Hi again and thanks for your responses. I'm not sure I understand maintenance as I can't match it up with real numbers, but it's close enough, and I get the idea. I'd like to propose a suggestion to your order reporting. I would like to see all of the active orders sorted by price. I'm currently doing that manually, but it would be nice if your interface provided this view (even better if it graphically displayed them above the weekly chart, but I ask too much). Something like: BTCUSD Trailing stop 5.0 $4.8429
BTCUSD Stop 5.0 $4.0500
BTCUSD Limit -5.0 $3.5500
2.84332 / 2.87888
BTCUSD Position -5.0 $3.4286 $??.88 ???.943%
BTCUSD Limit 5.0 $2.4500
BTCUSD Limit 5.0 $2.2000
BTCUSD Limit 5.0 $0.6000 It's really a good idea and we have actually considered the "price ladder" view. However, we may not launch this feature in the next release because we want to integrate with order entry directly. You will be able to edit your orders in-line, and control all your trades using a single price line. Our current focus is a much better front-end experience. The next release will make everything refresh-free with a even more intuitive interface, including notifications and real-time order entry. |
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Now I am having problems withdrawing to mtgox...
When are you going to have 100% withdrawal reliability?
I heard from Mt. Gox that they are implementing a sub-account feature. Our withdrawal will be completely smooth after they have this feature. Now we have different accounts for hedging and withdrawals, and as required, the hedging account is "verified". However, the withdrawal account is still limited since we can't verify them with the same identity. We can't allow withdrawals from hedging account for both technical and security reasons. If you ever have problems with withdrawals, just submit a support ticket to us. We will help you withdraw within 2-12 hours. Mt. Gox BTC code should be working fine, and BTC withdrawals are 100% available. |
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Thank you for your answer. Could you explain how Maintenance is calculated? For clarification, is it correct that
(Tradable Balance) = (Margin Balance) * Leverage - Positions
(Net Value) = (Margin Balance) + (Unrealized P/L=Profit/Loss)
They are correct at the time of this writing. (If we ever change the formulae, we will notify by email at least 7 days in advance.) Maintenance = Positions / Leverage * Margin Requirement (%) Currently, leverage is 5 and margin requirement is 20%. We may offer different choices in the future. Positions value = base price * quantity (absolute value) |
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Hi Zhoutong, I have not experienced forced liquidation, but I am not sure when I should be concerned.
Suppose my account has $4 and 2 BTC, for a margin balance of about $10. With 1:5 leverage, can I buy bitcoins in excess of $50? At what point would forced liquidation occur? What does 'maintenance' mean?
You have "Net Value" have "Maintenance". Basically you can't let your net value fall below the maintenance margin requirement, otherwise forced liquidation will occur. You can buy Bitcoins worth $50 max since you have $10 margin balance. (It's indicated by Tradable Balance.) You have to control your loss to be always less than 16% because I guess your maintenance will be about $2 if you trade with full leverage. In reality, I don't recommend any client to trade using full leverage unless with absolute confidence, even though this may increase our volume. |
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MtGox usd withdrawal request is giving an error telling me to check my input and try again. I've submitted a ticket via support tab.
Can you look into this? My account name is same as forum name. Thanks.
They may be having problems with their Yubikey again. I was able to make a smaller withdrawals on the 6th without issue, so I'm not sure what the problem may be.. In the past, Zhoutong has been very quick to respond to tickets and answer my questions, so I'm sure this matter just needs to get his attention to get resolved. Hi, Sorry for the late response. I was busy with my exams these few days. I have already replied to your ticket and withdrawn your balance for you. Thank you for your support! :-) |
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Since my reputation is on the line, I will be putting a lot of consideration into whether a site deserves to make the list.
Thank you for putting Bitcoinica into the list! And it's categorized under "Services" instead of "Exchange", a very clever choice. (So that it won't confuse newbies.) The more difficult decision was deciding whether https://www.get-bitcoin.com/ was an exchange or a merchant. I figured since the Bitcoins were only flowing in one direction, it was a merchant. Thoughts?? I could be wrong. It should be a service, because they grab the prices from elsewhere. But they are selling a product (Bitcoins) for a profit. That is why I'm leaning towards merchant. They are a merchant in the context of real world trade - selling Bitcoins for profit. However, they are a service in the context of "Bitcoin Business" - helping people obtain Bitcoins. So, strictly speaking, a Bitcoin Business Merchant should sell something for Bitcoins. |
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Since my reputation is on the line, I will be putting a lot of consideration into whether a site deserves to make the list.
Thank you for putting Bitcoinica into the list! And it's categorized under "Services" instead of "Exchange", a very clever choice. (So that it won't confuse newbies.) The more difficult decision was deciding whether https://www.get-bitcoin.com/ was an exchange or a merchant. I figured since the Bitcoins were only flowing in one direction, it was a merchant. Thoughts?? I could be wrong. It should be a service, because they grab the prices from elsewhere. |
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Since my reputation is on the line, I will be putting a lot of consideration into whether a site deserves to make the list.
Thank you for putting Bitcoinica into the list! And it's categorized under "Services" instead of "Exchange", a very clever choice. (So that it won't confuse newbies.) |
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So 1% of the people have half the wealth!??! That's not FAIR!!!!
::grabs pitchfork and heads for Singapore::
In the whole Bitcoin world, it's the same - 1% owns half. |
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This simple research was done on Bitcoinica clients that have traded at least once and kept a positive account net value. It's generally consistent with overall Bitcoin wealth distribution.
Perhaps this data is useful for people who are curious about Bitcoinica clients' trading activity.
% Population % Wealth
10.0% 0.0%
20.1% 0.0%
30.1% 0.0%
40.1% 0.0%
50.1% 0.1%
60.2% 0.3%
70.2% 0.8%
80.2% 2.2%
85.1% 3.7%
90.0% 7.3%
92.0% 10.1%
95.1% 17.7%
95.9% 20.4%
97.7% 32.0%
97.9% 34.3%
98.2% 36.8%
98.5% 41.0%
98.7% 45.4%
99.0% 50.0%
99.2% 55.7%
99.5% 65.2%
99.7% 80.5%
100.0% 100.0%
Gini Coefficient = 0.87709
We welcome other exchanges/e-wallets to publish stats like this as well.
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Zhoutang,
I need some help with my account. I was attempting to set a limit and I guess it came out as a stop. I was willing to chalk it up to a misclick, but when I went to liquidate the new position it created, it added to my position. I tried to liquidate that, and it added more.
If you could help me sort this out, I'd be appreciative. I'll send you a PM with details.
Hi, Sorry for the problem. Can you please submit a support ticket to us? I'll look into your account. If it's a confirmed technical error, I'll credit you as compensation! Thanks! Would that be the help.bitcoinica.com, or the private support email? (help.bitcoinica.com is down for me atm) Or hopefully the PM I sent might address that it is a minor loss and maybe could be handled outside of support ticket means. Sorry that I didn't see your earlier PM. Normally I only pay attention to support tickets, which can be created by either visiting help.bitcoinica.com or sending emails to support@bitcoinica.com. I have checked your account and yes, it was really a mess. Some old customers have similar problems because of our previous change in BTC deposit feature, and most likely you are in this category too. In order to avoid any more problems, I didn't revert your account. Instead, I have credited you 1 BTC, which should be more than enough to recover your losses. (It will arrive after confirmations.) Thank you for your support! |
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Zhoutang,
I need some help with my account. I was attempting to set a limit and I guess it came out as a stop. I was willing to chalk it up to a misclick, but when I went to liquidate the new position it created, it added to my position. I tried to liquidate that, and it added more.
If you could help me sort this out, I'd be appreciative. I'll send you a PM with details.
Hi, Sorry for the problem. Can you please submit a support ticket to us? I'll look into your account. If it's a confirmed technical error, I'll credit you as compensation! Thanks! |
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Well hell, if you have 1050 in this account, and -950 in the blocked one... if I where zhoutong, I'd just send you $100 and call it even. but i'm not zhoutong  The only thing I did with this account recently was actually I want to withdraw money, but always got errors. So I wrote a while true shell script help me make a withdraw every 30 seconds. Mr. Zhou may think it is too often. Anyway, it's not my fault. I just want my money. I hope Zhou Tong unblock my account ASAP. Hi, I thought I had sent you an email. I have already reset your password and it's included in the email. That's because of this anomalous withdrawals.  Thanks, I logged in successfully with the new password you sent me. But I got my BTC balance -฿1.00000000. Did someone steal 1 BTC from me? No, I did it to prevent withdrawals. I'll credit back. If you have any difficulties to get your money out, just email support@bitcoinica.com. We will manually withdraw for you. The automatic withdrawal feature only works for small amount for now. |
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Zhou can you please swap the shading on your charts? Up candles are supposed to be white and the down candles are supposed to be filled. Thanks!
Actually I also think it is not right. But that's how Google Charts API works. I didn't figure out anyway to change that. |
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Well hell, if you have 1050 in this account, and -950 in the blocked one... if I where zhoutong, I'd just send you $100 and call it even. but i'm not zhoutong The only thing I did with this account recently was actually I want to withdraw money, but always got errors. So I wrote a while true shell script help me make a withdraw every 30 seconds. Mr. Zhou may think it is too often. Anyway, it's not my fault. I just want my money. I hope Zhou Tong unblock my account ASAP. Hi, I thought I had sent you an email. I have already reset your password and it's included in the email. That's because of this anomalous withdrawals. |
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If a trailing stop is a set and ignored during a long trend, then it makes sense. One must believe the price will continue to trend and the stop will cross the limit while he's away. I can't imagine there are Bitcoinica users with active positions who ignores the daily price.
There are. I'm quite surprised when I see some customers holding their positions for more than a month. Especially short sellers that start from $6. They just have plenty of margin and set a trailing stop $2-3 away from their base price. Unsurprisingly, they are the most profitable traders here. |
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Oh good, you have the data. A link to a CSV or spreadsheet would be awesome so we can run our own analyses. You can use API to access historical prices for now. In the future, we may consider releasing daily prices in a package. |
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I don't have a bot and Bitcoinica stops let me sleep once in a while.  Yeah, Cypherdoc is an idiot who doesn't know what he's saying. He's advocating for what you're already doing, but telling you to take out your one protection from volatility. He doesn't even understand your question. I think it's a good one, it would be nice to see, graphically, a comparison between Bitcoinica's price volatility and what a good percentage below (or above, if you're short-selling) would be to reasonably protect profits without accidentally triggering a sell. On an average day, of course. You could figure this out yourself, netrin, if we could get some trend data on Bitcoinica's price movements. |
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For the current release, the buy or sell ratio buttons don't assume anything. If you enter -50 and ignore the rest, it'll be a sell order. Basically, if you choose sell, it will reverse the sign of the amount. It's for simplicity.
That's interesting. So, -50 is the AMOUNT, "I want 50 fewer bitcoins"? Is that precisely true for stops as well "I want 50 fewer bitcoin if the price drops below the price set"? Zhoutong, could you explain the trailing stop is detail (I appreciated the unambiguous code example earlier). I expected they would approach the market price too quickly, but they actually performed well, though I still lost money on an otherwise good trade. I understand that a sell stop will keep matching the previous difference whenever the price goes up, but the sell stop will never go down again. Are the trailing stops recalculated after every trade, every new gain, or periodically (every minute maybe) or ...? Does the difference between the market price and the trailing stop necessarily decrease over time or are their instances when a trailing stop will 'stick' while the market price goes up? Reworded, does a trailing sell stop only increase when the market price goes higher than the original difference (order - stop) or does the stop increase with every market price gain? A trailing sell stop will increase with every market price. It's being re-calculated after every new price is recorded (generally every 3 seconds). == Bitcoinica's Code == when "TRAILING STOP" execute(order) if order.price <= order.current_price && order.amount >= 0 execute(order) if order.price >= order.current_price && order.amount < 0 if order.amount >= 0 history_price = Ticker.last_tick(order.pair, order.updated_at).selling if order.current_price < history_price order.price += order.current_price - history_price # Add a negative number order.save end else history_price = Ticker.last_tick(order.pair, order.updated_at).buying if order.current_price > history_price order.price += order.current_price - history_price # Add a positive number order.save end end ... |
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Zhou: you'd better get your algorithm tightened up for the upcoming volatility.
I don't think you know anything. I should always tighten up my algorithm. |
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