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Title: A trader's diary - my Bitmex journey Post by: N0sferatu on May 08, 2019, 06:40:29 AM Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. BTC BTC BTC My Bitmex trading diary This is the resumption of my previous thread: Take Profit or keep the position open? (Bitmex) (https://bitcointalk.org/index.php?topic=5127120.0/) Introduction Since i entered the cryptocurrency market back in June 2017, i was always looking for new opportunities to grow my BTC balance. I tried faucets, gambling sites, HYIP's, classical daytrading, social trading, bot trading... basically anything that might generate an outcome. As you might imagine, most of the mentioned methods weren't reliable. I got best results with daytrading, though it seemed hard to understand the market and establish a reasonable trading strategy. Why Bitmex I've only got a small amount of financial assets. The possibility to leverage my positions was the key reason to start trading on Bitmex. About this thread I couldn't find any regularly updated Bitmex trading journal in the forum, so I believe some users here might have an interest in this. There will also be a "Q&A" section since some unusual questions pop up from time to time. I am open to constructive criticism about this thread or its design! Feel free to comment & ask any questions. Strategy & targets "You need to have a solid plan and stick to it no matter what!" - is a phrase you can read in every trading discussion thread here. For me this is only true in theory. The market doesn't stick to a certain plan, neither do I. I just have set some basic rules: applying cost-average effect barely relying on indicators personal overall BTC sentiment: bullish risk management by diversification studying orderbook and in-depth chart regularly reading candlestick patterns limit-orders only no stop-losses* maximum leverage x15* no shorts* *rules are there to be broken! The only target is to grow my BTC balance as high as possible. I will never stop. My entry & exit points are always around certain support / resistance levels that i evaluated myself. All my decisions are based on my own observations. I am checking prices frequently every hour and am able to enter my Bitmex account any time of the day (except when sleeping). I am going to share my open positions,orders & account balance on a daily basis. Starting balance on 26/02/2019: 0.0139 BTC Today's balances: https://i.ibb.co/2nVjHkF/Screenshot-20190601-114510.jpg https://i.ibb.co/6Y3PzqQ/Screenshot-20190601-114325.jpg Profit since the opening of this thread: 0.1276 BTC Profit since the start of my journey: approx. 0.2352 BTC Current ROI > 1650% BTC BTC BTC Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 08, 2019, 06:40:46 AM Q&A section Q: Take profit or keep the position open? (discussion) A: https://bitcointalk.org/index.php?topic=5127120.0 Q: I opened a position last night at x9 leverage. When i woke up, it was at x13. Why? A: If the market doesn't move in your favor, Bitmex needs to adjust leverage so the position size will stay the same. Q: Is it possible to have a 2nd account? A: I have tried this since you can't do two positions in one pair at the time in Bitmex. You can use the referral link from your main account to create your 2nd account to gain a small commission. (Quote from: GreatArkansas (https://bitcointalk.org/index.php?action=profile;u=1164368/) on April 15, 2019, 09:31:56 PM) Also see: Link Bitmex accounts to avoid transaction fees (https://bitmex.freshdesk.com/support/solutions/articles/13000040475-may-i-link-my-accounts-) Q: Why are you not using indicators or stop-losses? A: https://bitcointalk.org/index.php?topic=5140545.msg50947191#msg50947191 Q: Which advice would you give a newbie trader? A: https://bitcointalk.org/index.php?topic=5140545.msg51039900#msg51039900 Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 08, 2019, 06:41:19 AM Daily summary #1 Sentiment: - overall bullish - expecting a correction, lowest point around 5400$ - expecting price swinging between 5700$ - 5950$ Open position: https://i.ibb.co/VxdZPcX/Screenshot-20190509-055501.jpg Active orders: https://i.ibb.co/7zr0gHf/Screenshot-20190508-072030.jpg https://i.ibb.co/GJzWnt9/Screenshot-20190508-072001.jpg Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: My Bitmex Jouney - a trader's diary Post by: butka on May 08, 2019, 06:55:23 AM OK, it looks exciting, I'm in, I'll try to follow your Bitmex journey. I'm also trading on Bitmex, pretty much due to the same reasons as yours. You say you won't be using any indicators. I myself am using indicators only, but I'll gladly follow your trades and try to find some logic in them.
Now, you say you won't be using stop losses, which considering your maximum leverage (15x) could be very risky if you ask me. You would have to rely on the bullish sentiment not being overrun by the bears for this to work, isn't it? Anyhow, I wish you a lot of good luck, in addition to your trading skills. Title: Re: My Bitmex Jouney - a trader's diary Post by: adaseb on May 08, 2019, 07:09:19 AM With Bitmex you need to becareful how and where you set your stop-losses. Basically you should always give room for your stop losses to fill incase there isn't enough liquidity at a certain stop, basically your stop and your limit stop need to be wide.
Also don't put your stops near any important pivots because you will get crazy slippage and your stop will usually fill right at the top and price will usually pull back afterwards. The issue with Bitmex is that many people go 50x or 100x there and its the reason why we sometimes get these $100 1 minute candles with over 40-50 Million in USD volume, mostly they are just stop hunts. Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 08, 2019, 07:27:03 AM OK, it looks exciting, I'm in, I'll try to follow your Bitmex journey. I'm also trading on Bitmex, pretty much due to the same reasons as yours. You say you won't be using any indicators. I myself am using indicators only, but I'll gladly follow your trades and try to find some logic in them. Now, you say you won't be using stop losses, which considering your maximum leverage (15x) could be very risky if you ask me. You would have to rely on the bullish sentiment not being overrun by the bears for this to work, isn't it? Anyhow, I wish you a lot of good luck, in addition to your trading skills. Thank you! :) Why am i not using indicators? I have been trying to trade with indicators like the stochastic RSI, bollinger bands and MACD etc. Those never worked for me - indicators are lagging and are only displaying a trend that has already happended. Some are useful to get some good entry or exit points, though. I am determining those solely backed by the in-depth chart of Bitmex. Why am i not using stop-losses? Using stop-losses for me is like gambling with a martingale strategy but not going for the last rolls (that might eat up your balance). I am confident in the positions i open, so there is no need for a stop-loss. If a liquidation happens, it's fine for me - that's part of my personal risk management. I don't always go for a x15 leverage, currently my position is on x9. It basically displays how confident i am in my current decisions. Very sure = high leverage, unsure = lower leverage. And yep, i fully rely on a bullish sentiment in the long run. :) With Bitmex you need to becareful how and where you set your stop-losses. Basically you should always give room for your stop losses to fill incase there isn't enough liquidity at a certain stop, basically your stop and your limit stop need to be wide. Also don't put your stops near any important pivots because you will get crazy slippage and your stop will usually fill right at the top and price will usually pull back afterwards. The issue with Bitmex is that many people go 50x or 100x there and its the reason why we sometimes get these $100 1 minute candles with over 40-50 Million in USD volume, mostly they are just stop hunts. Thanks for your input! :) You showed me some more reasons why i don't use stop losses at all. Instead, i am just increasing my long position at lower prices to stay away from liquidation. Title: Re: My Bitmex Jouney - a trader's diary Post by: Vispilio on May 08, 2019, 08:33:54 AM I agree with the no stop loss approach as there is a lot of long wicks on Bitmex.
The reward to risk ratio can justify no stop loss trading on a leveraged account, if you adjust your target profits accordingly. Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 09, 2019, 05:39:36 AM Daily summary #2 Current balance updated in the OP. Sentiment: - overall bullish - expecting a correction, lowest point around 5450$ - expecting price swinging between 5830$ - 6050$ Open position: - Filled orders: https://i.ibb.co/mbs1kHb/Screenshot-20190509-055128.jpg Active orders: https://i.ibb.co/198bh4T/Screenshot-20190509-055051.jpg Made a nice profit of around 0.007 BTC again. Even opened a short position from 6130$ before i went to sleep - it didn't get filled overnight so i cancelled it again (highest point was 6095$). Open orders remain the same, still waiting for a correction of up to 10%. Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: My Bitmex Jouney - a trader's diary Post by: traderethereum on May 09, 2019, 01:58:43 PM Did you use an alarm to know if your target price reached?
So far, I see that you already make a nice profit from bitmex. But you still need to be careful because of the market still unpredictable as I see in a few days ago, we saw a flash dump in a moment, but gladly, the price is back to the higher price again. Do you have a percentage of the profit that you want to make it every time you trade? Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 10, 2019, 06:34:06 AM Did you use an alarm to know if your target price reached? So far, I see that you already make a nice profit from bitmex. But you still need to be careful because of the market still unpredictable as I see in a few days ago, we saw a flash dump in a moment, but gladly, the price is back to the higher price again. Do you have a percentage of the profit that you want to make it every time you trade? No, i don't use any notifications or alarms. I just frequently check prices manually. A simple price alarm wouldn't be enough for me at all because it says nothing about the current liquidity. I don't have a specific target price or profit. All my buying- or selling actions are determined by the current market situation and my personal FOMO. ;) Title: Re: My Bitmex Jouney - a trader's diary Post by: traderethereum on May 10, 2019, 01:29:28 PM Did you use an alarm to know if your target price reached? So far, I see that you already make a nice profit from bitmex. But you still need to be careful because of the market still unpredictable as I see in a few days ago, we saw a flash dump in a moment, but gladly, the price is back to the higher price again. Do you have a percentage of the profit that you want to make it every time you trade? No, i don't use any notifications or alarms. I just frequently check prices manually. A simple price alarm wouldn't be enough for me it all because it says nothing about the current liquidity. I don't have a specific target price or profit. All my buying- or selling actions are determined by the current market situation and my personal FOMO. ;) I thought that you are a pro trader so you can find the right price to buy and sell. Still, it's difficult to trade on bitmex especially without having good knowledge in leveraged trading. Thank you for the diary. I hope that you can get success for your journey and keep posting of your journey so we can learn something from you. Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 10, 2019, 01:44:31 PM Daily summary #3 Current balance updated in the OP. Sentiment: - superbullish - expecting an uptrend to 6700$ - expecting price swinging between 6200$ - 6480$ Open position: https://i.ibb.co/hfv28mp/Screenshot-20190510-153010.jpg Filled orders: https://i.ibb.co/GRV7Cxj/Screenshot-20190510-152948.jpg Active orders: https://i.ibb.co/R3dp7jh/Screenshot-20190510-152913.jpg Made a nice profit of around 0.003 BTC. I broke one of my rules and shorted this morning from around 6280$ and closed the position later as i saw the strength of the support. PNL was around 0. Yes, FOMO kicked in. ::) Actually i did expect the support at 6050$ to be weak, but this doesn't seem to be the case. Downward wicks are pretty long, so i assume the power of the bears still remains pretty low. You may notice my withdrawal - i funded my 2nd Bitmex account for another "strategy". Going to add that one in the next days! Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 11, 2019, 09:59:23 AM Daily summary #4 Current balance updated in the OP. Sentiment: - bullish to sideways - expeced price reached! - expecting an uptrend to 6700$ - expecting price swinging between 6600$ - 6980$ Open position: - Filled orders: https://i.ibb.co/C9KVRSd/Screenshot-20190511-114244.jpg Active orders: https://i.ibb.co/smgNK9Q/Screenshot-20190511-114216.jpg Made a nice profit of around 0.009 BTC. Bitcoin is still gowing strong. It broke several resistances in only 48 hours and reached 6985$ at its peak. Wow! It gets harder and harder to predict where the price is going, so i am very careful with my positions. I think we either see a rise to 7800$ in the upcoming days or we're going sideways in the 6300$ - 6800$ range. A greater pullback would require a significant signal before (to my mind!). Today the ROI of my Bitmex journey reached 1007%. Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 12, 2019, 11:38:40 AM Daily summary #5 Current balance updated in the OP. Sentiment: - bullish to sideways - expected price reached - price swinging between 7100$ to 7600$ Open position: https://i.ibb.co/YDwcmFJ/Screenshot-20190512-132155.jpg Filled orders: https://i.ibb.co/9vTkTPb/Screenshot-20190512-132301.jpg Active orders: https://i.ibb.co/nzdYM4F/Screenshot-20190512-132245.jpg Made a profit of around 0.0036 BTC. I messed up a short position AGAIN - another reminder why i should stick to my own rules. ::) I got more confident in the bullish momentum, that's why i built up a greater long position. I think we're going to retest the 7600$ area anytime soon again. The resistance is strong there so we might have reached the top for now. Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 13, 2019, 05:58:15 PM Daily summary #6 Current balance updated in the OP. Sentiment: - bullish to sideways - expected price reached - price swinging between 7300$ to 7900$ Open position: - Filled orders: https://i.ibb.co/9y9qpgS/Screenshot-20190513-181438.jpg Active orders: https://i.ibb.co/sFJ3dh2/Screenshot-20190513-181453.jpg Made a huge profit of around 0.042 BTC! I was able to build up a huge position around the 7000$ in the past 24 hours with my cost-averaging strategy. It really paid off - the biggest profit within a day i had so far! I could have sold my position a little later with higher profit, but that won't bother me. :) Win is win. I am not in the mood to make any prediction about tomorrow, but there are no signs of a reversal. ;) Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: My Bitmex Jouney - a trader's diary Post by: DeathProxy on May 13, 2019, 07:22:10 PM I got rekted once on bitmex, and never do margin trading again. Bitmex is not advisable for newbies, they may end up losing a great deal. I will advice any novice that would want to use bitmex should settle down and learn its basics before Puting in real funds
Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 14, 2019, 05:48:01 AM I got rekted once on bitmex, and never do margin trading again. Bitmex is not advisable for newbies, they may end up losing a great deal. I will advice any novice that would want to use bitmex should settle down and learn its basics before Puting in real funds I also got rekt on Bitmex on my very first try. :) There is an old saw: "You need to get broke 2 times before being able to get rich." Yeah one should always do research before putting in any money. Not everyone is born a trader - you need to be disciplined at first place. But, if a newbie would ask me about important things on how to start, i would tell him:
Everything else is only experience. Title: Re: My Bitmex Jouney - a trader's diary Post by: Gyrsur on May 14, 2019, 12:33:21 PM interesting project! jumped in for updates of you. ;)
Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 14, 2019, 01:21:23 PM Daily summary #7 Current balance updated in the OP. Sentiment: - uncertain (still bullish? / waiting for a correction) - price swinging between 7900$ to 8300$ Open position: - Filled orders: https://i.ibb.co/T86L8G2/Screenshot-20190514-150806.jpg Active orders: https://i.ibb.co/5WPLtxF/Screenshot-20190514-150748.jpg Made a profit of around 0.001 BTC. (it is somehow included in the previous' day PNL) I feel a bit uncertain about the market, so i didn't trade at full risk as usual. Had to clear up my buy orders as they were not reasonable any more. Am still looking for quick profits in the 7900$ - 8300$ area. A correction becomes more and more plausible. I expect a dip in the next days, possibly down to 6800$, but who knows. interesting project! jumped in for updates of you. ;) Cool, thanks for being with me on this journey! :) Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 15, 2019, 08:36:02 AM Daily summary #8 Current balance updated in the OP. Sentiment: - uncertain to bearish - correction to around 6800$ becomes more plausible - price swinging between 7000$ to 7900$ Open position: - Filled orders: https://i.ibb.co/PM1dWPN/Screenshot-20190515-101438.jpg Active orders: - Made a profit of around 0.0034 BTC. My current sentiment got confirmed by the market today. Instead of keeping my position, i sold it now since a correction seems more and more plausible due to the current candlesticks. I also cleared all my buying orders because of this. We failed to retest the 8300$ resistance, instead we're currently testing the 7900$ support over and over. https://i.ibb.co/Q8Qd3Bb/Screenshot-20190515-101412.jpg As you can see in the chart: 2 Dojis followed by a Dragonfly and another Doji, and currently we can see a new red bar forming. If this gets confirmed by additional red candles, we might see a "bearish checkmate". Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: My Bitmex Jouney - a trader's diary Post by: N0sferatu on May 16, 2019, 07:33:19 AM Daily summary #9 Current balance updated in the OP. Sentiment: - bullish - price swinging between 7900$ to 8400$ - expecting a new high up to 8700$ Open position: https://i.ibb.co/QYnMTvg/Screenshot-20190516-090137.jpg Filled orders: https://i.ibb.co/N3ntvDh/Screenshot-20190516-090238.jpg Active orders: https://i.ibb.co/Q9rL3NT/Screenshot-20190516-090159.jpg Made a small profit of around 0.0008 BTC. 2 Dojis followed by a Dragonfly and another Doji, and currently we can see a new red bar forming. If this gets confirmed by additional red candles, we might see a "bearish checkmate". Yesterday's prediction didn't get confirmed. Hooray! ;D Instead, the price jumped back immediately and we did retest the upper resistance near 8400$ later. It looks like the bulls still have enough power to go further. I was able to build up a position near the 8000$ mark again. I am going to leave it open until we hit a new high or if the market seems undecided again. Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 17, 2019, 07:16:24 PM Daily summary #10 Current balance updated in the OP. Sentiment: - sideways - price swinging between 7000$ to 7300$ Open position: https://i.ibb.co/mRV2g9b/Screenshot-20190517-192431.jpg Filled orders: https://i.ibb.co/7pGF3tH/Screenshot-20190517-192527.jpg Active orders: https://i.ibb.co/J5HcHcZ/Screenshot-20190517-192449.jpg Made a loss of around -0.022 BTC. (yesterday's position was liquidated) The market indeed was very undecided before i went to bed. Because of that, i cleared all of my buying orders before - good move, the whole position would have been wiped out by that 6380$ candle this morning! The earlier predicted lower target of 6800$ seem plausible again. I deleveraged my new position to keep me away from another liquidation. Can't tell how low the price may go! Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: bonker on May 17, 2019, 10:42:09 PM It's really amazing trade just came to tell his story and share his experience expected things are not happened while we are trading but at the end it is the way of making the income for me so I am happy to be traded and involved in the cryptocurrency field.
Title: Re: A trader's diary - my Bitmex journey Post by: Mr_Akbar on May 17, 2019, 11:02:38 PM The drop down on Bitmex was pretty wicked, whole place locked up for liquidation after liquidation.
I happened to be in a short down from 7800, I expected a drop but that was something else. Love the volatility! Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 18, 2019, 10:13:35 AM It's really amazing trade just came to tell his story and share his experience expected things are not happened while we are trading but at the end it is the way of making the income for me so I am happy to be traded and involved in the cryptocurrency field. The drop down on Bitmex was pretty wicked, whole place locked up for liquidation after liquidation. I happened to be in a short down from 7800, I expected a drop but that was something else. Love the volatility! Exactly, the volatility and corresponding possibilities to make an extra income are an amazing thing. Though a more stable market would probably attract more 'traditional' investors and therefore increase the cash flow exponentially! Nice to see you were able to make a profit from the sudden drop! :) I'm currently waiting for clear signals. Until then, I will probably just keep the position open. Risk management is one of the most important things as a trader - having patience is key to success. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 18, 2019, 03:58:49 PM Daily summary #11 Current balance updated in the OP. Sentiment: - sideways to bullish - price hovering around 7300$ Open position: https://i.ibb.co/F44qq9B/Screenshot-20190518-174843.jpg Filled orders: https://i.ibb.co/7pGF3tH/Screenshot-20190517-192527.jpg Active orders: https://i.ibb.co/J5HcHcZ/Screenshot-20190517-192449.jpg Made no profit or loss today. As you may see, my filled & open orders haven't changed since yesterday. I'm taking a little break on weekends - especially in market situations like we're currently in. ::) The 8000$ mark has already been a barrier several times in the past, so i guess we're going to need some time to break it. The candles are looking a little more bullish again, but this needs to get confirmed in the upcoming days. Until then, i'm going to slowly grow my position and probably increase the leverage again. Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 19, 2019, 02:39:22 PM Daily summary #12 Current balance updated in the OP. Sentiment: - sideways to bullish - price swinging between 7900$ to 8100$ - possible peaks to 8500$ Open position: https://i.ibb.co/SJJSm5W/Screenshot-20190519-162945.jpg Filled orders: https://i.ibb.co/93pqLYr/Screenshot-20190519-163019.jpg Active orders: https://i.ibb.co/3dC1Qjy/Screenshot-20190519-163005.jpg Made a profit of 0.012 BTC today. Pretty unexpected sudden rise again. Was very happy to stand up this morning. :D Took the profit and re-opened a position. It's possible that we're going to hover around the 8000$ mark for some days again, so i believe there will be some trade opportunities in the next week. I am going to reveil my 2nd Bitmex account in the upcoming days! Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: Vispilio on May 19, 2019, 02:53:35 PM this is turning out to be an impressive thread, I'll be checking back regularly...
The recent downswing to 6380 was wicked on XBT, to be a discretionary high frequency trader and to succeed in controlling your loss to eventually come out ahead through those circumstances shows good strength in your trading, well done. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 20, 2019, 05:32:22 AM this is turning out to be an impressive thread, I'll be checking back regularly... The recent downswing to 6380 was wicked on XBT, to be a discretionary high frequency trader and to succeed in controlling your loss to eventually come out ahead through those circumstances shows good strength in your trading, well done. Thank you for your kind words. :-* Allthough i could have done better! What a great journey... Anyway you survived. Besides, do you have any idea for eFintech.life which provides macro-level arbitrage?Thank you! I have never heard about this website and a quick search shows poor reputation. There are almost zero reviews and arbitrage opportunities in general seem to be a hoax. I wouldn't put a penny into this - but better do your own research. :) Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 20, 2019, 02:10:09 PM Daily summary #13 Current balance updated in the OP. Sentiment: - sideways to bullish - price swinging between 7600$ to 8100$ Open position: https://i.ibb.co/6YHVVPs/Screenshot-20190520-155545.jpg Filled orders: https://i.ibb.co/kSjh4fw/Screenshot-20190520-155621.jpg Active orders: https://i.ibb.co/G5Y7JBt/Screenshot-20190520-155600.jpg Made almost no profit or loss today. Neither my sell order at 8346$ nor my buying order at 7540$ have been triggered. So close, yet so far! ;D As the market wobbles, i am building up my long position. I decreased the leverage - just to be sure it won't get liquidated that easily. I see the current situation as a good opportunity to buy in - i'm still expecting new peaks & highs in the next days. Not much power from the bears so far. Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: Gyrsur on May 21, 2019, 09:58:40 AM keep up the good work! ;)
Title: Re: A trader's diary - my Bitmex journey Post by: eternalgloom on May 21, 2019, 10:16:12 AM Really interesting to follow and looks like you're doing pretty good actually!
Just don't end up like that one guy who lost his life savings on Bitmex and posted about it on 4chan, that thread was a complete trainwreck :P Link if anyone's interested: http://boards.4channel.org/biz/thread/13581019/this-cant-be-happening Title: Re: A trader's diary - my Bitmex journey Post by: Indamuck on May 21, 2019, 12:26:50 PM Congratulations on your current profits and I'll admit I'm kinda scared to trade on Bitmex. I've seen too many people lose it all with high leveraged positions. I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times.
Title: Re: A trader's diary - my Bitmex journey Post by: dark08 on May 21, 2019, 01:25:46 PM You made a good trade OP from the start until now I see some losses but not huge one, I'm always follow your day trade by the way I'm no longer trading/visiting Bitmex since the last time I got liquidated but when I see your day trading I'm inspire to back in margin trading but its risky to make a 10x leverage Im going to cross trade.
Title: Re: A trader's diary - my Bitmex journey Post by: 1Referee on May 21, 2019, 02:02:39 PM I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times. Is the manipulation you're referring to their in-house trading/market making? It's pretty odd for sure, but I honestly believe that most exchanges trade against their users. It's unethical in my opinion because of the advantage they enjoy over the rest, and that in every possible way, but since there isn't much oversight from regulators, exchanges have all the freedom they need to continue doing this. As for Bitmex having to deal with slippage, that applies to every single exchange in crypto. Bitmex's books tied to the main trading pairs enjoy the highest level of liquidity in the space. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 22, 2019, 06:10:53 PM Daily summary #14 & 15 Current balance updated in the OP. Sentiment: - sideways to bullish Open position: https://i.ibb.co/2sHj8vD/Screenshot-20190522-200304.jpg Filled orders: Nothing has changed. Active orders: Nothing has changed. Made almost no profit or loss the last 2 days. Sorry for being absent a whole day! I was a little busy lately. As the market is still moving in a very tight range, I don't feel comfortable to trade or close my position. I prefer to wait for the next move. Tomorrow there will be a more detailed summary again. :) Thanks for joining me in this journey @ all! Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 23, 2019, 11:51:47 AM Daily summary #16 Current balance updated in the OP. Sentiment: - sideways to bearish - price is building up stronger support zones Open position: https://i.ibb.co/HHvJLL2/Screenshot-20190523-133937.jpg Filled orders: https://i.ibb.co/3FnTMz4/Screenshot-20190523-134009.jpg Active orders: https://i.ibb.co/THhS4nS/Screenshot-20190523-133953.jpg Made a loss of about 0.0006 BTC over the past days for maintaining my position. The price is still going down slowly. My buying order got filled this morning - i decided to clear the remaining ones and instead decrease my leverage again, in case any major downwards movement happens. This seems more safe to me in the current market. My position is going to play out with the next bigger green candle, so i'm not worried. keep up the good work! ;) Congratulations on your current profits and I'll admit I'm kinda scared to trade on Bitmex. I've seen too many people lose it all with high leveraged positions. I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times. You made a good trade OP from the start until now I see some losses but not huge one, I'm always follow your day trade by the way I'm no longer trading/visiting Bitmex since the last time I got liquidated but when I see your day trading I'm inspire to back in margin trading but its risky to make a 10x leverage Im going to cross trade. Thank you all! :D Well Bitmex is not that scary if you start with a very small leverage like x2 or x3. BTC would need to drop 33% (or 50% @ x2) to get your position liquidated. It's definitely worth a try! Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 24, 2019, 02:23:02 PM Daily summary #17 Current balance updated in the OP. Sentiment: - expecting any major movement in the next 24h - overall bullish Open position: https://i.ibb.co/3BRzXHy/Screenshot-20190524-160818.jpg Filled orders: Nothing has changed. Active orders: Nothing has changed. I didn't make any profit or loss today. Quote My position is going to play out with the next bigger green candle, so i'm not worried. So, here we are again - back at the 8000$ support zone. The market is behaving as expected now, so i'm just waiting to sell my position at the best possible price. I don't want to go to deep into technical analysis (as it's only a small aspect of my trading strategy), but i'd like to share my idea on this one: https://i.ibb.co/wwj1mNX/Screenshot-20190524-124419.jpg As you can see, we're currently moving around the upper zone of the Bollinger band, which is usally interpreted as a signal to sell. Actually i believe it works differently. The Bollinger Bands are lagging just like any indicator, so it just shows what has already happened. So, the band is formed by the trend of the price, not vice versa! Also, the band is squeezed currently, so i'm expecting any major price movement to get it inflated again! Happy trading & thanks for following! :) Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: Gyrsur on May 24, 2019, 02:33:10 PM Profit since the opening of this thread: 0.0592 BTC Profit since the start of my journey: approx. 0.1668 BTC Current ROI > 1200% Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. [/center] TOP!! have a nice weekend. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 25, 2019, 06:46:46 AM Daily summary #18 Current balances updated in the OP. Profit & ROI updated. Added 2nd Bitmex account! Sentiment: - overall bullish - price swinging between 7950$ to 8150$ - still waiting for greater movement Open position: https://i.ibb.co/Fg853Z7/Screenshot-20190525-081151.jpg 2nd account: https://i.ibb.co/nb18YTh/Screenshot-20190525-081345.jpg Filled orders: https://i.ibb.co/kXnt0pK/Screenshot-20190525-081220.jpg Active orders: https://i.ibb.co/DQr25Kw/Screenshot-20190525-081205.jpg Made a profit of 0.0018 BTC today. Bitcoin is still struggling to rise to new yearly highs. Though i see no signs of reversal, so my sentiment remains bullish! I took some profits. Didn't change the leverage and am not going to increase my position size at the moment. Today is the day! I added my 2nd Bitmex account, which was funded with 0.03 BTC by my primary account on May 10th! You may notice my withdrawal - i funded my 2nd Bitmex account for another "strategy". Going to add that one in the next days! This account is part of my risk management. Probably the most important aspect for any trader, broker etc. For me, it is the ultimate response to the question: Take Profit or keep the position open? (Bitmex) (https://bitcointalk.org/index.php?topic=5127120.0/) Most of the time i am going to keep my positions open until my unrealized PNL gets extraordinarily high. My leverage will usally be lower compared to my primary account. I also opened a ETH/USD position for diversification! Until now, i was already able to double the balance! Thank you! Updated! ::) Current ROI > 1400% Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 25, 2019, 08:47:07 PM I am getting really excited about the next days!
My personal sentiment is pretty bullish for some days now - and seeing multiple different TA's confirming this usually is a positive sign. In my chart, you can see that we're completing the triangle anytime around 29th May. See that top of the upper band? It's near the 9000$ mark, which will probably be the next target price. Volumes are also constantly going up (over a longer timeframe), which is a bullish sign as well! https://i.ibb.co/T1DHTCN/Screenshot-20190525-223553.jpg Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 26, 2019, 10:08:10 AM Daily summary #19 Current balances updated in the OP. Sentiment: - overall bullish - price swinging between 7950$ to 8150$ - still waiting for greater movement Open position: https://i.ibb.co/rQWjH0q/Screenshot-20190526-113900.jpg 2nd account: https://i.ibb.co/LnmF6YT/Screenshot-20190526-113727.jpg Filled orders: Nothing has changed. Active orders: Nothing has changed. Made no profit or loss today (except for funding fees). Not much to say today as the market hasn't moved yet. Funding fees are slowly eating up my balance, i might consider to do something about it! ;) As some of you probably already know, there is a strong correlation between the Bitcoin price and its search volume on Google: past 7 days past 12 months https://i.ibb.co/PWJYr46/Screenshot-20190526-112930.jpghttps://i.ibb.co/8DN7wSd/Screenshot-20190526-113359.jpg Those graphs are confirming both, the current consolidation phase as well as the strong upward movement in price since March. Actually i didn't expect the connection to still be so substantial, as the current run seems to be initiated by institutional investors unlike 2017! Diversification applies to every aspect of trading, also analysis! :) Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 27, 2019, 02:35:38 PM Daily summary #20 Current balances updated in the OP. Sentiment: - overall bullish - price swinging between 8600$ to 8900$ Open position: https://i.ibb.co/C55ywg0/Screenshot-20190527-162355.jpg 2nd account: https://i.ibb.co/02yP44g/Screenshot-20190527-162231.jpg Filled orders: https://i.ibb.co/gPBrmHJ/Screenshot-20190527-162426.jpg Active orders: https://i.ibb.co/KD3r1rb/Screenshot-20190527-162412.jpg Made a nice profit of 0.026 BTC today! Finally Bitcoin made the expected upward movement! It happened right before i went to bed - was still able to take some quick profits and re-arrange my open orders. Still keeping the position of my 2nd acc, as i'm expecting another pump beyond the 9000$ mark soon. Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 28, 2019, 09:50:28 AM Daily summary #21 Current balances updated in the OP. Sentiment: - bullish - price swinging between 8700$ to 8900$ Open position: https://i.ibb.co/vHNfLgj/Screenshot-20190528-104903.jpg 2nd account: https://i.ibb.co/kDJdj5M/Screenshot-20190528-105054.jpg Filled orders: https://i.ibb.co/r21kLLM/Screenshot-20190528-104950.jpg Active orders: https://i.ibb.co/5MrgzJq/Screenshot-20190528-104926.jpg Made a small profit of 0.0006 BTC today. Nothing much has happened over the past 24 hours. Price range is very tight again; overall Bitcoin still behaves bullish. I can see no signs of a reversal or correction. The funding rates are still pretty high, so i'm currently rethinking the maintenance of my 2 positions on my 2nd account. Lost 0.001 BTC today due to that. Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 29, 2019, 12:15:11 PM Daily summary #22 Current balances updated in the OP. Sentiment: - bullish after consolidation phase - price stagnating Open position: https://i.ibb.co/Ssf2Rt4/Screenshot-20190529-135613.jpg 2nd account: None. Filled orders: https://i.ibb.co/G2zm4VS/Screenshot-20190529-135739.jpg Active orders: https://i.ibb.co/s5F5TDW/Screenshot-20190529-135629.jpg Made a profit of 0.009 BTC today. Quote The funding rates are still pretty high, so i'm currently rethinking the maintenance of my 2 positions on my 2nd account. Lost 0.001 BTC today due to that. As a consequence, i closed both positions with profit. Need to create a new strategy for the 2nd account as long as funding rates are still that high: https://i.ibb.co/8jLbt0J/Screenshot-20190529-124337.jpg This, and the long downward wicks (see chart) after the last pump lead to the conclusion that we're consolidating again. So, the next upward movement probably is just some days away! https://i.ibb.co/jLbm19T/Screenshot-20190529-123838.jpg The position in my primary account is building up in size again. I'm pretty sure we're not going to see a price below 8500$ anytime soon again. Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 30, 2019, 03:33:24 PM No daily summary for today as I'm taking a break. :)
Will include today's report in my post tomorrow. I'm absolutely bullish as it looks like we're completing the next flag soon again: https://i.ibb.co/Q6qGRZj/Screenshot-20190530-095628.jpg Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on May 30, 2019, 04:34:20 PM I'm absolutely bullish as it looks like we're completing the next flag soon again Well, that escalated quickly! ::) https://i.ibb.co/ySND89K/Screenshot-20190530-183102.jpg Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on June 01, 2019, 10:01:08 AM Daily summary #23-25 Current balances updated in the OP. Sentiment: - bullish - awaiting another test of the 9200$ area - price swinging between 8400$ to 8700$ Open position: https://i.ibb.co/MSqkHrs/Screenshot-20190601-114407.jpg 2nd account: https://i.ibb.co/L8CYFMs/Screenshot-20190601-114223.jpg Filled orders: https://i.ibb.co/RPc5y6T/Screenshot-20190601-114428.jpg Active orders: None. Made a small profit of 0.001 BTC over the last days. I was able to sell a small portion of my position during that sudden rise to 9200$. Didn't sell much as i expected the price to grow even stronger. That unexpected dip suddenly after triggered some buying orders, so now my position size is at a very reasonable level. Quote I'm pretty sure we're not going to see a price below 8500$ anytime soon again. Well, failed hard on this one. ::) But that's trading!Today i played around with some trend lines just for fun; and to visualize my next expectations: https://i.ibb.co/VHvt95C/Screenshot-20190601-113841.jpg Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Title: Re: A trader's diary - my Bitmex journey Post by: ginobitcoiner on June 01, 2019, 02:10:14 PM I am very impressed with your expertise in trading in the current market conditions that you have been able to choose excellent tokens for trading, you have proven that daily trading is still the best choice, provided we choose the right token and exchanger in trading.
Title: Re: A trader's diary - my Bitmex journey Post by: N0sferatu on June 12, 2019, 06:38:53 AM I am very impressed with your expertise in trading in the current market conditions that you have been able to choose excellent tokens for trading, you have proven that daily trading is still the best choice, provided we choose the right token and exchanger in trading. Thank you very much for your kind words. :) UPDATE 12/06/2019 I'm currently recovering from a disease (nothing to worry about though). Therefore i was not in the right state for trading or creating new daily summeries here. I am going to resume this journal as soon as possible. Thanks for understanding and being with me on my journey! :) Title: Re: A trader's diary - my Bitmex journey Post by: Gyrsur on June 23, 2019, 10:06:05 AM I am very impressed with your expertise in trading in the current market conditions that you have been able to choose excellent tokens for trading, you have proven that daily trading is still the best choice, provided we choose the right token and exchanger in trading. Thank you very much for your kind words. :) UPDATE 12/06/2019 I'm currently recovering from a disease (nothing to worry about though). Therefore i was not in the right state for trading or creating new daily summeries here. I am going to resume this journal as soon as possible. Thanks for understanding and being with me on my journey! :) get well soon! |
