/biz/ - Business & Finance

>>8494404
>>8494434
>>8494498
>>8494517
>>8494591
OK. I fucked up. What about this one?

I've started doing this type of thing. I'm using 1 BTC and putting only 1/20th into each trade. Though I tend to go for 1%-2.5% profit in short 5 minute time scales. You have to do some analysis and time your entry points properly or you'll end-up bagholding/selling at a loss and if you're planning on making many tiny profits, a big loss can easily wipe out all your hard work. That's why I'll try to pull-out at breakeven if I think the price isn't doing what I expected it to. As I'm only investing 1/20th at a time, it's going pretty damn slow but it should speed-up if I'm successful. I also avoid low volume coins - anything with less than 600BTC in 24hours.

Because I'm a lazy fuck, I'm thinking of looking for better entry points on a 1-4 hour scale and trying to win 5%-10%. It's probably not the quickest way to get rich, but it's a repeatable, mechanical process that I'm hoping I'll eventually get the hang of. I've made 50+ trades and have not sold at a loss yet though I've pulled out at breakeven a ton.

>>2589427
>convert my AUD to USD on transferwise or OFX
>transfer USD to my US bank account
>transfer from US bank account to an exchange like Kraken or Gdax
>buy cheap delicious bitcoins
>transfer bitcoins back to AUS exchange and sell for profits
basically, arbitrage