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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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9257167 No.9257167 [Reply] [Original]

>tfw you just learned how to BitMEX and put in a 10x long on BTC with your whole stash

>> No.9257194

>>9257167
Where is your lilquid line?

>> No.9257206

>>9257167
you're gonna learn how to liquidate your position in a few hours

>> No.9257226

>>9257206
No way, BTC is king and my margin is wide enough to get me through any of the ol dipperidoos we've been having lately

>>9257194
Why should I say? Don't want to get whalesniped kek

>> No.9257230

>>9257167
Everybody can earn in a bull market. But the real traders can earn in a bear market.

>> No.9257233
File: 1.99 MB, 332x215, 1522406829769.gif [View same] [iqdb] [saucenao] [google]
9257233

>trading on margin

MFW you get liquidated

>> No.9257238

>>9257167
dont do it for the love of god BitMEX will conveniently become overloaded just as youre about to sell to cut losses, liquidating you, or ever worse sometimes just liquidate you out of the blue even with hundreds of dollars to your liquidation line, support is absolutely fucking useless also, please don't make this mistake, i barely managed to break even after experiencing these things and now i tell everyone to stay the fuck away, just wait for a better platform man, its not worth it

>> No.9257261

>>9257238

Wait what, mind elaborating? What if you just go 3-5x, that's pretty safe

>> No.9257269

>>9257238
I can set a stop to prevent that though right? How exactly do I do that?

>> No.9257300
File: 132 KB, 1154x362, Screenshot_41.png [View same] [iqdb] [saucenao] [google]
9257300

>>9257269
Stops dont always trigger, their platform is so backwards and fucked in times of overload market orders can fail to trigger, but as soon as you reach liquidation the order will go through immediately....

>>9257261
I was at 8x leverage, liquidation was at 9k, image shows where i got liquidated

>> No.9257316
File: 14 KB, 392x92, Screenshot_38.png [View same] [iqdb] [saucenao] [google]
9257316

>>9257300
bundled liquidation value, I was at a 40% loss at that point, and has set a stop loss at a 20% loss, but it never triggered

>> No.9257318

>>9257261
bitmex tends to 'screw up' during critical moments
>>9257269
maybe you dont want to prevent loses but close your position right fucking now to take profits, but bitmex 'overloads' and by the time you get in you're in 0 profit or even negative.
Honestly fuck that website, wish i never heard of it

>> No.9257331

>>9257316
It even says my liquidation was higher than it actually was, they fucking change it whenever they want, then trigger it anyway if it doesnt go their way

>> No.9257376

>>9257300
>>9257318
So should I even set a stop?

>> No.9257431

>>9257376
you should fucking get out and never, ever, ever go on there again, for all the shit finex gets it doesnt fuck up as monumentally as mex (sure it has lower lev but at least you wont loose the fucking lot on the whim of bitmex's CTO), please don't make the same mistakes I did, mex fucking ruined me and I barely got back out even, its not just not worth it at all.

>> No.9257459

>>9257376
you will lose all your shit on the longrun, trust me, stay away from it

>> No.9257495

>>9257431
>>9257459
You guys are starting to scare me a bit... I'm looking at the 1h chart for their settlement contract and it looks like there was a nasty down-wick early yesterday. But I don't see it on any other exchange's 1h chart. Does stuff like that happen on BitMEX all the time?

>> No.9257549

>>9257167
I hope your TA is good and that you use stop losses to limit the damage bad guesses do.

>> No.9257553

>>9257495
Bitmex does whatever the fuck it wants to, bots get the priority so hyperfast movements like that are common and liquidate people all the time, at least once a day if not every few days a huge wick comes in to liquidate everyone and then the price goes back to normal, I am trying to scare you, this is not a good platform and you need to GET OUT

>> No.9257599

OP shorted you fucking idiots, hes trying to bate people.

>> No.9257601

They also cut your trades for no reason
Shorted xrp when the dump was obvious 2months ago
I was in significant gains then something decided to take profit without even notice me
I 'm still on bitmex to learn trading, very succesful so far but don't forget to take your profits

>> No.9257852

>>9257601
What would you recommend for trading strategies? Obviously I'll take profit once we're over 10k, but do you take profit in increments? How much per increment?

>> No.9258192

>>9257553
actually, people starting out tend to be successful but once you're making buck, they'll fuck your shit up. I did a few trades there, and never looked back again.

>> No.9258313

>>9257495
Fuck i saw this too yesterday. Happened around 0000 gmt.

>> No.9258330

>>9257553
What to trade on then?

>> No.9258422
File: 40 KB, 1827x144, feelsgoodman.jpg [View same] [iqdb] [saucenao] [google]
9258422

>>9257167

>> No.9258480

>>9258422
Nigger, is this like a 1.5X leverage for BTC? How is the liquidation price so low for an entry at 7k?

>> No.9258512
File: 28 KB, 693x194, position.png [View same] [iqdb] [saucenao] [google]
9258512

>>9258422
Nice, I screenshotted mine when I started this thread. GL bro

>> No.9258528
File: 288 KB, 893x927, dunnolol.jpg [View same] [iqdb] [saucenao] [google]
9258528

>>9258480
>he thinks I know what I'm doing
nigga. I just deposit 1btc and long 100,000 contract then close some and open some more on other contracts.
I think it's due to fact it uses realize profits as a leverage so liquidation is lower once I realize more profit.

>> No.9258534
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9258534

>He longed at the literal highest point of a massive double top
Unreal how stupid /biz/ is. Never ceases to amaze me.

>> No.9258555

>>9257269
>Doesn't know how to stop loss and is margin trading

Das absolute state

>> No.9258663

>>9257167

So you FOMO long at the top of this rally, and then brag about it on /biz/?

Doing exactly what the whales want you to do...

Best of luck, but you better watch that shit closely. Closely.

>> No.9258673

>>9257226
>Why should I say? Don't want to get whalesniped kek
smart guy

>> No.9258773

>>9257226
Nigga you 10X longed at around 0030 gmt, market was at around 9720. So you liq price is around 8750.