BitMEX Thread

Discuss BitMEX and margin trading.

Is this the ultimate way to get rich???

Other urls found in this thread:

youtube.com/watch?v=RPJD_Q0jv7w
bitmex.com/register/SVU1C1
bloomberg.com/news/features/2018-02-01/bored-with-banking-this-former-citi-trader-went-full-crypto
twitter.com/NSFWRedditVideo

well definitely next year around january will be ready to go x100 short on BTC.

but so far im more down to margin that up..

I wish the testnet mirrored the real orderbook so I could actually use it

Same here, I'm using it to practice before going onto the real one. I think I'm getting the hang of it. What I don't get is the point in the 'Mark Price' being different to the last traded price on BitMEX. Seems pretty dumb to me

why would i use a mexican exchange

What margin do you usually go for? And how much of your funds do you put into a single trade? Should you go for less funds at a higher margin or more funds at a lower margin?

would use but the ban burgers and i dont want to get my coins ceased getting caught using a vpn

Why are Americans banned?

Something to do with margin trading. You used to be able to margin trade on gdax until recently.

mark price is based on the bitcoin price on gdax and bitstamp

Yeah, but what's the point in that? Why not just use BitMEX's price?

so someone can't manuipulate the price and liquidate everybody. At least not as easily

I see that you can change the leverage whilst the contract is live, you don't have to stick with the one you chose when you made the contract. So then is it not a good idea to start on a lowish leverage then as you get further and further away from your liquidation price, edge the leverage higher and higher up to 100x?

That makes sense I suppose.

changing the margin just changes how much of your balance you put on line, it doesn't change how many contracts you bought

It's the fastest way to lose your money if you're just a normie starting out

>they are catching on to the january crash. prepare crab 17

I opened a long on bitmex at 8300 with 10x margin using 1 btc got liquidated literally at the bottom ~76xx and then it spikes almost 2000 usd Fuck this it better to buy the altcoin blood than margin trade

S E Y C H E L L E S

Is this you

youtube.com/watch?v=RPJD_Q0jv7w

dude that owns bitmex is pretty fucking alpha.
Anyways, if you're new to trading then stray away from leverage. You'll get rekt'd. But once you can trade you can make really good gains.

1st, bitmex is a derivatives platform, you are not trading actual bitcoin there. You should read about it and learn exactly what is going on before you risk real money.
2nd, imo don't ever go above 5x leverage. Start with 1x or less, and then you can double down safely if it goes against you. If you go this route you'll never get liquidated.
You can gamble with high leverage but it's literally gambling.

Any tutorials on trading with leverage?

I've been through babypips and used some of their methods - but I still feel like it's gambling, I use these trend lines and TA, it works sometimes but most of the time I get stopped out.

Why does your liquidation price change whilst your contract is live? Shouldn't it be locked in when you make the contract?

>Manipulated mark price
>Position info such as liq prices sold to whales
>"unexpected" outages at crucial times
>Based in bu fuck nowhere so you can't sue when the inevitable shutdown comes

Have fun, retards. This shit is pure gambling. Just go to a casino... you will lose everything.

Don't listen to the wannabes on Veeky Forums telling you thay they trade, they lose more than they make.

You're competing with traders with 20-30 years experience, literally thousands of bots, Bitmex manipulation, etc.

YOU WILL LOSE YOUR MONEY.

I WANT YOU TO REMEMBER THIS WHEN YOU SEE THAT LIQUIDATION NOTICE. I TOLD YOU FAGGOT. BET YOU WISH YOU DIDN'T DO IT NOW DON'T YOU?

are you changing your leverage?

I am, yeah. But I still don't understand why I can change it to and back and the liquidation price will now be different to what it was before I touched it.

If you on swap, its because of the funding fees.

I'm not exactly sure. I just tried and it was slightly different when I moved the it back, but then I tried it more and it stayed the same.

Prove your claims.

If I had the commitment and free time, I'd have already made a Bitmex'd Twitter akin to the Bitfinex'd one

hahahaha salty dumbfuck gets liquidated on high leverage, and can't handle the fact that he's literally retarded, and so he gets mad and is going to spend the rest of his life poor and on twitter talking endless shit with no evidence to back it up.
Sounds about right.

>buying cryptocurrency on a mexican exchange
>biztards are literally this stupid

>thinking an exchange called Bitcoin Merchantile Exchange aka BitMEX is Mexican
>calling other people retarded
kek It doesn't get any better than that.

Except BitMEX actually tips off whales so you get liquidated faster. It's obvious.

Bitmex doesn't need to tip anyone off. It's all right there in the ledger. The whales are just WAITING for you try and open a 100X position.

Doubtful. Regardless, market manipulation does occur but tough shit. If you want to make big money then prepare to risk it. Look up 'lure and squeeze' tactic used in markets.

Sounds kinda familiar, like I don't know... Bitfiniex'd maybe?

OK 1st of all, my liq is $6550, come at me bro.
2nd Who gives a fuck if they sell that info?????
Do you know how it works? They have to move GDAX and Bitstamp to your liq to get you, not bitmex price.

check'd and he actually said that specifically, so yeah.

It stands for Mercantile EXchange and it's based in the Seychelles. Mexicans are too dumb and feckless to make something as great as bitmex.

you got successfully baited
welcome newfag
Meal of the month is chainlink and FUN enjoy your stay

7263915 (you)

doesn't seem that way?

If any of you anons are going to use BitMEX, use my referral when you sign up. It's gives you a 10% discount on fees which doesn't sound like much but in two months I've racked up $1900 in fees alone and I'm a complete poorfag. Then I get 10% of your fees from BitMEX. I wish I would've know about it before I signed up because that's $200 I've lost. Anyways here's the referral link. Oh and you have to completely register your account within a week to get the discount.
bitmex.com/register/SVU1C1

hes right and i know it too im just posting this in every bitmex thread i see to find the newfags

I lost $50k in mex the last 2-3 months, dont get started on that path kid, that shit is rigged.

Worst time was wheb I got liquidated because gdax went into maintenance so bitmex took them out of the equation and only used bitstamp for the index and rekt me. Fucking pissed me off so much.

Guys please explain what i did wrong. Yesterday i bought 118 contracts 0,0142 BTC at 8700 USD with x4 leverege and i set sell 118 at 8800 USD with x5 leverage i think (liquidation price: about 7500 USD). Today - i see i sold it with success but i got some pennies from whole deal: Realized PNL 0,0001 in balances amount states: 0,00019844. So why so small profil if i got with big risk x5, high liquidation price? How should i move my 300$ to get any money from this?

well, theres the fee's you have to pay and theres a calculator (top left) you can use to calculate profits.

You had 118 contracts.
The profit will be exactly the same no matter what your leverage is.
The leverage only changes how much margin you put on the position.
If you want to do 5x 118, then you need to use 590 contracts.

Well your contracts gained like 1% but you probably paid .5% in fees so yeah you got peanuts. 5X leverage isn't going to make you anything unless you have serious money on there.

I've been trading bitmex for over a year now daily, often entering or exiting more than 4 positions a day, low leverage and low initial fund exposure are key to my strategy and is the reason I haven't been margin called since implementing/focusing a lot of risk management. My performance last year was modest by crypto standards but I was happy with it - +72% BTC (+2891.77% in fiat) over the year with the highest fiat drawdown of 34%

A lot of people get rekt when they start on bitmex but its just a learning process, I myself lost 2 BTC when I first started and yolo went to 50x (max at the time) which was about $1400 at the time, I figured I'd just work extra hard for a few weeks and rebuy it but I never did, heh. I'd recommend only trading with a small portion of your BTC something like 10 or 20%, you should avoid cross leverage to begin with as its deceiving and a liquidation would result in an account wipe out stick with isometric leverage no higher than 3x (33% BTC move away from your entry would equal liquidation) and with only a portion of the funds in your account so you can safely hedge, delever or average up your position.

So if you hold 1BTC right now you should:
have no more than 0.2BTC in bitmex
be opening positions with no higher leverage than 3x and no greater in margin commitment than 0.04BTC
do this until you are comfortable, so you're position would have the capital potential of 1100 USD at current prices and you should aim for higher than +5% profit on those positions but lower is fine - the point of it is to reach profitable consistency which is the only reason why you should up-size your capital commitment.

You can also use bitmex to hedge your overall holdings yet you commit only a portion of the capital to do so something like 5x incorporating good use of stops. the other use is degen gambling which its also great for but you are only supposed to do that with small portions of profits.

You could've put that in any shit coin and made at least 4 times that. But honestly congrats on not losing money on bitmex.

what the hell do you expect with 118 contracts?
you only made like 1% on the contracts. of course you will only get pennies.

if those would have been 10000 contracts you would have made about $100.

Did someone sign up with my ref? I just got another affiliate.

I'll never understand people like you who talk out of their asses.
Bitmex fees are literally fucking negative if you use limit orders. That means you get fucking paid lol.

long 10000 and then short 10000?
or long 118 and then short 10000? like said?

Maker fee is what you pay when you make a limit order. Then that is multiplied by your leverage. Then you have an additional fee on close. Have you ever looked at your trade history?

Whats with all the bitmex shills encouraging retards to literally gamble away their crypto? Margin trading is not for everybody, and making it available to everybody is simply abusive and exploitative.

Taker fee* my bad

>You could've put that in any shit coin and made at least 4 times that.
I did but never more than 1% of my overall holdings go to speculative plays of that nature, I made my own top 20 index and allocated 25% of my holdings to it and kept it rebalanced/correctly weighted ect to maintain exposure to alts and it actually out performed my trading (the average daily % gain that is) but its only been going about 5 months. I am too lazy to research all the time so yeah of course I am going to miss picking up a smallcap gems and riding their rise all the way to the top 20, even if that did happen there's no chance I wouldn't offload until my initial is cleared during its rise anyway.

what do you mean? do you want a trading advice?
if you only have $300 and want to buy 10000 contracts you would need a lev of at least x33.
I would advice against this.
especially right now where bitcoin could go anywhere.

I would never tell someone to do it but if they're going to do it, they might as well use my ref code. It's very hard to be successful when you have bots scanning trade data and figuring out how to REKT the most people possible. If you have a few million dollars you could honestly never lose with bitmex because all you have to do is manipulate Gdax like crazy

>margin long in an extended bear market
kek

Who gives a fuck? Any one with a brain. There's no rules against trading on bitmex and the index markets. That's pretty fucked m8. If you did this on Wall Street you'd be in Federal prison

very ouch

I lost 1 btc at bitmex too recently, after grinding it for 3 months playing safe.

One day I felt trigger happy and lost everything.

Copypasta
We can tell you're talking about your own experience, how did you get liquidated?

It's also the ultimate way to become poor.

It's not copypasta.
I left with more than I started with. You'll find out.

t. Traded first day they opened

Yet you can't prove any of that, not even the "profits" you've made there

The fees are based on the notional value of the entire position, regardless of your leverage.
You get a maker fee if your order is in the order book and someone takes it.
That is on opening or closing.
You can use bitmex and never pay fees other than possibly paying the funding fee if you're on swap, which even that you might get paid.

Its from $8009. fight me.

Bitmex is not an exchange in the first place. It uses undisclosed exchanges as part of its pricing algorithm

You can't prove the earth is round either

fuck off bitmex shills
the other day it CONVENIENTLY HAPPENED TO go into maintenence with no warning and liquidated millions of dollars of margintraders assets because they couldn't do anything.

Wow why am I even talking to you?
The absolute state of biz

Pic?

You in pic

back to your containment board, mongoloid

>be millionaire
go long 100x on bitmex
buy 1m of bitcoin on gdax
profit

Yeah I saw that. Complete bullshit

Go home Samuel

Did they have stop losses tho?

this

This is the CEO of Bitmex btw, is this who you trust with your money?

Faggot

bloomberg.com/news/features/2018-02-01/bored-with-banking-this-former-citi-trader-went-full-crypto

You tell me

Literally didn't even touch the topic of market manipulation on his exchange.

I have no clue. It went up so fast they probably didn't trigger in time if they were shorting

Every exchanges is doing market manipulation, what's your point?
Even Bloomberg did market manipulation the other day FUDing on tether

Backtrading is easy.

can i use it as an American secretly?

He may be black but he's definitely not a nigger. Go listen to an interview with him, he's 100% certainly smarter than you.

>crashes every time the market tops or bottoms
>cant close your position until it has already moved 20%
>institutional money is literally farming you, fake breakouts, fake supports, fake resistances
>random news can pump price 30% in an hour either way

good luck, have fun getting liquidated

Reminds me of poloniex

ive been trading on bitmex for six months and my net profit is 3.3 btc.

all these people complaining about liquidations, outages and manipulation are retards who used too much leverage and got liquidated.

i always trade cross, usually with less than 1x leverage. anything above 5x leverage is madness except in very special situations. even 2x is usually too much. also make sure to fully understand the instruments before trading there. read their docs

He dont look hispanic

exactly this.
very rarely do I go over 1x, only in times like the crash I was 2.2x by the time the actual bottom was in and it took off.

how much are you getting paid for your posts?

is everyone a fucking conspiracy theorist these days