How much?

How much coke should I snort before leveraging 100x on BitMEX?

Okay more serious note, I just deposited some BTC into Bitmex (amounts I'm willing to lose) to try 5x or 10x leverage trade.

Really just for fun and to learn a bit about trading.

Here are a few questions:

What is, Mark Price?
How do I take profit if my leverage trade goes well? Just open another position but do the exact opposite?

Can someone just give me a quick rundown of all the definitions?

Other urls found in this thread:

bitmex.com/register/WfFyoc
bitmex.com/register/xGqMf5

What?

To take profit you just close the position, no?

Not sure, just watched a very confusing youtube video telling me to do the same but opposite to close the position.

So thats why I ask the genius hive mind Veeky Forums

*psssst*
Veeky Forums

in for the upcoming bitmex rekt wojack

I am new too but no one else will respond because we are too retarded to address. If you do the opposite you will have two position working in opposite directions of each other. Just press close on the position to take the profit. Just do a minor transaction first to see what happens. Some brokers have tutorials in their programs. Otherwise watch some other YouTube video.

>Doesn't know what mark price is
>Doesn't know how to take profit

Are you fucking retarded? You're going to lose your money for nothing

BitMEX is amazing. Try it here: bitmex.com/register/WfFyoc

Do not do 100x though (only if you're crazy) but 5x or 10x is pretty acceptable provided you set stop losses and don't trade with emotion.

1st of all dude stay below 5x and even below 3x imo or you will get rekt, 100% guaranteed.
2nd yes you close by buying or selling the same amount or any amount really
you can flip the position from long to short or reduce it or close, whatever you want to do.
also in the open positions tab you can close by clicking the red "market" button under "close position" which is guaranteed to work even when shits overloaded.

Do you know what mark price is? Learn what the hell mark price is. I can't tell you how many times starting out I got liquidated on high margin because I was a brainlet and had no fucking clue what mark price is. Also read about their fees. You can actually make money buying and selling at the exact same price if you use limit orders and it makes it into the order book. I paid over $1600 in fees just because I didn't know about this. If you make a limit order in the order book you actually are paid for making that order. Read their fees guide extensively. And while I'm not going to recommend using BitMEX, if you do choose to, sign up with my reference for 10% off fees. bitmex.com/register/xGqMf5

Additionally, use as many indicators as you possibly can and then only trade when ALL of them say the same thing. Even then you can never really be more than about 60-70% sure about which way the price will go. Also set stop losses, you will be absolutely fucked if you do not. When you get liquidated, they take it all. 100%. Anything else goes to their insurance fund to ensure that winners can get paid no matter what the market does. Like I said before I'm not recommending you sign up for BitMEX unless you are a literal trading genius or a whale who has enough money to influence the spot prices on GDAX and Bitstamp. Don't ever, EVER use for than 25X leverage unless you want to lose your money.

Wouldn't allow me to 100x, I'd get liquiditated immediatly. Also I already used a ref code from some user (maybe you).

No I don't, thats why I'm asking -_-''
Can you explain it or point me in a direction?

100x with that Little money is a very little margin, put a stop loss if It goes as planned, if It don't go as planned yu'll get liquidated Quick... You Can see the profits real time and market sell when you want.. The market is quite Crazy lately pay attention

Also try the testnet First so you could get used to it

Stop recommending testnet its nothing alike the real thing

Fuckign stupid

To learn how the platform works faggot

to close a short you buy the same amount of xbt (ie you go long), the position closes when the order fills and you're left with the profit (or a loss more likely)

-0.72% so far

It was 2 beers for me. Made 3k out of 250$. Then lost it all. Hurr durr

You realise we're going to 9k soon?

Also 200 contracts is nothing

No read the fucking post. I wouldn't do this shit with 10k and then ask questions like what is mark price? How do I close a position?

I answered you up there you fucking brainlet

Because you have quads I won't swear.

Yes I saw that, but that comment wasn't directed towards you, now please kindly leave the thread.

Can Americans use this platform?

Click the Red button market sell in the line of your position to the right, you Will sell at the price of the moment

Yeah, just sign up using a proxy then you can log in like normal after that

Use the testnet before you lose all your money dumbass