I am telling you EtherDelta is a goldmine. I've already made 500$ today, and the PPT price is increasing again, it might easily make 2000$ today just from trading and doing some arbitrages that I luckily caught.
Take a look at this shit:
Some guy is buying PPT @ 0.01 and somebody else is selling at 0.00998, in fact there are dozens of 0.00998 orders there, probably like 60 ETH worth if you scroll above. So literally if you buy that 60 ETH @ 0.00998 and instantly sell it back at 0.01, you can make 0.120240481 ETH profit out of thin air. That is like 23$ free money.
Another instance that I got on screenshot a few hours earlier ( I was watching a movie with my wife, could not post this earlier):
Buy at 600 , sell back at 733, in fact there were more orders > 600, which are all profitable, but it happened so fast that I could not Printscreen it faster.
In fact 10 minutes earlier before this screenshot, there were like 60-70 ETH worth of orders at >700 price meanwhile the 600 sell order was still there.
So literally they are giving away free money to everyone who is quick and vigilant for these opportunities. I mean just buying that 210 ETH stack and then selling back only half of it at >700 price is insane profit already, just from arbitrage, which carries little or no risk, and then like HODL the other half. So people don't even need to speculate, they can just take these arbitrage orders, with tiny risk and make money.
And there are many more, you might say that they are rare, but that is false. I bet you would see an arbitrage opportunity like every 30 minutes if you were to be glued to the screen.
I am telling you this EtherDelta is the best exchange there is, nowhere else you find opportunities like this. Just watch out for them. There is risk, I am not denying that, but it seems like the rewards massively outweigh the risks.
PPT Market @ EtherDelta:
https://etherdelta.github.io/#PPT-ETH
Disclaimer: The information provided on this page or blog post might be incorrect, inaccurate or incomplete. I am not responsible if you lose money or other valuables using the information on this page or blog post! This page or blog post is not an investment advice, just my opinion and analysis for educational or entertainment purposes.
Sources:
https://pixabay.com
Great info but trading with 60 - 300 Eth is quite heavy on the money. Does this pays out with little money as well?
Yes of course, 60-300 ETH is the total size of the order, it can be done even wit hthe smallest possible order, I think 0.001 ETH, but repeating it many times. Although people have to be quick these orders come and go very fast, everybody is looking for these opportunities.
However it's enough if people just take the buy side of the order, and then place themselves the sell order. In my opinion this way is more sustainable, it's pretty hard to take both orders at the same time considering that there is at least a 30 second lag since the Tx has to confirm on the ETH blockchain before the order is finished.
It's a P2P exchange, where you directly trade with other players, that is why the arbitrage exists, due to the lag.
congrats to that 500$ may you make more
Cheers!
pop the champagne or beer?
Not yet , I am waiting for the price to go back up to 0.02 which I think it will easily do perhaps later tonight. I might stay up until that happens. Champagne when the altcoins rise again, I have lost a lot of money in this altcoin crash.
So you're the one who is getting in my way when I'm on EtherDelta! ;-)
I ain't, I am just holding PPT now waiting for the price to hit 0.02 again.
I wrote an article that explains the math involved in a simple way to arbitrage across cryptocurrency exchanges. Important to know what you are getting into so that you will not be trading at a loss. https://steemit.com/arbitrage/@kesor/the-math-behind-cross-exchange-arbitrage-trading
https://steemit.com/gifto/@fifelue/tips-be-a-millionaire-using-arbitrage
I need to get more comfortable with the day trading thing, I really want to play and feel like I need someone to hold my hand through it...ugh.
If you want to play I think you should start with a low amount like 5-10$ and check it out if it's good for you. No need to rush into it.
Perhaps the hardest part will be to control your emotions. It's easy to get mesmerized by the profits but that only makes people bold, and when they are bold they make mistakes. That should not happen.
It's not so much the monies more than it is the process. I am confused by some of the exchanges. I am on Kraken, Gemini, Coinbase, Myehterwallet and a couple others but am utterly confused with the day trading. I've been adding coins to my wallet but no day trading yet because of said reasons but I'm ready to play.
I think you should take some quick online courses about the basic concepts in the market and trading, although most courses are for CFD type of instruments, like on most trading platforms nowadays, but EtherDelta is a OTC kind of P2P exchange, this is direct trading.
So the only rule here is just to buy low sell high, everything else is just side a issue.
Thank you. I've been looking at videos and will check into Etherdelta (Everyone seems to talk about that one) right now. :)
I'm into p2p in general.
Sounds great but crypto trading is something I know nothing about, are there any good courses on the subject you'd recommend?
I don't know search some tutorials on Youtube. But most of it is just learned in the moment. Starting with like 3-5$ throwaway money and playing around with that until all things are learned.
Great, thanks man :o)
Thank you @profitgenerator for a great informative post! I appreciate your support!
Yo, please stop talking about it and sharing information about it. Your hurting our business and yours. Trust me, your $3.38 profit from this post does not make up for the money you just lost by possibly getting someone interesting in doing this full time.
Indeed, but you overestimate the profit from arbitrage. How much you you make from it?
I don't think the profits are overwhelming, and you have to be very quick to do it. Now there are other ways to do it which are more profitable and I haven't talked about, but I guess if you are in this business you know it already.
Now that I have mastered registering my Eos my MEW, I am ready to tackle ED. It will likely take me as much time to figure it out as it did with MEW but that's the thing about life, once you practice something you can't forget it. I am pretty sure I can find a course on udemy.