Someone just dumped NEO to $3 on finex

Stop losses get triggered, causes a wave of selling but you can only sell so much at a price before there is no buy support at that price.

If your stop loss is at $20, but millions of other sells are going off at the same price, you sell to whatever the highest buy price is when your order goes through. In this case, maybe $3 was the highest buy order in that instant when your stop loss was chosen to actually fill. So it creates a domino effect that causes everyone to get fucked. Shorters also get liquidated.

holy SHIT, you're right. goddamn, I'm thinking about just setting small buy orders there on every pair, waaay under price, just in case.

no everything on finex got flash crashed. ETP, OMG
exchange fault?

>margin trading on shitfinex
you asked for it

Then the coin goes down because devs run away with the money (like that coin did a few days ago) and loses 95%, you'd be holding useless bags

>Shorters also get liquidated
wut ? shorters dicks become diamond

for every 30 minute candle shorter there's 1000 1 minute candle shorters who love to short giant red bars

> margin trading is sma-

rekt

WHAT LUCKY FUCK JUST GOT NEO AT $3 fck my life brah lol

im pretty sure bitfinex is not going to pull a gdax and give them back their money

GREATEST TRANSFER OF WEALTH IN OUR LIFETIMES

AHAHAHAHAHAHAHAHAH

they better fucking not. i want the margies to suffer.

They are literally selling all of their alts for USD to redeem tether to bide more time.

why would they? it isnt their fault right?

>im pretty sure bitfinex is not going to pull a gdax and give them back their money
give back? haha
i'm have a feeling it was actually them using their unlimited tethers to pull that stunt since they also can see all stop-losses and amounts behind them

Why doesn't everyone use stop loss limit? Retardation?

no it isnt if everything is as it's supposed to be. thats why i'm saying they wont, the guy on twitter seems to think they should though.

>-30000$
if he doesn't pay back will the bitcoin mafia kill him?

Ethfinex will launch soon. Looks like they got better things to do than pulling off an exit scam.

who said anything about an exit scam

I've never seen a greater JUSTing than this

It worked as it was supposed to on gdax as well though
As long as people who made their gain can keep them, I don't give a fuck if there is a refund

>buying shitcoins

ethfinex is their way out. they know they can't keep running a centralized exchange like this for too long.

yeah i know it was, idk why they paid those people back when they didnt need to at all, that's why im dubious bitfinex would

>trading on margin ever
>setting stop losses ever

a stop loss can work against you if there is no order at the price you want to fill. so you may have ended up selling at $4 because it was the closest order.

I would probably trust a forex exchange, but crypto exchange stops might not protect you from flash crashes.

margin traders and stop loss fags btfo

Hahaha, I love seeing shorters and margin traders getting wrecked
Someone please create a twitter pretending to be the buyer

JOOST

maybe then they can pay back in tether

you'd have to be a fucking moron to margin trade on bitfinex. Their order system is always fucked up and ends with negative balances

twitter.com/bitmexrekt?lang=en
you can have the next best thing

why the fuck does bitfinex even fucking allow negative balance??? bitfinex can't do shit if that guy doesn't pay. i guess they'll just print more tethers?

Yea, they seem low on intelligence and high on greed.

they'll send the bitcoin police

Margin trading on bitfinex is funded by other users, so either someone doesn't get the money they loaned back, or bitfinex pays the lender back and eats the loss, which can be worth it, to keep trust in the lending system.

They don't "allow" it stupid. They liquidate you when you have 30% balance left, but it is not triggered on the nanosecond, so if the crash is extremely fast (a flash crash) it will trigger below 30%.

A stop loss limit will limit the sale price once the stop is triggered, i.e. at 25 USD sell for 20. Thus protecting against flash crashes.

>Thus protecting against flash crashes.

what? no. it makes you vulnerable to flash crashes. it protects you against the coin dumping, but flash crashes bounce back.

Stop loss LIMIT, jesus christ work on your reading comprehension.

A stop loss: when price X is triggered, sell at market

A stop loss limit: when price X is triggered, make sell OFFER at price Y.

The limit prevents it from selling at the market price.

>but flash crashes bounce back.
Yes, and then you still sell at 20 instead of 3 retard. That's the protection

I reread what you wrote, ok so you can still lose your coins, but not at an outrageous price.

>jesus christ work on your reading comprehension.

yeah. didn't see the 'limit'. sorry.

So if someone had a buy order at like 5$ he would near instantly 6x his order?

yep. some people made bank. This is why when you look at the bottom of the order book for the buy side there's an absurd number of buy orders for pennies.

Did he get liquidated or some shit?
That's fucking hilarious.

You don't need stop losses if you are not retarded or lazy enough to not check charts 3 or 4 times a day.

Same thing with ETP. Was almost free!

it's incredible that u fucking retards applaud this and find it funny.

It's hilarious. Lighten up

...

what's wrong, didn't know when to fold 'em, partner?

t. Brian

cascading stop loss?

This is why you put limit buys at 10% of the price, if they get triggered before you notice a crash, it's either a flash crash and you'll be rich, or you deserve to lose money.

>implying it's not funny
What is wrong with you?

Yeah this is exactly why I don't margin trade or put stop loss orders for that matter. There's always a chance of a fucking cascade forcing you to liquidate at fucking 1% of the actual price or whatever.

That's true, desu i dint bother looking at the volume. I just assumed it was something like tether

it is funny and I wish you'd post your sob story so we can laugh even harder

at ten percent of your liquidation price?