I think it could probably be implemented more simply than that. the implementation is not the problem, the problem is what's happening when the market goes against your positions and you get a margin call but your funds do not cover total loss example, i know you can do the math but to let it clear if anyone have questions and I dont include fees and interest --you are long since 13.20 and you put your stop loss at 13usd --I decide to dump and sell 30 000 bitcoins --my order in mtgox is number N --mtgox start to process my order --the price gets at 13usd --your stop loss is triggered --your order in mtgox is N+23 --mtgox will process my order that the other 22 orders and then yours --but you get processed at 12.50 and you got 50 cents slippage,(13 was the initial stop but u get out at 12.50) your account funds needs to cover the 70 cents loss per bitcoins if not bitfinex will lose money in case of a loss stock and forex brokers will call your home and tell you have 48h to pay the loss or get sued you can see that there is a big difference of condition from "real world" to bitcoin world now lets look if we count total equity (wallet funds+gains) for leverage --again your are long from 13.20 100 bitcoins based on your deposit of 20 btc --at 13.50 you have gain 100x0.30=30 usd --30x5=150, 150/13.50=11.11 so u can add 11 bitcoin to your long --your positions get closed to same 12.50 --11x13.50= 148.5 11x12.5=137 148.5-137=11.5 loss --100x13.20=1320 100x12.50=1250 1320-1250=70 loss --total loss 70+11.5 = 81.5 ---if you don't use equity for leverage your loss is just that 70 --total wallet value 20*12.50=250 --81.5/12.50=6.52 so bitfinex will take 6.52 BTC from your account in order to pay the user that lend you USD to go long (fees not included) what happen if the market does not stop at 12.50 and it stops at 10USD and you position is closed at 10USD This, as far as I can see, is a problem you are going to face anyway. Secondly, handle the insufficient margin problem in the same way you handle the 'no reserve' problem. So orders go into the open orders list and are fulfilled as much as the existing margin will allow. Remaining order stays in the open orders list but the status says 'no margin' and is not processed. so if a user wants to go long 100 bitcoins but only get funds for 89 bitcoins, fill the 89 and ignore the remaining 11 No, they are not ignored. They are pending until sufficient margin becomes available. Another thing though, not a big problem, but the radio button on the Credit Available table keeps defaulting back to 60 days. This occurs when the table refreshes. So if I select 1 day, and then the refresh occurs before I click the buy/sell button. I could inadvertently order a 60 day loan instead of the 1 day loan I wanted.
Hi, This has been changed, the chosen period won't revert back to 60 days when reloading the table. OK, thank you Raphael. It is true that Bitfinex is very pessimistic in letting or not a user placing an order, because we don't have, for now, the possibility of having negative balance. Now, to avoid this, in your example where you have a 5 BTC long position, just place 2 sell orders of 5 btc, and you won't get an insufficient margin error  Ah, OK, thanks. |
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@MariusTi & nigewri
Thanks guys.
@uk
Thanks again uk1. Added; 'AKA', 'BOT', 'CWOT', 'DL' & 'UL'.
Also added; 'Web Wallet' & 'GPG'.
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I think it could probably be implemented more simply than that.
First stop blocking the orders with the insufficient margin message.
Secondly, handle the insufficient margin problem in the same way you handle the 'no reserve' problem. So orders go into the open orders list and are fulfilled as much as the existing margin will allow. Remaining order stays in the open orders list but the status says 'no margin' and is not processed.
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I smell a bear trap
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Anyone else fancy a -  - ? |
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What now?
The big development of Bitfinex is over. The general behavior (way lending and margin system works,...) won't change. It's time for bug fixes and interface improvment. So I'd like to thank everyone that is trying bitfinex. As you can see, this is a beta, but we are dedicated to make your experience and your profits as good as possible.
At the risk of becoming a pain, I would like to suggest one more slight modification. I would personally find it desirable if the system took into account the margin that would become available by closing any active positions when placing an order. For example, assume I have a margin of 1 BTC and a leverage of 5:1. If I had a long position of 5 BTC and I place an order at a higher price to sell 10 BTC I get an insufficient margin message. Where as, the selling of the first 5 BTC, by closing the active position, would provide sufficient margin to borrow and then sell the remaining 5 BTC. |
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I'm heading out, there's an end of the world party at my local bar.
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Thank you! It's very helpfull!  Thank you kamizie, Added; 'Dark Web', 'Darknet' & 'Doxxed' |
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I once thought about changing my middle name to '") DROP TABLE *'.
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You need five post and have been online for five hours before you can post in other sections of this forum.
The newbie section is well read, and if you post your question here I'm sure you'll get an answer. If the post is important enough it will be moved to the relevant section.
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If you are emotional at the moment because of some recent event or argument. Then you should take some time to reflect on it when you are in a more neutral state before making any decisions.
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Thank you Raphael, everything looks fine now.
Another thing though, not a big problem, but the radio button on the Credit Available table keeps defaulting back to 60 days. This occurs when the table refreshes. So if I select 1 day, and then the refresh occurs before I click the buy/sell button. I could inadvertently order a 60 day loan instead of the 1 day loan I wanted.
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Thank you Raphael, my confidence is restored |
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OK, I think I've found a bug.
I just checked my position and found the my long position had magically become a short position.
After thinking back I had attempted to place an order to go short at a certain price but when I clicked the 'sell' button I got a message saying 'insufficient margin', so I assumed the order was not placed as it never appeared on my active orders list.
The trade history looks like this;
2074 BTCUSD Market -6.0 - about 1 hour ago Forced executed @ 13.277(-4.03): was forced partially filled @ 13.2771(-1.97)
2073 BTCUSD Market -6.0 - about 1 hour ago Forced executed @ 13.277(-4.03): was forced partially filled @ 13.2771(-1.97)
[Edit]
Another thing, the position seems to have closed to USD, when my settings state positions should be closed to BTC.
[Edit+]
The orders that reversed my position are not shown in the Public Trades History.
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I code in C++ and opengl. I find the ability to code for the GPU using shader languages very exciting. The GPU can be used to perform lots of tasks including things like physics. But, there is a lot to learn.
I use code::blocks most for my IDE as its open source, cross platform and supports a wide range of compilers. The compiler I user most is the gnu gcc compiler in conjunction with mingw.
Debugging is an art, it can only be learned by doing. This involves lots of scratching of the head and experimentation. The error messages produced by compilers can be hard to interpret, but remember, that is because the compiler doesn't know what you are doing, so it can only state literal facts about the compilation attempt.
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Hey crazyates, thanks again. Added; 'POT' Also added; 'Fungibility' & 'Liquidity' |
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This is a really useful resources, thanks. I might add one term to your list: bunga bunga. This is a special type of party with lots of young girls and seedy politicians  Not sure if you're serious  Added; 'Arbitrage', 'Demurrage' & 'Bounty' |
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Play her at her own game. Buy a fake Rolex watch or something and pretend it's real. Then say "You know you're right, we only live once, so I'm going to start indulging myself".
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Surfs Up! Catching the mini dumps and riding the rebounds. Ye-haw!
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