Bitfuturex.com has created One-Day Trading System, I would like to know your opnions about the system.
Is this good for Trading? Trader can make strategies to make profits in this system? It is new, we are not discussing the platform but the trading system.
how One-Day Trading System Works
You trade if Bitcoin price goes up or down in exact 24h period, Bitcoin price valid for your trade is collected in the next price record(00:00) and compared 24h later with next price record, algorithmn compares if price is higher or lower from previous price record, loser pool funds are shared equally with depositors from winner pool, 2% fees.
Depositor's Bitcoin address is displayed in pool's list after next time record 0:00.00 hour(UTC + 00:00).
In my opinion, it really depends on the how you see the art of trading itself but for me, this looks more like gambling because its a prediction that sounded like you losing your funds should in case your prediction goes foul which goes against everything that trading stands for in my opinion. Of course its a service that they are offering and I believe they are not forcing anybody to comply with. If you are not comfortable, the best is to either ignore or move away from the site all together.