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Author Topic: where to day trade bitcoins ?  (Read 1861 times)
forzendiablo
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November 01, 2013, 05:38:41 PM
 #1

i want to enter day trading, what is the best plce that guaranttes i can buy coisn and sell fast?

yolo
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Shallow
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November 03, 2013, 07:13:56 AM
 #2

Mtgox  Roll Eyes

btcforall777
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November 03, 2013, 08:54:09 PM
 #3

mt gox?! mwahahahah!

mt gox is dommed you moron!
Don007
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November 03, 2013, 08:58:52 PM
 #4

You should avoid Mt. Gox now in my opinion, as it takes quite a long time to receive a single payout. You can find more about Mt. Gox and its problems here on this forum.

There are also many alternatives. I haven't compared them by myself, but I'm sure you can find more information on this forum about this by using the search option, in the right upper corner of your screen.

<< Curently quite inactive as I'm really busy in my private life. I will get back soon! >>
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frankenmint
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November 03, 2013, 09:15:05 PM
 #5

What are you playing?  Arbitrage or the Long/Short position?  If you're playing Arb then play between bitstamp/coinbase and btc-e.  If you're just playing the long/short position, then play on bitstamp only.  I believe they have the most volume now.  Also btc-e has the lowest volume so its easy to buy them cheapest there but its hard to get money in espcecially if you are located in USA.

jzcjca00
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November 03, 2013, 09:25:22 PM
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If you're just trading between XBT and USD, then the fact that you cannot withdraw USD from Mt.Gox is not a problem.  However, it does point to a bigger issue.  The U.S. government is waging war on Mt.Gox for not having the proper licenses in place to do business with U.S. customers, and they have seized millions from their bank accounts already.  There is a danger that Mt.Gox could fold.  Their market share is definitely on the decline.

If you're not in the U.S., I would be looking at Coinfloor.  Their fees go as low as 0% for high-volume market makers.  (They define a market maker as someone who places limit orders that are not immediately executed.)

If you're in the U.S., Bitstamp is probably the best bet.

CampBX is the largest U.S.-based exchange, but they have low volume, high spreads, and a lousy user interface.

Tips much appreciated! 1PPJHDawPvjh6MEzsvXrMYLgpLmyAaNXUc
forzendiablo
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November 04, 2013, 02:22:05 AM
 #7

thanx guys!
ive made accoutn with BTC-E deposited em over 500$ with 1 of their methods that needs ticket load.. and its 48h and money still not i nthe bank.

so long/short is best on that other site? arbitrage would propably need some bot to be fast enough. are there any?

yolo
tskweres
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November 04, 2013, 09:45:22 PM
 #8

Try CoinMKT, we allow you to trade any currency pair for 7 different crypto

https://coinmkt.com

Travis Skweres
CEO - Coin Market
https://www.coinmkt.com/
Izerian
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November 05, 2013, 12:50:34 AM
 #9

So ideally, a FinCEN (MSB) accepted/compliant site with low(er) transaction fees, no withdraw fee & immediate dispersal would be ideal? (From a U.S. perspective)
jzcjca00
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November 05, 2013, 12:57:35 AM
 #10

I day traded for a while, but when it was around $100 a few months ago, I decided to become fully invested and spend my time more productively.  The problem with day trading Bitcoin is that its overall uptrend overshadows its volatility.  You invariably wind up holding fiat through major run ups.  I definitely made more by holding the past few months than I would have by day trading.

Tips much appreciated! 1PPJHDawPvjh6MEzsvXrMYLgpLmyAaNXUc
forzendiablo
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November 05, 2013, 01:05:02 AM
 #11

I day traded for a while, but when it was around $100 a few months ago, I decided to become fully invested and spend my time more productively.  The problem with day trading Bitcoin is that its overall uptrend overshadows its volatility.  You invariably wind up holding fiat through major run ups.  I definitely made more by holding the past few months than I would have by day trading.

ya i think ill end as holder too. just not sure if its good moment to hold now coins that i got at 215. or better to sell and wait for when it crushes to 70-150.

what are ur opinions?

yolo
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November 05, 2013, 01:07:37 AM
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I day traded for a while, but when it was around $100 a few months ago, I decided to become fully invested and spend my time more productively.  The problem with day trading Bitcoin is that its overall uptrend overshadows its volatility.  You invariably wind up holding fiat through major run ups.  I definitely made more by holding the past few months than I would have by day trading.

ya i think ill end as holder too. just not sure if its good moment to hold now coins that i got at 215. or better to sell and wait for when it crushes to 70-150.

what are ur opinions?

There's no authority saying it will 'crush to 70-150' ever again.... I'm betting on the opposite. The more people use it (china, jeezy) the more it's inherently worth.
jzcjca00
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November 05, 2013, 05:58:37 AM
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I day traded for a while, but when it was around $100 a few months ago, I decided to become fully invested and spend my time more productively.  The problem with day trading Bitcoin is that its overall uptrend overshadows its volatility.  You invariably wind up holding fiat through major run ups.  I definitely made more by holding the past few months than I would have by day trading.

ya i think ill end as holder too. just not sure if its good moment to hold now coins that i got at 215. or better to sell and wait for when it crushes to 70-150.

what are ur opinions?

What's going to happen?  Are the hedge funds going to start taking "small" (million dollar) positions?  Is the Winklevoss ETF going to be approved?  Is the Chinese government going to continue to not disallow investing in Bitcoin?  These things could take us to $10000 and beyond incredibly fast.

Are the regulators going to take down Mt.Gox?  Are more countries going to ban Bitcoin?  Are the news reports going to turn negative again?  These things could cause a crash.

Compare the magnitude of the potential loss to the magnitude of the potential gain.

In the absence of concrete knowledge otherwise, my best guess is that Bitcoin will continue to grow on average by a factor of 7 every year.  A $1000 investment would become $2.4 million in 4 years.  It might happen faster or slower.  It would be a pity to miss it!

Tips much appreciated! 1PPJHDawPvjh6MEzsvXrMYLgpLmyAaNXUc
jzcjca00
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November 05, 2013, 06:01:43 AM
 #14

Also consider this.  The buildup to the April bubble started around $10.  Today's buildup started around $100.  I therefore expect the peak to be at least an order of magnitude higher. 

Tips much appreciated! 1PPJHDawPvjh6MEzsvXrMYLgpLmyAaNXUc
forzendiablo
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November 05, 2013, 02:52:29 PM
 #15

now BTC at 233. i got some coisn i had form mining/old days [when i got em for 10$] + now i have 2 more coins i got at 213.
so while the 'free' ones i definately keep for investment, not sure what to do with those that i can loose mone yat - 213 ones.

what do u guys suggest? i know its blindly speaking but i wasnt payign attentio nt the courses at all so im even more clueless than blind spottign people Wink

yolo
daybyter
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November 07, 2013, 02:10:18 PM
 #16

Are you trading manually or with a bot? Maybe we could collab in some form...

forzendiablo
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November 08, 2013, 01:20:09 AM
 #17

Are you trading manually or with a bot? Maybe we could collab in some form...


PM me about ur idea Smiley

yolo
jeppe
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November 08, 2013, 08:23:59 PM
 #18

I use BTC-e for day trading its okay but im looking for a better exchange for day trading  as well Smiley
ellet
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November 09, 2013, 05:14:33 AM
 #19

bitstamp , Is a great choice for me.
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