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7993328 No.7993328 [Reply] [Original]

>deposited 0.5BTC
>went all in 50x long at $10200 (don't ask me why)
>went to sleep
>work up and closed position at $10700
>made a profit of 1.43BTC

This thing is addictive as AF.

>> No.7993348

>>7993328
>went all in 50x long at $10200 (don't ask me why)
Why?

>> No.7993357

>>7993328
sounds like fucking bullshit to me
i'll soon release a site so you can prove it with history and charts using your api

>> No.7993728

U cant x50 on a long
Dumb biztards

>> No.7993751

>This thing is addictive as AF.

No worries, i can guarantee you will lose it all again.

>> No.7993754
File: 26 KB, 406x438, mong.png [View same] [iqdb] [saucenao] [google]
7993754

>>7993728

>> No.7994061

You mean you made a profit of 1.43 XBT. Which isn't the same thing and is only recognized by bitmex, enjoy your counterfeited monopoly toiletpaper.

>> No.7994142

>>7994061
Are you 3tarded? You can withdraw any time.

>>7993328
OP, that's good for you, but longing with such high leverage and going to sleep risking to get liquidated and lose 5k in one go is just gambling. How often can you get lucky?

>> No.7994294
File: 448 KB, 300x400, anticipation.gif [View same] [iqdb] [saucenao] [google]
7994294

>>7993728
?

>> No.7994339

Good job anon, but be careful. Leverage does funny thibgs to a mans brain.

>> No.7994399

OP is LARPing, I literally made this exact same thread yesterday, except he switched "fuck" with "AF" (which makes no sense)

>> No.7994429
File: 86 KB, 640x640, c84e4b94-f08a-447e-9642-abe668443b0c.jpg [View same] [iqdb] [saucenao] [google]
7994429

>tfw i know if i short or long on margin the market will miraculously recover or crash out of nowhere

>> No.7995150

>>7993328
>randomly opening positions without knowing what you are actually doing

nice gambling retard

>> No.7995283

OP may not be lying.

Bitmex is best/only way to make a killing during a bear market. I'd recommend everyone study and fully understand the site before using it. Or even try out the testnet first.

If from America, you need to use one-time VPN to register - but after that can access from any IP. USA residents are not "allowed" on the site.

Good luck bizbros (ref shill for 10% off trading fees for both of us bitmex.com/register/un3D5y )

>> No.7995419

>>7993328
Lmao yeah it's fun, but that will destroy you completely some day soon. Until then enjoy the degenerate gambling!

>> No.7995439

>>7993328
I was gonna do that but was afraid of getting cucked in my sleep, fuck you

>> No.7995543

Lately we've had a lot the Bitmex shills promising surefire returns on margin trades?

Are those lenders fishing for newfags?

>> No.7995565

>>7995283
How do you even do "regular" trade on bitmex?
Do you have to do the opposite action to close a position?
You buy first and then sell?

>> No.7995585

>>7993328
Wait... what?! you almost tripled off just a 5% difference?
USD 10700 - 10200 = 500
BTC 1.40 - 0.5 = 0.9

But you only went 50x off approx 5% = 250% hmm yeah actually that's correct, it's around 230%

>>7993728
WHAT THE FLYING FUCK DID I TELL YOU? GET BACK IN THE KITCHEN
AAAND MAKE ME A REAL SANDWICH. YOU"RE NOT EVEN GOOD AS A WIFE.
Fucking soyboys and traps, you're not even a good woman replacement, where the hell do you belong in this world? freaks of insecurity.

>> No.7995590

>>7995543
People will always look for ways to make money.

In a bear market, it's nearly impossible to make money from trading on Binance/Bittrex/etc. You can't short there, and swing trading isn't as profitable.

So if shit is going down, and you don't want to sit in USD or USDT, then you have to find an outlet where you can take advantage of it.

Bitmex is by far the best platform to long/short major coins on margin as high as 100x (200x if you email them for permission). Yes, you can lose a shitload of money, but you can also make a shitload if you play it smart.

E.g., you know ETC is going to drop like a rock after the fork, and you want to know how to make money off that. You can short it on Bitmex.

Spoiler alert, most of you will lose your first couple deposits because you aren't respecting the warnings. But those of you that make it - gg.

>> No.7995612

>>7993728
newfag detected

>> No.7995626

>>7995590
etc fork when?

>> No.7995648

>>7995565
Yes, to close the position, you do an opposite order.

E.g., if you want to "long" BTC, you buy 1000 'contracts (aka $1000 worth) at a certain price. To close the position, you sell 1000 contracts.

If you sell contracts without owning them, that means you have entered a short position.

So if I think BTC will drop once it hits resistance at $11,100 (which it will), I will play a limit sell order at $11,100 for 10,000 contracts using 10x leverage. This mean's I only need to put capital for 1/10th the amount. So roughly 0.1 BTC, but my position is worth 1 BTC leveraged.

>> No.7995681

>>7995626
Hard to know exact time because it's based on block height. But rough estimate is in 8 days.

Fair warning, I expect ETC to tank hard before then because Calisto is mostly a shitcoin, and people will try to beat eachother to dump - just like what happened to ZCL.

>> No.7995796

>>7993754
HURRR IM A DURRRR

>> No.7996551

>>7995648
And if it goes to $11,101? how much you going to lose?

>> No.7996605

>don’t ask me why
You’re the samefag larping here every day

>> No.7996660

>>7996551
If it goes up 10% (actually a bit less due to insurance for bitmex) he loses all he invested in this position.
So 10x means 10x gains and 10x losses

>> No.7996677

>>7996551

Not sure if serious, but whatevs, I'll ELI5 as best as I can:

If you are using 10x leverage, you would lose 10x more than if you just used cash to buy normally.

So in that instance, assuming I bought 1 BTC leveraged at 10x (meaning I'm only putting up 0.1 BTC in capital), I would lose $1.

To get "liquidated" - which means that I lose my entire position of 0.1 BTC - in the above short example would be if BTC moves to roughly $12,000. A 10% move, leveraged at 10x, would mean 100% of my leveraged position will be used and my position liquidated.

This is why using high leverage is only a good idea for pure gambling - OR short-time frame scalps/swings. Always smart to use stop-loss and take profits when you can.

I know most people think I'm over-explaining things, but I'm trying to be as basic as I can to make sure the newbies get it too. Bitmex can be a powerful tool.

>> No.7996688

I know this thread is a LARP but maybe someone can answer my question. I was under the impression that you can only leverage up to 3.3 x your bitmex wallet balance so what OP said wouldn't even be possible. So say you deposit 1 btc and you open a long with 0.1 btc then the highest leverage you could do would be 33x. Am I totally mistaken or is that true?

>> No.7996691

How do you people not lose all your money? There is no convincing case for a bull or bear run, yet you enter positions anyways. You are literally gambling. Are you people retarded? You certainly are not smart.

>> No.7996697

>>7996551
>>7996677
Oh sorry, misread this. Thought you put $11,001. At $11,101, I would be down $101, or roughly 10% of my position as the other guy said.

>> No.7996721

>>7996688
There are different leverage limits for different coins. For BTC, max leverage is 100x. For special accounts, they allow 200x.

>> No.7996744

>>7996691
I know this is a LARP, but for anyone that takes what you say seriously:

There support/resistance levels that BTC swings from. If you are able to identify those levels correctly (or follow/listen to someone that does), you can make good gains longing/shorting between those levels.

It's gambling in the same way poker is gambling - yes, there is luck involved, but the most skilled will win in the long-run.

>> No.7996760

ITT: retards who will lost all of their stack and then feel like a gambler because they are gambling


100% guaranteed

>> No.7996771

>>7995283
>>7994339

What is leverage exactly?

>>7993328
>>went all in 50x long at $10200

So what does this mean? BTC was at $10200, why did the position close at $10700? I really don't understand shorting and going long on XBT.

>> No.7996795

>>7996721
So if I only have a total of .1 btc in my wallet I can go all in and technically open a 100x long or short? I don't remember where I read that you can only do 100x leverage if you actually have 1/3 that amount in your wallet balance but I'm glad that's not that the case

>> No.7996882

>>7996771
Leverage is basically using your capital to "borrow" more capital. In practical terms, it magnifies your gains/losses by 'x' amount, x being the leverage you use.

If I use no leverage, I am trading at 1x. Basically like buying using fiat from coinbase. My position goes up same % as BTC goes up. I put $1000 in 1x, and BTC rises by 10%, I made $100.

Now, if I use 2x leverage on Bitmex, I am using my $1000 as though it is $2000 - meaning my gains/losses are doubled. So if I put $1000 in 2x, and BTC rises by 10%, I made $200. Does that make sense? You can use leverage up to 100x on Bitmex (not recommended).

So using OP's example, if went in at $10,200 at 50x, his gains would be as such:

Assume $1,000 invested at 50x.

BTC went up roughly 5% (10,200 to 10,700).

He made 5% multipled by leverage of 50 - 250% of his capital. So he made $2,500.

But, if BTC went down below $10,000 at any point while he had his position opened, he would have been liquidated and lost his entire investment of $1000.

(If this is helping anyone and you want to give it a try, I'd appreciate you using my ref bitmex.com/register/un3D5y - and even if you don't use mine, find someones to use because you get 10% off trading fees for 6 months if you sign up under any ref link).

>> No.7996901

>>7996795
Correct. With .1 BTC, you can technically open up a postion of 10 BTC. Not recommended.

>> No.7996977

Can you only margin with btc? Major poorfag here with barely a 0.1 btc port. What's the minimum?

>> No.7997016

>>7996977
Yes, only with BTC, 0.1 is enough.
Also if you are here since less than 6 months don't leverage, it's fore big boys.

>> No.7997082

>>7996977
Here are the coins that Bitmex supports with their respective leverage limits:

BTC - 100x
ADA - 20x
BCH - 20x
DASH - 20x
ETH - 50x
ETC - 20x
LTC - 33x
NEO - 20x
XMR - 25x
XRP - 20x
XLM - 20x
ZEC - 5x

They will likely add more eventually. But keep in mind they can only add coins that have high liquidity, otherwise market manipulation could be too easy.

With a 0.1 BTC portfolio, I'd be careful not putting too much into this. I personally only have 5% of my total crypto portfolio in Bitmex. I consider it very high-risk.

>> No.7997113

>>7997082
To be clear, you can only use BTC to leverage - aka you can only deposit BTC to bitmex - but you can use that BTC to 'invest/leverage' other coins. Bitmex does not actually hold any other coins.

>> No.7997151

>>7997113
this seems fun, thanks for the explanation, used ur ref. Is bitmex the best exchange for margin trading?

>> No.7997204

>>7997151
I definitely think it's the best exchange. Their security is top-notch (very diligent about seperating cold/hot wallet funds). But as always, only keep funds on exchanges that you are actively trading.

Bitfinex allows margin trading too but their limit is like 3x. And I trust them less than Bitmex. OKEx does also, but I've never traded there.

Gdax used to allow it, but they closed it off unless you are one of their whale accounts.

Thanks for using my ref, good luck! And use stop-losses!

>> No.7997640

>>7996882
so if u open a short and a long both for $1000 at 50x
and one gets liquidated u still make a profit
what is the bad part?

>> No.7997676

>>7997640
they would cancel each other out... it's analgous to both buying and selling the same amount at the same time. net gain 0 regardless of price action.

>> No.7997725
File: 32 KB, 720x736, 1519680785138.jpg [View same] [iqdb] [saucenao] [google]
7997725

>>7993728

>> No.7997750

>>7997640
You can't technically open both a short/long on their main perpetual swap contract at the same time. You would have to hedge by opening the opposite position in futures (either March or June), or by opening a second account.

Your liquidation is also not exactly the inverse of gains - there is a couple % buffer.

Sure, you can do that, and usually make a couple % profit. But the one time it doesn't work out for you, you'll lose a shit load.

I think the best comparison I can make is roulette. You can bet both Red and Black, and 95% of the time you'll break-even. To make it a more accurate comparison, lets say I give you 1% rebate of your total bet every time you place a bet. So most of the time you'll make 1% profit. But the one in 36 times (or whatever it is) that it lands on Green, you lose all your shit.

In the long-run, you are risking a lot of capital for not much gains or even a huge loss if disaster strikes.

>> No.7997785

>>7996677
nice reddit spacing faggot

>> No.7997795

>>7997640
you would just lose money due to fees

>> No.7997797
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7997797

hey kiddo, ever heard of forex? you can do over 1500x leverage. x100 moons every hour

>> No.7997996

Very few people, if any, have successful x50's and x100's. That's because the market is so volatile, and the room for error is very small with these leverages. Even x10 only gives you small wiggle room. If the price spikes by 3% on a x100 and you shorted, you're screwed. Considering how volatile the market is....you're gambling, and not in a smart way.

>> No.7998042

Bitmex is for mexicans

>> No.7998086

>>7993328
post proof faggot

>> No.7998116

>>7997996
>File
dude, you can just add to your margin and change your liquidation price.

don't go to bitmex if you want to do anything less than 25x.

>> No.7998235

>>7998116
>Change margin
Yeah but that defeats the purpose of a x25 in the first place. I mean yeah you CAN do it to avert a disaster, but then you might as well do a x10 then.

>> No.7998271

>>7998235
but I thought a little spike in an overall downward trend will get you liquidated, so even if you guess right they can still Jew you. With a larger margin, you can still reap those 100x gains without being liquited by a minor pump.

>> No.7998396

>>7998116
You should just go all-in on lower leverage rather than a portion of your stack on high leverage

>> No.7998408

since we're talking about gambling anyway can you guys recommend a good site to roll dice with crypto?

>> No.7998430

What is the deal with the XBT instrument that is on bitmex? It seems to be the only thing you can withdraw, but where do you withdraw it? Is it compatible with BTC wallets? Is there anyway you can withdraw BTC? Help me i'm a brainlet.

>> No.7998457

Biggest larp ever, you wouldn't be able to sleep when your whole balance is on x50 leverage

>> No.7998464

>>7998430
XBT is the official ticker of Bitcoin

>> No.7998489

>>7998430
Don't listen to retards, it's literally just BTC and can be withdrawn to a BTC wallet as normal.

>> No.7998507

>>7998430
When you withdraw, your XBT is automatically converted to BTC. It's just their own ticker they use, don't overthink it. 1 XBT = 1 BTC always.

>> No.7998545

>>7998457
Don't see why it has to be a larp, OP could just be a retard who got lucky. Don't worry, he'll lose everything if he keeps doing it.

>> No.7998668

>>7998430
X is usually used in tickers that aren't bound to any nationality. XBT is as official as it gets for a ticker for BTC

>> No.7998669

>>7995681
How is Callisto a shitcoin? Legitimately curious. Isn't Callisto trying to aim where Etherium failed with their first dividend token? They're even planning for it to be a value based token.

>> No.7998700

>>7993328
>leveraging crypto
>gambling on gambling
the absolute degeneracy. one bad call and you're liquidated. better pack your bags now while you're ahead

>> No.7998732

>>7998408
>>7998408
safedice.com -- even allows you to get in as an investor

>> No.7998760

Why use bitmex when you can use pyrmex? 2016 is over, grandpa

>> No.7998886

>>7996882
Stop spoonfeeding

>> No.7998890

>>7998732
This site is constantly spammed by margingale bots, how profitable is this? Since you can start extremely small, I don't see why this wouldn't work.

>> No.7998892

>>7998732
Cheers anon, will check it out

>> No.7998937

>>7998886
meh, 95% of people that read will find it unhelpful/repetitive, but it helps some people to break it down.