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Author Topic: Is it ok to create a thread to keep track of my Bitmex Gambling?  (Read 119 times)
cryptotrade78u
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January 08, 2020, 09:22:11 PM
Merited by exstasie (1)
 #1

So, i have this itch of speculating on BTC Price action and want to track my journey of how fast am i losing money. I also want to try couple of strategies, and the first one is something like this

Double or nothing

I will start lets say 0.1 BTC as a deposit and Open a long or short position with enough Leverage and a Stop Profit taking so i am getting liqudated or taking profit when price moves X amount either way. Example would be, Long now @ 8000 get liqudated if it hits 7800 or take profit if it hits 8200 first.

If i double, i will just obviously put 0.2 on, as the stakes increase i will probably go less crazy with leverage and look at it as long term thing. So lets say 10 BTC is on line at 8k, i would want to get liqudated at 6500 or take profit @ 9500.

Obviously most of the times, i will lose after couple of wins (if that) and happy to just keep adding 0.1 btc every time i lose. I don't have a stop loss in mind, but i would say as long as its under 1 btc a month, i can afford that.

I am new to the forum and do not know rules around such thread or posts.

Let me know!!!
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exstasie
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January 08, 2020, 10:41:43 PM
 #2

So, i have this itch of speculating on BTC Price action and want to track my journey of how fast am i losing money. I also want to try couple of strategies, and the first one is something like this

Double or nothing

I will start lets say 0.1 BTC as a deposit and Open a long or short position with enough Leverage and a Stop Profit taking so i am getting liqudated or taking profit when price moves X amount either way. Example would be, Long now @ 8000 get liqudated if it hits 7800 or take profit if it hits 8200 first.

If i double, i will just obviously put 0.2 on, as the stakes increase i will probably go less crazy with leverage and look at it as long term thing. So lets say 10 BTC is on line at 8k, i would want to get liqudated at 6500 or take profit @ 9500.

Obviously most of the times, i will lose after couple of wins (if that) and happy to just keep adding 0.1 btc every time i lose. I don't have a stop loss in mind, but i would say as long as its under 1 btc a month, i can afford that.

I am new to the forum and do not know rules around such thread or posts.

Let me know!!!

So you're basically planning to light your money on fire? Interesting approach! Tongue

"Trading Discussion" should be fine for a trading journal. If the thread were geared more towards price analysis, TA, etc. then I would say "Speculation" is a better place.

Welcome to the forum, by the way.

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January 08, 2020, 11:24:40 PM
 #3

Yup, sounds like this should be in the trading discussion section. There are other threads like this already where they post their trades, how they analyze a cahrt and their observations as well as where the price of Bitcoin is going. Feel free to update it as often as possible so that others can watch and follow your trades. Good luck.

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January 08, 2020, 11:56:21 PM
 #4


Yes, it's fine as long as you will always keep it substantial, informative (at least) and close to what the subject of the thread is all about.

The majority of threads like this became inactive after few updates by its OP so let's see if you can track yours for long.

Goodluck.

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January 09, 2020, 04:19:23 AM
Merited by yahoo62278 (1)
 #5

Why not create an offline spreadsheet for that?

I don't really think creating a thread to keep your personal trading just to keep tracking your trading activity is a good choice. First and foremost, this sub-board is prone to spam, and who knows what might happen to your thread. You'll probably post once in a week or so but there will be tens or hundreds of spams that will make it difficult to see your journal.

Unless you want to open a discussion and get feedback from the "experts" here.

exstasie
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January 09, 2020, 06:51:59 AM
 #6

First and foremost, this sub-board is prone to spam, and who knows what might happen to your thread. You'll probably post once in a week or so but there will be tens or hundreds of spams that will make it difficult to see your journal.

I would close this thread and open a new self-moderated thread. I've only had to delete 2 posts in 2.5 months in my thread. Spammers avoid self-moderated threads like the plague.

Why not create an offline spreadsheet for that?

An audience makes it much more fun, and possibly constructive. I also love to read a good trading journal myself. As long as he keeps the thread clean....

cryptotrade78u
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January 10, 2020, 01:39:34 PM
 #7



I would close this thread and open a new self-moderated thread. I've only had to delete 2 posts in 2.5 months in my thread. Spammers avoid self-moderated threads like the plague.


you mean lock thread, not close, right? Just trying to keep a clean forum
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January 11, 2020, 07:43:48 AM
 #8

you mean lock thread, not close, right? Just trying to keep a clean forum
I think what he meant is that you can lock this thread since you have already got the answer that it's Ok to open up a thread to keep track of my Bitmex trading.

@exstasie  was just emphasizing that you can make the thread self-moderated to avoid spammers from derailing the purpose of your trading diary. Whoever comes in to make a spammy off-topic reply which you think shouldn't be in your thread, you just delete it,

Otherwise, Good Luck on that quest. I would be interested to follow it if you created one since i also do some margin trading  Wink

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January 11, 2020, 07:56:14 AM
 #9

Are you going to be putting any analysis regarding BTC price into your thread and/or base your decisions on 'normal' trading indicators? Or are you just going to pick "high" or "low" and see what happens? Huh

If the latter, then maybe consider the "gambling" board... or "gambling discussion" board Wink

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January 11, 2020, 03:36:21 PM
 #10

I do not create threads to track Bitmex gambling. But I know about this form of gambling. It seems that most BitMEX traders only gamble at this time. By 2020, this form will be expanded. In 2019, $ 5B in the long position and $ 9B in the up position have been liquidated.

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January 11, 2020, 04:41:14 PM
 #11

Yes op, in either gambling or service discussion I would imaging to be best, minimum start would have to be 0.5BTC

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