Hi so Ive traded a few times on here and I want to get into arbitrage trading. It seems easy, just markup the price, make sell, go back around and purchase at current price, right? Im looking at the strategy’s on how to manage the net and ways to avoid trading fees. Are there spreadsheet templates for this kind of thing? Im not good at creating spreadsheets.
Welcome to trading. I think you can get decent profits out of being a merchant on here but its not as simple as you may think. I’d say most traders on here are just occasional and just want a different form of currency from the xmr that they are holding. With the crypto winter now is a great time to frequently trade between xmr and fiat, during the last bull run it was hard to maintain steady profit as a merchant due to such voitlate flucuation. Depends on your medium though, and how you will purchase xmr again.
Yeah not to mention the payment methods that deal with banks. Ive realized not all money is good money here. I first began accepting Zelle payments and things were going good until my bank froze my account and now Iam no longer enrolled on Zelle. I cant get Zelle back. My advice for others is you need to verify your first time traders otherwise you can be in the middle of some fraud accusations. Its a tough lesson. Ive looked at other merchants and how they have there terms of trades formatted.
I hope to come back around to localxmr & btc with better legitmacy status because my bank accounts are closing thanks to all this.