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14542977 No.14542977 [Reply] [Original]

no coiner here, is there some kind of hold limit on crypto that prevents you from selling right after you buy? why aren't you guys make thousands every hour just based on btc volatility? it really makes me link

>> No.14543116

>>14542977

people with bots do this and it's not as easy as you think to do it manually
plus trading fees impact your profit margin

>> No.14543133

>>14542977
10 good trades can be erased by one bad trade
Bots will eat you alive

>> No.14543137

>>14542977
Fucking fees, mostly. You could make a couple dollars an hour like this, but it's a lot of work to do manually. I guess a bot could do it too but you're relying a lot on the bot's algorithm to know when to buy and sell.

>> No.14543139

>>14543116
can't you trade without fees on robinhood or something

>> No.14543206

You need to buy/sell with a margin of at least 5 dollars to make this (swing trading) worth it in regards to fees and times. There are some good bots out there that manage this semi-successfully but even the best bots and signals will be lucky to net you 3% each day. If you try doing it manually you end up wasting hours upon hours of your day watching charts and will likely FOMO back in after the first swing misses your buy target.

>> No.14543269

>>14543206
Just set limit orders manually and check back once an hour. It's a lot less stressful. Maybe I only make $5-$8 per day, but it adds up.

>> No.14543309

>>14542977
youre free to try it yourself mr. smarty pants

>> No.14543397

>>14542977
Taxes can fuck you over

>> No.14543539
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14543539

>>14542977
I use coinbase because of the instant conversion between cryptocurrencies, as far as I can tell there's no fee or tax on it. I'd suggest just dipping your toes in with a couple hundred dollars or less, get yourself familiar with the functions of your chosen crypto platform, then go balls deep if you feel confident.
>then again i may or may not be autistic

>> No.14543739

>>14543539
are there any cons of trying it on robinhood first if all i want to trade is btc