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1  Economy / Trading Discussion / Re: BTCUSDT P. Trading Fees on: September 22, 2023, 05:45:58 PM
Quote from: logfiles on September 22, 2023, 01:05:12 PM
Quote from: Michael0410 on September 22, 2023, 08:57:30 AM
Hi everyone,

At the moment I am using ByBit for trading BTCUSDT P. and the buy / sell fees killing my gains.
I am guessing you are scalp trading on very low time frames with high leverage, and using market orders to open and close positions, right?

Unfortunately, the fee rates of most exchanges are similar. From bybit to Binance if you are not a high ranking VIP level member or using their tokens to reduce the fees.

Quote from: Michael0410 on September 22, 2023, 08:57:30 AM
Is there any good crypto platform that doesn't charge fees?
The good news is that MEXC currently has the lowest trading fees perhaps due to some promotion which is definitely temporary, make full use of it before the offer ends.

Spot ---> Maker: 0.000%    Taker: 0.000%
Futures ---> Maker: 0.000%   Taker: 0.010%


1.) Which time frame you suggest for scalping? Currently, using 1 min. 5 min. would be better?

2.) I am using Levarage 10x at the moment. What do you suggest? Like 1x leverag.

3.) Instead of using Markets orders, it would be better to use "Limit" (including order price)?

Many thanks,
Mike
2  Economy / Trading Discussion / Re: No gains, 1 Minute Scalping Strategy on: September 22, 2023, 02:38:13 PM
Quote from: goaldigger on September 22, 2023, 01:31:54 PM
Quote from: Michael0410 on September 22, 2023, 09:25:31 AM
I am wondering if you have any suggestions regarding the above?
Maybe I should move to longer timeframe and not scalping in order to make profits?

Many thanks
Mike  
Yes, change your strategy and trade with a longer timeframe.
You're still a beginner and you still need to learn a lot of things about trading, you don't need to rush and aim for an instant profit.
This is actually the mistake of most of the newbies, they trade instantly without investing on their own knowledge first. Learn from that mistake and start doing the right thing. Don't expect to make profit in scalping if you have low capital, it can only works to those who have enough capital to trade with.

Thanks for your reply!

Any suggestions regarding a longer timeframe that I can use?
3  Economy / Trading Discussion / Re: No gains,1 Minute Scalping Strategy on: September 22, 2023, 10:02:26 AM
Quote from: Oshosondy on September 22, 2023, 09:41:13 AM
You ask similar question just nit long ago: https://bitcointalk.org/index.php?topic=5467688.msg62884510#msg62884510

Read what I posted there.

If it is derivative market, the fee on Bybit for makers is 0.02%, but for takers it is 0.06% which can be too much for you.

On OKX: Marker fee is 0.02%. Taker fee is 0.05%

On Binance which I have advised you to use, it has lower fee, especially the taker fee of 0.04% or lower.

If you want to gain more, set taje profit so that (using limit order if available) so that only maker fee would be deducted from you after you make the profit amount you want to make.

Thanks for your reply!

Double checking things:

You suggested to place a "limit" order instead of a "market" order, etc. + set the "Take Profit-Trigger by ROI (%)" (ByBit)? This way it will only take a maker fee?

Till know I placed "market" orders and being charged fees twice: once for the order placed and another time for a closing order.

Thanks!
Mike
4  Economy / Trading Discussion / No gains, 1 Minute Scalping Strategy on: September 22, 2023, 09:25:31 AM
Hi everyone,

I am a newbie.

I started trading BTCUSDT P. and testing a 1 minute scalping strategy (including several indicators) at the moment.

So far... I don't manage to gain any profits from the trades that I did place lately. I do manage to win trades, but the issue is that the fees killing my profits!

I am wondering if you have any suggestions regarding the above?
Maybe I should move to longer timeframe and not scalping in order to make profits?

Many thanks
Mike  
5  Local / עברית (Hebrew) / Binary Options Question on: September 22, 2023, 09:17:30 AM
Hi everyone,

Topic is a bit off.

I am living in Israel and Israeli companies are not allowed to offer Binary Options since 2017.

I am wondering if individuals who live in Israel are still 'allowed' by law to trade Binary Options with a foreign Binary Options platform?

Many thanks
Mike
6  Economy / Trading Discussion / BTCUSDT P. Trading Fees on: September 22, 2023, 08:57:30 AM
Hi everyone,

At the moment I am using ByBit for trading BTCUSDT P. and the buy / sell fees killing my gains.

Is there any good crypto platform that doesn't charge fees?

Many thanks
Mike
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