looks good for the shortfags
Blood on ETH
Chase Johnson
Chase Martin
its -$6 dont get too excited idiot
Adrian Bell
can short squeezes happen in crypto? im assuming they can
Brody Lewis
What exactly does it meant to "short" something?
I tried looking it up but I do not understand how exactly it works, especially in the crypto market.
Alexander White
lurkmoar
Daniel Martin
dumb nigger
Xavier Russell
just that the wall @ 270 has been anhihlated.
Wyatt Nelson
You borrow money from an exchange and buy high later to sell low now.
Luis Howard
Don't listen to butthurt bagholder fags
Short means you sell coins high and buy back lower. Should be done on margin (meaning you borrow the coins)
Long is the opposite
Jacob Turner
Bentley Wood
update: long bagholders are fighting a losing battle
the market can recognize a shitcoin
Alexander Miller
>comparing altcoins to USD instead of what they're actually tethered to
It's like you want to lose money desu
Henry Brown
Where do you have this graph ? you have to login on GDAX ?
Meawhile, 265 is holding nicely, time for the short to take some profit if you're going to sleep
Lincoln Baker
cryptowat.ch
here u go sempai
Brody Adams
>never setup an account for shorting
>obviously it was going down
>could have made thousands
>didn't
GDAX needs to hurry up and support shorting
Literally free money
Jayden Walker
gdax already has margin trading senpai
Carson Young
You can't short on GDAX, you can long
Mason Stewart
Will ETH hit $250 or not
Wyatt Murphy
Actually I'm retarded
One place I read said you couldn't, another said you could
Still hesitant to lie about ECP
Joshua Ward
The exchange lends you extra coins based on some other form of collateral. Some give you a margin account, others look at the total amount of currency you have. Some let you go into debt.
So if you think ethereum is going to tank, you borrow extra coins for a set amount of time and sell them right away.
If the price drops, you have to buy back the coins you borrowed to give back to the exchange - but because of the "leverage" you can keep the profit on all the coins you borrowed. This therefore has the potential to increase your gainz by mad factorz.
However!!
If the price increases, you can sell at a loss before it gets past a certain limit - at which time the exchange will liquidate your position - i.e. Automatically take most or all of your stash to buy the coins you are owed. Congrats you just lost everything to a margin call.
It works the other way (you can borrow extra coins to sell in the future - this is called going long. Once again you can lose everything - in this case if the market price of coins ever goes down significantly)
Leverage trading is not recommended unless you have some kind of insider knowledge, have some kind of proven system and are ready to accept massive amounts of risk.
Don't do it user :-)
Brayden Carter
Leverage is quite dangerous indeed. Say you have 1 BTC, you can borrow 5 BTC worth of ETH on kraken and sell them, That makes you 5 BTC and you buy back later the same amount of ETH for 4,5 BTC
But your margin is 1 BTC (your collateral) and if you loss reaches 80% of you collateral, you are forced to buy back ETH at market price ( if the sum needed to buy back your ETH is 5,8, then you are liquidated) and you lose 80% of your initial investment.
Justin Carter
Haha still going strong on my short since .125
- Merk
Jack Wilson
thanks user
Funny that cryptowatch provide services for kraken (they sahre the same interface)
Quite nice cuz when you short, it displays a DOT on the graph so you know visually where you have sold
Owen Barnes
probably
the weekend has only begun