Just went short on 50x leverage. What do you think about that?

Just went short on 50x leverage. What do you think about that?

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bitmex.com/register/5pOALz
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When do you get liquidated

Everyone's a crazy daredevil on Veeky Forums.

You liquidated already, OP?

where do i short? can someone give me a quick rundown? bitmex? did you say ur in another country?

I did it at 11225 and am still holding. You're too late user. You'll get liquidated. We're going back towards mid high nines, maybe just over 10K. Then down again. Short there.

This is my referral on bitmex
bitmex.com/register/5pOALz
If you sign up with it you get a 10% discount on fees for 6 months. You can only send and withdraw BTC from there. Short when you think it's going down, long when you think it's going up. If you want to use leverage, you can increase your amount of effective betting money, but you run into the risk of getting liquidated, so try to make sure your liquidation point is behind strong resistances/supports. Before placing your position, you can hover over the ? to check liquidation point and certainly go easy at first, you may want to start on the testnet.

testnet.bitmex.com/

Also 1 XBT = 1dollar, so think about to know how many contracts you want to fill. If you're murrican, use a VPN.

I don't know, anything else you want, something explained in more detail?

...

i know this is a lot to ask, but would you be interested in speaking about this in further detail?
I would certainly compensate you for your time.
I would really like an hour crash course in this if you would be willing. Perhaps on google hangout where you could see my screen?

let me know, my email is lvwcc2012 @ the big fucking email domain
thanks dude, i hope to hear from you

Not saying you're wrong, but that's a retarded move since we aren't showing any signs of breaking through the 9-9.3k resistance yet. This could last hours and see bounces back up high enough that you'll be liquidated.

Buy high sell low faggot.

noob here, i just opened a long 25x on the testnet at 9450 i think its going to go to 9600 or possibly higher then crash.

>shorting the absoute bottom of this downtrend

current state of biz

I think you have shit timing

Sir friend, do not consider me an expert that deserves to be paid. In a week on the testnet you can figure out most by yourself, anything you lose there is fake money (and gains are also fake of course). If you have trouble figuring out something there I'll hang around this thread for a while, but I kind of don't want the responsibility of coaching or anything like that.

Something else I forgot to say, you can have positions on other stuff, like ETH, XMR... it feels slow but maybe at some point there's something that looks safer.

Somebody please explain to a complete newfag shorting/leverage plz. The opinions are either:

>Will make you rich as fuck very fast
>You can and will liekly lose everything

you will lose everything

>whales see your short/long
>whale sets up the opposite
>whale either dumps or pumps BTC to liquidate you

trading margin is stupid as fuck. GL getting rekt

Usually the latter or first #1, then #2.
Probably 80% of people who play on the derivatives market in traditional finsec gets justed. Considering crypto is even more manipulated and sudden price movements can come that don't really have any logic to them, I expect even more people to get justed there.

Also, the house always takes its cut, and remember, the house is sometimes not even complacent with that. It can cheat. Bitfinex probably cheated itself to being on the gaining end of liquidating many shorts by pumping it with fake tether they credited to themselves on their own exchange and "real tether" they made to send to other exchanges to pump it there to prevent quick arbitrage from counteracting their play.

It's tempting to play with derivatives. I am tempted myself, but I don't. I might do so when the market matures but never with more than 10x leverage and only when it comes to assets that have real value backing them up in the form of a functional market platform that uses their token or whatever. Not some pump and dump psychological-value-only garbage like bitcoin.

Appreciate the input goys. Gonna stay away from that shit

On Bittmex is it possible to set a stop loss point as well as a higher sell point? You can only have one of the two things active at a time on binance for some reason.

Those are both true if you use a lot of leverage.

You put a 1 BTC short position with 1x leverage at some price and the price moves down 1% past your entry, then close your position. You now have 1.01 BTC. Same thing but now your leverage is 100x. You now have 2 BTC. Your effective starting position in the second case is 100 BTC, one yours and 99 BTC on loan, the downside is that if it had moved 1% in the opposite direction you get liquidated and lose your BTC. And if it instead of 1% down, it halves you can get 100 BTCs from just betting one. Cross leverage makes your whole account the prize for liquidation. I'm ignoring maintenance fees for keeping positions open. We could also talk about stop losses to minimize risk, but minimizing risk is for the gays.

I was about to point out the same thing. At the very fucking least don't mention it on Veeky Forums. If I was a whale I would get a kick out of the wojack or two that would spawn from pumping in either direction

This market is heavily manipulated. Coming on here and talking about is basically asking to lose everything.

Yes, hover over them, and then the ? and you'll see what they do exactly.

...

BTC pumping

OP getting REKT

RIP in pieces

>BTC consolidating, meaning sideways movement and that market can go either way
>shorts

You deserve to lose everything