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Economy / Trading Discussion / Re: Bitcoinica Leverage
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on: April 01, 2012, 11:00:03 PM
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I don't use Bitcoinica, but you shouldn't have to convert first.
Don't forget: fees; you're paying the spread twice; and your 9k buy will move the market up and the ~9k sell will move it down cutting into your profit both times.
Also don't forget: if the market goes down $0.48 you will be forced to liquidate and lose 100%.
Ah okay thanks. Has anyone taken a high leveraged position before with btc recently?
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Economy / Trading Discussion / Re: Bitcoinica Leverage
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on: April 01, 2012, 03:55:27 PM
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Does this look right? 1) I convert my 1000 BTC to $4,800 and buy BTC with leverage 1:10. 2) I can technically buy $48,000 of BTC... If the price of a BTC rises from $4.80 to $5.00 and I liquidate, I will have a total of $50,000 of USD. I pay back the original $43,200 I borrowed and pocket the $2,000.
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Economy / Trading Discussion / Bitcoinica Leverage
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on: April 01, 2012, 02:19:32 PM
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I have roughly 1,000 BTC that I am not doing anything with. This was acquired in 3 days through means I will not mention on the forum (rhymes with milktoad) For the reason that this sum took such a small amount of time accrue, I don't mind "gambling" with leverage. I was thinking of depositing my funds in Bitconica and taking a leveraged position. The leverage I will use will be 1:10. Before I start, I have a few questions: - What is the difference between the different types of orders:
> Market > Limit > Stop > Trailing Stop - Are there call/put options?
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