Never use x50 on Binance futures, it is a fraud

[Marquise$Museum]

Binance futures is great for small x3-15 leverage but x50 is a scam that either uses sweatshop workers to liquidate positions within minutes, or neural network liquidation bot.

It is a waste of time thinking you can profit from x50.

The ethical response from Binance would be to introduce long term loans instead of this scam system.

Let users borrow crypto with a fixed monthly fee and remove this silly liquidation scam.

This is of course how Binance generates a large amount of profit, combined with user fees, that is then used to hoard top 50 crypto.

Basically the entire market since 2017 is owned by top 10 exchanges and some old world billionaires/big banks.

It's still great for small leverage, no kyc, no credit checks.

Remember that there is some scammy stuff mixed into it.

x5 to x10 is also compromised when there is a leveraged whale. I have seen dozens of times large positions get wiped only to have instant market reversal back to baseline price, and then usually continuation up using the whales margin to hoard more crypto. This is of course a bigger systemic problem with crypto and should be addressed by regulators. Because x50 scam is relatively small money, but still it's maybe $20-100 from every new user and there is alot of users on Binance.

My plan is to accumulate 50% of the target stack in waves for example 400 waves, and then mirror this with an equal amount of 400 waves leveraged with minimum $1 margin where base stack can be used to cover margin. Instead of 760 leveraged/40 base  with 10-30 cents margin because this type of position will get chopped up or wiped very quickly.

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[muenze]

Its clear Binance (and others) push Leverages because thats where they make so much more money than when people just buy & hold coins (which in crypto ALWAYS has been the best strategy. Plus sell when high, of course).

Binance acquired Coinmarketcap and now theres always Leverage Options pushed and they even had it as one of their biggest questions in the recent survey they did on Coinmarketcap because they want to push it more.

But on x50 or x100 I am thinking it would still work when theres like a huge, fast rally as sometimes happens. But of course the risk is so much higher because the reward is also. I am not sure that its a scam. You cant expect to just x50 your money like that.

I mean even simple math would tell you, when you do 50 x50 futures, you will lose 49 times.

To me this is all gambling anyways. People just do it for the kick of it. Its boring for many to do it like early btc, eth, link, aave investors and just do the research and find good projects early.

[suchmoon]

I'm trying to feel sorry for overleveraged kids getting screwed over by a big bad exchange but I can't. You get exactly what you deserve if you think that you can just jump in and make money with 50x leverage.

This is not a scam accusation, move it where it belongs (trash).

[logfiles]

Your images are small and not clear, Please try uploading much clearer images

Now back to the point. Any trader who thinks they will use x50 or x100 when trading crypto futures and make insane profits without making huge loses is either a newbie in trading or just delusional. It's like staking on so many high odd picks on a gambling platform and expecting to win every time.

Now am not defending Binance but when you try to adjust leverage above x25, they even warn you that the leverage is too high and should consider managing your risk accordingly, but guess what, you go ahead and adjust to x50, and then after getting liquidated you come here and say how it's fraud... really?
If you had made profit out of that open position, would you still come here and say it's fraud?

This is almost the same as gambling, you should always know the risk before you go in. Binance is not going to pamper you and stop you from entering a position when there's a risk. The choice is always yours.

[Insanerman]

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This is crazy. Why would you have an accusation to an exchange platform that keeps reminding you that going over 20x leverage and above is risky. Not a total defender for Binance, but trading with leverage in general is a risk one weak trader must not take. Also, have you risked all of your capital? If it was so, then you must be dumb. 20x leverage and higher are only for those with a proper trading plan and a huge risk appetite, and only as well for the trades that only risks a small percentage of the total capital, regardless of being cross or isolated. There are tons of futures trading supported by many trading platforms. It's all in your hands whether you win or you lose.

[decodx]

I'm trying to feel sorry for overleveraged kids getting screwed over by a big bad exchange but I can't. You get exactly what you deserve if you think that you can just jump in and make money with 50x leverage.

This is not a scam accusation, move it where it belongs (trash).

This is a problem with today's kids, everybody thinks they can easily earn without a shred of work or expertise.

@Marquise$Museum, creating false accusation is wrong. Are you sure you even know how leverage trading works?

[nutildah]

I'm trying to feel sorry for overleveraged kids getting screwed over by a big bad exchange but I can't. You get exactly what you deserve if you think that you can just jump in and make money with 50x leverage.

This is not a scam accusation, move it where it belongs (trash).

This guy has a history of complaining about getting screwed after being way overconfident in terrible calls. He has an older account but he ditched it because TMAN tagged him for being full of shit, basically (not that I think that's a good reason to tag somebody necessarily).

I have a list of things that are owed from all kinds of places, millions.

This is an unhealthy attitude to have. Once you free yourself from the belief that society owes you a living then you can begin to bring your understanding of reality in line with reality itself.

[muenze]

I just started with futures and i only like x125. Actually I think even with x125 you dont make enough profit

Way better strategy is still to buy altcoins cheap like KoinOS on Uniswap and Banano on Mercatox. They have chance to go x100.

Where $5000 turns into $500k

I just try Binance x125 and I win but I did barely make 50% of my investment? Its a joke. You will never make x125 lol

[cryptoaddictchie]

Is this post should be here? I think it kinda needed to be move on exchange discussion. A negative result of your trade OP doesn't mean they are scam or tricking you. I guess there are some laga, error, and glitches sometime by the exchange and that's suck but 50x leverage works on a good basis if your execution is also good.

just try Binance x125 and I win but I did barely make 50% of my investment? Its a joke. You will never make x125 lol

It depends on your chosen leverage there is what you called cross and isolation. Also future trading incurred fees especially if you are not using bnb for the 10% discount. Anyway better study it before trying it out and learn its content properly.

[logfiles]

I just started with futures and i only like x125. Actually I think even with x125 you dont make enough profit

Way better strategy is still to buy altcoins cheap like KoinOS on Uniswap and Banano on Mercatox. They have chance to go x100.

Where $5000 turns into $500k

I just try Binance x125 and I win but I did barely make 50% of my investment? Its a joke. You will never make x125 lol

Are you kidding? 

Maybe there's something you are not doing right. 125x is so huge. Just an 1% price change in the right direction from your open position means 125% increase in profit. I don't recommend it because chances of getting your whole position liquidated are very high.

Those altcoins you have listed, how many of them have turned $5,000 into $500K? Do you know how many have turned dumped by over 90% in the bear market?

[muenze]

Maybe there's something you are not doing right. 125x is so huge. Just an 1% price change in the right direction from your open position means 125% increase in profit. I don't recommend it because chances of getting your whole position liquidated are very high.

Those altcoins you have listed, how many of them have turned $5,000 into $500K? Do you know how many have turned dumped by over 90% in the bear market?

I am not sure this is true. I was long on Bitcoin with x125 and it went up by like $1000 so thats already more than 1%. Its like 3%. And I think I made like 100% or even less actually.

I only use isolated so i assume when you dont use isolated and you bet a lot more of your capital (which i dont find very smart), you could make more?

Also you can set a stop-loss so your position wont get liquidated like if you think Bitcoin (or ETH, Doge, whatever) will go up I dont see why you would NOT use x125 (well, x25 max with Doge), I mean with stop-loss you could still minimize your losses to like 10% or 25% in case it goes down.

But yeah I am new to this so i appreciate any tips.

As for the price I go long/short on i always try to use the max price I can put in (it wont let me put $41k on bitcoin for example) so i am not sure if that makes a difference. Lets say I bet on bitcoin being $500 higher i still make a bigger profit when it goes $1000 higher right? so i am not sure if it makes a difference if i bet on +500$ or on +$1000 of current price?

As for the other question, yes I made x50 or even more on a lot of projects. But its true some went down 95% (like eth lol) or even more actually But I see this as inspirationto find better projects next time. Like currently I really, really like KoinOS. Its so cheap i dont see how it wont go up in the long run and so you probably would make a lot more money even day trading it, or just holding it for a long time. Because no matter if its 2,3 or 5 cents now, its still very cheap. I mean even at 10 cent. So that seems the better and safer strategy than using x125

[muenze]

Could someone explain PNL(ROE%) to me in an easy way? Like its saying I have 842% ROE right now on ETH x100 but the PNL is actually only like 40% of what I put so not a very big profit. Whats the point of ROE?

This number seems completely useless? Kinda like Binance wants to show noobs a high number so they think they are winning? 

[TryNinja]

Could someone explain PNL(ROE%) to me in an easy way? Like its saying I have 842% ROE right now on ETH x100 but the PNL is actually only like 40% of what I put so not a very big profit. Whats the point of ROE?

This number seems completely useless? Kinda like Binance wants to show noobs a high number so they think they are winning?  

You should use Binance's calculator to understand what was your profit before comissions.

Imagine you go long 100x on a coin at $100 and exit at $110 as the coin rised 10%. If your initial margin was $1 and thus your leveraged position was of $100 ($1 x 100 = $100), you gained (10 * 100)% on your position = 1,000% ROE or $10.

[muenze]

Imagine you go long 100x on a coin at $100 and exit at $110 as the coin rised 10%. If your initial margin was $1 and thus your leveraged position was of $100 ($1 x 100 = $100), you gained (10 * 100)% on your position = 1,000% ROE or $10.

Thanks for the explanation, but it just said i had 800% ROE when in fact i only got like 50% on my intial investment (so lets say i put $100, but i only got $150 back despite it saying 800%).

It does seem to give the correct number on the PNL but I am confused why it even lists ROE when I just cant figure out the point of it. I tried the calculator (before i just used TP/SL for estimates) and in the calculator it does indeed give a correct ROE%