Balimund is the smither in Riften but I always seem to get caught pickpocketing him.
I want his money because he usually has alot but iv tried everything to pickpocket him.
Hows?

I tend to do it a more traditional way that I benefit from at higher levels and always returning with pulls packs.
I sell him my [censored], I deplete his money reserve.
A couple measly necklaces of high quality are usually all it takes to break a merchant.

wait for him to go home

So baisically you just sell him [censored] until his moneys gone?
@TESaddict iv done that he never seems to go to bed

Yup, I tend to have a lot of high quality jewels and jewelry stored up over the past few adventures, most of which are worth enough to make decent return after selling a few. On average, I've seen Merchants have between 700-2000 gold on them at any one time, and this is without the Speech perks. Most of the trinkets and gems I find have a base value of around 400-800 a piece.