0 commission trading?

[Bazil]

I was thinking some or all of the major exchanges should start a paid subscriber service with 0% commission on trades with a monthly fee in it's place.  So you could trade with the whatever% commission or pay say 1BTC a month to trade commission free.  It would make day trading a lot easier.  Since they canceled my order from the crash, it's so easy for me to make money day trading right now with the 0% commission on MtGox.

[error]

You should be able to make money even with the commission.

[Bazil]

You should be able to make money even with the commission.

Oh I can but the amount of price variation makes it so I have to wait a few hours for every trade.  With no commission I can set trades that are very close to each other to take advantage of the minute to minute variations rather than the hour to hour.

[DamienBlack]

I agree, I'm making a killing, and I would love to pay monthly to continue being able to trade with 0%. I'm sure it helps increase liquidity, so it is good for the market, right?

[error]

You should be able to make money even with the commission.

Oh I can but the amount of price variation makes it so I have to wait a few hours for every trade.  With no commission I can set trades that are very close to each other to take advantage of the minute to minute variations rather than the hour to hour.

You make a good point there. Perhaps you should make a killing and then start a zero commission exchange?

[NghtRppr]

My exchange doesn't charge any commission for trades.

[error]

My exchange doesn't charge any commission for trades.

True, but your exchange isn't really instant, is it?

[Stephen Gornick]

I was thinking some or all of the major exchanges should start a paid subscriber service with 0% commission on trades with a monthly fee in it's place.

Mt. Gox had described that as "coming soonish":
  - http://www.bitcoinmoney.com/post/6288308683

[FreeMoney]

You should be able to make money even with the commission.

Oh I can but the amount of price variation makes it so I have to wait a few hours for every trade.  With no commission I can set trades that are very close to each other to take advantage of the minute to minute variations rather than the hour to hour.

You make a good point there. Perhaps you should make a killing and then start a zero commission exchange?

A lot of us are 0% at MtGox for a month now, pretty much every active trader there would be I assume. Miners who just place sells wouldn't be I guess.

[FreeMoney]

My exchange doesn't charge any commission for trades.

True, but your exchange isn't really instant, is it?

It's every 5 minutes right now, I don't know why he couldn't speed that up if there was demand. You just use the mail for deposits iiuc.

[Bazil]

Making more than I do at my day job doing this.

[bitcoin.monger]

This is a good idea, but it should be offered as an option.
The big speculators would take it and be happy. The miners looking to sell a few coins a month would stick with the percentage.