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7528852 No.7528852 [Reply] [Original]

Ok, I'm prepared, redpill me on this degeneracy. I'm a near complete noob, I know what short and long means and kinda what leverage means, but I want to learn more. Tutorials, definitions, videos - point me in the right direction. I'm one of those old fags who has way too much btc and I'm ready to gamble a lot of it.

Best redpill and I'll sign up on your ref code.

>> No.7528989

Don't do it. Bitmex is for suckers

>> No.7528991

le sigh. Firstly use the bitmex testnet (google it) and get used to trade on margin. Secondly don't gamble a lot of it (seems like youre still an emotional trade) ...you're going to rekt quick. Trust me. Which leads me onto my next point...if you get good then dont get greedy. No matter how good you get (look up the guy who lost 200btc). Emotion takes time to control.
>in b4 TA is a meme
But, you need to learn TA. Margin isn't simply 'hurr i'll buy anywhere and hodl' you really need to know your shit. And beginners luck means nothing. I'll explain:
>Be me
>Learn about margin trading when btc was 5k to 3k
>Learn about shorting
>Think im a short god, turn 0.1btc into 3btc using x50 leverage
>holy shittt im unstoppable
>BTC turns in price and boom, all gone
Be humble

>> No.7529055

you should not even think about bitmex if you're a "near complete noob". you can drain your account to 0 easy enough not buying on margin.

>> No.7529075

>>7528852
If you’re not Mexican, don’t bother. BitMEX is for real Mexicans only.

>> No.7529155

look Up flood bitmex he posts here some times. My strategy would be to play with 10% of my stack and treat it like a cash account (betting up on 6 month futures on low entry points)

>> No.7529178
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7529178

Short anon from the other day here.

Honestly, you'll likely lose a lot at first, but the trick is to only use small amounts to start off with.
They say its takes approx 30k to lose before a trader starts getting good and making money.

That said, you can just get "lucky" and make a lot of money.

My advice:
>DO NOT USE 100x
100x sounds great, but it isn't. You will get liquidated.
Use a smaller leverage and make sure it gives you at LEAST a few hundred bucks space to breathe. So, make sure your liq is say 500 USD more or less than the current price.

>Set stops
Learn how to set stops and set them so you auto close out at X percent loss and save yourself from losing it all in one go

If you want to use my ref, then go for it:
>www.bitmex.com/register/xGqMf5

Best going in with the mentality of "I need to be EXTRA careful here"

>> No.7529221

>>7529178
Also, don't use TestNet. It's garbage. It's not the real thing.

If you want to learn, then use the real thing, just be cautious. Have fun as well, which helps to learn, but don't just sign up and sell/buy your entire stack at 100x

Use say 100 bucks worth and test the waters with more each time

>> No.7529430

>>7528852
It's basically gambling. Please don't play with this OP