Shorted BTC @ 10,200 x 100 leverage x 10 btc

Shorted BTC @ 10,200 x 100 leverage x 10 btc

Its now or never

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You made it, bro.

Congrats you've legitimately made it. Seriously

youve got some big ass balls if not LARP

>He shorted, pump it.

Can someone explain to me how the fuck leveraging works?

If the price has fallen to 10,000

How much money has he made?

How long does he have to wait before the leverage thingy is over and the cash has winnings have been received?

Thank you for explaining

Right now the whales might want people to short to liquidate them into buying their own higher shorts, it's gambling


BTC forming descending triangle as we speak, seriously grats on this OP.

I'll be shorting on break.

He made 200$ (10.2k-10k) * 100 (leverage) * 10 (how much btc he bet)

>he figured out our strategy, flip it.

I'm almost finding it too easy...

Another noob here -- can he liquidate at any time?

Yes he can
Or he gets rekt if it goes up 1% from the price he went in at, because he goes to 0.

Its the most degenerate gambling, but sometimes it works out

He borrowed 1000 btc (100 x 10) from the exchange to sell but if the price goes to high for him to repay the exchange they will sell everything for him and take all his money. (Liquidated)

OP is up $150 on each btc atm so close to $150k.

But if it goes 1% above his sell point then he will get fked.

>He made 2 000 000$ (10.2k-10k) * 100 (leverage) * 100 000 (worth of how much btc he bet)

wait surely he made 2000 dollars?

If he had bet 1 bitcoin on a short and it goes down 200$ surely

so he can only lose his initial 10 btc right?

he could have lost all his btc easily
don't do this

Some good profits there OP, congrats.


wait ok last question - and thank you for your help

I just need to know ,

at what point does he lose his 10btc?

Can he pull out if he loses 1 btc?

>he can only lose all of his money, right?

He loses his investment if it drops 1% from his short price.

100x1% = 100% loss
He can close his position at any time, loss or gain. If he hits a 100% loss, his position is closed automatically (liquidated) and he would lose all 10 btc

with 10x leverage yes. He did 100 so 20k$ per btw if it moves 200$

retard here, you can pull out your short whenever???

*rises, not drops, since he's shorting

so if the price had risen to 10,325 from 10,200 he would have lost all his btc?

best place to margin trade?

He's a contribution to a problem

>shorting Chinese new year

Well OP, open up your boy hole because it is about to get raped by chinks when BTC hits 13,888 by the end of today.

So if he shorts at $10,200 and the pricrs rises to $10,302 (1% increase), he would be liquidated and lose everything. If it dropped to $10,098, (1% decrease) he would have a gain of 100% (doubles his initial investment). At a 2% price decrease, $9,996, he would have a gain of 200%, and so on.


he probably already liquidated?

Which exchange is best for margin trading?

Also, exchanges that offer leverage typically use an index price of sorts to make manipulation not difficult. For example, if a whale took a long position, and the liquidation price was based on only 1 exchange, someone on that exchange could throw up a massive ask wall and pop the price down very quickly, and he would be liquidated.

Instead, exchanges offering leverage (such as bitmex) will use an index price that's an aggregate of the price from several exchanges, plus some time weighted variables to prevent instantaneous price jumps. So the last traded price may not be the same as the price they are using to gauge liquidation conditions (but it's typically very close)

>inb4 muh ref
You get discount on fees and so do i
its winwin my bros

*to make manipulation more difficult

Sorry, on my phone and also tired.

chill out. I like to see Veeky Forums lose money but OP pulled off the short pretty well. If I wanted to see him to fail I would tell him to cover.

so many larpers and clueless idiots in this thread. You can't even 100x margin 10 btc. Lookup the risk limits on bitmex

wish you the best of luck bud, thinking it goes to 9420 before mooning

think hes confused with forex trading?