Quote from: bits4books on December 07, 2013, 11:31:45 AM

When I first started out, I thought bitcoin day trading was going to be a breeze..

Then I lost a few thousand dollars trying to follow trends and swings.

Finally aware that bitcoin was subject to extreme manipulation and pump and dumps, I wanted to completely abandon bitcoin. I was convinced that buying and holding was the only optimal strategy, which it can be smart, but then I started using manipulation to my advantage and everything changed.

The simple truth is that manipulation will always exist. So instead of trying to day trade and make a quick buck, use the manipulation to your advantage.

The secret can be found in a saying that I'm sure we're all familiar with, "patience is virtue."

Take the bitcoin you have and move it to an exchange like btc-e. Put in a sell order that will give you a somewhat decent profit after fees are taken into account, and wait. No telling when, but your order will be filled.

Once this happens, place a buy order a reasonable amount below what you sold at. Once again, this buy order will be filled.

Continue to repeat this process, and I guarantee you will come out on top.

It has made me several thousand dollars now, and increased my bitcoin holding tremendously. Don't try to make a quick buck and get sucked into every panic buy and sell, but have a little patience and use pump and dumps to your advantage. They happen daily and always have the same result.

Let your greed subside and enjoy the ride, hope this helps.

I like this. I think it is a systematic approach.