Anyone here into trading?

[plmichal]

Second day of GBSN. Same thing. In at .215 after the panic and out into the .25's.

[decay]

Is it true? I thought they almost all were mined

first; no. https://blockchain.info/charts/total-bitcoins
the maximum number of bitcoins that ever *can* exist is 21 million, but the protocol adjusts to the amount of computing power the miners are contributing, such that the amount of bitcoins that will exist always follows the straight line in that graph.

second; the early adopters got rich from mining on their computers at home, nobody else is going to. it's an industrial-level operation now. data centers full of bitcoin miners.

third; this thread is about trading, which is why i bring up bitcoin as a speculative commodity. http://bitcoinity.org/markets

i have automated buys set up that trigger a few bucks every few days, and when i see a big dip, i do a manual buy. i sold off my early stash when it was much higher, but i'm up about 20% since selling off when the last bubble burst.

the real value proposition of bitcoin, in my mind, is that it makes international monetary transfers much less costly. my gf is from macau; when her dad sends her money it costs $20 on the sending end and $20 on the receiving end. if he sent her bitcoin instead, the transfer fees would be measured in pennies, not dollars.

[Pantless Spency]

Yeah I looked into there stocks very interesting. Bitcoin is an interesting beast.


I wish I woke up a little earlier and had time to market better. $ATV started out today opening at $2.XX and spiked today at $21 a share, now it's at like $18.XX as of close. Talk about gains.

[Reichart12]

Me and a coworker have been using robinhood for a week or so now. We get a lot of downtime to search stocks and whatnot. Just starting with $50 to play around but its a fun thing to watch over.

[nrubenstein]

People who are really good at this don't generally share the info. And the real money is algorithmic. It's very hard to beat people whose primary latency problem is the speed of light.

Day trading only works at all of you have a lot of free time to focus on it. Which, you know, rather conflicts with having a job - and which makes it that much more important to have a reasonable chunk of cash that you can afford to lose.

[nando]

be careful with taxes as well. If you aren't careful with how you buy/sell you could end up having to document 100's of trades come tax time.

[Pantless Spency]

Yeah I hear if you are trading too often, like more than 5 buy/sell a week, you'll get fucked at the end of the tax season.

I was messing around with td Ameritrade until I got fucked the other day.

Only shares I've had is 110 shares of gbsn, I bought in at like 0.17 ($40 worth after fees -.-)
a share, lately it's just been going lower and lower, I still check up on it daily to see if it shot up.
Log in the other day and gbsn is $5 a share! I'm like yippee time to sell! Go to my shares and I have 1 share I'm like wuttttt. They did a 60:1 reverse split, I'm like okay whatever, but then td Ameritrade charged me $38 for organizing fees :hitler:

So now I'm like $80 in on one share at $5 and I'm like maannnnnnn fuck that lol.

Took all my money out of td Ameriscam and put it in a robinhood account.

[phreshkid]

Yeah I hear if you are trading too often, like more than 5 buy/sell a week, you'll get fucked at the end of the tax season.

I was messing around with td Ameritrade until I got fucked the other day.

Only shares I've had is 110 shares of gbsn, I bought in at like 0.17 ($40 worth after fees -.-)
a share, lately it's just been going lower and lower, I still check up on it daily to see if it shot up.
Log in the other day and gbsn is $5 a share! I'm like yippee time to sell! Go to my shares and I have 1 share I'm like wuttttt. They did a 60:1 reverse split, I'm like okay whatever, but then td Ameritrade charged me $38 for organizing fees :hitler:

So now I'm like $80 in on one share at $5 and I'm like maannnnnnn fuck that lol.

Took all my money out of td Ameriscam and put it in a robinhood account.

I love reading about the misadventures of Spencer's pants. It's like you have the worst luck, but you usually mean well. And somehow you stay positive throughout, which is also nice to see.

[Pantless Spency]

I love reading about the misadventures of Spencer's pants. It's like you have the worst luck, but you usually mean well. And somehow you stay positive throughout, which is also nice to see.

my parents raised me right :D
and R3V hardened me like forged steel, you have to have thick skin on here, especially if your pantless spency.

[decay]

Spence, here's my advice. Just play with a few bucks, but get a http://www.coinbase.com/ account. Bitcoin is extremely volatile so if you want to play with day-trading it's a great sandbox (and the transaction fees from Coinbase will be pennies).

Then start reading the news, global economy and politics, like it's your new religion. NY Times, BBC, and the Economist are a good start. This will give you some insight into why markets do what they do.

Example: Why is Bitcoin up ~$50USD over the past month? China is 1.) devaluing their currency again, and 2.) more rigidly enforcing laws that prohibit moving money out of the country. So; flight of Chinese liquid assets into an anonymous currency that doesn't know or care what country you're in is not at all surprising.

#1 above is also the reason the stock market is slightly depressed; so I'm down a few bucks in those investments, but not as much as I'm up in BTC value.

[Pantless Spency]

Spence, here's my advice. Just play with a few bucks, but get a http://www.coinbase.com/ account. Bitcoin is extremely volatile so if you want to play with day-trading it's a great sandbox (and the transaction fees from Coinbase will be pennies).

Then start reading the news, global economy and politics, like it's your new religion. NY Times, BBC, and the Economist are a good start. This will give you some insight into why markets do what they do.

Example: Why is Bitcoin up ~$50USD over the past month? China is 1.) devaluing their currency again, and 2.) more rigidly enforcing laws that prohibit moving money out of the country. So; flight of Chinese liquid assets into an anonymous currency that doesn't know or care what country you're in is not at all surprising.

#1 above is also the reason the stock market is slightly depressed; so I'm down a few bucks in those investments, but not as much as I'm up in BTC value.

I'll have to check that out. Thanks man.

Yeah I've just mostly been sitting on the sidelines, learning, watching, if something flys like ATV did two weeks ago I'll jump on it.


Now with robinhood though I don't have to worried about stupid fees. So I can throw like $100 at a bounce of a 0.20 cent stock, make like %10 return and cash out.

[kickinindian]

told ya no fee is the shit. idk how long they can keep their business model but for now they can keep the interest off of my account.

[kickinindian]

picked up a few shares of ACW (accuride) its up 5% in 2 days worth a look.

[Pantless Spency]

picked up a few shares of ACW (accuride) its up 5% in 2 days worth a look.

Interesting.

[mbonder]

Honestly, the ones that I've been watching are ETFs. With either 2x or 3x the market they have good volatility and you can make some quick money if you time them correctly.

My favorites are TNA, TZA, YINN, and CHAU.

TNA especially has offered several opportunities since October to make 10-20% in a matter of a week or two. For instance it dropped to $59 this past thursday and has rallied to $67 before dropping to $65 today. So if you timed it right you could have made over 10% in 3 days, not bad…

YINN is even more volatile as China has been really up and down, but that dropped to $14 in October and then rebounded to $26 in a matter of 3 weeks, nearly 50% profit.

All of this is great if you've got the money to invest, which I didn't, but I pay attention to them for the time when I will have some money to play with