 |
November 11, 2017, 08:24:11 AM |
|
Hi. I was never able to correctly calculate the fees. But I agree with you, 15 % seems about right. Maybe it´s slippage, maybe because of market orders. One things for sure. It´s pretty damn hard to trade on BitMEX.
I will try to explain it in practical terms from my personal experience. I am speaking about the Perpetual Swap, not the Dec29 Future.
The calculator on the top left corner (next to "Place Order") gives you an estimation of your Profit/Loss (p/l) , but doesn´t take fees into account.
Having spent the last year on Bitmex, from what I read in the trollbox many short-term traders lose large amounts.
The higher the leverage, the closer your liquidation price gets. Given the recent volatility with priceswings of 20$/min, it is unlikely to trade profitable on 100x. You would really have to nail the tops and bottoms within a 10$ range.
Say you enter long at 6660 with 100x . At the time of writing, your liquidation price would be 6627.
In addition to that, the BitMEX Index Price is the price your liquidation price is set at. If you exit at market, you exit a BitMEX Index Price.
I have seen times where the quote price and Index price are as far as 20$ apart. This can give you an edge for a short period, depending on your prediction of direction. If you see the BitCoin price jumping, it usually takes a few seconds for the Index price to move accordingly.
It seems to me that marketorders are more expensive than Limit/Stop orders. The closer your takeprofit is compared to your entry price, the higher the fees will impact your P/L.
From my experience, even on 50x you need a 7-8% price move - in BitCoin - in your favor - to achieve realistic and economically feasable returns from a Risk/Reward Ratio standpoint
BitMex is a very sophisticated platform.
I am open for discussion, if anyone can explain it better please do, I want to learn this.
|
