1. In a constant environment, competition often tends to reduce species diversity. However, several theories predict that temporal variation in the environment can slow competitive exclusion and allow competing species to coexist. This study reports on laboratory competition experiments in which two pairs of planktonic rotifer species competed for a phytoplankton resource under different conditions of temporal variability in resource supply.2. For both species pairs, Keratella cochlearis dominated under all conditions of temporal variability, and the other species (Brachionus calyciflorus or Synchaeta sp.) almost always went extinct. Increasing temporal variation in resource supply slowed competitive exclusion but did not change competitive outcome or allow coexistence.3. Rotifers show a gleaner–opportunist trade‐off, because gleaner species have low threshold resource levels (R*) and low maximum population growth rates, while opportunist species have the opposite characteristics. In the competition experiments, the gleaner always won and the opportunists always lost. Thus, a gleaner–opportunist trade‐off was not sufficient to facilitate coexistence under conditions of resource variability. Instead, the winning species had both the lowest R* and the greatest ability to store resources and ration their use during times of extreme resource scarcity.