Short ETH

Gigastrength
Gigastrength

I know you can short ETH through poloniex margin trading but I've never done it before. Is this good idea at the moment till it falls to about $8USD? can someone explain the process of shorting and how I do it?

All urls found in this thread:
https://poloniex.com/support/aboutMarginTrading/
StrangeWizard
StrangeWizard

Shorting is buying low and selling high over a short period of time. Now is a great time to short because Ether is super volatile

I usually monitor Australian exchanges and on Friday night I saw it go from $17 to $30 in 4 hours. I didn't short though cos I was a faggot who bought at $25 so I'm going to have to hold for now.

Shorting is high risk and stressful.

Crazy_Nice
Crazy_Nice

@StrangeWizard

hahahh oh I thought you make profit if it devalues so wouldn't you make profit if you shorted at 25 and it went down to 15 what it is now?
also can a short go fucked up and put you in debt? on poloniex it sais to put money into margin account to be able to short but is it possible if I invested 200 to short for me to be in debt thousands of dollars if it went wrong?

massdebater
massdebater

@Gigastrength

A short can get fucked! You can have your margin account liquidated.

Great time to short though. When you select loan rate on polo, put .018. It automatically sets it to 2, but loans are going for super cheap.

My short is averaged at .0139, still holding strong. Gonna take profit asap then reassess what to do next. Eth is excellent for trading today.

idontknow
idontknow

@Gigastrength
-Put your BTC into Polo
-Goto TRANSFER BALANCES and move your BTC from Exchange to Margin
-Click MARGIN TRADING
-Sell ETH

Done!

CouchChiller
CouchChiller

@idontknow

thanks pal

@massdebater

when you say that, could a bad trade fuck me up for the rest of my life? Polo is just hooked up to my email nothing much else so would it be a big deal if I was in debt to them or would it just mean I couldn't margin trade again on polo unless I wanted to make back what I lost?
I don't mind losing 200 dollars or the investment I put into it but it sounds risky if it could fuck me up for the rest of my life hahah

TechHater
TechHater

@CouchChiller

You won't lose more than you put in, it's a crypto exchange, they aren't going to put you in debt. They will liquidate your account if you go too far into the red.

Eth is being held up on false hope. No fundamentals suggest anything but more decline, no matter what Vitalik says (he'll say we need a hard/soft fork) we are going to see this thing die.

BunnyJinx
BunnyJinx

@CouchChiller
No, but you can lose the coins in your margin account. The system set up so you can't lose more than that. If your loss is greater than what you have in your account, the system will immediately sell everything and give the remainder, plus all of your funds, back to those who lent you the coin. You can't lose anymore than what's on your account already.

Techpill
Techpill

Start with the guide provided by polo:
https://poloniex.com/support/aboutMarginTrading/

Google the terms you're not clear on. Good luck.

New_Cliche
New_Cliche

@TechHater

if we short now and it runs down to a dollar how much profit are we looking at by shorting with 200 dollars? ( not much at all but all I really have in the account atm )

Need_TLC
Need_TLC

@BunnyJinx

oh alrighty so you have to invest pretty much half of what you have in your account to give you some give if it goes up and down?

Harmless_Venom
Harmless_Venom

About to drop

Wish I had more to average up

Emberburn
Emberburn

@Harmless_Venom

if I have 1BTC to short eth how much should I actually use to short it? should I keep some aside? and what's the process after you've done a sell margin?

WebTool
WebTool

@Crazy_Nice
No. Polo will liquidate type account based on your holdings to pay your debts.
And yes, shorting is borrowing a share and selling it immediately. You're assuming the price of the share will fall and you can pay back your debt at a cheaper price while keeping the difference.

askme
askme

@StrangeWizard
shorting is buying low and selling high
Try again bud. Shorting is selling borrowed capital at a higher price and buying back when the price drops to payback the borrowed capital, keeping the profit (or taking the loss) of the difference.

Firespawn
Firespawn

Just as a warning to idiots like me, I just lost a couple hundred bucks shorting eth using margin trading. Do not take too much risk.

eGremlin
eGremlin

@Firespawn
how?
when did you short?

JunkTop
JunkTop

@Gigastrength
Guys, It looks like Ethereum stabilized

StrangeWizard
StrangeWizard

Why would you short Eth now? The happening is over.
Because some shitposters on a Latvian glass blowing forum said to? You deserve to lose your money.

Spazyfool
Spazyfool

@StrangeWizard
The happening is over.

Coinlets, when will they learn

Supergrass
Supergrass

@JunkTop
@StrangeWizard
Eth has so long to go before it's 'stabilized'. Surely you're not as dumb as your pretending to be.

Raving_Cute
Raving_Cute

@Supergrass
Show me your short position

Ignoramus
Ignoramus

@askme
I want to short but not sure what amount I should short at or how to really do it through poloniex margin trader.
if I have 0.2BTC in my account and I use it to margin trade will the max profit I make be .2BTC? I heard somewhere you're "borrowing" coins so couldn't I just borrow 10BTC even if I only have .2BTC in my account?
please help I want to start shorting this coin

Dreamworx
Dreamworx

@StrangeWizard
Shorting is buying low and selling high over a short period of time
holy fuck

Nojokur
Nojokur

@Supergrass

This kid baka

haveahappyday
haveahappyday

Man if there's one thing i've learned over the last year and a half, it's don't under any circumstances short eth ever.
That thing is scary.

Either long or stay out if you're not sure.

TechHater
TechHater

All this "short Eth" FUD and not ONE person actually shorting it. I just want to see one green p/l position from someone putting their money where their mouth is.

Stark_Naked
Stark_Naked

@TechHater

well if someone helped me understand how to do it... I would be putting my money where my mouth is

Bidwell
Bidwell

@Stark_Naked
And you would have lost 20%+ in the last 5 hours

So, you know. Ignorance is bliss i guess?

Deadlyinx
Deadlyinx

@JunkTop
Please let me dump my coins while they are still worth something guys!

AwesomeTucker
AwesomeTucker

@Deadlyinx
kek, just look at the 24 hour graph

kizzmybutt
kizzmybutt

@Bidwell

lmao

FastChef
FastChef

@StrangeWizard
Shorting is buying low and selling high over a short period of time.

Seriously, either you're 14 or you're retarded.

Spazyfool
Spazyfool

@Raving_Cute
I have no coins.

Dreamworx
Dreamworx

I have now gone 30 eth 3x short at 0.0164

Did momma raise a fool? Momma might have raised a fool

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