Bitmex/Derebit for noobs - Leveraged Trading. Longs and Shorts!

[allmeat27]

Solid long. Took profit at 4250. Looking at 4120 here now maybe.

[allmeat27]

Took a bit of a hiatus. Bitmex cracked down on US users and the uncertainty of it made me pause a bit. I'm still using Bitmex a bit, but had to make new accounts.

I've switched primarily to Derebit (https://www.deribit.com/reg-4025.4455 for 10% off fees!). The fees are less there and there's no System Overloaded crap. However, the volume is much lower so it takes some getting used to.

Looking to long 3250 here.

[allmeat27]

Need to do a better job updating this! Been getting used to Derebit and not having to worry about system overload, has definitely altered mytrading strategy!

The long at 3250 was great, but took profit WAY too early. Currently playing swings. Possibly looking for a relong at 3650ish.

[pieppiep]

it looks like bitmex has very high price manipulation and lots of traders are trapped there, preferably for new traders who don't understand bitmex it's better not to use too much of your money to trade there.

[allmeat27]

Got in at 3720. Holding this until 3900 I think.

[Tr0p1k]

Leverage trading is like poker.. You can win a couple times, but on the end of the road you will lose eveeythin.. Dont trade with the money that you dont have..
Stop-loss strategy will not help you..

I learned my lesson 10 years ago with forex trading..
I was making good money and fast, but after a while i start beginning losing and lost everything..

Buy for a good price with the money that you have and hold.. If there is a bullrun look at the market if there is enough interest then hold untill the top and sell before the panic starts.. The trick is selling before everyone else and buying when everyone else sold and the last guys are standing to hold. If you can analyse that you can make money in this crypto market..

[allmeat27]

Took profit at 3770. Indicators needed a reset. Might try to relong at 3700.

[James678]

Why does everybody use bitmex for margin trading? You can use 10x-20x leverage on futures , you don't need to pay high comissions and they have application on mobile

[Omega Weapon]

I know that without a doubt the intention behind the OP is good, but leverage trading is not for newbies I will say that leverage trading is not even for traders with some experience, you need to have several years of experience before using such a dangerous tool especially in the market of cryptocurrencies were the volatility is already incredibly high and could make you lose all your money in a matter of hours.

[allmeat27]

Broke 3700. My next long is at 3525.

[allmeat27]

Feelsgoodman. Profit at 3900. Sitting out for a bit. This is unpredictable as hell right now.

[allmeat27]

Triangle is really tightening up. I'm really hoping for a 3650 but not sure.

[allmeat27]

Didn't quite get 3650. Bummed. Might look for 3700 now cause I missed it.

[allmeat27]

Taken a bit too long to hit 3700. Might move it lower. Possibly looking for 3620 now.

[allmeat27]

I'm really liking Deribit so far. Not having system overloaded problems completely changed my trading strategy for the better.

[allmeat27]

Too hungover to trade last couple days! I'm shorting 3900 here if it gets there. Would love for it to drop out of the sky to 3200 and start the new bull run.

[damberg]

Deribit has been so much better than Bitmex (at least for non-US traders). I have realized some shorts there recently and the market seems less manipulated and tricky for newbies.

[allmeat27]

Ouch. Nutty candle. I'm stuck at an average of 3980 but I'm EXTREMELY nervous for Bitfinex maintenance in 4 hours. Not sure what I'm going to do yet. Would love to close this ASAP.

[allmeat27]

Forgot to post but so much for being stuck at 3980! Great profit. I'm looking at 3550 then up right now.

[allmeat27]

Long at 3505 right now.