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Day Trading crypto currency

post #1 of 6
Thread Starter 
about a month into all this, maybe more.
my question is, if i've only got around $100 - $120 am i better off trading btc and trying to make a profit or something less valuable like ltc
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post #2 of 6
BTC is taking a dump right now, and you havent been watching the LTC market the last 2 months have you, straight nose dive.

Day trading makes really no money, because of the broker fees you have to pay to get your coins traded.

just my 2 cents after making 600% profit from mixing both LTC and BTC.
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post #3 of 6
You're better off not doing either as they are essentially the same as gambling. Think about it. At this instant Coinbase has BTC selling for 580.86. Even if you have some keen market insight as to whether or not this value will go up or down, how could you possibly know if it is going to go up or down in say the next 5 minutes? 10 minutes? Etc. The only person sure to make money off of those transactions is the exchange.
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post #4 of 6
Thread Starter 
well i don't mean to trade all day, more like buy low, sell high via btc-e
i just sold at 570 and have an order in for 540.
my idea was to just keep trying to do a $30 split like that.
i feel like if i do play the market i'd be better off with btc since it moves so quickly and in such huge candles.
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post #5 of 6
Quote:
Originally Posted by Jollyriffic View Post

well i don't mean to trade all day, more like buy low, sell high via btc-e
i just sold at 570 and have an order in for 540.
my idea was to just keep trying to do a $30 split like that.
i feel like if i do play the market i'd be better off with btc since it moves so quickly and in such huge candles.

lets look at it this way, It dropped 200 dollars in 3 days. i dont think its going to be a fast recovery anytime soon. People are losing their confidence.
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post #6 of 6
Quote:
Originally Posted by Deuce65 View Post

You're better off not doing either as they are essentially the same as gambling. Think about it. At this instant Coinbase has BTC selling for 580.86. Even if you have some keen market insight as to whether or not this value will go up or down, how could you possibly know if it is going to go up or down in say the next 5 minutes? 10 minutes? Etc. The only person sure to make money off of those transactions is the exchange.

How would you know? Well you take an educated guess based on a lot of crap you can look at. Gambling doesn't give you much stuff to base your decisions off of, so there is a pretty big difference there.

@OP, like someone else said, look at the LTC market for the past few months. You are much better off with BTC. I do not agree that day trading makes no money though. I have been putting in a few big trades during the big lows and selling at the big highs and I am doing pretty well smile.gif. I couldn't comment if you wanted to do trades every hour or something like that though.

So yeah go for it OP. It's just buy low sell high.
    
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