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Author Topic: [Guide] Trading on Bitmex  (Read 184 times)
kirreev070
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August 11, 2018, 01:37:53 PM
Last edit: August 22, 2018, 08:08:55 PM by kirreev070
Merited by Ben Shedly (2)
 #1

In this thread, I would like to write about marginal trading on the Bitmex exchange.
What is marginal trade? What advantages and disadvantages marginal trading have?
Marginal trading is one of the most highly tradable instruments in trading. Marginal trading exists at the expense of loans. In fact, you take a loan with a high enough interest to increase your leverage.
Trading with a leverage you multiply your funds. For example, took the leverage x25, you multiplied your position by 25 times.
Actually, this is the main plus of marginal trade. So at first glance, in a simple way, you can increase profits by 25 times (in the case of the example).
But do not forget, that the loss in this case also increases by 25 times.
This tool is one of the most profitable and one of the most risky for trading.
If you are a beginner then this way is too risky for you.

Why this exchange is the best one at this moment?
First of all, a large choice of the size of the leverage. Available options are x1, x2, x3, x5, x10, x25, x50, x100. I would recommend using x5, x10 or x25.
Lack of verfication. You can anonymously trade on the exchange.
A large volume of trading. (At the time of writing, the volume was $ 591,939,770)
Simple and intuitive interface.


The minuses of this exchange.
For myself, I singled out only two minuses:
Conclusion and replenishment of accounts in bitcoins.
Not too much choice of coins for trading. (At the time of writing, 8 coins are available).



In order to trade on this exchange, you need to register.



After registration, you will be taken to the main page of the exchange. This is your space for work.



In order to replenish your account, you will need to go to the "Account" section and select "Deposit" in it. The minimum deposit amount is 0.0001 XBT.



Then you will be sent to the window with the address of your wallet and you can add funds to your account.



After you have replenished your account, you can easily (or not) begin to conduct operations. As I wrote above, 8 coins are currently available (Bitcoin, Cardano, Bitcoin Cash, EOS Token, Ethereum, Litecoin, Tron, Ripple).
There are 7 variants of orders available for you:
Limit - in this order you need to enter the price yourself.
Market - in this order the price will be at the rate of the coin at the moment.
Stop Market - you can specify the price at which the position closes, at the price you want, which you specified in the order.
Stop Limit - is like a market stop, only then you must specify the purchase price.
Trailing stop - here you specify the distance from the current cost.
Take Profit Limit – it’s like a Stop Price, but conversely (price yourself).
Take Profit Market – it’s like a Stop Price, but conversely (price market).

I would recommend you use options with a purchase at market value, because with this tool you save your time.

Also on this exchange is available a game for a fall. What is not on all exchanges.



For example, I bought 1 contract at market value.




When you purchased it and it was executed, it is displayed below the main page of the exchange.



Also, you can use margin to increase or decrease risks.



If you are satisfied with your profit, then you can close your position. This can be done at the bottom of the main page.



This thread was created for evaluation purposes.

Disclaimer
Remember margin trading is a very risky tool. The author is not responsible for your losses and winnings.


Also I will be grateful for Merit

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2@abcdeeply
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August 11, 2018, 02:56:14 PM
 #2

If you want to transact where there are many people with very detailed video sharing, you can go to youtube learning, people share it very specific and detailed to you learn.
Awesomus Maximus
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August 11, 2018, 03:04:16 PM
 #3

Thanks for this introduction into Bitmex trading even though it's not my cup of tea. Too risky for my taste, too much like gambling.

A couple of quick questions:

Quote from: kirreev070
First of all, a large choice of the size of the leverage. Available options are x1, x2, x3, x5, x10, x25, x50, x100. I would recommend using x5, x10 or x25.
If you stay at x1, does it work like any other normal exchange?

Quote from: kirreev070
In order to replenish your account, you will need to go to the "Account" section and select "Deposit" in it. The minimum deposit amount is 0.0001 XBT.
What's this XBT symbol? Is it their internal currency, or it has any other meaning?

Are there limitations in terms of citizenship, or everyone is allowed to trade?
kirreev070
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August 11, 2018, 03:23:37 PM
 #4

If you stay at x1, does it work like any other normal exchange?
Yes, you are trading your money without using credit money

What's this XBT symbol? Is it their internal currency, or it has any other meaning?
XBT it's Bitcoin.

Are there limitations in terms of citizenship, or everyone is allowed to trade?
No, this is an anonymous exchange, verification is not necessary.
Tytanowy Janusz
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August 11, 2018, 04:40:02 PM
Last edit: August 11, 2018, 05:14:46 PM by Tytanowy Janusz
 #5

A large volume of trading. (At the time of writing, the volume was $ 591,939,770)


On your second photo you can see that 24 h volume is more than 5 678 000 000 (one 0 more ). That makes it biggest exchange to bet on bitcoin price. Thats why i check price change there. Biggest volume makes it rule the price.

I didnt see it in your post but you dont trade BTC there. You only bet if price will go up or down.

Bitmex shows liquidations as allert (for example if price go -1% and you bet on x100 leverage exchange will automaticly sell and leave you without money). Its so interresting to watch that. When price is pumping a little and then moon due to launch of overleveraged position and you see


I've seen manny times liquidation of position bigger than 5 mil $.

And you know that someone just lost all money put into this bet. This also helps understand market price moves better. When something is mooning in 1 huge green dildo its most often not fomo or 1 big investor. Its stoploses on shorts or short liqiudation from short squeeze attack.

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kirreev070
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August 15, 2018, 05:56:48 PM
 #6

Someone send 18000BTC today on Bitmex

atrocityx
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August 15, 2018, 06:36:43 PM
 #7

I really like the idea of bitmex (within proper responsible margins) but I can't wait for decentralized protocols to make this possible... I still have a suspecting suspicion that bitmex countertrades its own users by using their stop information  and the site although brilliant, just seems very fishy to me.  Still though.. nothing like the "mex" to get that blood good and pumping Cheesy

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