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

[Ente]

..one more question about training stop orders:

In case of a trailing stop, will the sell price be lowered when the exchange rate slowly goes down? Or will the trailing stop price be monotonous, like always rising or at least staying the same?

How fast, how often, when, is the price updated? With every trade, or the average of x minutes, or the high of y minutes?

And now the tough question:
With a trailing stop order, I am guaranteed to eventually catch a dib down. And, once I use a trailing stop, and it is executed, I can guarantee the price will rebound. If I don't use any "security net", the same dib will prove to be ste beginning of a ten-year downtrend. What do? 

Ente

Hello Ente,

So, no the price of a trailing stop sell order will never go down. It is updated with each tick: if the tick is higher than the previous, the trailing stop price is updated higher. If the tick is lower, the trailing stop price stays the same. Until the order is eventually triggered like a normal stop order.

For your last question, I would say the best thing to do is to set the price distance high enough to avoid small dip. Of course, it make the losses higher, but avoid you false dip. It is a balance that you have to find depending on what you are comfortable with.

On other news, you can see that recently we broke our record of lent dollars, and the rate is very high. Don't miss this opportunity, traders need your dollars!

have a nice day all
Raphael
Bitfinex team

Thank you for your explanation, Raphael!

Yes, 100 to 200% (insured!) rates are pretty insane! And lucrative :-)

Ente

[capoeira]

Thank you all, I don't think I have any reason to not trust Bitfinex.

I don't know how experienced you are, Tamis. I would suggest to trade with 10% of your Bitcoins only, for a start. And maybe with a token amount only until you figure out how all those functions work. They are all well documented, but you still has to wrap your head around them. And then there are details, like for example "what lending gets automatically closed when I sell?" which you simply have to try out. With 0.01 BTC for example.
So, no, I don't see BitFinex as the risk here, we ourselves are the risk for our Bitcoins ;-)

Seeing how bullish the market is I don't think I really risk anything at the time being !  I went to Bitfinex to get stop orders I couldn't use on Bitstamp.
I entered at 86$ stop is a 123ish.

Nice! :-)

Question about stop-loss in general:
Lets say I have a large volume margin position, and enter a stop loss. When exactly is it executed? Like, for example, stop loss at 123, at a volume of 1000 BTC? There would not be enough volume at 123. Would the system start at 126 BTC/USD exchange rate, so it closed the position when reaching 123? Or would it start closing at 123, which might not finish selling until the exchange rate dropped to 120?



Ente

Ente

The stop loss would be triggered at 123 USD, more specifically if the bid is at 123 for a sell stop, if the ask is at 123 for a buy stop.
So yes, you can have some slippage if the order is large enough, because it's impossible to calculate the depth beforehand.

I hope that helps

Have a good sunday

Giancarlo
Bitfinex Team

one thing is not clear to me:



I have a stop loss at, let's say 120.00

when Bitstamp highest bid is at, let's say 120.20.....A Bitfinex order at 120.00 is above that, and so my stop will be triggered


now the question; If I route my stop to Bitfinex, in the case above my stop get's triggered? Or only once there is a highest Bitstamp bid at 120.00?

up

[arbitrage001]

I don't seem to be getting any interest on the money I loan out yesterday.

Anyone having the same issue?

[Sukrim]

Interest is paid at midnight GMT (+ a few minutes, usually 5-10). Depending on your time zone, "yesterday" could still be "today".

[Progressive]

I don't seem to be getting any interest on the money I loan out yesterday.

Anyone having the same issue?

I'm also not seeing the "Interest Payment on wallet deposit", it should have appeared 7 hours ago.

[arbitrage001]

Interest is paid at midnight GMT (+ a few minutes, usually 5-10). Depending on your time zone, "yesterday" could still be "today".

Interest normally pay on the exact same hour and minute everyday except today.

[urwhatuknow]

Hello everyone,

Last night some of our lenders did not get their interests credited due to a glitch.
However don't worry, your interests are still here and will be credited tonight along with your interests of today.

The calculation and the payment of interests are two separated tasks in the code, so you have the safety that if interests are missed one night, they will be credited the next day.

Approximately a quarter of the lenders are impacted.

Sorry about the inconvenience and have a good day

Giancarlo
Bitfinex Team

[arbitrage001]

Was wondering who paid 360% on many of my loan.

Is margin trading really that profitable?

[01BTC10]

Was wondering who paid 360% on many of my loan.

Is margin trading really that profitable?

If you don't know what your doing when placing an order then you take any loan available.

[capoeira]

Thank you all, I don't think I have any reason to not trust Bitfinex.

I don't know how experienced you are, Tamis. I would suggest to trade with 10% of your Bitcoins only, for a start. And maybe with a token amount only until you figure out how all those functions work. They are all well documented, but you still has to wrap your head around them. And then there are details, like for example "what lending gets automatically closed when I sell?" which you simply have to try out. With 0.01 BTC for example.
So, no, I don't see BitFinex as the risk here, we ourselves are the risk for our Bitcoins ;-)

Seeing how bullish the market is I don't think I really risk anything at the time being !  I went to Bitfinex to get stop orders I couldn't use on Bitstamp.
I entered at 86$ stop is a 123ish.

Nice! :-)

Question about stop-loss in general:
Lets say I have a large volume margin position, and enter a stop loss. When exactly is it executed? Like, for example, stop loss at 123, at a volume of 1000 BTC? There would not be enough volume at 123. Would the system start at 126 BTC/USD exchange rate, so it closed the position when reaching 123? Or would it start closing at 123, which might not finish selling until the exchange rate dropped to 120?



Ente

Ente

The stop loss would be triggered at 123 USD, more specifically if the bid is at 123 for a sell stop, if the ask is at 123 for a buy stop.
So yes, you can have some slippage if the order is large enough, because it's impossible to calculate the depth beforehand.

I hope that helps

Have a good sunday

Giancarlo
Bitfinex Team

one thing is not clear to me:



I have a stop loss at, let's say 120.00

when Bitstamp highest bid is at, let's say 120.20.....A Bitfinex order at 120.00 is above that, and so my stop will be triggered


now the question; If I route my stop to Bitfinex, in the case above my stop get's triggered? Or only once there is a highest Bitstamp bid at 120.00?

up, number 2



I realy need an answer to this, as I put my stop losses over/under order walls....Would be fatal to have stop loss triggered before that specific wall falls

[superbit]

Was wondering who paid 360% on many of my loan.

Is margin trading really that profitable?

If you don't know what your doing when placing an order then you take any loan available.

That's less then a percent a day, BTC can certainly move more then that.

[arbitrage001]

That's less then a percent a day, BTC can certainly move more then that.

If it is that easy to trade to gain more than 1% profit per day. Many would be doing it right now.

[superbit]

That's less then a percent a day, BTC can certainly move more then that.

If it is that easy to trade to gain more than 1% profit per day. Many would be doing it right now.

I never said it was easy, but the volatility is certainly there some days to make money on a 300+% loan.

[unclescrooge]

one thing is not clear to me:



I have a stop loss at, let's say 120.00

when Bitstamp highest bid is at, let's say 120.20.....A Bitfinex order at 120.00 is above that, and so my stop will be triggered


now the question; If I route my stop to Bitfinex, in the case above my stop get's triggered? Or only once there is a highest Bitstamp bid at 120.00?


up, number 2



I realy need an answer to this, as I put my stop losses over/under order walls....Would be fatal to have stop loss triggered before that specific wall falls

Hello capoeira,

In both case, no matter the routing, the stop loss will be triggered by the ticker bid. So even if you route to BFX at stop loss order at 120, if there is a bitstamp bid at 120.2, your stop loss won't be triggered.

Let me know if it answers the questions
Best regards
Raphael
Bitfinex team

[capoeira]

one thing is not clear to me:



I have a stop loss at, let's say 120.00

when Bitstamp highest bid is at, let's say 120.20.....A Bitfinex order at 120.00 is above that, and so my stop will be triggered


now the question; If I route my stop to Bitfinex, in the case above my stop get's triggered? Or only once there is a highest Bitstamp bid at 120.00?


up, number 2



I realy need an answer to this, as I put my stop losses over/under order walls....Would be fatal to have stop loss triggered before that specific wall falls

Hello capoeira,

In both case, no matter the routing, the stop loss will be triggered by the ticker bid. So even if you route to BFX at stop loss order at 120, if there is a bitstamp bid at 120.2, your stop loss won't be triggered.

Let me know if it answers the questions
Best regards
Raphael
Bitfinex team

I actually meant "routed to Stamp"....but I guess my question is answered anyways

[masterluc]

I don't understand landing offers for 2-5 days max. What trader can do within such timeframe?

People, please offer 30 days+ lendings.

[Sukrim]

Whenever someone puts in a borrow request for e.g. 365 days, they are either laughably small or (if they are high, like in the recent interest spike) get repaid  and replaced by cheaper rates after a few hours.

I decided to stick to VIR, as anything that is lent out (even and especially on request(!)) with manual rates tends to suck and gets closed pretty fast and is hard to re-lend out due to changing rates.

[prophetx]

so you guys are using bitfinex without any issues?  just wondering as  i have had an account for a while and given issues at other places, i am wary of trying out other services

[superbit]

so you guys are using bitfinex without any issues?  just wondering as  i have had an account for a while and given issues at other places, i am wary of trying out other services

I've been using it for 6 months now never had an issue, but that is just my experience, can't speak for others.

[Ente]

so you guys are using bitfinex without any issues?  just wondering as  i have had an account for a while and given issues at other places, i am wary of trying out other services

Technically, all working fine here for months.
It's things like slippage, flashcrashs, margin calls which may make your trading-life miserable. Which has nothing to do with the platform itself ;-)

Actually:
A few times I put up "borrow offers", where I meant to put up "lending offers". Did I accidently choose the wrong drop-down entry? May very well happen from time to time. Or did anyone experience similar things? Maybe three times now, in the last one, two weeks. Never happened before.

Ente