/biz/ - Business & Finance

Does anyone do trading on BitMex?

What's your experience?

Just registered for this using my real name and my real e-mail address. How badly did I fuck up? Yes I'm a burger.

Can someone explain risk limits on Bitmex for me?

I understand that for anything less than the 200 BTC ($2,200,00 USD at 11,000) risk limit, you can do the calculations in your head easily
100x lev = 1%
50x lev = 2%
10x lev = 10%
and so on...in order to understand when you'd get liquidated.

What happens when you go above 200 BTC? The explanation is here but I didn't really understand it.

https://www.bitmex.com/app/riskLimits

Bitmex literally calls you guys degenerate gamblers.
Why do you still use their service?

https://youtu.be/xdiRhmLuYCM?t=386

about to place my first short order on BitMex. Thinking 10 or 25x, probably just a few hundred bucks.

dubs sets my limit price.

Why is shorting so weird?
> BTC price goes down 90%, you make less than when it goes down 30%???

Note, you do get 10% off fees if you sign up through a referral link. You can use https://www.bitmex.com/register/PCyTj9 Even if you don't use mine, use someone's because it's 10% off fees, which adds up.

I kept seeing the Bitmex wrecked twitter thing and seeing mentions of leverage all over 4chan, but had absolutely no idea what it all meant. It also looked too complicated for me so I've always ignored it. Got bored today and it's actually much simpler than it seems. There's a ton of guides that go super in-depth and those made absolutely no sense to me, so I'm going to explain it from an idiot's perspective.

First of all, the draw of Bitmex is you can do what's called Leveraged trading. In the simplest terms possible, it means you multiply your percentage gains/losses. If you go 10x leverage long on bitcoin and bitcoin gains 1%, you gain 10% more money. This is super cool for impatient people like me because it allows you to trade more actively without getting wrecked by fees, and it's ridiculously exciting.

Bitmex doesn't allow US users, but supposedly, all you need to do is register under a VPN and you're good to go. I used ExpressVPN. It is a paid VPN, but they have a 30 day money back guarantee. You can register on Bitmex with it, then cancel. Or keep it because it's actually a super nice program.

Once you're registered, deposit some BTC into your Bitmex wallet. When you first open the trade screen it's going to look super complicated. It's not.

Buying Long on a coin means you expect it to go up. Buying short on a coin means you expect it to go down. Playing those buys works like any other Exchange (i.e. Binance). You can set a limit price to buy in at and an amount. to buy.

you can short shitcoins like XRP, ADA, ETC, NEO. with leverage. it's basically free money.

if you found this useful you can use my pajeetlink for extra gains: https://www.bitmex.com/register/DiBMpz

Explain to me how shorting on bitmex works please.
>short with 1 BTC at 10.000$ no leverage
>BTC reaches 5.000$
>now have 1.5 BTC
>worth 7500$
????????????

What to short on bitmex right now ? i have $12

Holy shit how good is this platform.

I am scared that it's TOO GOOD and they run off with my money.

Let's all laugh at burgerfags who can't use it though and will remain poor.

>Bitmex
>x25 Leverage
>get 50% gains from .02 BTC
>Get out of position
>Get 0.0001 btc

Explain this shit to me.
I should have 0.01 BTC
Not 0.0001.

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