Do you even understand how much money you can make? How much money do you really make daily by day trading?
Here’s how to get started daily trading with bitcoins – this is going to get a little technical but I hope you get the point.
1: If you’re like most people, you are going to have to have a bitcoin wallet in order to keep track of the value of your bitcoins!
I am not a big fan of wallet providers, I prefer to use a desktop wallet which I use for my own portfolio as well as for the price of bitcoin trades. I do recommend going for an offline wallet for safety’s sake but if you’re not willing to sacrifice any security, then you could always use a web wallet or bitcoin exchange such as Coinbase to keep track of your bitcoins.
2: You can start making profit very quickly as long as you’re willing to keep track of your profit. As I’ve been recommending before, there are several ways to do this, here is a bit of information to help.
You can use Coin Dance to see your average profits per day for the past couple weeks
You should use BitTrade, a great and very detailed website which monitors your prices daily and gives you an idea of how much profit you’re making on the stock market
3: Most traders can get really good at it as long as they have good strategy and do a lot of research into markets. If you’re not sure how to profit from bitcoin trading then look into these resources – they’re all very good.
4: If you find you can make some decent money by day trading then make sure to check out the weekly charts and do some research about different stocks.
Bitcoin is trading at around ~0.30 now. So, the stock market has a lot of volatility going on.
You should try to get some background information about some of your favourite stocks, especially in the US, where they are relatively cheap.
These companies are likely to keep their prices very low and be very volatile, so they are likely to make really bad trades if you’re going to invest.
5: If you still decide to do this after reading my advice, then here are my two tips to getting started:
Make a list of all the stocks you’re interested in – in my opinion – it will help you make an educated decision on which one is best suited for you.
Check out my article on how to start a bitcoin trading
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