Bitcoin Forum

How many coins do you roughly use for day trading?

Wow, quite a few in the 50-100. If you own 50 btc you are in the top 200 richest club according to this website! http://bitcoinrichlist.com/top100?page=1

Most of the money is owned by the 1% naturally.

And some of us use them oh so roughly I can tell you that!  :D

About 21million.

 ;D

Nobody with balls to day trade $60k of volatile stock is sitting here reading bullshit on the speculation forum.

What do you imagine them doing?

Trust me, they have nothing better to do  :P

 I am not on this list. I have 1000 of addresses, each with 5btc on it. And some of the big addresses are cold storages of for example coinbase with really many owner. Don't forget about this...

I don't daytrade.

 ;D

That's not true.

I generally have $30K of liquidity sitting around in Bitcoinland. Since I am a late adopter as far as speculation goes (Late Nov 2013), this basically represents money that I had to earn and save, as opposed to having it thrust upon me just cos I bought a few Bitcoin and held onto them a couple of years back.

I both sit around reading and typing bullshit on this forum. When someone si glued to chart progress a 'diversion' of attention is required, especially one which they can pretend to themselves is relevant to what they are doing......

......and actually, that is not entirely fair. There are a few diamond posters around here that I can definitely say I have learned things from and this place is also a good source of news/fud affecting Bitcoin.

I bought 2 coins for trading 1 time but after deeper thinking i realised its better to hodl them and moved them to my offline stack for better purchasing power in the future.

I have .20BTC in Crypsty that I use for day trading (as a hobby). As of now I'm trading only Bitcoin, Litecoin, and Dogecoin.

I check Cryptsy at a minimum of 4X daily (8AM, 1PM, 5PM, 8PM). Simply put, if my investment value is up .01 BTC, I trade in full (all or nothing). Otherwise I wait. No emotion, no speculation...just numbers.

As,of now I have 94,000 Dogecoin with a current value of roughly .180 BTC. So I'm down, which sucks. But if and when I see the value of those Dogecoins are worth .210 BTC or roughly 8.5LTC, I'll make a complete swap.

My goal is to climb the ladder from .20 BTC to .50BTC. So far I'm down.

Keep a close eye on LTC. If it slides down to a nice low, maybe below 0.02 or even 0.01, just switch everything up into LTC and then wait patiently. You may be waiting months, but when that shit rallies against BTC, it doesn't fuck about. You could easily see 5x from 0.01 to 0.05, and LTC is a fairly safe hold IMO.

This is great advise, except that I always let my impatience get the best of me. Example: About 3 weeks ago I bought .20 BTC worth of Fedora coin which was about 3.8millions tips. I waited and waited, and was just waiting for that one big day. 3 weeks later I went "screw it" and converted then back to BTC At a small loss. Meanwhile, yesterday Tips went up 151% before coming back down. THIS WAS THE KIND OF DAY I WAS WAITING FOR...but got impatient.

I have 94,000 Dogecoin which have been slowly decreasing in value. My brain says HOLD, because eventually Dogecoin will have a good day. I'll keep a close eye on LTC as you recommend. Thanks.

You'd be surprised. :)

At the end of the day.... I've gone full circle.... the internet is basically dead to me outside of bitcoin, forums and IRC....

You misread the list then.

Leaving the explanatory power of the list aside for a moment (basically, it naively assumed a bijection between individuals and btc addresses), the Top 500 ends at around 2k coins.

Nein!

Only 9 coins? That's not much :D

Everything I own is up there to trade (few hundreds).

Not all are in trades all the time but if I decide there is opportunity I won't back of trading all of them, either for USD or alts/shares etc.

edit wrong tread

I usually put in multiple trades of 1000+ BTC on an average day  8)

P.S. I don't work for MtGOX :D
P.S.2. Don't trust people on these forums :)

Umm... no you're not. If you own 100 you're in the top 10 thousand. http://bitcoinrichlist.com/top500?page=21

For me, it would be more informing to see with which percentage of their coins people daytrade.

A day trader has a lot of free time and need to have a feeling of what is happening in the community, reading bitcointalk can help him get this feeling

It is unlikely that someone trading thousands of bitcoins will come explain what he is doing though

Having hundreds of coins on gox isn't that great right now, is it

LTC is also a good one if you have some patience, and you feel that you don't have enough money to effectively buy into BTC.  I hold about 70% BTC, 30% LTC.  Because of the timing of everything, my LTC has outperform my BTC by far...