If you know anything about day trading, then Bitcoin holds a great potential for you to make some profits.
Of course, there is no trading that is without a risk so we want to make it very clear – you are responsible for your own actions.
If you decide to trade or invest your hard mined, earned or bought bitcoins and for some reason you lose them, then you can’t blame us for your misfortune.
We simply provide the information – what you decide to do with it is entirely up to you. Also, always be extra careful when you trade because sometimes mistakes do happen and that may cost you.
Now that the warning is out of the way, let’s move.
Since bitcoin price can exhibit high fluctuations, someone who understands these movements and the market overall may try to make some predictions and profit. Sometimes profits can reach quite delicious values if you know what you’re doing.
There are times when the price simply goes up and if you have enough bitcoins at that time and you sell them, you will be making a very nice return on your investments. You can have a look at some of the price movement charts for the past few days in order to see what we’re talking about.
Buying at a low point and selling at a high point can be quite profitable indeed, but the risk is still there because no one is to guarantee that there won’t be a significant drop in price. After all, even though the Bitcoin price has somewhat stabilized, fluctuations still exist.
You have been warned (again)!
If you want to trade, then you have to find a good bitcoin trading platform. BTC-E is a very popular platform for bitcoin day trading.
There are many options there, as well as very good candlestick charts you can use in your technical analysis in order to make an informed decision.
If you don’t know the terms of technical analysis, candlestick charts and day trading, then you need to learn them first, otherwise the only way you will make any money is if you get very (very, very) lucky.
There is also a trade bot (the BTC-E Trade Bot) offered for the platform. You can program your strategy into it and let it buy/sell and preset the values.
It comes pretty handy when you don’t have the time to follow everything but you have the feeling that there will be a high or a low you wish to utilize.