/biz/ - Business & Finance

>>8224813
its a zero sum game u brainlet. might aswell go dice if you wanna gamble.

if youre not a pro trader u will get rekt

>>8224813
i lost about 6k to it, feelsbad

>>8224813
For every winner, there is a loser. For every person that wins it big, there's someone that loses it all.

I got JUSTed on bad long bet at 7k

>>8224813
you are suppose to lose your first two deposits to acquire some sort of knowledge.good luck

>>8224813
>>8224851
just a bit of backstory, i started off with high leverage, didnt understand the fees, didnt know you could sell and delverage (this would have saved my ass plenty of times at the beginning). Then I would lose my balance of around 100-300 bucks and say im never going back. Then i deposit more for some stupid fucking reason, then tell myself i wont use high leverage. always do and lose the entire balance again because i think to myself its not that much to lost. Calculated the amount ive sent there and it equals around .6 btc

Lost $1500 yesterday, was long from 9900

>>8224813
i got liquidated on the way to my target, btc just touched my liq price and went straight up(like 2 weeks ago). I was asleep so couldnt add margin.

Price swings in crypto are way too high for leverage trading. If you make the right call then sure you can earn shitloads. But the smallest shift can stop you out.

>>8224884
you have gambling predespositions

>>8224910
this kind of shit happens way too often

>>8224919
>using stops
heh

>>8224921
Lmao i know that, used to gamble tons. lost my whole bank account but luckily made it back with the tiny bit i had left and broke even. quit online gambling that day, not counting a little bit of crypto gambling of about 20 bucks every now and then.

>>8224936
I would honestly die of anxiety otherwise.

>>8224910
Exactly the same story. Liquidated on a long. It went 2 dollars below my liquidation price then back up immediately.

Some retard billioinare gave me and my friend "inside info" that after the first futures expiration they would pump btc. I lost 50 btc 1 month ago and my best mate lost 250 btc....So yes there are losers. And after that i am never touching it again

>>8224964
If you truly believe in your position, what good does a stop do? Hitting your stop then taking off in the opposite direction is the ultimate JUST

>>8224813
Noticed a bug.
Submit a limit order. Just before it appears, someone submits an overlapping order.
My order is immediately fulfilled, without the dialog about taking the market price. Is marked as Limit in my order history.
However, is displayed as it was Taker transaction in recent transactions. The Taker fee is withdrawn.
Bottom line: I want to submit limit order with low fee, but Bitshit handles I as market order with high fee.
Anyone else noticed?

I use tight stops and 10x leverage. In september-december it was absurdly profitable. These days its just too dangerous.

Got liquidated for 8.23 btc today on a short that surged up, the GUI froze about 100 from my liquidation price and then unfroze with a "DING" to let me know i was liquidated. I even made bitmexrekt. Had my s&w .40 cal in my mouth about 2 hours ago but decided against it. I have 0.4 btc left and i'm going to try and trade it back up. That's all i can hope for.

Cont from above billionaire post.....Just too much stress for small gains, can play the alt coin/ bitcoin game for less stress and similar gains. When i used bitmex i found myself glued to the screen and I definilty did not like that

>>8224984


Cont.....

Also when btc dipped to its lowest point the fkn bitmex froze up so prevented me and my friend putting any longs on, and when we could access it again it was up like $1000

>>8225006
Holy shit, can you post the trade?

>>8225056
I may later, I'm not going on there for the weekend. I don't want to an hero right now. Seriously. Say what you want, i'm fuckin' triggered.

>>8225006
Ouch dude, you'll make it

if you trade at more than 5x you're greedy

3x is the thinking mans leverage

>>8224813
Yeah I've gotten justed, 0.1 BTC loss, recovered on it today with the recent crash from 9400 to 8300. Today I'm looking for 1 more entry to get into profit.

I'm going to be dead honest here. Does anyone have any resources they don't mind sharing on entry points or tradingview resources for margin trading? If not, that's cool. I've just had a rough day and feel like i'm trying to pick up the pieces

so it seems like this is the only way to make money currently? i see on twitter on here all the time people making huge ROIs.

what is the downside and why shouldn't i allin into bitmex coin right now?

Can someone explain leverage to a brainlet? So if I short or long do I have to choose the exact price I think it will go to? what determines a liquidation? Going just a cent above if you short and vice versa?

>>8225072
i would be also.

>>8225126
use the same TA for normal trading, understand the trading range for the past few hours and set your stop loss just outside of it, try it keep it around 20% and don't trade all your money

>>8225143
just open an account on their testnet(is slow as fuck but you can grasp how it works)/read their faq or play with the real platform like a big boy

>>8225105
3x is for faggots. 25x is for high-risk high reward alpha chads. just remember to set a stop loss.

>>8225137
That's what I saw too, I but as evident in this thread, there are alot of JUSTs behind the success stories

>>8225143
You buy more contracts than you can afford. 100x leverage = 1% movement in either direction gets you 100%gain/liquidated, 50x =2%, 25x = 4%, 10x = 10%.

>>8225177
>>8225178
got it. nice one anons

>>8225143
the site allows you to buy nx more contracts than you would through leverage (n=10,25,50,100 mostly). You either go long or short, then you have liquidation price that is your lose everything price. if btc goes up 1% and your leverage is 10x, you get 10%. if it goes 10% and your leverage is 50x, you get 500%. You decide when to realise the profits, when you approach liq price you can add margin, so put the price further.

https://mobile.twitter.com/bitmexrekt?lang=en

Watch this

>>8225143
you have .5 btc, you buy (randomcoin) on bitmex that is trading at .1 btc each, normally you could buy 5 but you leverage at x2 so you have 1btc means you can buy 10 of the coin

your leverage determines your liquidation price, 2x means that if the price goes in the opposite direction of your contract (up 50% in a short, down 50% in a long) you will be liquidated, 10% in 10x etc

>>8225006
I have 0.0087 btc right now and I'm a happy man. There's is absolutely no reason why you can't be a happy man too.

>>8225618
i have 2 btc and i'm pretty happy

>>8225618
Well unfortunately to my own stupidity i have a 1500 dollar a month lease to pay on my car(Mercedes E63 AMG S) and that's gonna really start eating profits up if i don't get ahead of it now.

P.S.- It is the loser suicidal guy, i just changed computers

>>8224813
Don't put in more than you can lose. You should be following that rule in genrral, but really with BitMEX.

>>8225179
50x is for degenerate gamblers, what is 100x for

>>8224813
Well, my first attempt at BitMEX resulted in me losing 100% of my funds

My second attempt saw me turn 0.02 BTC into 0.72 BTC in 3 days

>>8224813
From 0.31 тo 0.06 in two week.
Not /comfy/.

>>8225782
What the fuck is that return today? Did you 100x on the exact bottom/top or something?

You’re not even going to get to 50 replies normie

Arthur got to eat, for every winner there are at least 100 losers

>>8225839
>implying

>>8225839

Shorted btc from 7.1k to 11.5k with a huge short
Shorted from 11.5k to 11.3k with a small short
Shorted from 10.8k to 10k with a small short
Longed from 9k to 8.4k with a medium short

I lost track of how much I lost, pretty much everything I had, feel like killing myself

I knew btc would crash which is why I kept my short on the way up and kept adding funds to avoid liquidation, but it got to the point I couldn't add funds anymore so I closed most of my short, and that's when it finally started crashing

I mean why? Just, why?

>>8225760
wreck it and claim insurance. easy peasy. NEXT.

>>8225939
>Shorted btc from 7.1k to 11.5k with a huge short
Fucking jesus

>>8225939
Daily PNL or gtfo

>>8225939
i longed 50x at 8500 before the run to 12k
got liquidated at 8400 because i was too noob to add to my margin
would've unironically made it and been done with this shit

>>8225939
>>8226024
the fun of the game is what makes it worth playing desu

>>8225939
Trading is a skill. Don't trade for amounts that matter to you when you're clueless.

>reads whole thread
>literally zero positive stories

don't take trading advice from biz

>>8226040
A lot of info convinced me that btc was going sub 1k, when it was at 7k I never thought it would break 9k, much less 10k or 11k. I know I'll be right, I know it will crash hard. If it had stopped at 11.4k I would have been good, but it kept going further. I am completely exhausted and depressed now, staying up day and night watching the charts, setting up alarms before going to sleep, all for nothing, I would have 4 btc now if I hadn't had to close most of my short at 11.5k, instead I'm left with 0.5 btc, and don't know whether to long or short with what's left anymore.

Last night Teeka said it would double bottom at around 9k, some japanese whale said to buy the dip around 9k, I thought hey might be good to long at 9k I might make some of my money back and then I will short higher. Nah I got fucked as usual.

>>8224813
Im going to be completely honest, never fucking go to that site. I've lost my entire portfolio, a year's worth of trading alts, in 1 month there. If you absolutely determined to lose all your money, use my ref link to sign up so at least you get 10% off fees and your enevitable doom is put off slightly longer.
https://www.bitmex.com/register/SVU1C1
I just encourage you to read all of the stories from anons who lost everything. But like I said, if you're really determined to lose everything, at least sign up with my link so I can get a few pennies off your impending demise.

yes it's rigged you won't win unless you're lucky. realised that after losing 2k and not sure how much of it was due to fees lmao

>>8226184
Fees are actually negative if you use limit orders, meaning you get paid. Market orders will kill you though, especially with high leverage. Many anons don't realize that your fees are multiplied by your leverage.

>>8226160
>>8226173
>>8226184
no

it's not that hard to make money if you just aren't really greedy, 5x is the absolute most you should trade on leverage

>>8226209
Even with 5X it's extremely easy to get liquidated

>>8226257
No it's not. On 5x you would need a 20% movement to get liquidated. If you longed from 9k, you would get liquidated at 7200.

Just play forex, its actually legit and not a scammy bucketshop

>>8226257
That would take a 20% price movement. It happens but saying it's "extremely easy" is pretty ridiculous. Especially since you can place a stop anywhere short of that.

If you want to know what not to do do the opposite of me

I have a small long open now, size 27000 entry 8800 liq 8350 (I'll probably close it if it gets sub 8800 though), I'll let it run for as high as I can, I'm still hoping for a last bull run before the final downtrend to the ground, that's the only thing that can save me now. If I short now and it goes up I would kill myself

Yea I should take a step back and all but I'm too involved now, I gave it all, either I somehow make it or I'm gone

>>8226284
can you have the trade open for as long as you want? Let's say i long at 9k with 5x, could that trade potentially be open the entire time until btc hits 7200 and i get liquidated? Would pretty much be a safe bet then, right? never say never, but i dont see btc hitting 7200 any time soon

>>8226204
Thanks. I've been trading mostly with limit, but the price is so fast I can't keep up.

you know there is a version for practising with?
https://testnet.bitmex.com/

i'll probably look into this more if/when one of my shitcoins 10x's and i have fuck about money.

>>8226322
Yes, but you'll lose money as it drops, when it's at 8k you'll already have lost half your money

>>8226365
yeah, but i won't actually ¨lose¨ my money for good until it hits 7200 then? If it goes from 9k to 8k but then up to 10k and i never close my trade, i would make money, right

>>8226403
Yes, it could go to 7201 and up to 10k and you'll still be up as if it never went down at all.

>>8226428
nice, guess i'll throw some funnymoney at this and try it out

i mean, either i win or i lose, i'll take those odds

>>8224813
Started with 66 dollars just to see how it felt, made it to 100, got rekt on the drop from 11K+, I kept taking baits to go long and ended with 18. With my last 18 dollars I placed a very conservative long by my standards that liquidated me at 8500 without stop loss and now I'm ded. I don't really regret it honestly, it's made me think a lot about the price of BTC and I'm glad I only deposited play money. Thinking about rebuying with 1K and just 1X long for a while.

>>8226184

My first position on BitMex was the recent XLM pump, made me x3 my investment. Then I tried to do the same on XRP and got JUSTed by the Coinbase CEO’s surprise tweet. Put in more money where I thought it was safe (my liquidation price was extremely low) and lost most of it on the MtGox dump yesterday, then the rest of it on the second dump (in case you’re wondering, the second dump was purely because japanese love being assholes). Lost about $3600 in all, which is about 2 months pay for me. Sucks, but all I need is one good trade to pay off all my debts and have me set for a few years, which is my goal. So I’ll probably be back after every payday until I get lucky. In the meantime, I guess I’ll practice buying the dip on their testnet. My goal is to be long in XRP when their Coinbase partnership is finally announced. $1000 x5 XRP x10 leverage = $50,000. Just hope it doesn’t happen before my next paycheck...

>>8226357
You can practice with it but it's completely shit. It's even more manipulated than the real thing. You can get test net XBT from faucets and completely manipulate the market. Like I clicked on 3 faucets and got ~10 XBT

Okay since crypto is in q bad place, my "investments" have turned to complete garbage

can someone who is decently successful on bitmex tell me what their strategy is? thanks

>>8226709
don't use bitmex unless you're good at trading

>>8226773
How do good people become good?

I'm decent at trendlines and longer timeframe stuff, but how do daytraders learn to daytrade?

>>8226798
do you see bitcoin going anywhere high soon? Upcoming g20 summit at the 19th. I doubt it's going high. Set longs at low 8000s, shorts at 9000s. free epic win money. don't use too high leverage though

>>8226798
practice

write down everything you're thinking about the trade, what are you indicators telling you, what is the momentum what are the trends write down as much as you can so after your trades go wrong (or right) you have something to look at and re-evaluate, write why you are entering the trade. the more you have the more you can look over what worked, what didn't work and how you think you'll fix it

don't start with day trading, start with a few paper trades and take them seriously, once you're confident start making longer term trades and move to intra day then day trading, and especially don't rush into using leverage unless you actually know what you're doing.
this will probably mean you'll lose money in the mean time but everyone loses when they start it's the price of getting better

>>8225001
>k
click post only mode ?

Went all in on short this last drop at 8450. Btc turns around and jumps to 900. thanks bog. The price is going up to liquidate me at 9500 and then drop to low 8s before going down to 4k, eventually.

>>8224813
if you think it's some magic wheel that gives you free money you will be shit on
leverage trading has the biggest risk possible and without knowing TA you have no chances even if you get lucky once or twice

>>8224813
So if you long 100x it means if btc goes down 1% you lose everything BUT if it goes up 1% you win a shitload of money?
Why isn't everyone doing this it seems like a 50/50 chance?
Is there a timeframe where this needs to happen? Like it goes up but has to stay like that for a week? Can't you take ptofits sooner?
Also can you cancel your trade at if btc goes down 0.9% and get your money back?

>>8225939
buy high sell low

>>8224910
Same shit here. I suspect shenanigans.
Everything points to an upwards trend, but the price will dip just enough to rek as many longs as possible along the way, then go back up and follow the trend.

>>8227421
>So if you long 100x it means if btc goes down 1% you lose everything
yes
>if it goes up 1% you win a shitload of money?
you'll double your money (minus fees)

>Why isn't everyone doing this
because people can EASILY push the price down 1% and rekt you
>Is there a timeframe where this needs to happen?
only until you close position by selling/buying
>Also can you cancel your trade at if btc goes down 0.9% and get your money back?
you'll lose 90% of your money

Using Bitmex without a good, solid understanding of TA is absolute suicide.

>>8224813
late 2015 I was long litecoin on bitfinex, lost about 80% of all my money at the time (about $65'000)

since, i've not really made a bad call. was up to close to $5mm back in december

Any money lost through trading is an expensive, but cost-effective learning experience, unless you're stupid

>>8227356
the bogs are real

>>8227356

>still buying high selling low

>>8226173
Someone actually signed up even after I told them explicitly not to lel
>the absolute state of /biz/

>>8227995
I was waiting for it to peak before the drop when it was around 9700. It started dropping way sooner than expected and I had to jump on a moving train. Of course it stopped and reversed at that very moment. I'm still thinking it will go lower. I would do the same again.

>>8224910
>mfw 8.23btc will be worth several millions in an year or two
get fucked retard, you are one of the shrimp we keep track of every time a new account is made. don't an hero, we need you to give us that last bit of btc before you go

>>8225006
for you >>8228736

>>8224813
Trust me, I got Justed

>>8224813
1/2
I've been trading on bitmex since October 2016, I was inspired to do so after a group of alt traders who I shilled with in 2014 got into margin trading at okcoin and all they started talking about was BTC/USD and it seemed rather weird for me at the time, I guess how a lot newer blood would feel today. Anyway I deposited 0.1 and did a period of viability testing on 50x (before 100x was a thing), I did great for about 3 weeks but not quite well enough for me to warrant pulling any funds - it ended when I foolishly got trapped in an underwater position (I was allergic to stops) and I deposited 1 BTC to keep it, I can't remember if it was a short or a long now but I ended up losing that 1 BTC also so I was down 1.1 BTC from my test. At the time I was kind of upset by it but I just felt like I'd work extra hard for a week or two and simply rebuy the BTC as that was possible at those prices. Through November and December I did a second viability test on 20x and the result was the same... I got margin called and it bought my losses up to a total of 2.21824 BTC, I wrote it down on a notepad that I have attached to a piece of furniture by my screen so I'll never forget the lesson of it. At the time BTC hit a high of 1175 or so not long after I actually liquidated 1 BTC to cash out the rest of my initial investment from the years prior at 888 (I often feel a bit sad about this but eh this is a game of regret no matter what). Anyway I vowed to never lose a significant amount in bitmex ever again so I focused massively on risk management with my trading.

>>8228770
2/2
I stuck with low leverage and low fund exposure, so for every position I entered I'd be using 10% of the funds on the account but didn't rule out adding to positions once they were entered, I utilized stops with a decent enough risk:reward for every 1 successful trade that met its targets I could get stopped out 3 times (tight stops). The bulk of my strategy early on was trading the divergences and walls from finex to mex as my timeframes were pretty short term but this is no longer very effective, for all things considered mex actually leads the market now, it would especially if they adjusted the index to include the rest of the market and not just stamp (which I think is retarded as their volume is minuscule) and gdax. Anyway I basically focused on consistency over profit ratios and I traded every single day since january 12th 2017 and I've never been margin called again (I miss the days of sub 4k users and INSTANT entries none of this rushing to enter clicking the button 20 times bs), I've had some pretty big drawdowns (biggest was -36%) from consequentially getting it wrong and having putty hands and straying from my strategy with short term positions but hey, I recognize I am actually pretty bad at trading which is why the risk management is important to my survival. I ended the year +104% BTC only from mex, which I understand is very modest gains for crypto, and yes I'd have made more entering a 3x long in the vicinity of one of the lows and letting it run but that's why day trading is not great and every mistake I made I have tried my hardest to learn from that, which you should all do also. Regardless I've seen many gamblers and 50x, 100x folk come and go all of them adding to Arthur Hayes personal wallet, the people here on /biz/ are perhaps the new fresh blood, I was happy to not discuss mex here because I knew this would be the case but its too late now. The best way to be safe is to pull your initial if you do well then trade risk free.

>>8228736
That's not very nice, anon.

I've started BitMEX 2 days ago, I do 50x trades, only for a couple of minutes, all trades gave me profit, i've only done 3 trades so far and made around 30 USD from it. I have deposited 450 Dollars in BTC, but I only do trades for about 2000 contracts (ie 2000 USD)

>>8228826
In summery it can be deduced down to these points:
>don't over leverage, unless you are playing with tiny portions of profits (if you made 10btc for example 0.1 btc or even more on a degen 50x account is entertaining and potentially profitable if you are a pro sniper knife catcher)
>low fund exposure - don't over commit the funds in the account to a position leaving funds available gives you hedging possibilities or other options (averaging, delevering ect)
>pull your initial if you over 2x your account
>use stops
>never trade against the long term trend if you plan to hold
>ease into your position
>use limit orders wherever possible + referral code those fees add up
>don't trade on bitmex

But hey, like I said I am a bad trader so don't listen to me and find your own way. Good luck out there and may the bogs be with you.

>>8228949
I'm new to bitmex, been trading for the last couple of days. When the price goes "above" my entering price, I usually set a stop at my entering price. That way I won't lose anything and I can open another position at a lower point if it drops beneath me. Am I missing something, or is this a good idea?

>>8229047
a take profit stop yeah its normal and good risk management to do, its fine to break even on a trade.

>>8229114
okay, that's good. Was worried it might not pay off regarding fee and whatever. I regularly close a position and there is a small amount missing from the profit. Also it seems like a small movement in the wrong direction and I'm down 20%, but 20% profit is like a miracle.

>>8229365
Yeah a break even stop will yield a small loss but if the position is profitable you should move a take profit stop into slight profit to cover that.

>>8225868
Do you think he posts here? Guy was into Crypto in 2013/2014.

>>8225776
bogandoff twins

>>8224996
I believe I can guess wrongly.
That's why I use stop losses.

>>8226483
if you're gonna 1x long why not just actually buy bitcoin

so far i've been liquidated twice going long and closed my short at a net loss right before the big dip
depositing 0.13 btc now to go 25x long again, with half a stack this time. if im liquidated again i will short.

>>8224813
Lost all my money got liquidated at 8.9k when it shit up to 9k and dropped back to 8.7k. guess it's time for me to find a job and finish University

Best site for Burgers to margin trade?

>>8230155
Proxy to register then bitmex

Put in a short at 18x back at 10.3, I started there with .035, i now have .198, by no means rich, but i'm pretty happy. I stayed up til 4am watching, still weighing if it was worth the anxiety.

>>8230044
The whole point is not add any more fiat. You are basically borrowing money - and if you do it on futures, you are borrowing interest free.

>>8230073
why go long when there are flash crashes multiple times a day? I don't understand this. It's like jogging in a minefield.

followed many twitter people's TA. think i followed 4 of philakone's calls and got burned every time - and he always updates later like "lol never entered that trade" after telling us on stream what trade he was about to do.

tried following zatazu's calls too(the dude that turned .2 btc into 8btc), got burned every time on his calls too

i could just be unlucky or these people just got outrageously lucky in the past

>>8230789
Yeah zatazu posts his entries late I noticed, he'd do better using 1broker and having copytrading enabled. Personally I like Tone Vays analysis and I even adopted the TD indicator after seeing him using it, hes got some good resources on his site too.

Lost most of my $2k portfolio in a few minutes today. Don't get greedy and use high leverage - sudden pumps are what got me and so many others.

>>8224996
>waiting to get liquidated instead of setting a stoploss
WEW lad

>>8224813
It's literally gambling.
You want to lose your money? Go ahead and fucking use it.

You have to be a complete emotional moron if you get rekt on bitmex.

if you have half a brain, you can figure out how to open safe positions with moderate leverage (5x is pretty safe) and slowly build your gains up. dont get greedy and be ready to bail at any moment, even if you are at a little bit of loss.

JFC keep your feefees out of this and it can be modestly profitable until you are willing to take bigger leveraged bets and have a better understanding of TA and how bitmex works.

https://www.bitmex.com/register/yWTiYE
^discounted fees for you if you use my referral

Lost 11000usd, about 0.89BTC at the time.

Liquidated.

Gambling website, which does not let you place your order when you must, timeout etc errors.. Then liquidated.
Their trading engine is gambling engine, with specific quirks for determining mark price and collecting dumb money.

Also, all this "finance" bullshit words, contracts etc.

My wife is CFO, she says none of the contracts make sense or follow the regular meaning of other markets.

Bitmex is thin bullshit words disguised to attract dumbasses to think they are real finance men, with flashy text and blinking prices to lure you in, just like a CandyCrush game.

Can you short on bitmex with no leverage (x1)?

>>8232497
Yes, same as tether basically, minus the FUD

>>8227382
TA is fucking worthless. Yesterday all indicators were pointing towards a pump but it suddenly dropped twice with huge candles.
TA does NOT work for crypto. You're trying to perform vodoo magic on an unregulated market controlled super easily by an individual with enough capital.

>>8232664
lmao TA was clearly pointing towards more dumping you clueless mong

>>8232779
So why aren't you a billionaire yet retard?

>>8232835
BECAUSE I FELL FOR THE HODL MEME :(

But feel free to post your address so I can send you $2 worth of btc and laugh

>>8232898
>so I can send you $2 worth of BTC
that won't even cover the fees kek

>>8228736
Cool story, Shlomo. I know you're just projecting because your bank account hasn't ever had more than 2k in it your entire life probably.

Got close to liq price and stopped me from logging in.

Doess this all the time with people once you trade with more than a few grand

you will learn.

its fun but not for large amounts obviously

>>8232410
lol this

Lost 600 in this dump due to 25x long

>>8232898
Anon you can send me $2 of BTC and laugh at me.
3BMEXyS4SZ5SUXzbNK1tDR4v59u9xzLAox
>t. anon who lost literally everything he had to BitMEX

>>8224910
>he got liquidated?

pump it

>>8225126
if you need to talk:

discordggDOTgZfqS2

>>8228736

>>8230073

How about stop doing 25x leverage you mong

Or do proper risk management