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Author Topic: In need of some professional opinion.  (Read 1119 times)
ballsmcpeaches
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July 04, 2014, 07:34:54 AM
 #1

Hey guys,

I have been fervently studying bitcoin real-time economically and historically for the past quarter and I think I am ready to invest. I have experience with investing, day-trading, etc. in other markets. I am willing to invest quite a high amount by my standards because I personally see an uber-bullish market and some giant upwards within the next year with so many great implementation possibilities of BTC on the rise. I also have experience with bots; poker bots, trading bots, even social media solicitation bots (made quite a bit off those believe it or not.)

So this leads me to my question;

How profitable are trading-bots at this stage and how is everyone doing with day trading?
I am debating over three choices; buy-hold, day trading manually, or bot trading.

Awaiting you opinions,

-Thanks!
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Justin00
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July 04, 2014, 10:03:01 AM
 #2

I have absolutely no experience..... but why not try any of the methods you listed (well except bot, it wouldn't work) with fake bitcoins you pretended you bought at X price.
Buy and sell fake fantasy bitcoins for a week, and note down the price you buy and sell at in excell and see how you go.

That is what I'd do anyways, if I was unsure of the best method and wouldn't to get into it.



Holding seems to be the best method.

Harley997
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July 04, 2014, 05:25:45 PM
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Bot trading is very risky, and likely setting you up to get scammed. In general day trading is not profitable over the long term either, unless you make a few lucky bets as trading fees will eat away your profits.

IMO the safest bitcoin related investment would be investing in the bankroll of a dice-type site (or a casino site)

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PRIMEDICE
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TrailingComet
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July 04, 2014, 09:10:23 PM
 #4

Day trading is not going to make you money
Buying and holding long term is the winning strategy here

bitminister123
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July 05, 2014, 06:22:42 PM
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Newb here Smiley

Been into btc since October 13 and not too sure about bot trading, day trading is good if you arbitrate between exchanges, altcoins seem like a waste of time (too many pump and dumps) unless you arelucky enough to find the golden coin, holding does seem the best option, personally i do a little day trading and hold 50% of the profit each day as the future does look very bright for bitcoin.

CEG5952
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Buy and sell bitcoins,


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July 05, 2014, 10:03:22 PM
 #6

Day trading is not going to make you money
Buying and holding long term is the winning strategy here

That is true for bad traders. The assumption among bitcoin hoarders that buy-and-hold is the only strategy is patently wrong for the minority that can consistently beat the market. If I bought and held only, I would have many, many times less BTC at this point....

Harley997
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July 06, 2014, 07:19:53 PM
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Day trading is not going to make you money
Buying and holding long term is the winning strategy here

That is true for bad traders. The assumption among bitcoin hoarders that buy-and-hold is the only strategy is patently wrong for the minority that can consistently beat the market. If I bought and held only, I would have many, many times less BTC at this point....
In the past, buy and hold has worked out very well for holders of bitcoin.

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July 07, 2014, 07:50:01 AM
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Learn everything and turn to knowledgeable people. But the high-frequency trading is a high risk. To be successful you have to be an experienced trader, and therefore spend a lot of time. Better buy Bitcoins as a long-term investment, and forget to upgrade your skills.
Sindelar1938
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July 08, 2014, 01:25:04 PM
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Trading can make you money but too few of us can devote enough time to the btc ecosystem and trading market to read what is going to happen
This makes buy and hold better for most o us

iluvpie60
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July 08, 2014, 07:47:55 PM
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Trading can make you money but too few of us can devote enough time to the btc ecosystem and trading market to read what is going to happen
This makes buy and hold better for most o us

Agreed. There was a period of time where I spent hours a day looking at news/trends/articles/prices of BTC, I turned 4 BTC into 9 within weeks. Then lost half of it on Cex.io implementing their "futures" trading and my GHS price to sell for in BTC halved overnight(I didn't even know they were going to do it). Then lost the rest accidentally max betting on just dice lol. I admit that was dumb yeah.

My point is that it deff is a huge time consuming thing, I lost half my BTC because of not keeping up with what Cex.io was doing. If you're gonna keep up with it all the time day trade for sure, buy altcoins and make 50% and sell the same day. Do not hold altcoins, but you can surely make money going between altcoins back to BTC. Just need to put time into it. Many exchanges get hacked that deal in altcoins also, risk risk risk everywhere a rix!



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