Tfw turned 0.2 BTC into 6.1 in a week

>tfw turned 0.2 BTC into 6.1 in a week

Call me lucky or a gambler, but these gains are insane, usually trade on 25 leverage, and just sit on positions until they show profits.

sage and report bitmex ref shills

this shit is a bucketshop

lmao

i turned 50 buckaroos into 600 today
but i've also lost thousands in a night
i've updated my strategy a lot since then though
major luck factor involved though, you have to hope that a big whale doesn't completely fuck up the trends

I'm not looking to post my code or anything like that, just felt like sharing my success. Sorry if it bothered you.

I've been playing the with testnet
any tips for new players?

>i've won 500 bucks but lost 5k wooohoooo

Lmao take a look at your account page, guarantee you would have done better to just hold

This is my account page, how did I lose shit? I've gone positive every single day

>only posts part of it
Lmao ok bro sure

Remember this when you get liqd

its a learning experience. 95% of my portfolio is just to hold. If I can learn how to make good money with that other 5% its worth risking it.

You can't. You're competing with the following:

>Bots
>Experiences traders (talking 20+ years experience)
>Market manipulation (Bitmex is definitely dodgy hence no KYC, in bumfuck nowhere)
>Random spread like they just make it up as they go along
>Rumors of them selling your posotion size and liq price to bots, whales, etc, (and this would be PERFECTLY legal if they did, so they probably do)

Do you think it's a good idea? It's gambling. No legit good platform offers 100x fucking leverage, its unheard of. You are gambling just like playing roulette but with charts. Unironically.

It's still fun to do with a tiny amount, but don't ever get to thinking you can make a living from Bitmex unless you're a whale or mm.

This is what I've done. I long/short after a large green/red candle, on 20%-30% profits I usually sell. Sometimes I sell in minutes, other times I have to wait hours, however the price always comes down/up to put me in the green again, since the volatility is so high.

I've done this for over 50 trades and it has worked wonderfully for me.

what leverage and what posiiton size on average roughly

Take my current position as an example, I opened this around 6 hours ago, it was in the red (it went as high as 10450), but surely enough it came down (it always does), if I'm close to liquidation I just add margin.

Lol it works until it doesn't
Liq 500 away from current price? Ok lmao

damn bro impressive gain

how do u know when to sell

if ur lucky, that means I'll be unlucky if I try it. The biz curse

why u so mad at him bro

I'm not at all
If anything i'm just trying to help anons avoid losses which are inevitable when you margin trade

Do whatever you want just remember i said this

Reminder to everyone he is just lucky
For you DO NOT FUCKING TOUCH MARGIN
It is there people go to die.
Do it regular way. Yes it is slow but it is better than using margin unless you are loaded and have morre funds to increase your liquidation price.

25x is reasonable

i was a retard, i was trading 100x, i tripled my money but then lost it all

only $300 tho

Lmao you should have listened

I'm willing to beat a lot of people who lose are using too high leverage leading to liquidation or weak-hand sell their position at a loss.

tihs was a few months ago

i got killed on a long when bitcoin crashed

Just carry both a long and short with 25x leverage at the same time and there is no risk

Also, disclaimer, I'm not claiming to be an expert trader of some sort, I know basic TA but that's it. I just do the same thing every time, buy at a decent position, and hold my bags until they show profits. Do you guys think I've been on a massive lucky spree, and that I should pull out while ahead, or did I really crack the code to making it?

Yeah i'm sure you hold on 25x leverage lmao

Because if crypto wasn't risky enough, add some gambling margin trading on top of that for some extra risk/reward.

Pretty cool you turned .2 into 6 BTC.

I remember reading some story of a guy putting in his full stack of BTC on every margin trade, and turned 1 BTC into like 250 BTC or something crazy like that, and then got liquidated and got knocked down to 100 BTC and then he went full tilt and lost it all on margin trading.

Always take profit and manage your risk.

if you do it only play with 10% of your stack like OP, (says he holds 95%).

What timeframe you niggas trading on?

and no reward. why invest?

You won't learn until you lose money. Think like a market maker and then play on your level/timeframe. When you understand the whys and hows of movement on an intuitive level you will become extremely succesful. Manage risk (but don't be afraid to play risky in this market, just dont let your wallet empty completely). Overcome your internal bias, wishful thinking etc. play the game as it is in front of you. Don't give up, keep your mind open. The more you understand about the market, the more you will understand about yourself. Psychology is everything.

Yeah that guy was an ex poker player. Gambling degen at heart.

So true man. I've made countless mistakes lately and I've learned from every one. Eventually you start making less and your win rate goes up.

is it possible for americans to trade on bitmex?

Yeah, just use a VPN.

That story is why everyone here should employ proper stack management. Read up on it.

How do you eventually handle cashing out though for tax purposes. You can't just transfer your BTC to an exchange from the BitMex wallet and sell for USD, they're gonna wanna know where the fuck that stack came from, right? Hopefully mass adoption isn't a meme and 'cashing out' won't even be necessary one day.

After seeing the responses in this thread I've decided to take my leave and cash out. So many of you have been getting JUST'd and I don't think I'm a trading prodigy or extraordinary, could see myself falling into the same hole.

...

Going all in on low leverage (5x) rather than portions of my stack on high leverage (25x). Smart?

if true, that makes you the smartest man of Veeky Forums
i mean, turning 0.2 btc into 6.1 and cashing out... means for every guy like you there's 30 who lose their shirt. it's a simple zero sum game

Definitely the smarted guy here. The hardest thing to do emotionally when winning is cashing out while your ahead. If everyone was able to do this, they will all be winners.

Or, you could trade with sensible margin (x3-x5) ....and learn to use TA to open positions.

Is it true somebody from the USA can use Bitmex by using a proton email with "china" selected as origin?

In practice yes. But if they ever suspect you of using VPN from US, you'll be forced to provide documents to prove otherwise, or they'll disable trading, let you withdraw and close your account.

exactly what i was thinking too. no idea what to do about that desu. maybe some kind of monero cleansing deal

>let you withdraw
Well shit count me in. VPN is necessary too obviously?

They don't care if you use VPN.

So.. I don't need one? lmao

You need one. But if you ever forget to connect to VPN first you're in trouble

Cash out 5.5 btc and do as you please. Good stack to hodl/cash out/diversify
Keep playing around with the. 6 left and go again. If you go bust so be it got that 5.5 btc

Thanks user I'll be trying this soon