Polo f* ed up on forced liquidation. Need help now
I was expecting that position would be liquidated if it fell short of 20 % their maintenance level.
I woke up to see this. Thinking this could not be possible. Anyone has any idea how this could happen? Has anyone been in this situation before?
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That's fucking hilarious
you lost them 46 btc or what?
That is just some f*ed up shit right? I am not daydreaming?
You can say fucked you dumb nigger. I wouldn't close it, just hold till you are in the green. It's not like they can really sue you.
Do you have bitcoins on open orders?
Nope all colleteral is in margin account as in the beginning. It is not touched tho. But I can`t move it out either.
you've simply been liquidated..
you have to pay the difference back to the person you loaned it off... its automatic out of your maintenance that you needed to first get the loan
this happened to me... cost me $3k
you live and learn... its just an expensive learning process
try refreshing the page?
But in all pages it says it will be liquidated at 20 % how come did that one fail. I thought I could only lose half of my original investment if I started at 40 %. Now I m in minus for a system failure?
>$73000 loss
The numbers are correct. I would have ecpected a liquidation so that is the mystery for me.
was it a super fast dump?
It might be too quick for system to liquidate you to cover for the borrow fees so now the system wait for your position to come back so you can pay off the fees. But yeah. Your position is liquidated. Can you even close position
I cant close it but as far as it seems it was not in minus last night. So even then a liquidation should have taken place anywhere below 20 %
im assuming they try to close but due to the nature of the market they may be unable to (price moves too quickly, can't fill the order). i dont know about polo but kraken says " If the market moves against your position, you may be called upon by us to provide a substantial amount of additional margin Funds, on short notice, in order to maintain your position. If you do not provide the required Funds within the time required by us, your position may be liquidated at a loss, and you will be liable for any resulting deficit in your Kraken Account."
what coin was it? If it's STR, it went like 75% in a min. So yeah. That's the only occasion I can think that produce your screenshot.
Do you have any other coins/btc on the account?
bet it feels great putting all of your savings into a shitty random alt
wakeup call, its all a bullshit pump and dump, a short by some scamming company to take your money. why would you even want a job when you could wake up to this
op if not larping you fucked up. dont know why youd post here before contacting their support so youre probably trolling but
"Although Poloniex takes several precautions to prevent a user from defaulting on a loan, the high volatility and substantial risk of illiquidity in markets means that Poloniex cannot make any guarantees against default."
"If, after your positions and assets are liquidated, your account still contains insufficient funds to settle your debts to lenders, you will be responsible for any additional funds owed."
"Margin trading on Poloniex is HIGH RISK. You may sustain a total loss of funds, or owe money beyond what you have deposited to your Account. The high volatility and substantial risk of illiquidity in markets means that you may not always be able to liquidate your position." poloniex.com
>owe money beyond what you have deposited to your Account.
Well he sure wishes he didn't give them his ID now.
It was a short on a boomer coin yes. But the question is that a forced liq. should take place at 20. The position stayed between 0 and 20 for a long time obvously. Even after that for a few hours I got margin calls for below 20 percent.
I checked the market and emails only today so I dont think it was a simple price spike.
Has anyone gone below 20 and stayed there for more than a day or hours??
Well it's not like he has to give REAL ID in order to trade on polo. You can be anyone to trade on Polo.
I hope he's not a verified user. He can make a new account and leave that one behind. If he's verified. Polo might go after your bank to get the funds.
As far as I see it polo fucked up last night during ddos. Not in us so good luck with that. They dont trade on fiat.
I did try all channels. 24 hrs to 48 hrs they say.
who in their mind goes to sleep with open positions?
"defaulting on a loan may result in Poloniex reporting your activities to authorities and/or in legal prosecution."
they have a legal team for this stuff. better deposit the btc or they'll sue for it
>they'll sue for it
guess he has a chance to win if he has evidence that this was due to downtime
why should polo be held responsible for a ddos that came from the outside. It was not their fault that the server got attacked and had lags/downtime
they're providing service and loss was due to that service unavailability, simple (unless this situation is in an agreement)
margincucks, when will they learn.
It is not about ddos. I ll sum up:
I had a short position. It fell below maintenance around 10 pm european time. Even after 8 9 hours it was not liquidated.
I would understand a price spike but this has happened for 8 hours straight. So I am not wondering how it happened.
The question still remains as to :
Has anyone gone below 20 % in such a long time. If so how did it end? I wonder what polo has to say about this. It is their claim that they would liquidate. Otherwise I d have put a stop order.
op raped by str lol :D
No, it's their claim they MAY do that.
"Poloniex may seize and liquidate any or all of your positions and assets on any balance in your Account in order to settle your debt to lenders"
What don't you understand about the word "may"?
Thanks for copy pasta I have read all before you even looked for it. Both in tutorial and even margin trading page they say they would.
So we are stuck in a limbo here the debt is gonna rise with price. I cant technically close position since minus 1. And I ll be responsible for this happening. However you look at it I kept asking the same thing.
Other than a price spike. Has anyone seen anything like it? In a moderately long time not being liquidated on time.
>ddos
Nice joke, it was just their servers/database being absolute shit. Group of whales dumped a ton and the server couldn't keep up and went down, the god damn web page lags all the time as it is during peak hours. You'd think with all the money they make they can afford to upgrade it.
JUST fuck my life up with internet meme money
Let's hope Poloniex tries to sue someone. We could use some names other than a random musician behind this #1 exchange with no real office and no accountability
Ive had a eth long going for over a month now
what? the ceo is on linkedin
Same op, I woke up with 5% on DOGE/BTC 2.5 leverage. I thought you couldn't get under 20% and my mailbox was full of "Liquidated" emails. At first I was lost too but I did nothing and now I'm almost in the green. Good luck with that my margin friend
What happens when your account gets liquidated?
What the FUCK are you idiots doing?
Don't fucking trade margin on these shitcoins.
Liquidation price should always be N/A.
How did OP get 43 BTC in the first place? This is a typical Poloniex Slaughterhouse mistake.
Whenever high volume coins pump, Polo conveniently goes offline, the whales dump on the order book.
What did you think? That everyone could get rich with this? Trading is a zero sum game. You lose.
Doesn't he have 4btc and is on a 10x margin like a true crazy?
Polo doesn't offer 10x. Max is 2.5x.
Let me guess, you shorted $XRP
This exact thing happened to XRP today
It's Poloniex, not a real brokerage, so you can just get rid of your account and say you fucked up.
In fact, if I were you, I'd liquidate now and withdraw immediately, and then just not log back into Poloniex. They won't be able to find you.
If you faggots hadn't been greedy and just sold at 4000 like a normal person then you wouldn't be in debt. Should have sold before the price started insanely going up to 4400, 4800 and lagging up the whole site.
I'm surprised by how many fucking newfags were on that pump. You genuinely thought that was a mooning coin? You're retarded. There's only like 5% of coins actual mooning and a moon chart does not look like that.
It the monthly 10x pump of the weekend for Poloniex as usually schedule. It's the 6-12th date when whales start pumping 1 random shitcoin like Pot, Cure, Boolberry, Foldingcoin, Bela.
This.
I make money trading. Just stop being greedy.
No you got liquidated you have left over funds that have an impossible high base range.
I had 160k ripple liquidated because Of their cuck fucking shittt servers that caused me to lose it all. They won't do shot for you. They are jew cucks . Fuck pooloo. Fuck then hard mate. They had their servers crash and I'm the one who loses 160k ripple. Let them fucking burn
Its not necessarily zero sum. More fiat money can get injected into the exchange with new traders.
>leveraging
>on cryptos
>were one tick moving price by 1% is "normal"
>were liquidity is paper thin
20% maintenance margin is too low for such volatile and illiquid markets hence stop out fails to protect from negative balances. Even in FX 20% stop out level is almost unheard of and that market has tons of liquidity and no where near the volatility of cryptos.
That's zero sum, it just means the hot potato queue got longer.
Until the loan expires.
>he doesn't trade 10x leverage on bitcoin
pussy