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Author Topic: Wow... IT's not good choice to use bitmex margin trading...  (Read 334 times)
epple1234
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February 04, 2018, 07:17:38 AM
 #1

I lost -100%...Because of MARGIN TRADING..(BITMEX)

i take position short ..leverage x100 at 8300$...But btc go 8500...i got margin call..i get 0 balance..and btc fall down 7500$...
WHAT THE HELL IS THAT..If i didn't get margin call..i probably get x15 profits...but now zero............................
i lose and lose it again...and finally all of my mental broken..If anyone could help me...plz....
So sad...heeeelllllllpppppp

3BMEX3gx71EATpKHp5Ruhbueu9brYyVBXn  BTC>>>>If so,,,i'll try margin again at lower risk..and finally i believe btc go moon soon..I can't wait..now korea bank make me hard to deposit money in crypto..
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Stratobitz
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February 04, 2018, 07:38:57 AM
 #2

You were trading at 100:1 margin.

I think it need not even be said; but I'll say it. That's reckless trading unless you somehow know exactly where the market is going to move.

And unless you had a large account balance with only a small position in place, a margin call could happen in the blink of an eye.

Stock Exchanges offer Margin at a 2:1 ratio, or a 5:1 ratio if you are lucky.

100:1 is like playing the lottery, or with fire. BTC is highly volatile. Even in an upswing from 10,000 to 10,300 which occurs in minutes; a dip to 9,890 could easilly happen, if only for a second, and then correct back to above 10,000 and up to 10,300.

That "blip" in the trading pattern; would trigger your call.

I'd suggest you use Bitmex's Testnet.

They have a fully featured Testnet version of their main platform, and will by faucet let you obtain 3-4 BTC of testnet BTC.

Learn to trade on various margin levels, managing your liquidity, stop limits, and so on.

Sorry to hear that; but 100:1 is again a huge gamble. It's playing with fire.

Live and learn, we all make mistakes. Trade safe moving forward.

Strato
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February 04, 2018, 03:01:02 PM
 #3

it's incredible how easier is to lose everything on bitmex than doing some gain.
I've done 5 testnet trades and I lost everything in 4 out of 5.

and, very bad thing, when the last futures expired I wanted to place a long position, and right in that moment "system overloaded could not process order"...

I think it's impossible to place an order every time there is a clear market movement
Fidemoga
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February 04, 2018, 03:19:05 PM
 #4

Margin trading is general not a good idea, because you not only can loose multiplied amounts, but also the lending position, that can go up to 4% a day. So when you want to trade, do it on exchange section. There you know, what you own and needn't pay high additional costs.
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February 05, 2018, 04:45:13 PM
Merited by richardsNY (1)
 #5

it's incredible how easier is to lose everything on bitmex than doing some gain.
I've done 5 testnet trades and I lost everything in 4 out of 5.

and, very bad thing, when the last futures expired I wanted to place a long position, and right in that moment "system overloaded could not process order"...

I think it's impossible to place an order every time there is a clear market movement

You only stand to lose everything if you risk everything, and do so making high leverage trades.

You have to maintain liquidity by using their "Risk Limit" setting. If you are trading at 100:1 Leverage, the setting has to be set at 200, which is the lowest risk limit and allows for the highest leverage offered.

Leverage can be a powerful tool if you know what you are doing. I wouldn't recommend doing 100:1 trading, but 25:1 or 40:1 leveraged trades can work well as long as you are placing orders that won't wipe your balance to zero on a large swing. Also if you for instance go long on XBT (BTC/USD); and the price drops, you can always add to your position which will lower your Liquidation Price.

Painting the tape before jumping into a live position is also a way to minimize risk; painting either up or down depending on if you are long or short. After you've set your trading spread buy orders, you can enter in using either a limit order or market order.

But just taking your balance, buying in at a long or short position and praying that the price moves favorably is not how traders make money.

You also have to have a solid understanding of how the margin interest is calculated, and what the margin requirements are. You need to make sure you have a workable liquid balance to buy into a trade that goes sharply goes negative unexpectedly.

And last; learning how to guage market direction based of RSI, and other indicators; not just eyeballing the candlestick chart, can make BitMex's service and their high leverage offerings a valuable tool to use when the timing is right.
 
In terms of timing; today a 40 Million USD dump occured on Bitfinex. I just happened to be at my workstation and noticed the plunge. I was able to set up a number of high leverage trades in the 10-30 minutes after the initial sell of; and ended up with a 70% ROE from my positions, nearly doubling my bitcoin.  Not bad for 30 minutes of work.

BitMex is among the best in terms of fees and volume is good.

Cheers!

Strato
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April 13, 2018, 08:38:02 AM
 #6

BITMEX is the biggest bagger exchange and rip off I've ever seen.
With a little bit of increased volume , any order I submit gets the submition error due to high volume.
Unable to submit.
What bullsh*t is this ?
Limit-order , Take Profit Limit orders and yes , even market orders.
Always in a range where a trade could be succesfull , disguisting it is !
Hardly impossible for immediate executing , those orders are accepted immediately and don't get the error.
This is a kind of manipulation , never seen before..
I don't like crypto regulation but SEC should come and take a visit here.
Madoff kept his practices hidden , Bitmex does not even think this is necessary.

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June 30, 2018, 01:08:13 AM
 #7

The problem with margin trading, on a centralised no transparent platform, is the people running it or it staff can see all your positions and have some code to just pick you off around the margins.

years ago I once had an oanda test account and it did not matter where I put the buy or sell the price just magically missed them all the time, and if I had a stop loss it was executed and then market reversed.

In retrospect, I should have opened two accounts and do exactly the opposite trades on each just to see what happened.

In any event centralised margin trading you're fucked.

even in a decentralised exchange you have the issue of not decentralized exchanges having most of the volume atm so your collateral damage.

In some senses, this is why hodl is better than trading because trading is rigged until most of the volume is on decentralised exchanges where you can verify everything is legit in split seconds like on chain gambelling you can mathematically verify the house edge.

Hodl relies on the fin/tech s curve of btc, which in my view as around 2 orders of magnitude to go.

The hard work is behind btc but the last 2 orders make the value!

Admitted Practicing Lawyer::BTC/Crypto Specialist. B.Engineering/B.Laws

https://www.binance.com/?ref=10062065
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June 30, 2018, 02:53:21 PM
 #8

In some senses, this is why hodl is better than trading because trading is rigged until most of the volume is on decentralised exchanges where you can verify everything is legit in split seconds like on chain gambelling you can mathematically verify the house edge.

By the time the average joes find out that trading doesn't lead to anything but losses, they have burned through their balance already.

People's problem is that they are chasing an income stream resulting in actual gains instead of virtual gains. Holding isn't doing anything for you technically; your 1BTC will always remain that, regardless of the price. Everything people do related to trading, investing in interest schemes, cloud mining, is all done to increase their coin count. It's impossible to convince them to think otherwise; the past years serve as evidence that things have only become worse.

BitMex is a casino and not an actual exchange, but one that can't thrive on just its house edge like regular casinos do; the only way for them to survive is to cheat. If they were a honest business, they wouldn't exist by now anymore.


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dkbit98
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June 30, 2018, 07:35:10 PM
 #9

Is there any decentralised margin trading exchange ?

If not...than first one to create this wil have good volume


exchange.blue
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July 23, 2018, 03:20:08 PM
 #10

I lost -100%...Because of MARGIN TRADING..(BITMEX)

i take position short ..leverage x100 at 8300$...But btc go 8500...i got margin call..i get 0 balance..and btc fall down 7500$...
WHAT THE HELL IS THAT..If i didn't get margin call..i probably get x15 profits...but now zero............................
i lose and lose it again...and finally all of my mental broken..If anyone could help me...plz....
So sad...heeeelllllllpppppp

3BMEX3gx71EATpKHp5Ruhbueu9brYyVBXn  BTC>>>>If so,,,i'll try margin again at lower risk..and finally i believe btc go moon soon..I can't wait..now korea bank make me hard to deposit money in crypto..

You were wiped out my the market maker on purpose for reckless trading.
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July 24, 2018, 05:26:12 PM
 #11

Is there any decentralised margin trading exchange ?

If not...than first one to create this wil have good volume



Digitex Futures will have it, a futures exchange with zero fees and decentralised account balances which launches in Q4
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September 25, 2018, 07:56:36 AM
 #12

Mate you have to use Stop loss and do it in a proper way. This is not easy and I did a lot of mistakes on the begining as well.
https://www.ministryofmargintrading.com/explained-guides-how-to-tutorials/how-to-set-up-correctly-stop-loss-on-bitmex-to-avoid-liquidation
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September 25, 2018, 12:31:59 PM
 #13

Margin Trading is very risky.

With companies like Bitmex (nothing better than the CFD trading) with which you get a ridiculous leverage amount, always win in the end.

Even using features like stop-loss do not guarantee that it will close the trade at the exact set price (this they call slippage).

Do not believe the fake stories about the huge profits that can be earned with margin, it's a tricky business and if you do not have a ton of experience or luck, you will lose everything.

If you insist on continuing with leverage (which is not the smartest thing as you just fatten the purse of bitmex), enter small amounts and make sure that you have enough balance to support negative movements. You can try the 20/80 rule. 20% investment and 80% as backup to support negative movements.
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November 04, 2018, 04:13:57 AM
 #14

One expert on margin trading recommended me to long Bitcoin Cash 30x when its price was 425$. Did not believe in him when I saw the total crypto markets were in red. I missed a good chance.
He told me, chances like that come weekly, he suggested to continue long on Bitcoin Cash 5x-10x leverage even when its price is around 500$ now.
Target 1: 519$, target 2: 534, Target 3: 579$. Hold for some days or even weeks. Stop-loss at 479$ and reentrance at 461$. Good luck!

The only place that you can leverage BCC/USD now is at Bitseven. Remeber that BCC/BTC on Bitmex has another outcome.


I do not respond for any of your loss. You own your risk. Never trade with fund that you're not affordable to lose all. However, I welcome any tips or donation if you win big Smiley



 
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