if your add BFX orderbook and mtgox orderbook you get exactly that, more orders that on mtgox





there are the trading accounts (or trading wallets) for the users that want to use leverage but this thread is not about that since is on the Bitcoin Forum > Economy > Marketplace > Currency exchange > (i don't want to derail the thread) for info about how the leverage trading works and how is funded read this post http://bit.ly/Ur8MCL

the BFX exchange and exchange accounts (or money deposited on exchange wallets) are the used like any other exchange, they dont use leverage, you buy with your funds and sell your funds.

chart 1) updated to the most bullish count u can have 

happy that u did not get usd to go long ?

this will come in the next iteration for the deposit feature (a debt market) AFAIK now the interest is calculated on the same way is got calculated when used platform money

he gets a margin call when the loss get close to the total amount of his deposit and your interest is payed each hour so your should not lose the interest if he get a margin call

like i did explain on the spanish forum some days ago https://bitcointalk.org/index.php?topic=127917.msg1375973#msg1375973 usd funds get used fast and any "outside pour of money" will have a huge effect on the price so users using the deposit feature is a much more healthy way to finance longs or shorts


patience this is a long journey, so stay small use gambling money to try things out

afaik means the platform does not have USD for you to take a long

below you will see if there are users that want to lend you money

you need USD from other users or the platform

if there are USD yes

no, your usd/btc balance is to guarantee your position you dont use your own money to leverage you use borrowed money

the only case you use your own USD to buy bitcoins is using the exchange

bitfinex is still on beta


1) the FAQ
https://bitfinex.com/pages/faq
2) fees
https://bitfinex.com/pages/fees
why there is a computation fee ?
to avoid order book spam and cancel

3) interest /swaps
https://bitfinex.com/pages/interest
why is this put in place ?
to provide funds for users that want to go long or short

4) accounts wallets management
https://bitfinex.com/managewallets
what are wallets?
each account have 3 wallets
1 for exchange
2 for margin trading aka leverage trade
3 deposits this is the money u lend to order users and earn interest

5) exchange
https://bitfinex.com/exchange
whats the deal ?
1 you can cross trade between mtgox and bitfinex (buy in mtgox sell on BFX)
2 lower mtgox fees
see this thread http://bit.ly/Uqjolq

6) trade using leverage
https://bitfinex.com/trading
orders
1 trailing stop
if the price is 10 usd and u want to trail your longs at 20 cents below the top price in the price field u put 0.20
if the price go at 10.10 then your trailing stop is at 9.90 from 9.80
if the price goes to 10.30 your trailing stop take you to 10.10
if the price goes back to 10.11 your trailing stop is still at 10.10 ( 0.20 below the top)
if the price goes below 10.10 you are out of the market
2 stop
if the price is 10 and you want to close your position if the price drops 0.10 then you put on the stop [sell] field 9.90
2a stop entry
the price is 10
there is a huge wall at 10.10 and you want to get in the market if the wall get eaten or canceled
you put a stop [buy] at 10.15 for example
3 limit
you buy or sell at  a fixed price
4 market
you buy or sell at market price expect slippage
5 limit vs stop entry
limit order allow you to buy cheaper that current price or to sell more expensive that the current price
stop entry allow you to buy more expensive that the current price and to sell cheaper that the current price
see point 2a for a example

8 ) BFX order book
https://bitfinex.com/pages/order_book
9) level 2 order book, so far is mtgox order book+ bfx orderbook
https://bitfinex.com/pages/ll_order_book


ask questions i will try to answer them doing my best

REMEMBER THIS IS STILL A BETA
available to exchange or margin wallets
1) the routing order is to hit a specific order book i try to use bfx since the 0.1 % fee
2) so far the placing orders on mtgox oderbook is not implemented (several reasons) maybe on a future, this feature is considered


margin wallets
1) the order hit orderbook there is no internal matching = 100% hedge
2) u can go long if there are USD to buy the bitcoin for you

sources of USD
1) platform moneys
2) user deposits

deposits
user lend you money for several time periods and u pay the interest, if someone deposits USD and they give it so u can go long they cant take the USD out for the set period of time so bitfinex is always solvent

TL:DR  there is not sufficient USD so u can go long




i will say nope the way it works is allot different compared to bitcoinica, maybe make a thread about it  

now the BSI is 3:1  and transaction log https://bitfinex.com/pages/public_log do reflect this  change in the sentiment

if you want to get a house at a low price better use tax lien certificates that to buy one, the risk reward is awesome

web page to view BSI : https://bitfinex.com/pages/bsi

BSI is sentiment index based on Bitfinex users actions not based on a poll, yes BSI use the approach "vote with your wallet not with a click" if a user is not on the market ( he is not long or short) he does not count so if anyone wants to change how the BSI look he needs to put money on the market and go long or short.

example if there are 2 user in the market
user 1 100 bitcoins long
user 2 100 bitcoins short
BSI will be 1:1

yday there was 60k traded on mtgox with a positive 28k traded i say there was quite allot of supply but not on order books

https://i.imgur.com/bUHUI.png the orange trend line come from 32 top what it was resistance is now support if we go below that can be considered a trow off but i need to go quickly below and with heavy volume

http://twitter.yfrog.com/z/hwb8nhp
special thx to RyNinDaCleM for pointing my failure on wave B

the levels are there now is decision time   

if today we close above 13.10 i was wrong and plain ABC correction remain the alternative