It's not wise to have alts at this point in BTC's market cycle, but if you do, leveraging BTC is the only proper hedge...

It's not wise to have alts at this point in BTC's market cycle, but if you do, leveraging BTC is the only proper hedge. Took a moderate loss with alts, but was able to make it make and then some with pic related.

Everyone on this board getting JUST'd and posting pink wojacks simply haven't put in enough time and effort into learning how to trade these markets.

It's possible to make money at ANY point in Crypto, you've just got to have a proper strategy, ensure you follow it and allow yourself time to learn emotional management and how you react.

I am open to questions.

Unfortunately I don't have enough money to have $1.2 million in exposure


If I have 3k in crypto split between ETH/OMG/ZRX, what should I do? Hold? Put some of it on margin gambling on bitmex?

Also it seems like it would be hard to emotionally manage a $100,000 margin position

gotta question, what exchange is this, i don't have these options on bittrex?

bitmex

Bitmex, it's a Mexican exchange

I have 2k euro on Kraken and make a bit from time to time day-trading(more like 2-3 day trading) and then I just skirt whatever I earn into my bank account.

Mostly ETH/BHC/BTC.

Do you think it's wise to play around with maybe 500 euro and yolo it into alt coins when this altcoin /crash/ is over?

Look at the ROE (+116%), and that's just on that particular swing. If you would've invested your 3k, you could be at over $6,000.

Everything is dependent on BTC at this point, so you pay attention to BTC, not any of those altcoins. With ETH for instance, if Devconfucking3 can't cause a pump, that shows the weak level of buying pressure at this point in time. I'd sell to be honest with you, as there is no floor in the foreseeable future, and BTC will pump to beyond $7,500 before a huge correction imo.

And the point user, is to be able to emotionally manage a 1 million dollar margin position without getting emotionally hung up. Trust your instincts, sentiment and indicators and go. Scared money don't make money.

Bitmex. Need VPN if from the US.

I'm thinking about moving into alts 1-2 days before the fork. My plan at the moment is to be mostly in fiat, but that could change if I see bullish alt market sentiment come fork time.

where's the best place to learn about margin trading? i've never tried it, or used bitmex, don't even really know how to read what's going on in your screenshot.

how much did you start with initially? if you close that position right now your profit would be the "unrealised PNL" right? or 8.7btc?

>Look at the ROE (+116%), and that's just on that particular swing. If you would've invested your 3k, you could be at over $6,000.


I think this is pretty risk-naive. How many times can you plausibly go all-in with 25x leverage and survive. Even if you are right 80% of the time you're still gonna get wiped pretty damn fast

Read Bitmex's guide on margin/leveraging. It's an okay guide, but the best way is just to learn. You WILL LOSE MONEY, so start small just to learn.

I started small with 0.5 BTC in my margin account. I increased it as my confidence grew. I'm seeing the opportunity in the market now so I've got a decent margin balance for trading the BTC swings.

The total profit would be around 16.9 BTC as I realized profit earlier. Closing at that price with that position at the time would have netted 8.26 BTC to what was already realized.

I agree, that is risk-naive. However, the point of this thread was to advocate leveraging BTC to HEDGE alt positions in times of a BTC bull run. I would never margin like this otherwise. The market presents an opportunity and you can choose to take it or not.

You must stay fluid with what the market presents. A few months ago alts and ICOs were the way to make profit, now it's in BTC.

perfect advice for turning pink wojaks to blue wojaks

is blue wojak bad

Are you me OP?

I'm doing exactly the same and I'm making a killing too.

Best of luck in your adventures.

You too man. It's good to hear there are others doing well in this sea of wojacks.

What you said is true. Better than making money, it's an educational experiment. A few time I was close enough to getting liquidated but I held and took profits 10% at a time. No greed.

It's been paying off. Hope I don't lose it all in some suicidal move. Sometimes we have a flash crash (the one from 7400 to 6900) and i bet a lot get liquidated there. Fortunately I was sleeping then.

Yeah it's a great way to learn how indicators, fib levels and overall market psychology works. During a crazy euphoric top, set Limit Sells on Bitmex like $100 behind Spot Price.. They'll take profit for you in the event that your sells don't trigger manually due to lag. That happened to me on the runup to 7400.

How much capital do you recommend to start with OP?

As little as it takes for you to learn how to lose and earn. No more than 5% of your total account balance at first.

>huge fucking fees when closing a trade

Yeah, this is why bitmex is a third rate exchange

Cheers. Besides the guide you posted is there any other traditional knowledge to pick up, or just dive right in wth 5% and learn as you go?

make sure you don't by or sell at market on bitmex unless you like to pay .5% a trade

Yeah if the market went 1% wrong way wouldn't you be liquidated?

protip: don't use more than 10x leverage on bitmex, preferably less than 5x. high-leverages never last. i trade only on cross. it forces me to not trade a shit ton of contracts

For 25x leverage its around ~4%, if that makes sense. But your point stands

Can i become your pupil?
I have time and am eager to learn more about trading, i'm hooked on this cryptoshit, only downside is that i start to feel i stagnate and don't learn anymore.
Please senpai teach me!
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