I just shorted 0.1 BTC x25 leverage, witness me getting rich boyos

i'll keep that in mind thanks, right now I'm using 30% of the stack I have allocated to leverage trading. If my position goes well I'll be in profit but the other 70% is effectively losing me money though...

If by effectively losing money, you mean, it isn't making money like the part that you put in, than you are thinking about your trading strategy wrong, and might want to look at that. If it is instead on the other side, and you are actually losing money on that portion, then your short is being used as a hedge against downward moves as a good conservative strategy would require. in that case the goal is not to make profit overall, but to limit losses without decreasing your position size for the longer term play and instead add a small position to account for a short term movement

Well its really sitting doing nothing whilst the market declines, so thats losing money. But I suppose you make a point. Though I'm in it to win it (profit) not hedge my losses cause else I'd just sell my coins on Kraken and be done with it, buy back on a more definitive direction.

You guys think we will break 9k? what is the next stop from 9k? 8.7k?

here we go, lets see what happens on the dip.
and you have to think about what wining means to you.
if it's making money in the short term, then yeah, I see what your saying, but if you want to make some money and set things up to profit from some good investments over then next couple of years, then you have to take a look at the long game and not play too aggressively

first look for a close below the 200 day ma on the 12 hour, (400 ma on 12 hr chart)
confirmation comes from a close on the daily below the 200, but the initial panic might not wait for the daily close

same thing with eth, but on the 150 and 300

Congrats on this, seriously.

I'm tempted to take profits now and close half of my position. What do you guys think?

how do you close half the position?

not half,
max 1/3rd
potential for panic is too big

you execute an order on the other side of the trade for half the size of your position

k thanks

I've never done it before but I believe you just have to buy half the contracts amount. Anyway I closed my entire position at 9k, I've made a 2x and will look for another short with the profits I made if we continue to go down for at least an hour.

alright yeah makes sense, well I'm waitint it out a little longer. 9200 is breached and I think 9k is just a matter of patience.

I think too, I just want to play it safe. If 9k is breached I'll definitely re-open a position.

I'm re-entering right now.

be careful using those levels so close to the 200 day MA,
watch for a close on at least the 12 hr below this MA as a trading signal

i'd wait, 9120

I don't have pro account on tradingview, so can't use 12h candles, only on Bitmex

meant 9020 or a bit higher

Yeah you're right, I'll wait it out a bit.

Do you think it's a good time to short?

x50 3 btc shorted at 9340$ here

not right this second,
like I said, wait for close below 200 day ma on 12 hr chart, you could take a small position there, but use a stop loss, if we enter a panic, volume starts spiking, or we close on the daily below the 200 day ma, that is a good sign of trend continuation, and a short would be a good idea, but make sure you have a target and take profit

>inb4 Bitmex goes "down" just as you put in a short and the coin spikes up for a moment

I want to go with 25x leverage and exit after I have made 100% of my investment, so after a 4% drop. Assuming I entered after the daily close below the 200 MA, around 8900, that would be somewhere in the 8500's.
Stoploss would have been around 9000
But I'm scared to death because I have already lost a lot. I didn't use a stoploss and my entry points weren't too good. I kept adding margin but got liquidated anyway.

BTW when does the 12h candle close? I can't see in on cryptowatch, only shows the day

got fucked over one that once.
>Profitable short
>want to close
>Market close it
>BitMex goes crazy and delays
>Closes my position with a loss
>feels.jpg

Is this the thread where we donate money to Arthur Hayes retirement fund?

if id see here alone between those cows id rape her. who would do the same?

Liquidations get paid out to winning trades, BitMex profits on fees

on individual charts
shortcuts/hotkeys for the timeframe are the up and down arrow keys,
using mouse, its a drop-down menu in the upper left corner to the right of the exchange/pair label

if you are scared, you can minimize risk by taking smaller positions, taking profit sooner, using less margin or a combination of those.

the big MA's like the 50, 100 and 200 day's are strong signals on the bigger charts like 12hr 1day etc.
the situation we are betting our short positions on right now is that a break in these big levels will initiate a dip and due to how many people are using these signals, a dip starts, and then due to the uncertainty in the market (which is big, there are a lot of people on both sides and a lot of uncertainty) this initial dip will start a cascade of people getting liquidated or rushing to either sell to avoid losses or jump into short positions, this feeds on itself for a while create a panic, and panics always spike and then bounce HARD
if you can see read the signals of a panic, specifically the precursors/start and the end, you can make big money on very safe trades, safe meaning they have a high likelihood of moving in your favor

take a look at what's been happening recently.
the fud hasn't stopped, we saw a big rejection of the major 12k resistance level, a big double top, a nice dip as news broke, what looked like a recovery, and holding on a big support level, but the "recovery" is quickly showing signs of weakness and reversal, and saw at least short term rejection of the big 9400/9500 support/resistance level, everyone is watching this and while we may have missed the first large portion of the movement as smart investors were taking profit from the last two large moves, we now can profit off the panic as the herd follows suit, as well as make profit when we see signs of reversal as panic can only last for so long, and always bounces

no because i am not an inmoral (sand-)nigger

Reminder that you can still get $9k (!!!) for each of your buttcoins. Sell now or hang yourself on Christmas eve

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also, when thinking about position size and profit taking, there are important things to note,

right now I think we are at a point of potential panic. i know it's a total meme, but this is where the big moves are made, it's an important period of time for the trends.
on confidence and position size, the last time we encountered this 200 day MA, we bounced off, then broke below, and AFTER BREAK DOWN saw an over 20% move down, so 4% is small in times of panic.
for taking profit, find a range at which no matter what you cut and run. and if you feel the need to take profit any time before, decrease your position size by between 1/3rd and 1/2 of it's current size. that way you lock in gains, and lower your risk exposure as risk gets higher as the movement extends. this way you can also avoid fomoing back in as you still have some skin in the game, but make sure to get out completely at some point and be satisfied with your trade. personally 25x margin is kinda high if you ask me
but back to the charts,
if you look at previous time where we bounced off of a big ma, then broke below it ina big dip, then bounced back above but only a little and then made another appraoch/touch of the average as we have done with the 200 day, it is usually a bearish sign.
similar to the 100 day ma, we touched below, but closed above, rode along it for a while, and then broke right through.
as time goes on the timeframes get bigger, but with the 200, we touched, broke once and bounced right back above, but faced massive resistance and have touched again, to me that a pretty good signal

Fucking niggers

Bitcoin is showing signs of accumulation at the 9k level. Bullish channel is still very likely to hold.

Sorry OP.

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>5 min chart

>kek
>
>
>

Yeah 25x is high but it'd allow me to get out faster, and I can add more margin to lower the leverage. I want to get in with 0.2 BTC and have another 0.1 for adding margin.
Do you think my stop loss would be sound? At 1%, with 25x leverage that would mean 25% loss. Sucks but still bearable as opposed to losing it all.

Also those times where the situation with the MA mimicked the current one, where do you see them on the chart? I see a similar situation with the 100 day MA between 16th and 29th of January, just before the big crash to 6k.

Also about the 12h timeframe, I know how to set it, I'm just asking if there's a way to check when precisely the candles close.

I see the pattern on the 50 day and 100 day, they aren't exat copies but it's similar enough for me,
I also see a similar pattern with the 50 day from back in jun-july 2017
I also checked the 3 day, and we are in the midst of the same pattern with the 50 MA on the 3 day (150 day ma, can't see it on the 1 day chart because the candles are different)
It also has to do with the market sentiment and how quickly things switch from "its the bounce to 50k time to fomo in!!!!" and "oh god it's the end of crypto!! the bubbles popped!"
this rapid fluctuation shows uncertainty and means there is a good argument with lots of buyers and sellers, meaning it's good to trade, combined with the overall lack of bullish confirmation we've seen recently, I'd bet on the bears right now.

the reason I would use less leverage is because a 1% stop loss is absurd,
the only way it won't get hit is if you get in right at the start of the panic, so you don't get hit with one of the reactionary bounces that occur on the way down. panics have big candles with extended wicks and high volatility, if you get in towards the bottom of a candle it isn't unusual to see a close 5% higher than the bottom of the wick.
the situation here is that we know it is highly likely for a panic to happen, which is a big downward spike. because of this we can ride it down for a long time, so it's best to adjust our margin to comfortable levels to take advantage.
the factors in the trade are: margin level, size, and movement size.
we know the movement size will be big, and the likely direction, so we have a big edge so it is best manipulate size and margin level to take advantage of our edge with movement. we want to set these two factors so that we can reap big rewards, but don't risk getting caught with a stop loss, or liquidated on a big swing during a high volatility period, so use lower margin to afford a higher stop, and ride the move for longer to add profit. you are talking about a 4% (only -360$)

so if we know the move will be big, why only aim for 4%? last time we had a big dip it was over 20%
and a 20% drop from 8900 would still only bring us to 7120, so not even setting a new low, use that to your advantage, and take profit as you go to stack the odds in your favor.
lower margin, and set a better stop, with higher liquidation to correspond to the type of market you are trading

as for the timeframe, at the bottom of the chart, where the time is marked, there is a countdown timer for the candles at the leading edge of the graph

I closed my position when we hit 9k, I made a 2x on my short and didn't open a new position. But using 5m candles is retarded.

70% here, entry was a bit lower but still pretty good. Made back the losses I took and took another 10% profit on top of that, I'm satisfied.

we haven't even started the panic yet though, I'd advise taken at least a small conservative position if we panic,

also, this is actually fun to watch, this whale on kraken is trying to force a close over the red 50 hour MA with a wall, but is failing miserably.
I think he's trying to get the price back up to the low 9s so he can layer in his shorts, but he's struggling, looks like he just gave up after 15 of his 100 btc buy wall were filled, and he stacked his layered sells into a nice wall now that he couldn't get his way

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Fine, 10x leverage with a 2.5% stop loss sounds better? My take profit target would be -10%, around $8000 if I started from $8900.

that looks much better,
watch for the support level at 8400 and 8000, be prepared to take a pause there, but don't do anything unless you see confirmation of a reversal at one of those points.
if you are feeling really good, you can always add to your position on the way dow after you've distanced yourself from your stop or liquidation point, but that looks like a MUCH better trade, just watch you sizing

which exchange do you use guys?

Kucoin.com

Confirmation of a reversal would be the holding support and green candles on high volume, right? Do you set stop loss orders or just watch the price constantly and exit manually at those levels?
Also from what I see both the 12h and the 1d candle close at 1 am CET time, in 4 hours.

i trade mostly on kraken, not the lowest fees, but they have great charts, offer decent leverage, and have been amazing since they upgraded their system.
also, they seem to have a fair number of whales that use their exchange, and a less liquid market at times because they are smaller, which means you get to watch the whale games as I'm doing now, or if you know how to play it, can catch big percentages when whales decided to market buy or sell and cause slippage of over 30%
i use binance for my shitcoins, but don't trade as actively as I should there because I don't like it and they lag too much during high volume

yes, the high volume green candle is key, you might see a decent size move off of a small buy volume, but that isn't reversal,

I don't set stop loss, I usually do it manually, which isn't the best, but oh well, also, I'm not on bitmex, my charts say they close in 3.5 hours,
big moves happening, be careful
also, that 8400 level might be a good place to take some profit depending on how you want to play it

if I were taking your trade I'd take 15x leverage, on a rebound from a the initial spike to my price, i think it's likely to overshoot 8900, then come back on a reaction move, i'd take it there but you have to be quick, might miss it, and then lower size by 1/3rd 8450, again at 8000, and then close trade at around 7500
my current targets for my 5x trade are to take 1/2 at 7500, and the rest at 6800

Well fuck lol, I broke even on my shorts. Should have just sold at 11k instead of looking for short opportunities. Wouldn't have to take the risk of shorting

Do you really think there will be panic if we close below 200 day MA? Currently trading quite low so it's very possible.
I'm afraid of an entire day of sideways trading and then a pump.

yes
it looks likely and even big players are moving large amounts quickly, I've seen 2 market sells of over 3k eth in under 20 hours,
and there have been some spikes in sell volume on btc,
yeah some was due to the gox fucker, but based on sentiment, so far we haven't entered panic, and panic comes with massive increases in volume compared to the run-up and the volume we've had on this run up is already almost on the level of the panic from the crash to 5800.
so yeah, 200 day is what everyone is watching, and there isn't anything major to act as support until we hit the 300 day MA at about 7k
we have some moderate support at 8k, but it doesn't look to robust

So how much did you make OP?

No, I'd be married to her you fucking degenerate nigger.

Nigger detected

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Who is this semen demon?

market sucks now. you think to short and it pumps. you long and it dumps...

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I've made 0.1 BTC on my first short (I doubled basically) and I've reentered a 0.1 short slightly lower than 8k9 with x25 leverage.

I could've made a lot more if I had kept my initial short open but I wasn't certain if there was gonna be a bounce or not and I was already happy with a x2.

motherfucking nigger

for your next short, if we close below the 200 day ma, hold it for a while, get greedy, but not to greedy and you'll see great returns

russian photographer, use the reverse image search

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where can i leverage BTC? I wanna get in on this

imgur.com/gallery/L28g3