Veeky Forums, what did I do here?

Veeky Forums, what did I do here?

I don't know if my 100x leverage order went through. Wanted to buy $600 worth of BTC.

What potential profit can I make?

Thanks.

your about to owe somebody $60,000

god bless you normie retard, get in at an ATH

Big if true

a ~1% move against your position wipes you out completely, you know that right?

BitMEX is great, but leverage is a bitch if you don't know what you're doing. Just this week I turned $400 into $10k and then lost it all in 15 seconds when Bitcoin flash crashed last night (was trading at 25x leverage)

Can someone explain leverage to me? I don't get it.

How do I know if my 100x order is confirmed?

This is what it shows

I don't understand the margin thing, sorta.

I know if my margin is higher, my liq price is safer/lower. I set the lowest margin I could.

IT went through! Close when you desire

please explain. is there a bid/ask spread on bitmex? how big?

well, let's say you buy 1btc worth for 100x leverage.
you now have bought contracts that are worth 100btc. if the price even goes down 1%, you will get margin called and that 1btc of yours is gone. if price goes up 1% you made 1btc profit.

I don't understand the question. There's an order book, just like any other exchange. For the XBTUSD perpet. swap, tick size is 0.5 USD, and normally the spread is just 1 tick

can someone hit me up on telegram?

go to the chainlink telegram and say something. ill msg you

thank you.

i'm just more used to forex. i am asking if they can just widen the spread to fuck you up and trigger your orders.

Ya you're in and you made a profit, I would take it

Entry price is the avg price you paid per contract

Mark price is the index price (50% GDAX - 50% Bitstamp)

If mark price hits your liq. price, you're wiped out

Hover over your PNL to see what your real PNL would be if you market sold at this instant (when you're not hovering, it shows your PNL relative to the mark price)

Don't use more than 10x leverage unless you know what you're doing

Good luck

Ok thanks mate.

So if I were to buy BTC worth 100€ and BTC value dropped 1%, I'd loose it all but if it were to rise 1% I'd get +100€.

What if it would rise more, like 12%? Would that be +1200€?

And what if it fell more? Would I owe them?

When I close my position, do I receive funds in Bitcoin or USD?

I'm confused about Bitmex in general. It seems like I would receive BTC, but I know my contracts = $1 each.

Thank you.

I just thought of a fun game
>be whale
>bored
>transfer over an assload of btc to bitmex
>sell and buy back huge amounts just to liquidate people
How hated would I be?

i'm glad that i'm smart enough to know i'm way too stupid to trade crypto on margin

It's all XBT settled. The contract is an inverse swap

I'd love you. It would look great on the REKT bot.

So I actually did 58000 contracts at $9500.

The picture I showed was only 600 (I spent $6 instead of $600).

Looks like I have a BTC faucet in my hands assuming this doesn't crash again.