Does anyone else do this?

I never see anyone on here talk about margin trading on Polo. Do you guys recommend it? I've been margin trading ETH and STR and making really comfy gains with the 2.5X leverage. Loan rates are like .15% daily so it's basically free money so long as your investments go up.

Don't margin trade on full leverage
Don't short
Don't borrow at .15% you can easily get loans between .08 and. 1
You're at the mercy of whales at all times
Yes you can make good money in a short time
You can get caught with your collateral tied up at the wrong time. I just got caught in a long during black Friday. Took a decent whack

well, bitcoin is about to do something again, inb4 the second coming of black friday

Yeah I try to stick to 2X leverage. I buy in right whenever a big dip peters out and can almost always make 3% which is more like 6% with leverage. It's small but comfortable gains and never leave my position open longer than a couple hours. Why are only some coins allowed to be traded on margin? I could've made so much damn money on DGB if that was available to margin trade.

Also is there anyway to set a sell order with a margin trade or do you have to manually close them?

Could anyone give me a quick explanation on this?
How does it work?

>Don't short
I like shorting Ripple desu

me too am retrrd

You put your BTC in a margin account. This allows you to take out a loan with your BTC as collateral. The loan is typically around .1% a day. This allows you to buy 2.5x what you actually have with someone else's BTC. So you make 2.5x profits or 2.5x losses. I think there's some good youtube videos explaining it better but I just kind of figured it out on my own.

Thanks. I might try this after some of my shit is untied.

How much is enough to get started trading on margin? I made a lot from just buying eth early but I dont want to wipe my balance by being a dumbass on margin.
Is 500USD in a new polo account a good start?

Yeah but I would expect to get rich off this really quick. If you started on the bottom of a day like black friday youd be rich though. You have to buy the absolute bottom of dumps to make guaranteed money. And good God never short in a market like this. Not even once.

What account? Where do you sign up for the loan?

Click the margin tab. You can transfer balances from the Exchange to Margin accounts in a second. Whenever you place your buy order you also set the loan rate at which you want to get a loan. set it to .1% to pretty much guarantee that you'll get a loan.

The loans are limit right? If I left the default 2% loan I would get a lower loan if available.
Correct?

How do I loan bitcoins on exchanges? Anything aside from poloniex?
I only see a few coins at a given time on Poloniex like Monero and Eth, but nothing low-volume.
And do I lose just 20% or do I lose 60% depending how much I loaned?
Also I can never loan more than 3x my current BTC.

Just margin sell at the price you want. It will be listed as an open order

That's what i thought so i went full fiat and missed the ETH pump. Cost me 16k

You'll get cucked. Always set the loan limit to under at least .12%
The lower your set it, the slower it is to fill though so you need to find a sweet spot.

Aye, thanks

I'm an ausfag so it's late but maybe tomorrow I'll write up a guide with some info you don't get told that isn't in the FAQ
Like how polo will happily fuck you on loan rates

You should mate. Would be a great help

So it will close my long then?

help pls

if you want to stop your margin order you use a stop-limit order

The average poster on here should stay

the

fuck

away

from margin trading.