Support at 10300 tested successfully, expect new ATH in 2 days, I'm long 25x, entry 10290

nice
i'll probably open my position tomorrow to avoid some risk.
It all looks pretty laid out though.
Good luck

Everyone shorted from 11750. The real question is did you short from 11 last night?

Me too, I'm waiting for solid confirmation.

wait, so this guy went from 0.2btc to 6btc in 5 days?

yup

what the fuck, I earn that much money in 10+ years of work, how does this bitmex thing work?

100x long, in at 10320

All fucking in its do or die

I wish you luck, although I strongly recommend staying away from 100x. Even when correct you have a big chance of getting liquidated on a random bounce.

Win big lose big

Redpill me too guys!

Allows you to margin-trade crypto with up to 100x leverage. If you believe you can predict BTC's movement, give it a try. I don't want to shill my ref code like a pajeet, but without a ref code you literally will pay 10%+ more in fees.
bitmex.com/register/BGXfYQ

You go there to lose money in the end
Extremely risky, even big whales get rekt all the time

Use low leverage, stay disciplined with stop limits, and only enter trades with good RR. If you do all that you'll win more than you lose. All my losses are when I'm breaking 1 or 2 of the above.

so how can I make money on this crypto thing? bitcoin is not moving and everything else is dumping

You buy projects you believe in now, with the belief that by the end of the year it'll go on a moon mission. I wouldn't go all in on one coin as many here do, because if your coin is having a bad week you are rekt. Where as if you split it up, 1 of your coins will almost always have a good day. Just don't diversify too much

Protip, take a look at AMB. It is still prettty low market cap meaning it can grow a lot, and is a solid coin. I'd recommend having some of it

You mean ATH since 12k or what?

That’s what I do and I put in 500€ every week from my online business.
But it’s not as much profitable as I thought that’s why I would like to get into Margin trading

Margin-trading of any kind is always risky, but I believe the current trajectory of BTC's movement is pretty obvious, so I've decided to throw some money at it and I've made some good money, still, the risk of getting JUST'd is there as always, so enter at your own risk. Also, I plan on posting my positions on twitter.com/Zata_Zu if anyone's interested.

I don't get how this shit works. Why is the order quantity in USD?

Yes, bad wording on my part. I believe 12k will be broken in the next few days.

It is extremely risky but also rewarding. New traders should avoid it at all costs.But once you are an experienced trader, you can make decent money. Rules are simple; use low margin, only open positions after breakouts occur.And never forget, futures are zero sum game.

We're headed for a solid close above the descending trendline now.

Nigga we dun been above the trend line by a couple hundo dollars
At least on the coinbase / gdax chart?
Which are you lookin at

We still haven't closed above the 1d trendline, only (barely) broken it with wicks

Ummm sorry sweetie

I shorted 50x leverage get fucked op

Entry?

10400 and got liquidated

Why would you short after a triple bottom on confirmed support?

So you short, what price does it need to go to for you to 'win' or close out?

ALso can't you close your short early?

You can take profits even on a single cent in the green. You can also cut your losses on a single cent in the red.

It's safe to open long now, from @10600?
With tight stops ofc.
Missed yesterday triple bounce from support, unironically had a buy order below 10300, but cancelled it before going to the party.

What happened to that twitter link. Also are you really a chubby Asian girl I don’t believe you

lol I was trying to ride 1 min candles, i know its going up in the long term but was trying to catch like a 50 dollar drop, it was crossing on the stoch and had just pumped a little. It jumped again right after I entered.

I'm decent at the longer term analysis but ive never tried doing this really before and as trying to learn, but i never take it seriously unless I put at least a couple hundred bucks in.

I entered right at that circle. If that was dumb, how should I have known?

twitter.com/zata_zu/

also not sure if you understood but you are force closed, ie liquidated, when the price goes in the opposite direction you bid multiplied by your leverage. So if you are long and the price goes down 10% but you are using 10x leverage you are force liquidated and go to zero. Of course the opposite is true, if it goes up 10% you doubled your money.

You can go up to 100x leverage so a 1% increase/decrease is a double or nothing scenario

So is 100x leverage harder to close than say 3x? Is it like trying to sell 100BTC in an exchange compared to 3BTC?

Also say you go long with leverage, how much does it have to go up for you to actually profit. If there’s no barrier, why wouldn’t you just go 100x leverage then immediately close when BTC goes up 1%? How long can you hold a position until you are forcible liquidate, can you just hold indefinitely until BTC recovers (or dips again if you short)

High risk high reward, you leverage from x5 to x100.

If you short, you have a liquidation price, if it hits that price you lose all your money. If you go x100 that price is rather close to the current price. But the rewards are big if you're right

It's not that hard to close anything, the liquidity is insane, if the market is going in one direction, no wall is going to stop it on bitmex.

Thanks you basically answered my post for me, must have posted right after I loaded the thread.

But just to clarify, if you decide to close early, is their a barrier before profit (ie commission or tax you have to pass before you profit)? And how liquid is it? Can you close your entire position immediately or is it like trading exchanges where volume matters (still struggling to understand futures markets)

yes its exactly the same but because everyone is using leverage on bitmex the liquidity is very high and you can instant close essentially unless you are using very large numbers I guess.

You profit the second the price is 1 cent above your entry price, and you can do exactly what you said.

You cannot hold forever. By going long/short you are taking a loan and using your btc as collateral. So at 100x leverage you borrow 99 btc (on top of your one) for every btc you own. Thats why if your position drops 1%, you are force liquidated, because you need to return those 99 btcs you borrowed

Its very risky obviously, but if you time it right, like during a big dip, even with just a small amt of money you can make staggering amounts. Ex, if you opened a short during the last crash at 100x around 16k with 1 btc and closed around 7k, you would make 56 BTC. Now the odds of you timing it right are pretty rare, and you have to make sure it never goes above where you entered or you are liquidated, but still, its pretty insane that you would get 0.5 million from that.

oh yeah also there is a commission fee but its pretty low (i think 0.2% or something? could be wrong exactly but not that high)

Thanks for clarifying everything.

Lastly, is it only BTC/USD? Does Bitmex have the same thing for LTC or BTC/EURO?

Margintrading is currently available for: BTC, ADA, BCH, DASH, ETH, ETC, LTC, NEO, XMR, XRP, XLM, ZCASH.

didnt feel like typing them so here is the complete list.

Everything is relative to BTC, and bitmex only deals in btc, you dont send or withdraw any alts.

Any idea where USfags can do this margin trading?

why not use bitmex? you don't need id or anything

Just use a VPN. There's no KYC or ID verification.

Do you guys recommend sticking to BTC(XBT) or playing the alts?

Personally I only trade BTC, mainly because I don't track alts as closely.

to be honest I have done alts at all because the liquidity is a lot lower but it would probably be fine desu. I don't see why not if you know a pump or dip is gonna come (such as the neo airdrop dip last night was a prime example although I didn't act on it)

I recommend Bitmex mainly because of the liquidity. The volume exceeds every other exchange combined, it really is insane.

Everyone ITT will lose their first few deposites on bitmex russian roulette, except OP.
Always try bitmex testnet before playing with your own money, you have been warned!

What TA do you use? The ones most people on here mention are
RSI
MACD
Fib
Sometime Bollinger bands
Anything else? What time periods work best in your opinion?

Once again thank you very much for the informative replies.

Big if true

I'm def not a ta wizard or anything as you can see from my first post but I have made much much more trading than holding and I havent tried to get into leverage until just recently.

I find the most useful things are:
MACD, RSI, Stoch RSI, Double Bollinger Bands, Schaff Trend Cycle, and then just looking at general chart patterns (flags, double/triple bottoms/tops, triangles, cups, head and shoulders etc)

also it helps to go on trading view and read posts there. Most are just dumb pajeets but some are actually pretty good. MagicPoopCannon (i know) does some pretty good analysis and it can help you practice / reach similar conclusions

MACD, RSI, STOCH RSI, OBV (volume), but human psychology trumps every indicator. Like, a triple bottom is very bullish, and buying on the third bounce is a low-risk/high-reward trade.

Can confirm. Sent 0.025 btc to play with a couple hours ago and already down 50% lol. Fucking btc

Cheers

Have either of you ever tried margin trading with stock? I’m guessing their more hurdles and middle men involved with stock?

I have over 100k in crypto and have never owned a stock in my life kek sorry mate

I tried opening an account and they wanted all this employment info and there was no box for being an autstic neet so I said fuck it

What I don't understand is why Bitmex would let you borrow those 99 BTC in the first place? Are the odds of them turning a profit off bad traders in their favor?

bitmex doesn't just lend them to you, someone has to go short for you to go long and vice-versa, just like a normal exchange

Yeah I like the sound of robinhood since it seems like those barriers are removed but I’m not American.

For now I’m just sticking to crypto and metals, but looking to diversify my crypto takes from just trading alts, looking at mining and bitmex.

jesus christ the amount of handholding in this thread.just register,deposit a small amount and learn doing it

Lambs to the slaughter.

"Margin trading" is the meme name for gambling.

Waiting for an order to get filled on Bitmex. Going long on BTC. First time I've ever done this shit.

Don't use more than 25x leverage you tools.

Good luck user
As I said yesterday, I made 500% profits using 25x but I was always going against my gut feeling