or he will not be able to buy back again without a loss.

That is the textbook way to lose everything. I never use over 10% of my BTC bankroll and bank account bankroll on any given price swing. Oversimplified example, but similar to how I rode the downturn:

Bank account = $6000
BTC account = 8.0
Last buy = 0.1 BTC at $900

Price drop to $880

Buy 0.1 BTC for $88
Bank = $5912
BTC account = 8.1

Price drop to $860
Buy 0.1 BTC for $86
Bank = $5826
BTC = 8.2

Price rise to $870
Hold

Price drop to $850
Buy 0.1 BTC at $85
Bank = $5741
BTC = 8.3

Price rise to $865
Sell 0.05 BTC for $43.25

Bank = $5784.25
BTC = 8.25

And so on.

The idea is to sample the change in price, and make decisions based on that.

Now I have 0.25 BTC to sell with BTC > $865 for a profit, and most of my 8.0 were purchased below $600.

[Flanagan]

Before you begin you need to know that:

Over 90% of traders lose money (any market).
You are basically competing with the best mathematicians in the world and their hardware.

Having said that, since you are going to trade anyway, good luck and enjoy your losses !

[Hammerschmidt]

Before you begin you need to know that:

Over 90% of traders lose money (any market).
You are basically competing with the best mathematicians in the world and their hardware.

Having said that, since you are going to trade anyway, good luck and enjoy your losses !

As I mentioned in an earlier post, I'm in my second year of doing this. You don't need any math beyond 1st year calculus and an understanding of first and second derivatives. Most smart high school seniors and any freshman science or engineering major will possess the skills to mitigate losses and make steady progress.

By my charting, 2.9 BTC of my 8.0 were accumulated profits over a span of call it 18 months. Not sophisticated trading. Just understanding the rate of change and rate of rate of change indicators, and keeping track of each small piece of BTC and what was paid for it.

If I were to give an appropriate metaphor, imagine a jigsaw puzzle fully completed, and on the back was a different BTC amount and what was paid for it. Any trade to follow that is a sell, select only those pieces with smaller purchase BTC. You can see how this turns the "mystique" of it all into a game a child could play.

[CraigWrightBTC]

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.

Yup there are many Dau traders, actually depend on the strategy of trading on every traders,
usually days traders can be called scalpers they use time prime for trading 5M-30M in candle chat,
 that is ways suitable for the traders whom has much time because they must look at monitor of computer.

Many websites are reliable for trading, for trading altcoins you can use poloniex, bittrex, youbit and other and
for trading bitcoins to fiat you can use Kraken, bitstamp, huobi, and other depend on your residence.

[coinsocieties]

I am one of those who do this, but I am not good at it.  i tend to loose more than what i gain.  I like the exchanges where I can sell short, then I do better than what I do when I buy to hold and sell on a move.  There are not many exchanges like that on here that i have sound yet. 

[Supercrypt]

I am one of those who do this, but I am not good at it.  i tend to loose more than what i gain.  I like the exchanges where I can sell short, then I do better than what I do when I buy to hold and sell on a move.  There are not many exchanges like that on here that i have sound yet. 

Because We never know when the price of the bitcoin could change, plus bitcoin is not related to a certain country nor a market because it is worldwide thing that people all over the word uses, so trading it is not related to one particular country's policies. We can only predict what the price will be by hoping for the best.

I always prefer positional trading as holding bitcoin is a proven way of easy profit gaining.

[densuj]

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.

There are some types of traders, here we go:
1. Scalper: the traders use chart Tick-M5,time prime minutes-hours.
2. Day traders: the traders use chart M15-1H,time prime minutes-hours.
3. Swing traders: the traders use chart H4-D1, time prime days-weeks.
4. Position Trader: the traders use chart D1-W1, time prime weeks-month.

The reliable markets had been answered above me.

[mk3000]

Tradingview.com offers a nice feature called paper trading where you can trade with fake money. I've been playing around with it for about a week. it's much better than trading with your real money when you are learning. I'm planning on doing it for a few weeks and eventually try real money trading.

[Dudeperfect]

Yes, I do trade bitcoin in day but not frequently. The last time I traded was when bitcoin fall from $1,000 to $960. I made few bucks while short trading in that period. I think it’s risky then other kinds of trades and one must stay active while monitoring the market movement in a day trade otherwise he can end up with huge loss (I have experienced 100% loss twice) but since I put low amount while doing a day trade, the damage was under control.

[Zadicar]

Yes, I do trade bitcoin in day but not frequently. The last time I traded was when bitcoin fall from $1,000 to $960. I made few bucks while short trading in that period. I think it’s risky then other kinds of trades and one must stay active while monitoring the market movement in a day trade otherwise he can end up with huge loss (I have experienced 100% loss twice) but since I put low amount while doing a day trade, the damage was under control.

When you are doing day trades its really risky but the amounts of profits would be good as long you know what you are doing and be vigilant on each price movement because you wont know exactly which points would be the best spot to jump in and to jump out.

[btccashacc]

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.

Not daily but i will sell my bitcoin if the price is increase yeah buy low sell high even it's small profit, better than never. I focused on how to make steady income by trading, sometimes i lose but not a big deal since i know it's one of the risk in trading.
there are reliable sites out there like bittrex, poloniex and ccex i highly recommend those sites, i personally trade on our local exchanger trading bitcoin to our local currency so those profit i can send them to my local bank.