Bitcoin Forum
December 05, 2016, 12:45:08 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoinica Help...  (Read 669 times)
Scott J
Legendary
*
Offline Offline

Activity: 1540



View Profile WWW
November 17, 2011, 07:47:18 PM
 #1

Newbie question...

Say I want to bet that Bitcoin will fall to 1.95 in the next 24 hours, how do I do that?

I'm currently reading up on different types of positions, but I'm struggling to get my head round it when I'm this tired!

Thanks  Smiley

1480898708
Hero Member
*
Offline Offline

Posts: 1480898708

View Profile Personal Message (Offline)

Ignore
1480898708
Reply with quote  #2

1480898708
Report to moderator
1480898708
Hero Member
*
Offline Offline

Posts: 1480898708

View Profile Personal Message (Offline)

Ignore
1480898708
Reply with quote  #2

1480898708
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480898708
Hero Member
*
Offline Offline

Posts: 1480898708

View Profile Personal Message (Offline)

Ignore
1480898708
Reply with quote  #2

1480898708
Report to moderator
1480898708
Hero Member
*
Offline Offline

Posts: 1480898708

View Profile Personal Message (Offline)

Ignore
1480898708
Reply with quote  #2

1480898708
Report to moderator
avoid3d
Member
**
Offline Offline

Activity: 70


View Profile
November 17, 2011, 08:02:24 PM
 #2

Go to bitcoinica and buy a negative amount of bitcoins. then sell them if you think the price is low enough. profit. OR the price could go up and you would lose money.

avoid3d - Pierre Hugo
1avoid9FDvP15aKNyPGgJPcxfzMFM4Af6
Bitman_Began
Jr. Member
*
Offline Offline

Activity: 41



View Profile
November 18, 2011, 01:53:06 AM
 #3

LOL, wasn't he right? Cheesy
phorensic
Hero Member
*****
Offline Offline

Activity: 630



View Profile
November 18, 2011, 05:22:47 PM
 #4

Go to bitcoinica and buy a negative amount of bitcoins. then sell them if you think the price is low enough. profit. OR the price could go up and you would lose money.
Isn't this the same as if you put in a positive number and hit sell?  It shows up as negative on your trade list and you are effectively "short".  Then you hit liquidate at your profit percentage goal.  Then you learn how to get crafty with the Place Order button and have it do that stuff automatically and set a stop loss so you don't get a margin call or lose big.
avoid3d
Member
**
Offline Offline

Activity: 70


View Profile
November 18, 2011, 10:04:05 PM
 #5

Yeah the sell button is just for people who cant do math.

The api doesnt even have a sell function Tongue

buying negative = selling.

avoid3d - Pierre Hugo
1avoid9FDvP15aKNyPGgJPcxfzMFM4Af6
P4man
Hero Member
*****
Offline Offline

Activity: 504



View Profile
November 18, 2011, 10:13:45 PM
 #6

To clarify further, bitcoinica gives you  leverage, so you can sell more than you own. You essentially borrow those BTCs from them. That way you leverage your profits if BTC goes go down, and you leverage your losses should it go up. If it goes up too much, you end up with nothing, as bitcoinica will issue a margin call,  automatically buy BTCs  to ensure you can pay back the loaned BTCs. Whatever you had, is lost then.

nmat
Hero Member
*****
Offline Offline

Activity: 602


View Profile
November 18, 2011, 10:19:32 PM
 #7

Newbie question...

Say I want to bet that Bitcoin will fall to 1.95 in the next 24 hours, how do I do that?

I'm currently reading up on different types of positions, but I'm struggling to get my head round it when I'm this tired!

Thanks  Smiley

Just keep in mind that you can easily lose a lot of money in Bitcoinica. If you are not familiar with it, you should try it first with smaller amounts of money.
P4man
Hero Member
*****
Offline Offline

Activity: 504



View Profile
November 18, 2011, 10:42:23 PM
 #8

Just keep in mind that you can easily lose a lot of money in Bitcoinica. If you are not familiar with it, you should try it first with smaller amounts of money.

What are you talking about? Everyone makes profit at Bitcoinica. Its all I read. And it makes complete sense!
Wink

Scott J
Legendary
*
Offline Offline

Activity: 1540



View Profile WWW
November 18, 2011, 10:58:29 PM
 #9

LOL, wasn't he right? Cheesy
It got close didn't it?

Made a very small amount of money! Will get my head stuck into all this tomorrow Smiley

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!