Quote from: Hammerschmidt on January 11, 2017, 04:29:40 AM

Hello everyone,

I'm wondering if anyone buys and sells bitcoin like a day trader. Like maybe watching for a small gain, selling a few, watching for a small dip, buying back more from what you just sold, and so on.

Are there any reliable sites for this?

Thanks in advance for all who offer insightful advice.

Day trading is not appropriate for bitcoin trading as it has different volatility compare to altcoin. Day trading is fit for altcoin trading since everything is manipulated in most of the trading cases. Why try for yourself so you can compare it based on your experience.

Good sites* I can recommend is Kraken, Poloniex, Bitstamp (for BTC) and Poloniex (for other alts). If alts are not listed on the mentioned site, second option would be CCEX and Cryptopia.

Quote from: Hammerschmidt on January 11, 2017, 11:53:08 AM

My idea is to use the volatility to my advantage. I do not concern myself with the actual price, just how it changes. Many small gains add up due to the compounding interest effect.

For example if I buy 0.5 bitcoins for $500 to start, I wait for a positive price change. Let's say it goes from $1000/BTC to $1015/BTC. I sell 0.1 of my bitcoins and I have 0.4 left. Any price change under $1015 is a winning buyback for 0.1 BTC or less, since that's the amount I sold. Any price change still landing over $1000 is a winning sell for 0.4 BTC, since that's what I have left. Any drop under $1000 is a good buy.

Making many small trades like this over time will beat any "buy low, sell high" single clump trade.

It's just the fees kill you at 1% each. You'd need at least a 2% price swing on every trade, so a $1000 buy needs a $1020 price for s sell, and $1020 needs to drop to $1000 before a rebuy is triggered.

You can achieved in a duration of period of time but not on a sole day.