A trader's diary - my Bitmex journey

[N0sferatu]

Daily summary #9

Current balance updated in the OP.

Sentiment:

- bullish
- price swinging between 7900$ to 8400$
- expecting a new high up to 8700$



Open position:



Filled orders:



Active orders:



Made a small profit of around 0.0008 BTC.

2 Dojis followed by a Dragonfly and another Doji, and currently we can see a new red bar forming.
If this gets confirmed by additional red candles, we might see a "bearish checkmate".

Yesterday's prediction didn't get confirmed. Hooray!  
Instead, the price jumped back immediately and we did retest the upper resistance near 8400$ later.
It looks like the bulls still have enough power to go further.

I was able to build up a position near the 8000$ mark again.
I am going to leave it open until we hit a new high or if the market seems undecided again.


Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

[N0sferatu]

Daily summary #10

Current balance updated in the OP.

Sentiment:

- sideways
- price swinging between 7000$ to 7300$



Open position:



Filled orders:



Active orders:



Made a loss of around -0.022 BTC.

(yesterday's position was liquidated)

The market indeed was very undecided before i went to bed.
Because of that, i cleared all of my buying orders before - good move, the whole position would have been wiped out by that 6380$ candle this morning!

The earlier predicted lower target of 6800$ seem plausible again.

I deleveraged my new position to keep me away from another liquidation.
Can't tell how low the price may go!



Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

[bonker]

It's really amazing trade just came to tell his story and share his experience expected things are not happened while we are trading but at the end it is the way of making the income for me so I am happy to be traded and involved in the cryptocurrency field.

[Mr_Akbar]

The drop down on Bitmex was pretty wicked, whole place locked up for liquidation after liquidation.

I happened to be in a short down from 7800, I expected a drop but that was something else.

Love the volatility!

[N0sferatu]

It's really amazing trade just came to tell his story and share his experience expected things are not happened while we are trading but at the end it is the way of making the income for me so I am happy to be traded and involved in the cryptocurrency field.

The drop down on Bitmex was pretty wicked, whole place locked up for liquidation after liquidation.

I happened to be in a short down from 7800, I expected a drop but that was something else.

Love the volatility!

Exactly, the volatility and corresponding possibilities to make an extra income are an amazing thing. Though a more stable market would probably attract more 'traditional' investors and therefore increase the cash flow exponentially!

Nice to see you were able to make a profit from the sudden drop!   

I'm currently waiting for clear signals. Until then, I will probably just keep the position open. Risk management is one of the most important things as a trader - having patience is key to success.

[N0sferatu]

Daily summary #11

Current balance updated in the OP.

Sentiment:

- sideways to bullish
- price hovering around 7300$



Open position:



Filled orders:



Active orders:



Made no profit or loss today.

As you may see, my filled & open orders haven't changed since yesterday.
I'm taking a little break on weekends - especially in market situations like we're currently in.  

The 8000$ mark has already been a barrier several times in the past, so i guess we're going to need some time to break it.

The candles are looking a little more bullish again, but this needs to get confirmed in the upcoming days.
Until then, i'm going to slowly grow my position and probably increase the leverage again.



Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

[N0sferatu]

Daily summary #12

Current balance updated in the OP.

Sentiment:

- sideways to bullish
- price swinging between 7900$ to 8100$
- possible peaks to 8500$



Open position:



Filled orders:



Active orders:



Made a profit of 0.012 BTC today.

Pretty unexpected sudden rise again. Was very happy to stand up this morning. 

Took the profit and re-opened a position.
It's possible that we're going to hover around the 8000$ mark for some days again, so i believe there will be some trade opportunities in the next week.

I am going to reveil my 2nd Bitmex account in the upcoming days!


Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

[Vispilio]

this is turning out to be an impressive thread, I'll be checking back regularly...

The recent downswing to 6380 was wicked on XBT, to be a discretionary high frequency trader and to succeed in controlling your loss to eventually come out ahead through those circumstances shows good strength in your trading, well done.

[N0sferatu]

this is turning out to be an impressive thread, I'll be checking back regularly...

The recent downswing to 6380 was wicked on XBT, to be a discretionary high frequency trader and to succeed in controlling your loss to eventually come out ahead through those circumstances shows good strength in your trading, well done.

Thank you for your kind words.   

Allthough i could have done better!

What a great journey... Anyway you survived. Besides, do you have any idea for eFintech.life which provides macro-level arbitrage?Thank you!

I have never heard about this website and a quick search shows poor reputation. There are almost zero reviews and arbitrage opportunities in general seem to be a hoax.
I wouldn't put a penny into this - but better do your own research. 

[N0sferatu]

Daily summary #13

Current balance updated in the OP.

Sentiment:

- sideways to bullish
- price swinging between 7600$ to 8100$



Open position:



Filled orders:



Active orders:



Made almost no profit or loss today.

Neither my sell order at 8346$ nor my buying order at 7540$ have been triggered.
So close, yet so far! 

As the market wobbles, i am building up my long position.
I decreased the leverage - just to be sure it won't get liquidated that easily.

I see the current situation as a good opportunity to buy in - i'm still expecting new peaks & highs in the next days.
Not much power from the bears so far.


Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

[Gyrsur]

keep up the good work! 

[eternalgloom]

Really interesting to follow and looks like you're doing pretty good actually!
Just don't end up like that one guy who lost his life savings on Bitmex and posted about it on 4chan, that thread was a complete trainwreck

Link if anyone's interested:
http://boards.4channel.org/biz/thread/13581019/this-cant-be-happening

[Indamuck]

Congratulations on your current profits and I'll admit I'm kinda scared to trade on Bitmex.  I've seen too many people lose it all with high leveraged positions.  I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times.

[dark08]

You made a good trade OP from the start until now I see some losses but not huge one, I'm always follow your day trade by the way I'm no longer trading/visiting Bitmex since the last time I got liquidated but when I see your day trading  I'm inspire to back in margin trading but its risky to make a 10x leverage Im going to cross trade.

[1Referee]

I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times.

Is the manipulation you're referring to their in-house trading/market making? It's pretty odd for sure, but I honestly believe that most exchanges trade against their users. It's unethical in my opinion because of the advantage they enjoy over the rest, and that in every possible way, but since there isn't much oversight from regulators, exchanges have all the freedom they need to continue doing this.

As for Bitmex having to deal with slippage, that applies to every single exchange in crypto. Bitmex's books tied to the main trading pairs enjoy the highest level of liquidity in the space.

[N0sferatu]

Daily summary #14 & 15

Current balance updated in the OP.

Sentiment:

- sideways to bullish



Open position:



Filled orders:

Nothing has changed.

Active orders:

Nothing has changed.

Made almost no profit or loss the last 2 days.

Sorry for being absent a whole day! I was a little busy lately.

As the market is still moving in a very tight range, I don't feel comfortable to trade or close my position.
I prefer to wait for the next move.

Tomorrow there will be a more detailed summary again. 

Thanks for joining me in this journey @ all!

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

[N0sferatu]

Daily summary #16

Current balance updated in the OP.

Sentiment:

- sideways to bearish
- price is building up stronger support zones



Open position:



Filled orders:



Active orders:



Made a loss of about 0.0006 BTC over the past days for maintaining my position.

The price is still going down slowly.
My buying order got filled this morning - i decided to clear the remaining ones and instead decrease my leverage again, in case any major downwards movement happens.

This seems more safe to me in the current market. My position is going to play out with the next bigger green candle, so i'm not worried.

keep up the good work!  

Congratulations on your current profits and I'll admit I'm kinda scared to trade on Bitmex.  I've seen too many people lose it all with high leveraged positions.  I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times.

You made a good trade OP from the start until now I see some losses but not huge one, I'm always follow your day trade by the way I'm no longer trading/visiting Bitmex since the last time I got liquidated but when I see your day trading  I'm inspire to back in margin trading but its risky to make a 10x leverage Im going to cross trade.

Thank you all!  

Well Bitmex is not that scary if you start with a very small leverage like x2 or x3. BTC would need to drop 33% (or 50% @ x2) to get your position liquidated. It's definitely worth a try!

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

[N0sferatu]

Daily summary #17

Current balance updated in the OP.

Sentiment:

- expecting any major movement in the next 24h
- overall bullish




Open position:



Filled orders:

Nothing has changed.

Active orders:

Nothing has changed.

I didn't make any profit or loss today.

My position is going to play out with the next bigger green candle, so i'm not worried.

So, here we are again - back at the 8000$ support zone.
The market is behaving as expected now, so i'm just waiting to sell my position at the best possible price.

I don't want to go to deep into technical analysis (as it's only a small aspect of my trading strategy), but i'd like to share my idea on this one:



As you can see, we're currently moving around the upper zone of the Bollinger band, which is usally interpreted as a signal to sell.
Actually i believe it works differently.
The Bollinger Bands are lagging just like any indicator, so it just shows what has already happened. So, the band is formed by the trend of the price, not vice versa!

Also, the band is squeezed currently, so i'm expecting any major price movement to get it inflated again!

Happy trading & thanks for following! 

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

[Gyrsur]

Profit since the opening of this thread: 0.0592 BTC

Profit since the start of my journey: approx. 0.1668 BTC

Current ROI > 1200%


Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
[/center]

TOP!! have a nice weekend.

[N0sferatu]

Daily summary #18

Current balances updated in the OP.
Profit & ROI updated.
Added 2nd Bitmex account!


Sentiment:

- overall bullish
- price swinging between 7950$ to 8150$
- still waiting for greater movement




Open position:



2nd account:



Filled orders:



Active orders:



Made a profit of 0.0018 BTC today.

Bitcoin is still struggling to rise to new yearly highs.
Though i see no signs of reversal, so my sentiment remains bullish!

I took some profits. Didn't change the leverage and am not going to increase my position size at the moment.

Today is the day! I added my 2nd Bitmex account, which was funded with 0.03 BTC by my primary account on May 10th!

You may notice my withdrawal - i funded my 2nd Bitmex account for another "strategy". Going to add that one in the next days!

This account is part of my risk management.
Probably the most important aspect for any trader, broker etc.

For me, it is the ultimate response to the question: Take Profit or keep the position open? (Bitmex)

Most of the time i am going to keep my positions open until my unrealized PNL gets extraordinarily high.
My leverage will usally be lower compared to my primary account.
I also opened a ETH/USD position for diversification!

Until now, i was already able to double the balance!

Current ROI > 1200%

TOP!! have a nice weekend.

Thank you! Updated!  

Current ROI > 1400%

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.