I'm a software developer that has been interested in algotrading for many years now. I'm on a budget and at the moment trading securities would be pointless. So I'm looking at cryptocurrency trading. I have some questions:
1. Is anyone algotrading BTC?
2. On what exchanges?
3. What sort of analyses are you doing?
4. What types of strategies?
5. Where do you get historic data? Is it by the hour? minute? second?
6. Is it similar to trading equities?
7. Is scalping possible?
8. Do you trade any altcoins?
9. BTC is extremely volatile. How successful have you been?
10. Is there such thing as finding the "intrinsic value" of a cryptocurrency?
11. What are the transaction costs?
1. Yes
2. Binance, Kraken, Bittrex, top-tier exchanges
3. TA
4. Bollinger Bands or Fibonacci lines MACD, RSI.
5. Depends, but mostly hourly historical data
6. Crypto is very different as far as I understand because it's very unstable as the market is open 24 x 7.
7. Yes
8. Yes, altcoin could be profitable if you time the market.
9. So-so, I would say, of course I make money playing the price swing
10.Of course, market sentiments could also be a indicator as to where the price will go
11. Depends on the exchanges itself. As low as .05% fee if I'm not mistaken.