[OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading

[tombtc]

Hey guys just a couple of noob questions

1. Let's say I do Margin Buy at market rate of $230. The price is rising and it's $240 now. I want to leave this open until it's rising. But if it starts falling down can I just set a price of $235 to auto-close my position to get my profits? I know I can just clik CLOSE at market rate but I want something automatic, is it posible with bitfinex and how to do that?

2. Also, can I set a price of $250 to auto-close it and get the profits?

[noggin-scratcher]

Hey guys just a couple of noob questions

1. Let's say I do Margin Buy at market rate of $230. The price is rising and it's $240 now. I want to leave this open until it's rising. But if it starts falling down can I just set a price of $235 to auto-close my position to get my profits? I know I can just clik CLOSE at market rate but I want something automatic, is it posible with bitfinex and how to do that?

2. Also, can I set a price of $250 to auto-close it and get the profits?

For 1. you want a Stop Sell order, you enter it with a trigger price, and if/when when the price goes as low as the trigger price it does a market sell (a Stop Buy would work in reverse - waits until the price goes "this high" then buys). The plus point is that it can save you from slipping into a loss if you have to leave your trades unattended, the downside is the possibility that a fake-out goes just low enough to set off your sell before the price rises higher.

Alternatively a Trailing Stop Sell, you would enter with a distance - then the trigger price starts at that distance below the current price, and stays there if the market goes down to set off the trigger, but gradually moves up if the price goes higher, so that your trigger price is always that same distance below the highest price-point that's been seen since you entered the order.

For 2. that would be an ordinary Limit Sell - you only want to sell if someone's going to pay $250, but the current going price isn't that high yet, so your offer to sell will sit on the order-book and wait for someone to come along who's willing to bid that high.

[tombtc]

Hey guys just a couple of noob questions

1. Let's say I do Margin Buy at market rate of $230. The price is rising and it's $240 now. I want to leave this open until it's rising. But if it starts falling down can I just set a price of $235 to auto-close my position to get my profits? I know I can just clik CLOSE at market rate but I want something automatic, is it posible with bitfinex and how to do that?

2. Also, can I set a price of $250 to auto-close it and get the profits?

For 1. you want a Stop Sell order, you enter it with a trigger price, and if/when when the price goes as low as the trigger price it does a market sell (a Stop Buy would work in reverse - waits until the price goes "this high" then buys). The plus point is that it can save you from slipping into a loss if you have to leave your trades unattended, the downside is the possibility that a fake-out goes just low enough to set off your sell before the price rises higher.

Alternatively a Trailing Stop Sell, you would enter with a distance - then the trigger price starts at that distance below the current price, and stays there if the market goes down to set off the trigger, but gradually moves up if the price goes higher, so that your trigger price is always that same distance below the highest price-point that's been seen since you entered the order.

For 2. that would be an ordinary Limit Sell - you only want to sell if someone's going to pay $250, but the current going price isn't that high yet, so your offer to sell will sit on the order-book and wait for someone to come along who's willing to bid that high.

Hi
Thanks for answering.
I like the trailing stop idea. We are talking about Margin Trading, right? So just to get that clear: I do a Margin Buy of 4btc at $230. The price goes up to $240. I need to go away from the computer so what I have to do is, Margin Sell Trailing Stop 4btc at $5. So if the price goes down to $235 it will sell. But if it keeps going up to $265 it will keep the $5 distance all the way up and sell $5 lower when it's starts dropping. Is that correct?
Will try with low amounts first
Thank you

[SebastianJu]

Hi
Thanks for answering.
I like the trailing stop idea. We are talking about Margin Trading, right? So just to get that clear: I do a Margin Buy of 4btc at $230. The price goes up to $240. I need to go away from the computer so what I have to do is, Margin Sell Trailing Stop 4btc at $5. So if the price goes down to $235 it will sell. But if it keeps going up to $265 it will keep the $5 distance all the way up and sell $5 lower when it's starts dropping. Is that correct?
Will try with low amounts first
Thank you

correct

[venomdog]

I couldn't made much profit from this position yesterday and I hate myself about it.
As you can see I had bought 11 btc on limit order with base rate of 228.83 and I placed short orders also of limit type on different rates.

1. Would trailing stop instead of limit order here made me better profit and how could I have achieved it.

2. Now price is $245 and say I set trailing stop sell order for $2 so does that mean my order will become active when price will fall to $243 and once its get active what will decide my profit price rise or price down and by how much price my order will be executed.

3. Same question like 2 but this time for trailing stop buy order.

I am missing a point here really and I need to understand that I can make profit even selling btc when I expect price to go low but then how can I make profit on short order by selling low, something doesn't make sense to me. Because I always thinks that I need to buy btc first beofre I can sell them and make profit when price is high, this whole idea of shorting when you got no existing long orders doesn't make sense to me.

I always understand simple rule you buy at low and sell at high, then why some people suggest to add a trailing stop sell order and gain when price goes down.

[jeroenn13]

If anyone needs a referral link, look at my signature.

[Sukrim]

If anyone needs a referral link, look at my signature.

Or mine or a lot of other places...
Is this really worth spamming?

BTT:
How's the new backend integration going? Any other news? For example an audit would be nice to have... or anything about the FRR situation. After all, you take a hefty percentage off of interest but it doesn't seem like the lower rates impact trading volume that much. How about charging less fees on non-FRR loans for example?

[HowardF]

If anyone needs a referral link, look at my signature.

Or mine or a lot of other places...
Is this really worth spamming?

BTT:
How's the new backend integration going? Any other news? For example an audit would be nice to have... or anything about the FRR situation. After all, you take a hefty percentage off of interest but it doesn't seem like the lower rates impact trading volume that much. How about charging less fees on non-FRR loans for example?

Aye, would be nice to hear some news about the new backend, and maybe get beta access to it.  I've been holding off on an update to MarginBot because I was expecting to be working with the new backend soon.

[tombtc]

Is it better to do Margin trading in fiat or btc? You can do both right?

[venomdog]

Could somebody please explain to me why I am seeing -ve profit at this moment.

I sold 8 BTC on base price under $246.40 on Trailing Stop of $2 when price was $248.40 and now when price is like $246.41 I see -$7.99, I mean no matter what happens even if price goes down to $246.1 I still see -ve P/L. Why so ?

Please help me fast I want to understand this : what price will be good for my position.

[kov]

Can anyone help me with the formula to determine the price at which a margin call would be triggered for a series of open positions?

For example:


-5 BTC available for trading (16.67 BTC available at max initial leverage)

-Open a short position for 9BTC @ $250/BTC => 55.55% initial margin
-Initial margin call expected to trigger at $478.13/BTC

-Trade goes against me, up to $275/BTC

-At this point, I want to open a second short position, still anticipating a decrease in price. I want to determine two things:
1) What is the largest new short position I could open? Would it require a weighted average margin of 30%?
2) What is the new price at which I'd expect a margin call if I max out my leverage?


EDIT: Nevermind - figured out the calculation. You have to build in the loss from the original trade and act as if you reset with a new trade in the cumulative amount of T1 and T2 total units.

[dscotese]

On the Withdraw page, the left part of the page has a table under which it is written, "This is your available balance. If you have limit orders, open positions, unused or active swaps, this will decrease your available balance. To increase it, you can cancel limit orders or reduce/close your positions."  The table indicates 0 for all columns of my Trading wallet.  To the right is my "Account Overview" for my Trading wallet, which shows 105.44 BTC.  I also have a short position of -14btc and two limit sells of 8btc each, for a total reduction of 30 btc in case all goes to hell.  So I should show about 75btc available.

Is this a bug, or is there some reason that my available balance in BTC is about 75 BTC short?

I sent this to support too, but I'm impatient :-).

[dscotese]

As you can see I had bought 11 btc on limit order with base rate of 228.83 and I placed short orders also of limit type on different rates.

1. Would trailing stop instead of limit order here made me better profit and how could I have achieved it.

A trailing stop SELL order may have made you some profit.  The logic of the trade is that it is a limit sell order at a price a certain amount below the highest price reached since the trailing stop was placed.  You enter the trade with the amount of distance you want to use.  A larger amount will require a bigger drop from the high.  Whether or not you'd get more profit depends on what the price did and how large a trail you choose.

2. Now price is $245 and say I set trailing stop sell order for $2 so does that mean my order will become active when price will fall to $243 and once its get active what will decide my profit price rise or price down and by how much price my order will be executed.

If the price doesn't go up from 245, but instead goes down (and maybe up and down, but never over 245) to 243, then yes, you will sell at 243 and that will determine your profit.  If it goes over 245, say to 247.10, then it will only have to fall $2 (to 245.10) for you to sell at that price (245.10 if the high was 247.10).

3. Same question like 2 but this time for trailing stop buy order.

If the price doesn't go down from 245, but instead goes up (and maybe down and up, but never under 245) to 247, then you will end up buying at 247.  If it does go down, say to 235 before ever recovering by $2 (to 237), then you will buy at $237.

I am missing a point here really and I need to understand that I can make profit even selling btc when I expect price to go low but then how can I make profit on short order by selling low, something doesn't make sense to me. Because I always thinks that I need to buy btc first beofre I can sell them and make profit when price is high, this whole idea of shorting when you got no existing long orders doesn't make sense to me.

Selling short means that you borrow BTC to sell.  If you don't have any BTC, then you need to have USD.  If you don't have USD or BTC, then you can't sell short.  If you do, then... Let's say you have 11 BTC.  You can sell short 11 BTC without borrowing (you borrow from yourself).  But with leverage, you can sell more, say 11 more for 22 altogether.  This means you've borrowed 11 BTC, and you will pay interest on it until you buy it back.  If the price goes up, you'll still pay interest, and take a loss when you buy it back for more than you sold it.

WARNING!  If you have 11 BTC and you sell 22 (your 11, plus 11 more that you borrowed), then you're using leverage and if the price goes up enough (they estimate the target price and call it "liquidation price"), then your position will be liquidated.  This means you'll buy 22 and pay for them from the proceeds of the (original) short sale, and since the price is higher now, you'll have to pay extra, and the extra will be generated by selling some of the 11 you had at first.

[atlosas]

Could somebody please explain to me why I am seeing -ve profit at this moment.

I sold 8 BTC on base price under $246.40 on Trailing Stop of $2 when price was $248.40 and now when price is like $246.41 I see -$7.99, I mean no matter what happens even if price goes down to $246.1 I still see -ve P/L. Why so ?

Please help me fast I want to understand this : what price will be good for my position.

Refresh the page

[WhatsBitcoin]

This site seems extremely confusing. Here is all I want to do.

I have 6 BTC I just deposited into my exchange account.

I want to sell those BTC for USD now and then in a couple days convert it all into BTC again and withdraw my BTC...how do I do this? All I see is $ numbers, no actual trading.

[venomdog]

This site seems extremely confusing. Here is all I want to do.

I have 6 BTC I just deposited into my exchange account.

I want to sell those BTC for USD now and then in a couple days convert it all into BTC again and withdraw my BTC...how do I do this? All I see is $ numbers, no actual trading.

I think what you need here is just exchange and not trading. So go to Exchange tab and put those 6 BTC for sale (of course on maximum price) and get your USD. And then hold on to this unless you decide to convert them to BTC, all you need to do is to buy BTC back from exchange (of course on cheap possible).

[noggin-scratcher]

This site seems extremely confusing. Here is all I want to do.

I have 6 BTC I just deposited into my exchange account.

I want to sell those BTC for USD now and then in a couple days convert it all into BTC again and withdraw my BTC...how do I do this? All I see is $ numbers, no actual trading.

• First, make sure your funds are in the Exchange wallet, not the Deposit or Trading wallets - you can transfer funds between them on the 'Manage Wallets' page
• Then open up the Exchange tab from the main page. There's a couple of things to specify to enter an order - the Amount (6 BTC) in the box in the centre, the order type from the little dropdown menu on the right-hand side - to sell immediately to the best offer you'd want 'Market', to wait to sell only if/when there's someone willing to pay a price you specify you'd want to use 'Limit' then enter a price. The 'Stop' types probably aren't needed for your intentions.
• Having entered your desired order details, click the big red button labelled 'Sell'
• A few days later, repeat the process but enter the details on the left-hand side of the page and click the big green button labelled "Buy"
  

[venomdog]

This site seems extremely confusing. Here is all I want to do.

I have 6 BTC I just deposited into my exchange account.

I want to sell those BTC for USD now and then in a couple days convert it all into BTC again and withdraw my BTC...how do I do this? All I see is $ numbers, no actual trading.

• First, make sure your funds are in the Exchange wallet, not the Deposit or Trading wallets - you can transfer funds between them on the 'Manage Wallets' page
• Then open up the Exchange tab from the main page. There's a couple of things to specify to enter an order - the Amount (6 BTC) in the box in the centre, the order type from the little dropdown menu on the right-hand side - to sell immediately to the best offer you'd want 'Market', to wait to sell only if/when there's someone willing to pay a price you specify you'd want to use 'Limit' then enter a price. The 'Stop' types probably aren't needed for your intentions.
• Having entered your desired order details, click the big red button labelled 'Sell'
• A few days later, repeat the process but enter the details on the left-hand side of the page and click the big green button labelled "Buy"
  

ah a visual explanation was needed here, didn't realized that. Good work. Cheers!!!

[Bagpipe]

I have a strange error.

I sold on margin some 10 LTC on LTCBTC pair.
Then I sold 10 more.

But I am holding a long position on 20 on LTCBTC pair.

WTF?!?!

Did the buttons malfunction or something?
Is this error related to the one where you click sell, while "Market" is selected and your order gets placed as LIMIT instead?

Actually, I checked the history and it says "LTCBTC    -10.0    0.007852"
Is that a sell order? then why am I holding a long position?

I checked the last 12 days of offer history and yep... only negative numbers in LTCBTC, yet, I hold a positive position.

You little rascals!

[rich93]

.......

Is this error related to the one where you click sell, while "Market" is selected and your order gets placed as LIMIT instead?

.........

How often does this error happen? How do you place a market order, is the only way to click sell, while "Market" is selected?