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counter
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July 17, 2014, 09:08:12 PM |
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The catch is you're a newb so you're going to make mistakes. The altcoin scene is littered with scams coins, clones, pump & dumps, whales, weak hands, bots, never ending hyping and oh my there's more..
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"There should not be any signed int. If you've found a signed int
somewhere, please tell me (within the next 25 years please) and I'll
change it to unsigned int." -- Satoshi
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billyscuz
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July 17, 2014, 09:26:45 PM |
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The catch is you're a newb so you're going to make mistakes. The altcoin scene is littered with scams coins, clones, pump & dumps, whales, weak hands, bots, never ending hyping and oh my there's more..
altcoins are very risky. when BTC is in a strong bull market, i'll look for a bottom in alts then. for now, stick to BTCUSD. |
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counter
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July 17, 2014, 09:53:02 PM |
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I feel the same way but I can't help but try and buy I feel I should at least try and buy a couple different coins I think have real potential. I'm also thinking if Bitcoin does make any real moves these same coins are almost sure to follow. The problem is having bad judgement(on my part) during a coins pump and thinking you will get easy money.. Then you get dumped on.  |
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hollowframe
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July 17, 2014, 11:53:15 PM |
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I think a lot of people think they can strike it rich by day trading, but very few people can make a living off of it. It takes up a lot of your time as well, but good luck if you try it.
Spot on. Day trading is a loser game. How come some people still do it then? If you're not too greedy, and you're satisfied with profits of about 10% on a trade, and you don't panic sell or buy, it's not that hard not to lose money really. 10% is a lot for a trade that is done by a day trader. Most day trader try to make a lot of trades with small gains, hoping that these gains add up over time. |
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lynn_402
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July 17, 2014, 11:57:15 PM |
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I think a lot of people think they can strike it rich by day trading, but very few people can make a living off of it. It takes up a lot of your time as well, but good luck if you try it.
Spot on. Day trading is a loser game. How come some people still do it then? If you're not too greedy, and you're satisfied with profits of about 10% on a trade, and you don't panic sell or buy, it's not that hard not to lose money really. 10% is a lot for a trade that is done by a day trader. Most day trader try to make a lot of trades with small gains, hoping that these gains add up over time. You're right if daytrading Bitcoin, but this is quite common with altcoins. In the last 24h, Dogecoin, Ripple, Darkcoin, Counterparty and many more have had swings of more than 10%  |
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Nrcewker
Copper Member
Hero Member
 Offline
Activity: 2170
Merit: 536
Building my own Dreams!
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July 18, 2014, 05:39:06 AM |
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If do day-trading, you can try LakeBTC, you can put USD or BTC into CNY to do trading, which is free, it can help you save a lot of fee.
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Ninietz
Member
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Activity: 106
Merit: 10
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July 18, 2014, 07:33:11 PM |
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I think a lot of people think they can strike it rich by day trading, but very few people can make a living off of it. It takes up a lot of your time as well, but good luck if you try it.
Spot on. Day trading is a loser game. I have not seen many successful stories so far in the day-trading. The only thing i did hear is that it is very, no sorry, extremely stressful and on the long run it eats you from the inside out... Best of luck with the ones that try.... |
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cookiemonsterwhat
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July 18, 2014, 09:27:37 PM |
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the catch is you dumping more of your hard earned bitcoin to a losing game.
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ajareselde
Legendary
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Activity: 1722
Merit: 1000
Satoshi is rolling in his grave. #bitcoin
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July 18, 2014, 10:30:17 PM |
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Hello, I'm just interested if is it possible or there is some catch. I see that price of BTC on stocks is different (of course) but the difference is big enough to make money with just buying on one stock and selling on the other one. So my Q is what's the catch? I already checked fees and still it's should be ok. I've never trade BTC (yet) so correct me if I'm wrong or there is only classic risks like falling price.. I check price @ http://bitcoincharts.com/markets/currency/USD.html Thanks in advance for your time. Theres no real catch, follow the news, and react before the market does. Alot of coins are manipulated, and thats why its so hard to make a profit. Most interesting market for me is LTC-BTC pair. it moves daily, so its kind of interesting, but the manipulation is obvious. cheers |
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Mobius7
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July 18, 2014, 11:54:32 PM |
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I think a lot of people think they can strike it rich by day trading, but very few people can make a living off of it. It takes up a lot of your time as well, but good luck if you try it.
Spot on. Day trading is a loser game. How come some people still do it then? If you're not too greedy, and you're satisfied with profits of about 10% on a trade, and you don't panic sell or buy, it's not that hard not to lose money really. 10% is a lot for a trade that is done by a day trader. Most day trader try to make a lot of trades with small gains, hoping that these gains add up over time. The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit. |
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Marbit
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July 19, 2014, 07:20:18 AM |
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The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit.
You need to always factor the fees into every trade. Every trade you enter, you are immediately already down by the fee + spread. So you need to plan accordingly, and not play for minimal gains that threaten to become losses. |
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Mobius7
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July 19, 2014, 07:34:27 AM |
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The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit.
You need to always factor the fees into every trade. Every trade you enter, you are immediately already down by the fee + spread. So you need to plan accordingly, and not play for minimal gains that threaten to become losses. Yup, and that's why I (without much luck and knowledge in day-trading  ) prefer to simply hold my bitcoin instead of trading it. |
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Marbit
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July 19, 2014, 07:49:23 AM |
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The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit.
You need to always factor the fees into every trade. Every trade you enter, you are immediately already down by the fee + spread. So you need to plan accordingly, and not play for minimal gains that threaten to become losses. Yup, and that's why I (without much luck and knowledge in day-trading ) prefer to simply hold my bitcoin instead of trading it. That's fair enough. I trade, but I wouldn't consider it day trading. I think we see cycles that are predictable enough -- long term tops and bottoms are impossible to call, but once we see clear failure/recovery, the trade is usually worth making. |
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ShameOnYou
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July 19, 2014, 09:04:31 AM |
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The more trades you make, the more trading fee you need to pay, and the fee will eat a big proportion of your profit.
You need to always factor the fees into every trade. Every trade you enter, you are immediately already down by the fee + spread. So you need to plan accordingly, and not play for minimal gains that threaten to become losses. This is exactly why I don't day trade. I just don't see a risk/reward that seems worth it to play $5, $10 moves. If BTC falls a lot, I buy. If it rises a lot, I sell. Generally, this has done me pretty well.... |
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gondel
Legendary
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Activity: 1946
Merit: 1005
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July 19, 2014, 10:58:08 AM |
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Hello,
I dont get it. Price at Bitstamp is always like 10+$ more then BTC-E. If you buy from BTC-E and sell on Bitstamp even with the taxes is profitable. Right now the price of BTC is around 620-630 for a long time. Isnt that going to be really profitable if you do this a lot of times doing the same and the same again. Buy from BTC-E sell to Bitstamp, withdraw USD from Bitstamp and Deposit to BTC-E?
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Salmon1989
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July 19, 2014, 11:03:58 AM |
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Hello,
I dont get it. Price at Bitstamp is always like 10+$ more then BTC-E. If you buy from BTC-E and sell on Bitstamp even with the taxes is profitable. Right now the price of BTC is around 620-630 for a long time. Isnt that going to be really profitable if you do this a lot of times doing the same and the same again. Buy from BTC-E sell to Bitstamp, withdraw USD from Bitstamp and Deposit to BTC-E?
1. For selling your bitcoin on bitstamp, you need to pay 0.2% to 0.5% trading fee. 2. For withdrawing your fiat from bitstamp, you need to pay a withdrawal fee. 3. For wiring your fiat to btc-e, you need to pay some fee as well. 4. For buying bitcoin on btc-e, you need to pay 0.2% trading fee. 5. For withdrawing your bitcoin from btc-e to bitstamp, you need to pay 0.001 btc as fee. Not sure if I missed anything. |
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HarHarHar9965
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July 19, 2014, 09:47:50 PM |
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Hello,
I dont get it. Price at Bitstamp is always like 10+$ more then BTC-E. If you buy from BTC-E and sell on Bitstamp even with the taxes is profitable. Right now the price of BTC is around 620-630 for a long time. Isnt that going to be really profitable if you do this a lot of times doing the same and the same again. Buy from BTC-E sell to Bitstamp, withdraw USD from Bitstamp and Deposit to BTC-E?
It takes time and headache to complete the arbitrage process. Wiring money into BTC-E is apparently not easy and people often face delays in getting credited properly. In that time, the price could go up considerably. |
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Cryptopher
Legendary
Offline
Activity: 1789
Merit: 1008
Keep it dense, yeah?
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July 19, 2014, 09:59:36 PM |
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Hello,
I dont get it. Price at Bitstamp is always like 10+$ more then BTC-E. If you buy from BTC-E and sell on Bitstamp even with the taxes is profitable. Right now the price of BTC is around 620-630 for a long time. Isnt that going to be really profitable if you do this a lot of times doing the same and the same again. Buy from BTC-E sell to Bitstamp, withdraw USD from Bitstamp and Deposit to BTC-E?
Inter-exchange arbitrage is a waste of time and sometimes money 98% of the time. Inter-market arbitrage is where it is at. |
Sign up to Revolut and do the Crypto Quiz to earn $15/£14 in DOT |
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Argwai96
Legendary
Offline
Activity: 1036
Merit: 1000
Thug for life!
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July 19, 2014, 10:40:14 PM |
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Hello,
I'm just interested if is it possible or there is some catch. I see that price of BTC on stocks is different (of course) but the difference is big enough to make money with just buying on one stock and selling on the other one. So my Q is what's the catch?
It's just not that easy -- if it were, most traders would make money. But they don't. 80% on average would lose, statistically, so I'd say the catch is that you will probably end up losing. Your mileage may vary, though.  |
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tsm
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July 19, 2014, 10:50:46 PM |
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Hello,
I dont get it. Price at Bitstamp is always like 10+$ more then BTC-E. If you buy from BTC-E and sell on Bitstamp even with the taxes is profitable. Right now the price of BTC is around 620-630 for a long time. Isnt that going to be really profitable if you do this a lot of times doing the same and the same again. Buy from BTC-E sell to Bitstamp, withdraw USD from Bitstamp and Deposit to BTC-E?
Inter-exchange arbitrage is a waste of time and sometimes money 98% of the time. Inter-market arbitrage is where it is at. A dumb question to I`m new at this, whats inter-market arbitrage? |
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