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Question: How many coins do you roughly use for day trading?
0.01-1
1-10
25-50
50-100
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1000s
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Author Topic: How many coins do you roughly use for day trading?  (Read 1912 times)
Cyberlight
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February 24, 2014, 07:36:48 PM
 #21

edit wrong tread
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Wilhelm
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February 24, 2014, 09:32:13 PM
 #22

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

P.S. I don't work for MtGOX Cheesy
P.S.2. Don't trust people on these forums Smiley

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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February 24, 2014, 10:25:35 PM
 #23

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.
Umm... no you're not. If you own 100 you're in the top 10 thousand. http://bitcoinrichlist.com/top500?page=21
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February 24, 2014, 11:13:29 PM
 #24

For me, it would be more informing to see with which percentage of their coins people daytrade.
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February 25, 2014, 12:13:11 AM
 #25

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


You'd be surprised. Smiley

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

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

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February 25, 2014, 03:10:59 AM
 #26

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.

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...
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