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>> No.7660994 [View]
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7660994

Now here are my advices if you want to stay safe, and if you don't want to use Tether

0. x100 leverage is pure gamble I can not stress this enought, use lower leverage

1. Read the docs and make sure you understand exactly how the contracts work (both futures and swap), profit/loss calculation and how liquidation works. Make sure you understand the difference between mark price and index price.

2. x1 shorts are way to cash out without using the Tether time bomb or Fiat:
Say you have 1 BTC which is worth 10 000$ at a given time in bear market and you think it's doing to dip further you short sell 10 000$ worth of contracts which will cost 1 BTC
A few months latter BTC @ 5 000$ and is bullish again, you decide to go long again so you buy back/close your short position you still have 10 000$ worth of contracts so you have now 2 BTC.
You can even get paid funding rates for holding your position + makers fee for going short
https://www.bitmex.com/app/perpetualContractsGuide#funding
If you're "cashing out" long term and you don't want to pay funding fees use futures contracts (XBTH18, XBTM18) not the swap contract (XBTUSD)

3. The interface may seem a bit complex to some, don't let that discourage you, it has very advanced order types and you can practive with testnet BTC (get some from a faucet) on bitmex's testnet.
Make some trades on the testnet to confirm your understanding of the contracts and the site in general.

4. I prefer trading on Cross. It's very important to not trade too many contracts, I trade 1 contract at a time. I strongly recommend not to trade so many contracts that your are more than 2x leveraged. Ideally less than 1x, at least in the beginning.

5. Don't forget to set a stop loss, plan your trades and trade your plans.

Trading with above x5 leverage is a lot harder than most people think. By far most traders on there lose money because they use too much leverage, those that trade with x100 leverage lose all their money, so don't use that.



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