Bitmex for idiots - Leveraged Trading. Great for those impatient like me.

[allmeat27]

I kept seeing the Bitmex wrecked twitter thing and seeing mentions of leverage all over 4chan, but had absolutely no idea what it all meant. It also looked too complicated for me so I've always ignored it. Got bored today and it's actually much simpler than it seems. There's a ton of guides that go super in-depth and those made absolutely no sense to me, so I'm going to explain it from an idiot's perspective.

First of all, the draw of Bitmex is you can do what's called Leveraged trading. In the simplest terms possible, it means you multiply your percentage gains/losses. If you go 10x leverage long on bitcoin and bitcoin gains 1%, you gain 10% more money. This is super cool for impatient people like me because it allows you to trade more actively without getting wrecked by fees, and it's ridiculously exciting.

Bitmex doesn't allow US users, but supposedly, all you need to do is register under a VPN and you're good to go. I used ExpressVPN. It is a paid VPN, but they have a 30 day money back guarantee. You can register on Bitmex with it, then cancel. Or keep it because it's actually a super nice program.

Once you're registered, deposit some BTC into your Bitmex wallet. When you first open the trade screen it's going to look super complicated. It's not.

Buying Long on a coin means you expect it to go up. Buying short on a coin means you expect it to go down. Playing those buys works like any other Exchange (i.e. Binance). You can set a limit price to buy in at and an amount. to buy.

Now you want to pick your leverage. In the menu below that, there's a slider. Again, each multiplier of leverage means every 1% = your leverage multiplier. 1% gain with a 25x leverage means 25% gain. I would start with 2x/3x leverage until you get a good handle on things.

The Cost number below the buy long/buy short number is the big one here. With leverage, you're essentially putting loaned money toward a coin. With 10x leverage, you can buy 1 BTC even if you only have .1 BTC (this is why the percentage gains are so drastic). However, this means you can lose it as well.

Let's say you bought 1 BTC at $10000, Long at 10x leverage (So you put in $1000). If BTC dropped 10% to $9000, you would lose all $1000 you put in. If it went to $11000, you would gain $1000 and double your money. Bitmex will auto "liquidate you" if you drop too far and don't have any more money to cover (10x leverage means if it drops more than 10% you lose all the money you put in. 25x leverage means if it drops more than 4% you lose all your money).

You can change orders on the fly and constantly adjust. Let's say BTC raised to $10100 (1%). You could then sell your long order and you will have gained 10% and now you can invest your $1100.

Like I said, there's a ton of guides out there that go into the more fancy TA and ways you can adjust orders, but this should provide a quick overview to get you started. They have a testnet site where you can practice with fake money first as well.


BTC has been interesting the last few days. Been shorting 9500 and longing at 9000, done fairly well!


Personally going long on BTC early morning tomorrow. Not sure what will happen tonight

[mod note: removed ref spam]

[anobtc]

I learnt some trading classes, an almost teacher told me that we need stay away Leverage and Margin trading, because you was playing with that Exchange. I'm a patient too, but what we can do when margin trading, we shorting and price up, etc. So i just trading at normal mode 

[Johnny Lgz]

That is why price observation and reading speculation is needed when you buy coins since tomorrow the price may drop or increase, that's why it is also risky to buy a coin with a very high value today because you don't know if it will drop its price in the next morning.

[vicvicto17]

Well all of you guys are correct, For me leverage trading is a gambling especially the price of bitcoin are not stable and charts seems very volatile coz the market is being manipulate and this is not the right time to trade those or else you get liquidate.

[allmeat27]

Hope you guys have been shorting!

[Silberman]

Well all of you guys are correct, For me leverage trading is a gambling especially the price of bitcoin are not stable and charts seems very volatile coz the market is being manipulate and this is not the right time to trade those or else you get liquidate.

Leverage is just a way to increase your profits, however it also increases your losses in the case you make a mistake, however I do not see really the point of using leverage in bitcoin, the price moves a lot already, I understand that people use this in Forex were the price only moves a few cents but bitcoin can go up and down thousands of dollars in an hour then using leverage is just a huge risk.

[allmeat27]

Well all of you guys are correct, For me leverage trading is a gambling especially the price of bitcoin are not stable and charts seems very volatile coz the market is being manipulate and this is not the right time to trade those or else you get liquidate.

Leverage is just a way to increase your profits, however it also increases your losses in the case you make a mistake, however I do not see really the point of using leverage in bitcoin, the price moves a lot already, I understand that people use this in Forex were the price only moves a few cents but bitcoin can go up and down thousands of dollars in an hour then using leverage is just a huge risk.

Fair point, but that's the fun of it. Each decision you make is incredibly important. Bitcoin drops $100 in 5 minutes and you either just 50% your money or -50% your money. High risk, high reward!

[Silberman]

Well all of you guys are correct, For me leverage trading is a gambling especially the price of bitcoin are not stable and charts seems very volatile coz the market is being manipulate and this is not the right time to trade those or else you get liquidate.

Leverage is just a way to increase your profits, however it also increases your losses in the case you make a mistake, however I do not see really the point of using leverage in bitcoin, the price moves a lot already, I understand that people use this in Forex were the price only moves a few cents but bitcoin can go up and down thousands of dollars in an hour then using leverage is just a huge risk.

Fair point, but that's the fun of it. Each decision you make is incredibly important. Bitcoin drops $100 in 5 minutes and you either just 50% your money or -50% your money. High risk, high reward!

OK, now I get your point, I'm personally mostly a holder this is why if possible I try to avoid the volatility of the market and that can only be done by holding for a long time but it seems you like the opposite, you like the risk and you are willing to risk your money in your ability to predict how the market is going to move and for how long, if you are good at that you could make a fortune but you could also lose all your money in just a few hours.

[Crocketdile]

Hey guys,

I'm a bit late to the party here, but thought maybe someone could benefit from this:

Lately I've been spending a load of time on BitMEX shorting BTC in this Bear market.
I found the exchange a bit complicated when I first started - So I started writing down little tricks for myself.
In the end I had a load of bits and pieces, so I put them all together and compiled a guide for new traders.

Feel free to have a look and I hope it can be beneficial to anyone interested in Margin Trading on BitMEX.

https://www.crypto-simplified.com/bitmex-survival-guide/

Trade safe guys and girls!

[f12345]

Pros
Low fees
Futures and derivates trading
Many advanced features available
Nice trading platform
Maximum leverage of 1:100 is available
Cons
Not for beginner traders
No fiat deposits / withdrawals availablE

[PraMt]

Thank You Very much 

[matthewio]

Thanks for sharing with all, I personally would not recommend leverage trading for newbies, it is super dangerous as you can have your entire asset wipe to zero in less than a minutes, especially if you go 100x. One need to spend enough time studey before you even attempt it

[tranquyen123456]

I hate Bitmex, it's gambling, not investing, Margin is something too risky. I advise you to stay away from it if you want your wallet to be safe

[freezzeer]

Bitmex is a risky trading method for me,But some of them has patient to play with exchange.It's like a experienced gambling method.If some one good in Technical Analysis, He can  trade with bimex ,now a days TA is not enough for the predictions. Must keep eye on news.

[manhdn]

Anyone pay attention at trading with Bitmex? Looking for a chance

[RobertBoss]

I kept seeing the Bitmex wrecked twitter thing and seeing mentions of leverage all over 4chan, but had absolutely no idea what it all meant. It also looked too complicated for me so I've always ignored it. Got bored today and it's actually much simpler than it seems. There's a ton of guides that go super in-depth and those made absolutely no sense to me, so I'm going to explain it from an idiot's perspective.

First of all, the draw of Bitmex is you can do what's called Leveraged trading. In the simplest terms possible, it means you multiply your percentage gains/losses. If you go 10x leverage long on bitcoin and bitcoin gains 1%, you gain 10% more money. This is super cool for impatient people like me because it allows you to trade more actively without getting wrecked by fees, and it's ridiculously exciting.

Bitmex doesn't allow US users, but supposedly, all you need to do is register under a VPN and you're good to go. I used paid VPN for Bitmex. Yes, it is a paid VPN service, but they have a 30 day money back guarantee. You can register on Bitmex with it, then cancel. Or keep it because it's actually a super nice VPN for Bitmex program.

Once you're registered with VPN for Bitmex, deposit some BTC into your Bitmex wallet. When you first open the trade screen it's going to look super complicated. It's not.

Buying Long on a coin means you expect it to go up. Buying short on a coin means you expect it to go down. Playing those buys works like any other Exchange (i.e. Binance). You can set a limit price to buy in at and an amount. to buy.

Now you want to pick your leverage. In the menu below that, there's a slider. Again, each multiplier of leverage means every 1% = your leverage multiplier. 1% gain with a 25x leverage means 25% gain. I would start with 2x/3x leverage until you get a good handle on things.

The Cost number below the buy long/buy short number is the big one here. With leverage, you're essentially putting loaned money toward a coin. With 10x leverage, you can buy 1 BTC even if you only have .1 BTC (this is why the percentage gains are so drastic). However, this means you can lose it as well.

Let's say you bought 1 BTC at $10000, Long at 10x leverage (So you put in $1000). If BTC dropped 10% to $9000, you would lose all $1000 you put in. If it went to $11000, you would gain $1000 and double your money. Bitmex will auto "liquidate you" if you drop too far and don't have any more money to cover (10x leverage means if it drops more than 10% you lose all the money you put in. 25x leverage means if it drops more than 4% you lose all your money).

You can change orders on the fly and constantly adjust. Let's say BTC raised to $10100 (1%). You could then sell your long order and you will have gained 10% and now you can invest your $1100.

Like I said, there's a ton of guides out there that go into the more fancy TA and ways you can adjust orders, but this should provide a quick overview to get you started. They have a testnet site where you can practice with fake money first as well.


BTC has been interesting the last few days. Been shorting 9500 and longing at 9000, done fairly well!


Personally going long on BTC early morning tomorrow. Not sure what will happen tonight

It is 2019 now. What can you say about trading with Bitmex currently?
Is it still risky?
I am considering to work with Bitmex but want to hear any news. Please share your experience if you still work with Bitmex.
Thank you in advance.

[docthusinh]

I kept seeing the Bitmex wrecked twitter thing and seeing mentions of leverage all over 4chan, but had absolutely no idea what it all meant. It also looked too complicated for me so I've always ignored it. Got bored today and it's actually much simpler than it seems. There's a ton of guides that go super in-depth and those made absolutely no sense to me, so I'm going to explain it from an idiot's perspective.

First of all, the draw of Bitmex is you can do what's called Leveraged trading. In the simplest terms possible, it means you multiply your percentage gains/losses. If you go 10x leverage long on bitcoin and bitcoin gains 1%, you gain 10% more money. This is super cool for impatient people like me because it allows you to trade more actively without getting wrecked by fees, and it's ridiculously exciting.

Bitmex doesn't allow US users, but supposedly, all you need to do is register under a VPN and you're good to go. I used paid VPN for Bitmex. Yes, it is a paid VPN, but they have a 30 day money back guarantee. You can register on Bitmex with it, then cancel. Or keep it because it's actually a super nice program.

Once you're registered, deposit some BTC into your Bitmex wallet. When you first open the trade screen it's going to look super complicated. It's not.

Buying Long on a coin means you expect it to go up. Buying short on a coin means you expect it to go down. Playing those buys works like any other Exchange (i.e. Binance). You can set a limit price to buy in at and an amount. to buy.

Now you want to pick your leverage. In the menu below that, there's a slider. Again, each multiplier of leverage means every 1% = your leverage multiplier. 1% gain with a 25x leverage means 25% gain. I would start with 2x/3x leverage until you get a good handle on things.

The Cost number below the buy long/buy short number is the big one here. With leverage, you're essentially putting loaned money toward a coin. With 10x leverage, you can buy 1 BTC even if you only have .1 BTC (this is why the percentage gains are so drastic). However, this means you can lose it as well.

Let's say you bought 1 BTC at $10000, Long at 10x leverage (So you put in $1000). If BTC dropped 10% to $9000, you would lose all $1000 you put in. If it went to $11000, you would gain $1000 and double your money. Bitmex will auto "liquidate you" if you drop too far and don't have any more money to cover (10x leverage means if it drops more than 10% you lose all the money you put in. 25x leverage means if it drops more than 4% you lose all your money).

You can change orders on the fly and constantly adjust. Let's say BTC raised to $10100 (1%). You could then sell your long order and you will have gained 10% and now you can invest your $1100.

Like I said, there's a ton of guides out there that go into the more fancy TA and ways you can adjust orders, but this should provide a quick overview to get you started. They have a testnet site where you can practice with fake money first as well.


BTC has been interesting the last few days. Been shorting 9500 and longing at 9000, done fairly well!


Personally going long on BTC early morning tomorrow. Not sure what will happen tonight

It is 2019 now. What can you say about trading with Bitmex currently?
Is it still risky?
I am considering to work with Bitmex but want to hear any news. Please share your experience if you still work with Bitmex.
Thank you in advance.

I had bad experience with bitmex, their system would probably get fucked up during a high viotality period, you would/ certainly can't log in during this time to adjust your orders and got it liquidated if the price move against your favour. IF you like high leverage trading, may be you could look at kraken to try, they offer the same thing and the same fees structure for future products by now.