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Author Topic: I want to daytrade on bitmex with leverage  (Read 209 times)
carter34
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August 18, 2019, 12:38:54 PM
 #21

If you are considering x10, depending on your trading pattern, it left as your decision but what I'm sure about day trading is that you don't use a longer time frame to judge your market , this means that you wouldn't be staying in the market for long.

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August 18, 2019, 09:53:47 PM
 #22

I haven’t traded with this broker to know how good it is but I feel that there are for sure better options available and ones that could be used. I prefer Crypto Brokers, as this way you can get so much room to work nicely with and gives you serious comfort. But it’s really down to everyone’s own wish and comfort, it just not make sense to go in just because of any suggestion, it’s never a good idea at all to go with.
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August 25, 2019, 09:08:53 AM
 #23

Looks like you are overwhelmed by hope (false hope maybe)
Hope you take your time to learn leverage trading to avoid costly mistakes.
I would advice you to to give yourself some weeks and learn how the trading works. Learn all the risks, advantages and disadvantages. 
Leverage trading doesn't always end well. So be good.



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August 26, 2019, 05:45:02 PM
 #24

It's kind of pointless to seek an advice for a working strategy here because the most important thing while trading is not your strategy but your character.
If you want a better advice tell more about yourself.
I know people who scalp very efficiently with x100 leverage (cross) and do it consistently with very good returns and reasanoable losses and people who destroy their depo losing everything on stops with "safe" x5-x7 leverage.

Your trading is an extension of your character. You should create your strategy around that.

From my experience the most successful traders are not day traders (this really kills your health pretty quickly unless you really know how to control and discipline yourself) but long term traders with pyramiding strategy. Those get insane returns.
If you have the patience and consistency for pyramiding , its absolutely the best.
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August 27, 2019, 11:22:11 AM
 #25

It's kind of pointless to seek an advice for a working strategy here because the most important thing while trading is not your strategy but your character.
If you want a better advice tell more about yourself.
I know people who scalp very efficiently with x100 leverage (cross) and do it consistently with very good returns and reasanoable losses and people who destroy their depo losing everything on stops with "safe" x5-x7 leverage.

Your trading is an extension of your character. You should create your strategy around that.

From my experience the most successful traders are not day traders (this really kills your health pretty quickly unless you really know how to control and discipline yourself) but long term traders with pyramiding strategy. Those get insane returns.
If you have the patience and consistency for pyramiding , its absolutely the best.
I think that we need to be extremely careful not to mislead a man with some personal believe and some advises because scalping and x100 leverage? I am not sure they will go hand in hand, because leveraging that high is a risky venture and if you say it should be done through scalping.

Leveraging is very risking strategy on its own, and you have to be careful with the way you apply it, no matter the level of strategy you personally develop yourself, it would be difficult to apply it with leveraging not to talk of leveraging that high at 100x, if you were trading occasionally, I would not even advise that you leverage up to 10x, but anyway, it’s your call, you know how to do it well, that is just my own opinion, maybe I am not that good anyway.

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August 27, 2019, 06:42:44 PM
 #26

I think that we need to be extremely careful not to mislead a man with some personal believe and some advises because scalping and x100 leverage? I am not sure they will go hand in hand, because leveraging that high is a risky venture and if you say it should be done through scalping.

Leveraging is very risking strategy on its own, and you have to be careful with the way you apply it, no matter the level of strategy you personally develop yourself, it would be difficult to apply it with leveraging not to talk of leveraging that high at 100x, if you were trading occasionally, I would not even advise that you leverage up to 10x, but anyway, it’s your call, you know how to do it well, that is just my own opinion, maybe I am not that good anyway.
I agree, leveraging is only for those that are experts and have decades of experience in the markets, to be honest I do not understand why people use leverage in the market of cryptocurrencies, I understand that some traders do this in markets with very little movement to boost their profits but the volatility of the market of cryptocurrencies is high enough as it is, and in the books I have read about the subject anything above 10x is considered to be simply too high with most traders only using 2x or 3x in leverage and yet I see people considering using 100x in leverage, with that level of leverage even the smallest movement will destroy your account in seconds and I do not think anyone wants that.



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August 29, 2019, 09:29:50 AM
 #27

I think that we need to be extremely careful not to mislead a man with some personal believe and some advises because scalping and x100 leverage? I am not sure they will go hand in hand, because leveraging that high is a risky venture and if you say it should be done through scalping.

Leveraging is very risking strategy on its own, and you have to be careful with the way you apply it, no matter the level of strategy you personally develop yourself, it would be difficult to apply it with leveraging not to talk of leveraging that high at 100x, if you were trading occasionally, I would not even advise that you leverage up to 10x, but anyway, it’s your call, you know how to do it well, that is just my own opinion, maybe I am not that good anyway.
I agree, leveraging is only for those that are experts and have decades of experience in the markets, to be honest I do not understand why people use leverage in the market of cryptocurrencies, I understand that some traders do this in markets with very little movement to boost their profits but the volatility of the market of cryptocurrencies is high enough as it is, and in the books I have read about the subject anything above 10x is considered to be simply too high with most traders only using 2x or 3x in leverage and yet I see people considering using 100x in leverage, with that level of leverage even the smallest movement will destroy your account in seconds and I do not think anyone wants that.

Leveraging indeed increases your risks, but in fact if you cant trade with leveraging you cant really trade at all. It is the same principles same everything , just higher risks. The problem is that many people who are trading crypto think that they can be called traders just because they are using an exchange and can tell head and shoulder from cup and handle. And its a dangerous illusion.

As for leverage, you've been reading some wrong books. I havent seen a single serious book that said that leverage is bad. You just have to be more careful. As for the size, x500 is a relatively common leverage for forex markets, where volatility is quite low.

It's not about the size of the leverage that you are using its all about volatility of the market and the skill of the trader.





I think that we need to be extremely careful not to mislead a man with some personal believe and some advises because scalping and x100 leverage? I am not sure they will go hand in hand, because leveraging that high is a risky venture and if you say it should be done through scalping.

Leveraging is very risking strategy on its own, and you have to be careful with the way you apply it, no matter the level of strategy you personally develop yourself, it would be difficult to apply it with leveraging not to talk of leveraging that high at 100x, if you were trading occasionally, I would not even advise that you leverage up to 10x, but anyway, it’s your call, you know how to do it well, that is just my own opinion, maybe I am not that good anyway.

as you can see that is why i am advising long term trading with pyramiding.
But one thing for sure- trading itself is risky. And without the right skills it will cause huge losses regardless of the leverage that you are using. The only question is how quickly it is going to happen Smiley
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