Bitcoin Forum

I will start lets say 0.1 BTC as a deposit and Open a long or short position with enough Leverage and a Stop Profit taking so i am getting liqudated or taking profit when price moves X amount either way. Example would be, Long now @ 8000 get liqudated if it hits 7800 or take profit if it hits 8200 first.

If i win, i will just put all of it again, as the stakes increase i will probably go less crazy with leverage and look at it as long term thing. So lets say 10 BTC is on line at 8k, i would want to get liqudated at 6500 or take profit @ 9500.

Obviously most of the times, i will lose after couple of wins (if that) and happy to just keep adding 0.1 btc every time i lose. I don't have a stop loss in mind, but i would let the forum know if its becoming boring and i am tired of losing. My strategy for beginning is just gamble it away and then eventually if its decent amount, i would stick to "Trend is your friend".

Creating separate account now and Depositing now.

Deposited $500 worth BTC (0.06194)

1st bet is in, 26k short @ 8000
Liqudation @ 8101
Profit taking @ 7900

Attempt - 1

Winnings in row - 0
Profit/Loss so far - 0

https://i.imgur.com/H1CwA0j.png

Got liquidated, couple of hours after opening Short position.

Just deposited another $500 worth (0.0619) BTC.

Attempt - 2

Winnings in row - 0
Profit/Loss so far -0.06194 BTC

Shorting again, just recently it went up a few hundred in last few hours, should slow down.

https://i.imgur.com/maib4HH.png

I don't really like leverage trading, although this method can maximize profits, but the risk is very large, in trade requires good mental psychology, so you have to play casually and not be greedy, but if you already feel comfortable with trading leverage, just continue your trade, because every trader has a different strategy.

Haha I personally love it as long as you can afford the reloads :D This should be funny a bit longer than standard Martingale approach. What is your reasoning for picking entries? Also what is the $$value where you stop and go holding? Should be very enjoyable to follow this thread and I wish you big double^n up!

In the beginning, when its small amount at stake, the reason is same as it would be when picking red or black on roulette table, just go with the gut. When it gets bigger stakes, i will start looking at short term support and resistant. Generally i am bulling long term on bitcoin, so if it gets insane stakes, i will mostly be going long with a lot less leverage.

I do not consider this as trading, its more of gambling and speculation kind of side fun activity, unfortunately no casinos nearby. Personally i have never understood the hate for leverage, if used right. I mean whats 2X leverage? You don't think you can utilize those extra funds somewhere else?

Awesome, I'm excited to watch some high leverage gambling. What is this you're using, 80x?! :o


Brutal, you got liquidated on that momentary spike to $8,295 right? This is why I can't deal with leverage that high. The whipsaws liquidate you and then a couple hours later the market is back near your take profit. :P


How do you define "trend" in your system? If a short trade wins, you enter another short?

I don't know, i just looked at my balance and was ok with $100 either way, i think i am going to just do that for a while, untill the balance grows. Sooner or later it will. I heard this famous saying few weeks ago and i am in love with that, it goes something like this "The market can stay irrational, longer than you can stay liquid". Love it! I dont think we are there yet though, plus the market isn't irrational.


Yes, that was pretty Brutal... after that trade i went to watch movie with the Mrs, half way through the movie i saw a notification that bitcoin went above $8280, i checked live price after couple of minutes and it was below $8200 and i was like, FUCKKKKKKk


Not trend of my bets, i meant general trend of the market. In this given chart, if i was making a trade, i would go short where the trend downards, but this comes in play much later in the game when liqudation and profit taking is at least $1000 or so away from the entry price

https://i.imgur.com/9lOS08X.png

i am sure you all know, last trade got liqudated shortly after trade, it was a spike and came right back to our profit taking but oh well

anyways, deposited another $500 (0.06162 BTC)

BTC just feels like in a no-mans land for last 48 hours so not getting in a position, if it goes below 7900 and stays there for few hours, i will go long... if its over 8200, i will short, over 8400 definitely short, perhaps 100X too

That's too bad :( GL with the next one.


This is what makes this thread so worth it. Not just another degen, but someone who knows how to have some fun and is not afraid to take it :D As i said many times these forums, leverage is just another tool. You can use it or you can use it.. It's you and how you do it that makes the difference.

OP, save your coins, and don't waste your time. The market is full of traders who are better than you. It would be better to HODL and forget in my opinion. 8)

I think it would be actually useful to compile a list of traders who have the courage to publicly disclose their trades and evaluate their performance against each other... Anybody aware of similar attempts in the past?

But if we keep HOLD and doesn't make any analysis we will still not better that those traders forever, it our choice to play safe or become experienced and surpass those traders that better than us right now. Losing is okay if we learned something from our loss

How do you know i am not better than those at something else in life and that allows me to gamble some money and speculate? I never said i am good trader and do not intend to beat the market. The word "Gambling" is in Heading for all its worth.

you cant definitely find a good trader who can trade for you :/

why waste money

If there's anyone willing to make such trades right here in the thread, i am open to those. Watching someone make you money sounds fun. I am not interested in Pms or chats about this, all conversation must happen here in the thread. Profit taking for the trader has to be after a decent volume (at least 100 trades). Variance is such a bitch, can't pay just because someone had a good run.

You are like walking in a place you don't even know, at night, without any lights and you are just waiting to fall into a cliff then let the almighty God decides what is good for you, that is suicide. It is a good tactics for a beginner, you know, to experiment things out and find out what suits for you and polish it, but this is way too risky, I tell you, rather than risking it all in this tactic of yours, hold your bitcoin after you buy in a dip and wait while you are studying more about Trading.

i don't even want to reply to this, but i will because its a new thread and more people need to re read this.

what makes you think $500 couple of times a week is risking it all?

you need to re read this and understand, i am not trying to be a trader, i am not claiming to be smart and i understand the risk (100% money can be gone). You are making it sound like, i can lose more than what i deposit.

Let the amightly god decide blah blah blah is making it sound like i m gambling with my life's savings.

Man! people are broke (How do i say that without sounding like a douchebag?)

Don't let them discourage you from your goal ! :D any update? did you finally bet on anything or waiting for the situation to solve one way or another? Price range is tightening quite a bit so we should expect some stronger moves by the weekend. Also, quite curious, what is your background? Poker or smth else?

interesting how to came to conclusion of poker (perhaps from my variance comment) i do have a poker background, i was never a winning player, always played stakes bigger than my level. I would beat an average home game without a problem but most of the games i play are full of regs and ultra high stakes.

My full time gig is real estate in various countries and btc arbitrage. I also have couple of crypto related companies that i do not wish to disclose here to keep myself somewhat anonymous.

I have been busy last 24 hours so haven't made a trade, but should have a trade in next few hours. Leaning towards a short at around 8600, these quick rallies usually correct in bitcoin.

Gambling or trading is very risky, and many people want to explore this, some of them are making a lot of knowledge before entering into the world of trading and gambling after they think they are enough or ready now to make a trading and gambling in the real life, make sure they have an initial investment because not all the time we are learning base on the textbooks and read in the internet, and also it is better if we are trying those trading and gambling too. In trading sometimes there is an initial deposit before you make your trade. In gambling, there is a minimum amount before you can play in different games. Even we are winning and losing, it is hard to stop playing and trading because it can give unexplainable happiness to us. Still, it is better if we can control our selves to avoid losing too much money.

Just general awareness of what gambling actually IS and what it IS NOT and your motives and risk/reward understanding. It made be suspicious you played poker or at least was into betting of some kind before. Obviously real estate business + other companies can give you some money handling experience as well and now I get a complete picture ^^ thanks for the answer

None in the forum. The traders that actually make money don't post in the forum, and the plebs that desire to be "rich through trading" are eaten by the traders that actually make money.

This is probably describe as addiction. Its really an income generating activity. But we all know that it also include great risks. For small time trader/gambler its maybe a little happiness especially when you earn in the first and succeeding attempts. Nevertheless, maybe this is only for those with huge or exceeding funds and the high-risk takers.

Attempt - 3

Winnings in row - 0
Profit/Loss so far -0.123885 BTC

Potential loss in this trade - 0.06162 BTC

Got in at 8480 as a short position, This is very close a new high in last 56 Days or so. I like this position a lot

https://i.imgur.com/h6uuh2y.png

By definition addiction is inability to stop doing or using something. I feel pretty good about stopping this and never doing it again if i want to. How about we describe this as a "fun activity/hobby" that gives me joy. Too much?

Closed this at market @ 8556 not that it matters but it was clearly heading towards liqudation. As i type this, it hit liqudation price on bitmex, so saved few pennies.

Loss in this trade is 0.03472514 BTC
Profit/Loss so far -0.15861014 BTC
Balance in account 0.0269 BTC

Going to fuck around with this balance before making a deposit.

Your trading strategy has a problem, first as you mentioned the rate of profit on your risk is 1: 1, if your win and loss ratio is also 1: 1, then you will lose money. Because of the transaction fee. Your second problem is that you use all your profits if you win to continue.

Now that your 3rd attempt has probably failed, you seem to be a anti-trend person. You are thinking that the win and loss ratio will be 50% win and 50% lose, but in reality you can continuously lose until you run out of money to win.

For these small deposits, i really didn't want to put a lot of thought into it. My original idea of following the trend comes in place when stakes are much bigger.


Now that seems highly unlikely, but we will see

I see your psychology now looks like gamblers, you're not keeping calm and constantly making judgments. I used to have margin trading and used to be psychologically like you, then my result was big losses. I know that margin trading is profitable but it is also very risky if you are unable to manage your psychology well. just want you to calm down and make more judgments, because now the market is growing and Short only brings death. Don't try to go against the trend.

It really looks like you went to gambling first before trading.  ;D

It is like having another self.
When you are in gambling you should do this and that and then rest.
Way different when it comes to strategies in trading. There you could still save something unlike with the gambling method.
I wont confuse the two if I were you.

Point taken

I think gambling have two option loss and profit, with trading maybe you opinion like gambling but is wrong although your coin have lower price but you still have balance and could sell with lower price, if gambling when your prediction is wrong you have loss your money and never have holding words with gambling.

Hi there OP, gonna play some more or you got bored with it?

had to go to Thailand for some poker, back now... should play more

Attempt - 4

Winnings in row - 0
Profit/Loss so far -0.123885 BTC

Potential loss in this trade -0.0258

Got in at 9457 as a short position

https://i.imgur.com/OPtP6oU.png

Liqudated.

I think the only way to beat the market is by increasing the stakes.

Double deposits from next bet.

If anyone's' waiting for more action, i am sorry... work and family has been taking toll and its hard to login to bitmex from some countries i keep travelling to. I have had that happen to me twice where i accidentally login to bitmex from a country and then i get 7 days notice to withdraw everything, obviously i didn't withdraw all of the BTCs and then its a long battle to get your money back, i did get it back but i don't want to deal with that again, even for a small amount.

I nice thread to check every now and then,
This is really interesting I think it is a great idea to have a journal about our trades,
To see what we achieve and learn from our mistakes this could be helpful for everyone.

Deposited $1000 (0.10282)

https://i.imgur.com/OHJAqDm.png

Total Deposits so far is 0.288325 BTC

Having a journal in you trading or gambling, I think is one of of the good to read because your experience is in there even its good or bad,  but still the most important of reading your journal is what the contained inside like the moment about how you become succeed that you wrote in your journey, especially with matters of current interest.

Going in Long if price Drops to $8500 on Bitmex

https://i.imgur.com/5RWbecQ.png

Attempt - 5

https://i.imgur.com/5PZvnLV.png

I always thinking if im going to make a journal because I want to know if having a journal is can help us to have a good path in gambling and help us to explore gambling without become addicted to it. And I think Having a journal remind us to not too much involving to gambilng or trading and help us to lessen encounter a loses.

Fucking finally, closed position @ 8700

Final Balance in account is 0.1809 BTC

Double the next bet is not a good idea, If you have a large amount of capital compared to the amount you are trading it is not a problem, but for those who have less capital, increase the volume of transactions is a risky option that can make them bankrupt quickly.

It could be a good idea but if you are in a losing streak double the bet is the way to fall in big debts.

I'm not sure what's OP doing, but those images show some big lost until the last one. I hope cryptotrade78u make some serious money with this

you are right, it is terrible idea and you can only win small and lose big

But these are amounts i am happy to take loss without even wondering where it went.

If it gets too big, i will stop obviously

what a beautiful day today, BTC has been rejected at $9900 - $10,000 level for 3 times now in last 4 days.... Currently at $9800 so an obvious short position.

Going to put it all on short and lets see how it goes, hopefully it doesn't drop much before i make the trade.

Attempt - 5

Winnings in row - 1
Profit/Loss so far -0.123885 BTC

Potential loss in this trade 0.1809

Got in at 9785 short position

Liqudation @ $10002
Take profit @ $9560

Roughly $215 in both directions.

Good luck


https://i.imgur.com/fZrKAE4.png

Interesting and sobering thread. May I ask how do you make your predictions? Is it pure price action?

Right now when its small money, its totally gambling... If we get to higher amount, i will look at naked trading (just support and resistant).

if i get to over 2 btc or something, i might spend time learning trading, right now its not worth it.

If i keep losing, i think my stop loss is around 1 btc every couple of months. In our monthly budget, we call it Gambling expense.

Look at this Resistant at 10k in last couple of days, we have to be super unlucky to loose this one...

https://i.imgur.com/HHVCaEi.png

BOOM!!!

Balance is now 0.3349 BTC

Total Deposits so far is - 0.2884 BTC

Net Profit - 0.0465 BTC


https://i.imgur.com/xKBs6aW.png

Bitmex is now requiring KYC to withdraw funds. Might have to keep gambling and do KYC only if it becomes significant enough to withdraw. If we are losing it all, why even bother with KYC?

And what is your leverage, I see it is more than x20? Or I'm wrong? If it is higher than x20, then this is a very risky leverage, because the liquidation price is very high, taking into account the volatility of the market, I would advise a maximum of x10, or less. anything above is a very risky trade.