50x in 5 days on BTC swap on Okex

[Golstrim]

Small update:
I achieved +4000$ more, but then lost money on yesterday dump. But prior to that I cashed out profit (more than 5000$),so I am satisfied
Now I have like 250$ on my account, will be trying to get rich or get liquidated

[1Referee]

Small update:
I achieved +4000$ more, but then lost money on yesterday dump. But prior to that I cashed out profit (more than 5000$),so I am satisfied
Now I have like 250$ on my account, will be trying to get rich or get liquidated

You can't always be right. It's good to see someone for once admit being wrong. The dump yesterday could just as easily be a pump. The only certain thing was that there would be a breakout.

I predicted Bitcoin will crash soon since almost all indicators show a bearish momentum so I place a 100x short with just $100 around $10,200 and just closed it at exactly $9,321. I'm rich now. 

Not sure if this is sarcasm or you actually being serious, but it's highly unlikely for someone to short and catch the perfect bottom. The indicators weren't even that bearish at all, more like neutral prior to the dump. If you really believed that the momentum shifted bearish, I wonder why you didn't go short before that? The short squeeze to ~$10,600 a few days ago would offer a solid setup to do so.

[travwill]

After talking with experienced traders, I learned their opinion on this matter. This is pure gambling.
If it’s relatively safe to do such things with a small amount, then with big money there is a risk that the exchange may forcibly liquidate your orders under certain circumstances, and you can prove nothing.
This is the opinion of major traders trading on Binance.

[sana54210]

After talking with experienced traders, I learned their opinion on this matter. This is pure gambling.
If it’s relatively safe to do such things with a small amount, then with big money there is a risk that the exchange may forcibly liquidate your orders under certain circumstances, and you can prove nothing.
This is the opinion of major traders trading on Binance.

I think traders on Binance does know nothing about margin trading. Better to ask Bitmex traders. And yeah, 100x seems like pure gambling, moreover some people are becoming addicted on such trading and it is disaster

Binance also have their own margin trading and they are all the same pattern, whether through binance or through bitmex, and you are absolutely correct, margin trade at such high amount is purely gambling, risky and a trade of luck, op might have gotten away with this now, but I bet that it is not because he is an expert in it that made him won, but because luck just decided to shine on him, and if he really likes himself, he should just use the money that he has gotten now to make a physical investment because that is where greed use to set in for most people, they will want to try it again, and that may be the end of the money completely, when especially it comes to gambling leveraging high with as op do in the trade.

[Golstrim]

After talking with experienced traders, I learned their opinion on this matter. This is pure gambling.
If it’s relatively safe to do such things with a small amount, then with big money there is a risk that the exchange may forcibly liquidate your orders under certain circumstances, and you can prove nothing.
This is the opinion of major traders trading on Binance.

I agree, in most cases high leverage is a pure gambling. But it is a chance for small traders to accelerate your portfolio . I consider it as a challenge as well. So I want to beat my previous x100 record and make a new one. Or repeat it on bigger amount. Like 5000$ - 50000$ challenge

[JeromeTash]

Personally i did a test trade on bitmex with just 150 USD last week.
Max leverage i used was x25. I managed to turn it into 500 USD within 3 days and this was with very little effort and just a few trades that i did with caution.

I really believe OP when he says he made X50. It's very possible on a trendy market.

[nydiacaskey01]

So what you can get from this story? Everything is possible, but don't be inspired by my story too much, because you can lose your funds on margin trading as well!

True this is one very important aspect people have to note especially when it comes to Margin trading and also trade what one can afford to lose to avoid depression in case everything gets liquidated.

I am yet to learn a lot more about margin trading before i start trying it out too. I have been doing the other normal crypto trades for a while now.

Inspiring yes, but I have no plans of duplicating his success. His strategy may have worked for him for that day but it doesn’t mean his strategy will work for me as well. Furthermore, margin trading is not for everyone. You need to have a good understanding about it first before you jump into margin trading.

[Strongkored]

I agree, in most cases high leverage is a pure gambling.

If this is pure gambling then you can say that you don't need skill to be able to read chart?

But it is a chance for small traders to accelerate your portfolio.

Yes this is a chance to gain your portofolio or vice versa, because you can lose all the fund immediately in one action.

I consider it as a challenge as well. So I want to beat my previous x100 record and make a new one. Or repeat it on bigger amount. Like 5000$ - 50000$ challenge

I hope you lucky again with next challenge. Read all you story if you lose then it's not a problem because you already gain much profit before.

[nreal]

Your success story may inspire a lot of people, especially new ones. But they also need to be warned about those who have lost all their assets because of margin trading with high leverage, the sad thing is, many people lose everything but few share their stories.

[leavolnhals]

margin trading is really a game of chance, it can help you get rich momentarily but it can also make you get poor very fast. This is not a good way to trade and can save you lots of money forever.
When a trend is identified, we should bet strongly, but if the trend is unknown, we should not make the transaction to avoid losing everything.

[jmigdlc99]

Starting from 70x leverage

Congratulations!

That is an incredible gain from $50 to $5000. I just have some questions, why use Okex? I'm thinking of gambling $50 myself and am looking at exchanges where i can do 100x leverage (just a fun experiment to see what happens!). Also, do you have any specific tips on how to time the buys?

[AUruHM]

Starting from 70x leverage

Congratulations!

That is an incredible gain from $50 to $5000. I just have some questions, why use Okex? I'm thinking of gambling $50 myself and am looking at exchanges where i can do 100x leverage (just a fun experiment to see what happens!). Also, do you have any specific tips on how to time the buys?

Ye, such experience with such results inspires to repeat  always. This is a gambling part of our brain. I want to try also. But it requires strict discipline and MM. I'm sure many advanced traders from this forum branch can do it . Competition? 

[Fredomago]

Your success story may inspire a lot of people, especially new ones. But they also need to be warned about those who have lost all their assets because of margin trading with high leverage, the sad thing is, many people lose everything but few share their stories.

Why would you share your bad experience if it's only bring back those mistakes that you've committed? Most of the time, good memories are there to inspire us not to lose hope and keep trying to find your place inside this market, the opportunities for those who are really aiming to be successful from this venue of investment. Don't lose hope but also keep in mind that it's not only luck or only by chance, it also needs to be accompanied by dedicationand focus to strive higher.

[Golstrim]

Guys, I've started profile on trading view, making some predictions there. Although it is in russian, charts are clear and there is no efforts in reading it.
So check out my predictions
This is last one, take a notice that I've predicted 2-3 days in advance a crash of btc to 8200 . And check out where buy back started, directly in a green zone I point out.

[Ararbermas]

To anyone who want to try just like OP did, make sure you read about he was almost lost all his money when it dropped so deep (from $750 to only $50). You should aware about the risk, not only because of high return

true don't be so excited when someone sharing their good experience because the risky is always there.  And no one can prevent in it to be honest. especially on this current situation of the market! . So always use technical as a habit when it comes investing or trading because that's the most important to avoid risk situation. " Play safe ".that's the keyword for all true traders besr it on you mind guys.  Because in fact it's for our safety.  

[desticy]

A rare success story, no doubt. However, you need to understand that without good trading skill and a share of luck, such adventures will most often end in failure. The amount of $ 50 is pretty small to regret breaking up with her, but someone can spend significantly more in the hope of quickly creating a bankroll. Better to grow slowly but surely.

[JeromeTash]

Congratulations!

That is an incredible gain from $50 to $5000. I just have some questions, why use Okex? I'm thinking of gambling $50 myself and am looking at exchanges where i can do 100x leverage (just a fun experiment to see what happens!). Also, do you have any specific tips on how to time the buys?

There are a number of platforms that support margin trading.
A few famopus ones i know are;
- Bitmex
- Bybit
- Kumex( Kucoin's new derivatives platform)
- Binance also recently launched margin trading thou i haven't used it yet

You don't just long or short randomly. You have to first look at the market trend and then also do some bit of technical analysis before entering a position. atleast it can increase you chances for not getting liquidated the very instant you enter a position 

The most important part is knowing when to make an entry, then an exit and then of course risk management(like stop loss)

[leowonderful]

Note that margin trading on Binance requires you to submit KYC before you're able to trade; you're able to trade without KYC as long as you're not in any of the restricted jurisdictions of Bitmex, Kucoin or Bybit (US traders aren't allowed on both Bybit and Bitmex, not sure about Kucoin).

If you're trading on extremely high leverage, the most important thing you can possibly do is remain as patient as possible for an optimal setup to appear. Forcing trades to happen rarely works, and you're just asking to get stopped out or liquidated if you're forcing a trade to happen on high leverage.

[ololajulo]

If your strategy was that good a lot of people would have known it and never seen any struggling traders. Exchange was never a factor for your success except you offering a marketing service. Most cases we see such profit in few days are results of inside information, which no one will ever divulge.

[Rufsilf]

If your strategy was that good a lot of people would have known it and never seen any struggling traders. Exchange was never a factor for your success except you offering a marketing service. Most cases we see such profit in few days are results of inside information, which no one will ever divulge.

Do it looks impossible but OP did it in a very short period of time.
Absolutely he was lucky that time but I never think that he wants to tell us everything he does cause may others will follow by then.
But with the current market situation today, it looks impossible and it is really hard to make it again even though how good you are in trading.