/biz/ - Business & Finance

well definitely next year around january will be ready to go x100 short on BTC.

but so far im more down to margin that up..

>>7260723
I wish the testnet mirrored the real orderbook so I could actually use it

>>7260755
Same here, I'm using it to practice before going onto the real one. I think I'm getting the hang of it. What I don't get is the point in the 'Mark Price' being different to the last traded price on BitMEX. Seems pretty dumb to me

why would i use a mexican exchange

What margin do you usually go for? And how much of your funds do you put into a single trade? Should you go for less funds at a higher margin or more funds at a lower margin?

>>7260723
would use but the ban burgers and i dont want to get my coins ceased getting caught using a vpn

>>7261073
Why are Americans banned?

>>7261113
Something to do with margin trading. You used to be able to margin trade on gdax until recently.

>>7260873
mark price is based on the bitcoin price on gdax and bitstamp

>>7261207
Yeah, but what's the point in that? Why not just use BitMEX's price?

>>7261233
so someone can't manuipulate the price and liquidate everybody. At least not as easily

I see that you can change the leverage whilst the contract is live, you don't have to stick with the one you chose when you made the contract. So then is it not a good idea to start on a lowish leverage then as you get further and further away from your liquidation price, edge the leverage higher and higher up to 100x?

>>7261440
That makes sense I suppose.

>>7261481
changing the margin just changes how much of your balance you put on line, it doesn't change how many contracts you bought

It's the fastest way to lose your money if you're just a normie starting out

>>7260751
>they are catching on to the january crash. prepare crab 17

>>7260723
I opened a long on bitmex at 8300 with 10x margin using 1 btc got liquidated literally at the bottom ~76xx and then it spikes almost 2000 usd Fuck this it better to buy the altcoin blood than margin trade

>>7260723
S E Y C H E L L E S

>>7262188
Is this you

https://www.youtube.com/watch?v=RPJD_Q0jv7w

>>7262246
dude that owns bitmex is pretty fucking alpha.
Anyways, if you're new to trading then stray away from leverage. You'll get rekt'd. But once you can trade you can make really good gains.

>>7261481
1st, bitmex is a derivatives platform, you are not trading actual bitcoin there. You should read about it and learn exactly what is going on before you risk real money.
2nd, imo don't ever go above 5x leverage. Start with 1x or less, and then you can double down safely if it goes against you. If you go this route you'll never get liquidated.
You can gamble with high leverage but it's literally gambling.

Any tutorials on trading with leverage?

I've been through babypips and used some of their methods - but I still feel like it's gambling, I use these trend lines and TA, it works sometimes but most of the time I get stopped out.

Why does your liquidation price change whilst your contract is live? Shouldn't it be locked in when you make the contract?

>Manipulated mark price
>Position info such as liq prices sold to whales
>"unexpected" outages at crucial times
>Based in bu fuck nowhere so you can't sue when the inevitable shutdown comes

Have fun, retards. This shit is pure gambling. Just go to a casino... you will lose everything.

Don't listen to the wannabes on /biz/ telling you thay they trade, they lose more than they make.

You're competing with traders with 20-30 years experience, literally thousands of bots, Bitmex manipulation, etc.

YOU WILL LOSE YOUR MONEY.

I WANT YOU TO REMEMBER THIS WHEN YOU SEE THAT LIQUIDATION NOTICE. I TOLD YOU FAGGOT. BET YOU WISH YOU DIDN'T DO IT NOW DON'T YOU?

>>7262592
are you changing your leverage?

>>7262788
I am, yeah. But I still don't understand why I can change it to and back and the liquidation price will now be different to what it was before I touched it.

>>7262592
If you on swap, its because of the funding fees.

>>7262852
I'm not exactly sure. I just tried and it was slightly different when I moved the it back, but then I tried it more and it stayed the same.

>>7262739
Prove your claims.

>>7263227
If I had the commitment and free time, I'd have already made a Bitmex'd Twitter akin to the Bitfinex'd one

>>7263306
hahahaha salty dumbfuck gets liquidated on high leverage, and can't handle the fact that he's literally retarded, and so he gets mad and is going to spend the rest of his life poor and on twitter talking endless shit with no evidence to back it up.
Sounds about right.

>buying cryptocurrency on a mexican exchange
>biztards are literally this stupid

>>7263494
>thinking an exchange called Bitcoin Merchantile Exchange aka BitMEX is Mexican
>calling other people retarded
kek It doesn't get any better than that.

>>7263433
Except BitMEX actually tips off whales so you get liquidated faster. It's obvious.

>>7263560
Bitmex doesn't need to tip anyone off. It's all right there in the ledger. The whales are just WAITING for you try and open a 100X position.

>>7263560
Doubtful. Regardless, market manipulation does occur but tough shit. If you want to make big money then prepare to risk it. Look up 'lure and squeeze' tactic used in markets.

>>7263433
Sounds kinda familiar, like I don't know... Bitfiniex'd maybe?

>>7263560
OK 1st of all, my liq is $6550, come at me bro.
2nd Who gives a fuck if they sell that info?????
Do you know how it works? They have to move GDAX and Bitstamp to your liq to get you, not bitmex price.

>>7263666
check'd and he actually said that specifically, so yeah.

>>7260897
It stands for Mercantile EXchange and it's based in the Seychelles. Mexicans are too dumb and feckless to make something as great as bitmex.

>>7263895
you got successfully baited
welcome newfag
Meal of the month is chainlink and FUN enjoy your stay

7263915 (you)

>>7263915
doesn't seem that way?

If any of you anons are going to use BitMEX, use my referral when you sign up. It's gives you a 10% discount on fees which doesn't sound like much but in two months I've racked up $1900 in fees alone and I'm a complete poorfag. Then I get 10% of your fees from BitMEX. I wish I would've know about it before I signed up because that's $200 I've lost. Anyways here's the referral link. Oh and you have to completely register your account within a week to get the discount.
https://www.bitmex.com/register/SVU1C1

>>7264024
hes right and i know it too im just posting this in every bitmex thread i see to find the newfags

I lost $50k in mex the last 2-3 months, dont get started on that path kid, that shit is rigged.

Worst time was wheb I got liquidated because gdax went into maintenance so bitmex took them out of the equation and only used bitstamp for the index and rekt me. Fucking pissed me off so much.

Guys please explain what i did wrong. Yesterday i bought 118 contracts 0,0142 BTC at 8700 USD with x4 leverege and i set sell 118 at 8800 USD with x5 leverage i think (liquidation price: about 7500 USD). Today - i see i sold it with success but i got some pennies from whole deal: Realized PNL 0,0001 in balances amount states: 0,00019844. So why so small profil if i got with big risk x5, high liquidation price? How should i move my 300$ to get any money from this?

>>7264344
well, theres the fee's you have to pay and theres a calculator (top left) you can use to calculate profits.

>>7264344
You had 118 contracts.
The profit will be exactly the same no matter what your leverage is.
The leverage only changes how much margin you put on the position.
If you want to do 5x 118, then you need to use 590 contracts.

>>7264344
Well your contracts gained like 1% but you probably paid .5% in fees so yeah you got peanuts. 5X leverage isn't going to make you anything unless you have serious money on there.

I've been trading bitmex for over a year now daily, often entering or exiting more than 4 positions a day, low leverage and low initial fund exposure are key to my strategy and is the reason I haven't been margin called since implementing/focusing a lot of risk management. My performance last year was modest by crypto standards but I was happy with it - +72% BTC (+2891.77% in fiat) over the year with the highest fiat drawdown of 34%

A lot of people get rekt when they start on bitmex but its just a learning process, I myself lost 2 BTC when I first started and yolo went to 50x (max at the time) which was about $1400 at the time, I figured I'd just work extra hard for a few weeks and rebuy it but I never did, heh. I'd recommend only trading with a small portion of your BTC something like 10 or 20%, you should avoid cross leverage to begin with as its deceiving and a liquidation would result in an account wipe out stick with isometric leverage no higher than 3x (33% BTC move away from your entry would equal liquidation) and with only a portion of the funds in your account so you can safely hedge, delever or average up your position.

So if you hold 1BTC right now you should:
have no more than 0.2BTC in bitmex
be opening positions with no higher leverage than 3x and no greater in margin commitment than 0.04BTC
do this until you are comfortable, so you're position would have the capital potential of 1100 USD at current prices and you should aim for higher than +5% profit on those positions but lower is fine - the point of it is to reach profitable consistency which is the only reason why you should up-size your capital commitment.

You can also use bitmex to hedge your overall holdings yet you commit only a portion of the capital to do so something like 5x incorporating good use of stops. the other use is degen gambling which its also great for but you are only supposed to do that with small portions of profits.

>>7264552
You could've put that in any shit coin and made at least 4 times that. But honestly congrats on not losing money on bitmex.

>>7264344
what the hell do you expect with 118 contracts?
you only made like 1% on the contracts. of course you will only get pennies.

if those would have been 10000 contracts you would have made about $100.

>>7264184
Did someone sign up with my ref? I just got another affiliate.

>>7264543
I'll never understand people like you who talk out of their asses.
Bitmex fees are literally fucking negative if you use limit orders. That means you get fucking paid lol.

>>7264973
long 10000 and then short 10000?
or long 118 and then short 10000? like >>7264537
said?

>>7265132
Maker fee is what you pay when you make a limit order. Then that is multiplied by your leverage. Then you have an additional fee on close. Have you ever looked at your trade history?

Whats with all the bitmex shills encouraging retards to literally gamble away their crypto? Margin trading is not for everybody, and making it available to everybody is simply abusive and exploitative.

>>7265258
Taker fee* my bad

>>7264651
>You could've put that in any shit coin and made at least 4 times that.
I did but never more than 1% of my overall holdings go to speculative plays of that nature, I made my own top 20 index and allocated 25% of my holdings to it and kept it rebalanced/correctly weighted ect to maintain exposure to alts and it actually out performed my trading (the average daily % gain that is) but its only been going about 5 months. I am too lazy to research all the time so yeah of course I am going to miss picking up a smallcap gems and riding their rise all the way to the top 20, even if that did happen there's no chance I wouldn't offload until my initial is cleared during its rise anyway.

>>7265133
what do you mean? do you want a trading advice?
if you only have $300 and want to buy 10000 contracts you would need a lev of at least x33.
I would advice against this.
especially right now where bitcoin could go anywhere.

>>7265296
I would never tell someone to do it but if they're going to do it, they might as well use my ref code. It's very hard to be successful when you have bots scanning trade data and figuring out how to REKT the most people possible. If you have a few million dollars you could honestly never lose with bitmex because all you have to do is manipulate Gdax like crazy

>>7263706
>margin long in an extended bear market
kek

>>7263706
Who gives a fuck? Any one with a brain. There's no rules against trading on bitmex and the index markets. That's pretty fucked m8. If you did this on Wall Street you'd be in Federal prison

>>7262188
very ouch

I lost 1 btc at bitmex too recently, after grinding it for 3 months playing safe.

One day I felt trigger happy and lost everything.

>>7262739
Copypasta
We can tell you're talking about your own experience, how did you get liquidated?

>>7260723
It's also the ultimate way to become poor.

>>7265758
It's not copypasta.
I left with more than I started with. You'll find out.

t. Traded first day they opened

>>7265923
Yet you can't prove any of that, not even the "profits" you've made there

>>7265258
The fees are based on the notional value of the entire position, regardless of your leverage.
You get a maker fee if your order is in the order book and someone takes it.
That is on opening or closing.
You can use bitmex and never pay fees other than possibly paying the funding fee if you're on swap, which even that you might get paid.

>>7265357
Its from $8009. fight me.

>>7263494
Bitmex is not an exchange in the first place. It uses undisclosed exchanges as part of its pricing algorithm

>>7266141
You can't prove the earth is round either

>>7260723
fuck off bitmex shills
the other day it CONVENIENTLY HAPPENED TO go into maintenence with no warning and liquidated millions of dollars of margintraders assets because they couldn't do anything.

>>7266292
Wow why am I even talking to you?
The absolute state of biz

>>7266345
Pic?

>>7266349
You in pic

>>7266496
back to your containment board, mongoloid

>be millionaire
go long 100x on bitmex
buy 1m of bitcoin on gdax
profit

>>7266345
Yeah I saw that. Complete bullshit

>>7260723
Go home Samuel

>>7266345
>>7267087
Did they have stop losses tho?

>>7266345
this

This is the CEO of Bitmex btw, is this who you trust with your money?

>>7263915
Faggot

>>7267222
https://www.bloomberg.com/news/features/2018-02-01/bored-with-banking-this-former-citi-trader-went-full-crypto

You tell me

>>7267178
I have no clue. It went up so fast they probably didn't trigger in time if they were shorting

>>7267318
Literally didn't even touch the topic of market manipulation on his exchange.

>>7267384
Every exchanges is doing market manipulation, what's your point?
Even Bloomberg did market manipulation the other day FUDing on tether

>>7264651
Backtrading is easy.

can i use it as an American secretly?

>>7267222
He may be black but he's definitely not a nigger. Go listen to an interview with him, he's 100% certainly smarter than you.

>crashes every time the market tops or bottoms
>cant close your position until it has already moved 20%
>institutional money is literally farming you, fake breakouts, fake supports, fake resistances
>random news can pump price 30% in an hour either way

good luck, have fun getting liquidated

>>7267769
Reminds me of poloniex

ive been trading on bitmex for six months and my net profit is 3.3 btc.

all these people complaining about liquidations, outages and manipulation are retards who used too much leverage and got liquidated.

i always trade cross, usually with less than 1x leverage. anything above 5x leverage is madness except in very special situations. even 2x is usually too much. also make sure to fully understand the instruments before trading there. read their docs

>>7267222
He dont look hispanic

>>7268006
exactly this.
very rarely do I go over 1x, only in times like the crash I was 2.2x by the time the actual bottom was in and it took off.

>>7268197
how much are you getting paid for your posts?

>>7268807
is everyone a fucking conspiracy theorist these days

>>7268006
>3.3
Yeah, you started with 12 right

>>7268807
>dumbfuck who gets liquidated gets assblasted at bitmex and thinks they are manipulating shit to liquidate people
>anon tells him how to never get liquidated
>dumbfuck who gets liquidated thinks guy telling him how not to get liquidated works for bitmex
which is it retard? does bitmex want you liq'd or not?

>>7268911
why else are you so vehemently using your free time on defending some shitty exchange?
also
>he believes the holohoax

>>7260723
It's also the ultimate way to get homeless

>>7269071
look at all of his posts in this thread you mongoloid
also i've only ever margin traded once in my life on shitfinex, where I gained some money (but fuck was it stressful, never doing that shit again)

>>7267222
He did steal his customers BCH

>>7269046
started with much less bro. i've withdrawn more than i've deposited a long time ago

fact is the competition on bitmex is much weaker than in any other derivatives market

>>7269208
>his
uh there are multiple posters you schizo

>>7269208
you know what faggot they should pay me.
but i trade there all day, so why wouldn't I defend it against the typical lies from dumbfucks who get liquidated because they are literally too stupid to even read what the fuck they're trading before they put thousands of dollars on the line and loose it in 4 seconds?

>>7269381
>uh there are multiple posters you schizo
wait, you have eyes?
my point is that >>7269071 has been in this thread for several hours just to respond to criticism to the exchange

>>7261073
they don't care, just use mullvad in a VM and enable block internet connection when not vpnd in their client options so you never connect from burgerstan by accident


I recommend against it tho, you always end up losing, always. The more you're up the more greedy you get until you fuck yourself

>>7267222
Watch some interviews. He is a legitimate guy.
Id say theres no room for deadshit racists in crypto, but we really need retards such as yourself to profit off.

>>7269346
How, they were sold and accounts were credited

how do taxes work for trading with bitmex? you don't buy and sell there, so it's probably not like trading altcoins.

i'm interested in eu countries, not shitholes like the usa.

Extremely easy making BTC in obvious rebounds like 2 days ago, BTC was retardedly oversold once it went below 8k.

Just never use stupidly high leverage. 17x is what most experienced traders use in those situations from what I've heard, I'd never go above that. Personally I use 3x, 5x long/shorts, and 1x shorts as a way to cash out without using tether/fiat.

>>7267222
>ozy Arthur Hayes
With a name like that I trust him as much as I trust Will Smith and Eddie Murphy at acting.

I'd still kill 97% of nignogs including the children of Will Smith and Eddie Murphy(except Eddie's wife, she's actually amazing, too bad the kids didn't end up like her).

>>7260723
Did any one of you know someone who went 50x or 200x on Ethereum when it was below 20$ and he managed to ride it to 380$?

>>7269547
I was just baiting m8, thanks for taking it.

>>7270727
You would be murdered by funding

>>7270744
It was a relatively fast bull run to 380$ compared to waiting 1 year for it to go from 50 cents to a stable 12-15$ range

>>7270744
Don't use perpetual swap for long term

>>7270868
What should you use instead for long-term? And what counts as long-term?

>>7270744
How does funding work? How do they decide who pays?

By the way doesn't Bitmex have an option similar to Poloniex? where you can loan the bitcoins needed for margin trading and in return you get paid in fees per day?

>>7271369
Short 1x is similar

Longs usually pay shorts each 8 hours

>>7271480
Works only when you're short overall or want to lock-in profits, obviously

>>7260723
Ultimate way to get rekt if you're a noob.

Sucks how you can only deposit bitcoin and no ETH/LTC, I'm going to get raped by transaction fees aren't I?

>>7260723
>found out the ceo is a nigger
>immediately withdrew all funds

>>7260723
BitMEX trollbox is fun

>>7272456
this is the only thing keeping me out

>>7263306
someone already did
https://twitter.com/bitmexrekt?lang=en