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Author Topic: Test for free our new futures exchange, and get paid for feedback!  (Read 1007 times)
dkbit98
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June 25, 2021, 11:25:48 AM
 #21

My (test) withdrawal is still pending (after 5 days). Not sure if that's just not implemented yet.
What's weird though: it shows Amount: 0.00000.

I can confirm this also, after I clicked to withdraw my tBTC I received an email to confirm that action and status on my account is now confirmed , however I didn't receive anything in my wallet and balance on my account is still the same.
Maybe withdrawals are not working yet, but it would be weird that only deposits work and not withdrawals.

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June 25, 2021, 11:40:07 AM
 #22

I couldn't log in for a while but I'm back on now.

I was able to place multiple orders without closing previous trades with the 0.1 tmbtc test provided.

And so I’m guessing it's safe to assume that the extra funds are provided as margin? If that's the case, shouldn’t there be some kind of warning for users that, they are trading assets with borrowed funds? This could lead to serious problems and debt if not checked.

I can’t find any data in my open orders tray.

The P&L never updates

I still don’t understand the concept behind frozen funds and how it would benefit users
.
You’ve done a good job explaining it here, but not many users will check on here. You should have a tutorial made, and even at that expect to be bombarded with many questions.

My account logs out automatically, even when I’m still active.

My general feeling is confusion, but then I am not a pro trader. I have only dabbled in it a few times, but someone well versed  in trading may feel otherwise.

Kelvin Santos (OP)
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June 25, 2021, 07:12:02 PM
Last edit: June 25, 2021, 10:48:03 PM by Kelvin Santos
 #23

I can confirm that @LoyceV problem also occurred to me. But a couple of hours later, at the time, I was able to normally log on.

This was indeed a bug. The error message had a wrong description. Problem fixed now!

I'm retesting the site now and seems a couple of things already being worked on, that seem promising.

Nice to hear! I'm editing the original post to list all the suggestions / bug reports and their current state, and also new features that we are adding.

Anyway, I noticed there is a reset layout button on the settings icon at the navbar. I wonder what does its functionality? Does it mean you plan to add more trade layout views?

You can resize and move the components around in the trading panel, and this button lets you reset components to their default sizes and positions. By the way, please share your BTC address!

My (test) withdrawal is still pending (after 5 days). Not sure if that's just not implemented yet.
What's weird though: it shows Amount: 0.00000.

The withdraw had a bug on it and the amount was set to zero. We'll abort this one, and you'll have to make a new one. I'm sorry for that.

It's still bad: if I trade something with someone, they'll know some of my Bitcoin addresses. If I then use that address to deposit to your site, they'll easily know I use your site (but they could probably figure that out through WalletExplorer.com too). What's worse, is if they can trace all my other transactions to and from your site too, after which they can know many more of my addresses. Not only that, they'll also know exactly how much I've deposited and withdrawn for as long as I've used the site. Exchanges don't do that either. Let's compare it with a bank: it's okay for the bank to see who I pay, but it's not okay to sell/publish/use this data.

Maybe publishing all transactions is a bad idea indeed. We'll try to find a better solution. Either way, we'll always be very transparent regarding what our privacy policy is.

For proof of funds, I'd stick to the cold storage with a signed message. Hot wallets shouldn't hold a large portion of total funds, and there's no need to proof every last satoshi.

Problem with that is that you don't know how much deposits the exchnage has. I can sign a message with cold storage address containing 100 BTC, but what if the users actually have 200 BTC in their accounts? If we can publish account hashes and balances, one can see that the balances sum up to the amount at our cold storage address.

However, I just had an idea here! We can publish just the root of a merkle tree containing hashes of balances, and just let the user know the derivation path. This way we can have proof of funds without jeopardizing user privacy. Smiley

My (test) withdrawal is still pending (after 5 days). Not sure if that's just not implemented yet.
What's weird though: it shows Amount: 0.00000.

I can confirm this also, after I clicked to withdraw my tBTC I received an email to confirm that action and status on my account is now confirmed , however I didn't receive anything in my wallet and balance on my account is still the same.
Maybe withdrawals are not working yet, but it would be weird that only deposits work and not withdrawals.

I can confirm this also, after I clicked to withdraw my tBTC I received an email to confirm that action and status on my account is now confirmed , however I didn't receive anything in my wallet and balance on my account is still the same.
Maybe withdrawals are not working yet, but it would be weird that only deposits work and not withdrawals.

We are having a problem in the withdraws, we'll have it solved ASAP.

I couldn't log in for a while but I'm back on now.

I was able to place multiple orders without closing previous trades with the 0.1 tmbtc test provided.

And so I’m guessing it's safe to assume that the extra funds are provided as margin? If that's the case, shouldn’t there be some kind of warning for users that, they are trading assets with borrowed funds? This could lead to serious problems and debt if not checked.

I can’t find any data in my open orders tray.

The P&L never updates

I still don’t understand the concept behind frozen funds and how it would benefit users
.
You’ve done a good job explaining it here, but not many users will check on here. You should have a tutorial made, and even at that expect to be bombarded with many questions.

My account logs out automatically, even when I’m still active.

My general feeling is confusion, but then I am not a pro trader. I have only dabbled in it a few times, but someone well versed  in trading may feel otherwise.

I'm sorry to hear that you feel confused. Margin trading is really complicated. Our top priority is getting it as intuitive as possible, so that we don't have to explain as much. But yes, we'll have a tutorial eventually as well.

Problem with account logging out should be fixed now!

EDIT:

All withdraws processed! Bugs fixed.

=== Try out our new futures exchange, TickSpread, for free! ===
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June 26, 2021, 02:05:34 PM
Last edit: June 28, 2021, 10:35:36 AM by LoyceV
 #24

I'm sorry to hear that you feel confused. Margin trading is really complicated. Our top priority is getting it as intuitive as possible, so that we don't have to explain as much. But yes, we'll have a tutorial eventually as well.
What's still unclear to me (and not intuitive) is what's going to happen when I start a trade. I understand the amount, the leverage, and the liquidation, but I have no idea when a trade will take profit.
Earlier it didn't say "Market" and "Limit", that has been added now. That helps, but I'm still unsure: with Market, I assume the price I enter will be to close the order, is that correct? So if I'm buying now, I should enter a price higher than the current price, and if it reaches that before liquidating, I turn a profit. If that's the case, it may be more intuitive to split the Order field into 2 parts: one to buy, and one to sell. The one to buy shows the Price is to sell, and the order field in which you click sell shows the Price is to buy. (am I making any sense?)

Currently I can't enter a Price for the order, so I can't test anything. Clearing cookies didn't help.
The field looks "unavailable":
Image loading...

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Problem with account logging out should be fixed now!
It looks okay now Smiley

Quote
All withdraws processed! Bugs fixed.
My new test-withdrawal shows up as Pending, and the amount doesn't get Frozen.

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June 27, 2021, 05:05:12 AM
 #25

Made an account and reading through the documentation to understand what this is about. I am not really into trading so this is going to be a learning experience from me.

Reading about the profit calculation, is this website going to be about returning the profits in terms of BTC and not stablecoins per se? If it is so, I think its a great idea. It'd be great if you can include small tutorials about how to use the website. This would be good to onboard newbies like me because the idea of "batch auctions" isn't something we hear about everyday.

If you can provide a bit of hand-holding, people like us will be open to exploring more.
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June 27, 2021, 06:04:06 AM
 #26

Currently I can't enter a Price for the order, so I can't test anything. Clearing cookies didn't help.
The feeld looks "unavailable":

We added the option to create market orders. What this means is that you do not have to set the price. You just select the amount and you click either the buy or sell buttons. This will generate a price at whathever the current market price is.

If you want to select the price of your order, you need to switch to Limit:



What's still unclear to me (and not intuitive) is what's going to happen when I start a trade. I understand the amount, the leverage, and the liquidation, but I have no idea when a trade will take profit.
Earlier it didn't say "Market" and "Limit", that has been added now. That helps, but I'm still unsure: with Market, I assume the price I enter will be to close the order, is that correct? So if I'm buying now, I should enter a price higher than the current price, and if it reaches that before liquidating, I turn a profit. If that's the case, it may be more intuitive to split the Order field into 2 parts: one to buy, and one to sell. The one to buy shows the Price is to sell, and the order field in which you click sell shows the Price is to buy. (am I making any sense?)

You can see the trades you made at the My Trades, right next to the Open Orders.



If you buy first and then sell at a higher price, you made a profit and your total balance will increase. Also if you sell first and then buy at a lower price.

Clearly this is not as intuitive as we wanted, but that's what the feedbacks are for!

One thing we learned already is that open positions need to be much more salient. Once you click the buy button (with Market order), you will make a trade, and your position will change as a result. We want everyone to see that immediately.

Probably we'll make it bigger, maybe we can make it flash once it changes. Also, when you close your position, we can make your balance flash green or red depending on whether you realized a profit or a loss.

Maybe we could show your real time profits or losses on open positions! Yeah, we are going to do that Smiley

Also we may add some "notifications" to the My Trades panel so that you know you can click there to see the last trades you made (including exactly the price you executed at), and same thing on the Open Orders when you place a limit order and it appears on the book.

I don't really understand your suggestion regarding splitting the order fields. Are you talking about "Take Profit" prices? Like, if you are going to buy right now (say at 33,000) do you want to define the price (say at 33,050) at which you will close your position at a profit? If so, we are planning such an interface for the future.

Right now, however, the price you set is the limit price for your order (how much you are willing to buy for right now). If you put this price higher than current price, you will just buy immediately at the market price (not the higher price you set!). Again, you can only set prices on your orders if you are in the "Limit" mode. We'd like to encourage you to try out the "Market" mode: just click the buy button whenever you think the price will go up and once you want to take profit or stop losses you can click the sell button.

You need to keep a watch on your current position. If it is positive you need to sell to close your position, and if it is negative you need to buy to close it. We are also working on an "Open Position" line with a "Close Position" button. You can see your position on the amount field here:



My new test-withdrawal shows up as Pending, and the amount doesn't get Frozen.

If your withdraw shows up as Pending, you need to confirm it on your email. After you confirm it will freeze balance (if balance is available) and will appear as Approved. You then need to wait for us to process it manully (in the future we'll have a hot wallet and you won't have to wait in most withdraws).

Made an account and reading through the documentation to understand what this is about. I am not really into trading so this is going to be a learning experience from me.

Reading about the profit calculation, is this website going to be about returning the profits in terms of BTC and not stablecoins per se? If it is so, I think its a great idea. It'd be great if you can include small tutorials about how to use the website. This would be good to onboard newbies like me because the idea of "batch auctions" isn't something we hear about everyday.

If you can provide a bit of hand-holding, people like us will be open to exploring more.

Thanks for trying out! Yes, all your profits will be in bitcoin. So yes, it is kind of a funny trade because you can 'buy' and 'sell' bitcoins and you get more bitcoins as profit. For now, of course, and until we are confident enough to launch with real money, your profits will be in testnet bitcoins.

We'll have a tutorial eventually, but first we need to understand much better what the challenges for new users are, otherwise we won't be able to create a helpful tutorial.

Nice to see you are reading through the documentation! Please let me know if there is anything that is unclear or confusing. Our exchange has several unique features, from the logarithmic contract to the fee structure to the auction mechanism. This is quite a lot to explain, and we want to make the explanation acessible.

Our batch auction mechanism should not be something a new trader has to worry about. Rather, the experience should be very much like that of other futures exchanges.

Certainly there is quite a lot that is very confusing right now. Believe me: if you feel confused, that's our fault, not yours! If you can give us feedback regarding what your impressions are as a novice trader, that would be awesome. If it is your first time at a futures exchange, that is great as well: futures exchanges are known to be confusing for new users, and we'd like to change that.

=== Try out our new futures exchange, TickSpread, for free! ===
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June 27, 2021, 06:58:34 PM
 #27

New market orders are working fine for me and I received my pending withdrawal that was probably manually done, so the question is would withdrawals in future with real Bitcoin also be manual or automatic?
And what happens in situation if you don't have enough Bitcoin for withdrawal? Maybe there should be some proof of funds with reserve addresses or something similar.

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LoyceV
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June 28, 2021, 11:27:43 AM
 #28

We added the option to create market orders. What this means is that you do not have to set the price. You just select the amount and you click either the buy or sell buttons. This will generate a price at whathever the current market price is.
Now that you explain it, it makes sense.
I Market Order, and when I try to close the Position I get:
Quote
Something went wrong! Please come back in a while or you can contact us for support!
A few minutes later I got a Server Error.

I don't really understand your suggestion regarding splitting the order fields.
In retrospect, it doesn't make much sense.

Quote
Are you talking about "Take Profit" prices? Like, if you are going to buy right now (say at 33,000) do you want to define the price (say at 33,050) at which you will close your position at a profit? If so, we are planning such an interface for the future.
This would be nice indeed.

Quote
If your withdraw shows up as Pending, you need to confirm it on your email.
I did Smiley

Quote
After you confirm it will freeze balance (if balance is available) and will appear as Approved.
This didn't happen. I'll try again when the site works again.

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June 28, 2021, 01:46:17 PM
Last edit: June 28, 2021, 05:08:27 PM by vv181
 #29

I'm able to reproduce the market order server error. Also, it might be contains more bugs.

On my side, sometimes, my active/filled order doesn't automatically listed on the My Position, it only gets added after I'm refreshing the page.

Another thing is when I just successfully make an order, then immediately close my position, It doesn't close my position instead whenever I clicking the button it just makes a new order.

Furthermore, I notice on the withdrawal page if I hover the date on the withdrawal history, it shows the timedate of the withdrawal right? The problem is if I hover it, the whole text table position is adjusted, it might be good if you just adjust the withdrawal time text instead of the whole table.

Also, when I switch to the Limit order, the price input is empty. I tried to click the price on the order book, but the price doesn't automatically inputted. The price I click only showing if I switch to market layout then reswitching to the limit order again.

You can resize and move the components around in the trading panel, and this button lets you reset components to their default sizes and positions. By the way, please share your BTC address!
I just barely know that, did I missed that or you just implemented it.

Also, when you close your position, we can make your balance flash green or red depending on whether you realized a profit or a loss.
That seems nice little detail, +1 Wink

BTW, here is my address: bc1qelru52aa66fthgk4cmu7z366rxv0xazaykq6m4  Smiley
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June 28, 2021, 07:28:52 PM
Last edit: June 30, 2021, 10:02:18 PM by Kelvin Santos
 #30

New market orders are working fine for me and I received my pending withdrawal that was probably manually done, so the question is would withdrawals in future with real Bitcoin also be manual or automatic?
And what happens in situation if you don't have enough Bitcoin for withdrawal? Maybe there should be some proof of funds with reserve addresses or something similar.

If you don't have enough bitcoin the withdraw will fail after you confirm in your email. In the future withdraws will be mostly automatic (except for very large ones or if our small hot wallet runs out of money).

I Market Order, and when I try to close the Position I get:
Quote
Something went wrong! Please come back in a while or you can contact us for support!
A few minutes later I got a Server Error.

You triggered an UI bug that crashed our system! Tongue Of course we should never crash no matter what messages the user sends us. Both the UI bug and the system crashing because of it are now fixed. We had downtime of about two hours unfortunately and any open ordens you might had were cancelled.

I'm able to reproduce the market order server error. Also, it might be contains more bugs.

On my side, sometimes, my active/filled order doesn't automatically listed on the My Position, it only gets added after I'm refreshing the page.

Another thing is when I just successfully make an order, then immediately close my position, It doesn't close my position instead whenever I clicking the button it just makes a new order.

Furthermore, I notice on the withdrawal page if I hover the date on the withdrawal history, it shows the timedate of the withdrawal right? The problem is if I hover it, the whole text table position is adjusted, it might be good if you just adjust the withdrawal time text instead of the whole table.

Also, when I switch to the Limit order, the price input is empty. I tried to click the price on the order book, but the price doesn't automatically inputted. The price I click only showing if I switch to market layout then reswitching to the limit order again.

Fixed some of the bugs: you can now click in the orderbook to set limit price. Also closing the position with the button should be working fine now.

Other bugs are in the todo list that I'm updating in the original post, thanks for the feedback!

Sent you 0.3 mBTC Smiley

=== Try out our new futures exchange, TickSpread, for free! ===
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June 29, 2021, 05:33:16 PM
 #31

You triggered an UI bug that crashed our system! Tongue
Lol, I did what?
I just tried to Place an Order, and once again got:
Quote
Something went wrong! Please come back in a while or you can contact us for support!
I hope it didn't crash again. My withdrawal amount is now Frozen. It could be I didn't click the final "Are you sure" after clicking the confirmation link in my email, I didn't expect that button and I had to scroll down to find it.

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June 29, 2021, 05:57:49 PM
 #32

Hie Kelvin this seems to be an interesting platform. It's much easier to navigate but am not sure if am the only one experiencing this on mobile.
- when I create an order limit it's saying order successfully created but when I go to my orders the is nothing created or any pending trades.
- Also when signing up for an account I think after completing all the details it should pop up a notification 🔔 to check my email for confirmation.
I actually thought my account hadn't gone through until I had to check my mail ✉ box.
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June 30, 2021, 06:40:08 PM
 #33

Anyone noticed that something is now changed in TickSpread website interface or this is just happening to me?
I see that everything is modular and my window for open orders, my trades and my positions is now on the left side, and windows with balance, deposits and withdrawals moved to the right side of screen.
Maybe there are more changes but good thing is that I can change that, resize windows and make any window order I like.

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Kong Hey Pakboy
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July 01, 2021, 12:29:02 PM
 #34

I have a question, what if there's a whim of chance that someone hit the 100x in your leverage with the mBtc that you have provided, do you have enough bitcoin to cover the cost? Because as you have said in your thread, you are just a start up website.

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PLINKO    |7| SLOTS     (+) ROULETTE    ▼ BIT SPINBITVESTPLAY or INVEST ║ ✔ Rainbot  ✔ Happy Hours  ✔ Faucet
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Kelvin Santos (OP)
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July 01, 2021, 03:42:34 PM
Last edit: July 01, 2021, 03:58:59 PM by Kelvin Santos
 #35

You triggered an UI bug that crashed our system! Tongue
Lol, I did what?
I just tried to Place an Order, and once again got:
Quote
Something went wrong! Please come back in a while or you can contact us for support!
I hope it didn't crash again. My withdrawal amount is now Frozen. It could be I didn't click the final "Are you sure" after clicking the confirmation link in my email, I didn't expect that button and I had to scroll down to find it.

Yes, it did crash again! We have a very conservative mindset regarding errors, and we'll crash preemptively whenever anything appears to be wrong. In this case, a validation check in the liquidation engine pointed to a bug when it was liquidating your position. You had a short position that was paying funding because of negative funding payments, and these payments should have gradually decreased your liquidation price, but these was a bug on this update, and your position was liquidated later than it should have been.

We tested our liquidation system extensively, but infortunately the funding payments have clearly not been tested enough. It took several hours, but we finally got it working again. I'm sorry for the inconvenience! Please try again, we also have new features now!


I actually thought my account hadn't gone through until I had to check my mail ✉ box.

Hi Arthur! Thanks for the feedback! We'll work on that. It should let you know that we are waiting for the email confirmation Smiley

It is also great that you are experimenting on mobile. The mobile version has not been tested as much, so your feedback will be very important!

Anyone noticed that something is now changed in TickSpread website interface or this is just happening to me?
I see that everything is modular and my window for open orders, my trades and my positions is now on the left side, and windows with balance, deposits and withdrawals moved to the right side of screen.
Maybe there are more changes but good thing is that I can change that, resize windows and make any window order I like.

Nice to see you noticed our changes, we are trying to make improve the user experience! If there is anything that you don't like, please let us know. Also, if you think you made a better panel by resizing and changing the order of the components, please share an image here with us!

Please check our new features: we now have notifications icons on the Orders, Trades and Positions tabs. So for instance, whenever you make a new trade you will see a notification for the trade and the update in your position.

I have a question, what if there's a whim of chance that someone hit the 100x in your leverage with the mBtc that you have provided, do you have enough bitcoin to cover the cost? Because as you have said in your thread, you are just a start up website.

Great question. Yes, we will always have enough bitcoins to pay any profits! However, like most other futures exchanges, we do have an auto-deleverage system. This means that, if you open a 100x long position and price rises too much too fast, causing short positions to be liquidated, and if there is not enough liquidity on the book to close short positions, long positions with highest leverage may be forced to close their positions.

During auto-deleverage, our positions are always closed at a price between the bid/ask. Some other exchanges have badly designed auto-deleverage mechanisms that close positions are a price unrelated to the current orderbook -- this is sometimes called a 'clawback'. We don't do anything like that.

So positions will be usually closed at fair prices (or even better than usual prices if the liquidating positions caused some slippage). If prices move suddenly, though, or if prices move during an exchange outage, highly-leveraged positions may see smaller profits than what one might expect.

For example if you buy bitcoin with high-leverage at $35,000, current price is $36,000 and price start going up really fast and there is no liquidity to liquidate short position, at some point (maybe if it hits $40,000) you may see your position closed automatically at a profit. It price keeps rising after that, you may be disappointed later that your position was closed. But if the prices falls back after that, so you may even be glad we closed your position for you!

Even so, we'll have an insurance fund in the future to prevent auto-deleverage events from happening.

=== Try out our new futures exchange, TickSpread, for free! ===
Kong Hey Pakboy
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July 02, 2021, 04:34:07 AM
 #36

I have a question, what if there's a whim of chance that someone hit the 100x in your leverage with the mBtc that you have provided, do you have enough bitcoin to cover the cost? Because as you have said in your thread, you are just a start up website.

Great question. Yes, we will always have enough bitcoins to pay any profits! However, like most other futures exchanges, we do have an auto-deleverage system. This means that, if you open a 100x long position and price rises too much too fast, causing short positions to be liquidated, and if there is not enough liquidity on the book to close short positions, long positions with highest leverage may be forced to close their positions.

During auto-deleverage, our positions are always closed at a price between the bid/ask. Some other exchanges have badly designed auto-deleverage mechanisms that close positions are a price unrelated to the current orderbook -- this is sometimes called a 'clawback'. We don't do anything like that.

So positions will be usually closed at fair prices (or even better than usual prices if the liquidating positions caused some slippage). If prices move suddenly, though, or if prices move during an exchange outage, highly-leveraged positions may see smaller profits than what one might expect.

For example if you buy bitcoin with high-leverage at $35,000, current price is $36,000 and price start going up really fast and there is no liquidity to liquidate short position, at some point (maybe if it hits $40,000) you may see your position closed automatically at a profit. It price keeps rising after that, you may be disappointed later that your position was closed. But if the prices falls back after that, so you may even be glad we closed your position for you!

Even so, we'll have an insurance fund in the future to prevent auto-deleverage events from happening.
I really thought that my question was a stupid one. Another question I have is regarding this auto-deleveraging system, isn't that kind of interfering with the users decisions? Don't get me wrong, I see the point of doing that but I think the users who do do high-leverage knows what they are doing I guess.

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
PLINKO    |7| SLOTS     (+) ROULETTE    ▼ BIT SPINBITVESTPLAY or INVEST ║ ✔ Rainbot  ✔ Happy Hours  ✔ Faucet
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ★ ★ ★ ★ ★ ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
atomicarthur
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July 02, 2021, 07:53:13 AM
 #37

Is it also possible to have an option to instantly close the order than first having the pop up box and then confirming.
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July 02, 2021, 08:25:26 AM
 #38

Yes, it did crash again! We have a very conservative mindset regarding errors, and we'll crash preemptively whenever anything appears to be wrong. In this case, a validation check in the liquidation engine pointed to a bug when it was liquidating your position. You had a short position that was paying funding because of negative funding payments, and these payments should have gradually decreased your liquidation price, but these was a bug on this update, and your position was liquidated later than it should have been.
I've never seen a service that preemptively crashes when something goes wrong. I could imagine shutting it down, but crashing doesn't seem right as a solution.

When I close a Position, the popup shows: "order created successfully!.". And nothing changes.
I placed 3 orders, each with different Leverage. Still a n00b here, but I would have expected them all to show up onder Positions. It seems they're added together, is that as intended?

Update: I closed the browser tab and opened it again. Now the site is back to the previous layout (with my Assets on the left), and without the overview of open Positions. Are you updating things right now, or did something go wrong?



My (test) withdrawal is Approved, but not processed.

dkbit98
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July 02, 2021, 09:56:34 AM
 #39

I've never seen a service that preemptively crashes when something goes wrong. I could imagine shutting it down, but crashing doesn't seem right as a solution.
I can imagine scenario when you could profit a lot with your trade but ''conveniently'' website crashes and you don't earn anything.
This is not so hard to imagine because I think that both Bitmex and Binance had this ''glitches'' before.

Nice to see you noticed our changes, we are trying to make improve the user experience! If there is anything that you don't like, please let us know. Also, if you think you made a better panel by resizing and changing the order of the components, please share an image here with us!
I just returned interface to it's original state but I think it's better to remove deposit and withdrawal box and move it to top menu.
Balance could also be seen on top or tab instead of using the box, but you could make this change optional and users can choose what they like more.

Please check our new features: we now have notifications icons on the Orders, Trades and Positions tabs. So for instance, whenever you make a new trade you will see a notification for the trade and the update in your position.
Yeah I noticed notifications and other updates and it works fine so far.

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Kelvin Santos (OP)
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July 02, 2021, 04:18:00 PM
 #40

I really thought that my question was a stupid one. Another question I have is regarding this auto-deleveraging system, isn't that kind of interfering with the users decisions? Don't get me wrong, I see the point of doing that but I think the users who do do high-leverage knows what they are doing I guess.

No, your question is a great one!

Auto-deleverage is bad, no questions about it, but it is also inevitable in leveraged trading. The best that we can do is make it very unlikely.

Let me give you an example. Suppose we have two users, one buys 1BTC with 100x leverage (with 0.01 BTC as margin), and another sells 1BTC with 100 leverage (also with 0.01 BTC as margin). If there are no other users and BTC price rises 1%, the user with the short position will be liquidated, and we'll have to close the long position at this price. So the buyer will get 0.02 BTC, doubling his money, but won't get anything more than that, simply because there is no money available in the system!

Of course, the exchange itself can pay up for the difference, and that is what an insurance fund is for, but even so the insurance fund may run out and an auto-deleverage may happen. So an insurance fund can at most make auto-deleverages less common.

Is it also possible to have an option to instantly close the order than first having the pop up box and then confirming.

Good idea! Added to the TODO list.

I've never seen a service that preemptively crashes when something goes wrong. I could imagine shutting it down, but crashing doesn't seem right as a solution.

You are right, we should shutdown gracefully if we have a bug (instead of crashing). We'll add that to our TODO list.

When I close a Position, the popup shows: "order created successfully!.". And nothing changes.

We'll investigate this bug. Also, we have in our TODO list already to improve these popup messages. Currently this only means that we received your request, but your order may not have actually been created successfully. What happens if you try to close the position again?

I placed 3 orders, each with different Leverage. Still a n00b here, but I would have expected them all to show up onder Positions. It seems they're added together, is that as intended?

Yes, this is intended. We only have one open position per market per user, so if you trade with different leverage the position adds up all the margin. Maybe we can do better than that. Would you prefer your positions to be handled (and potentially liquidated) separately? (This would not be easy to change, so I don't promise it will happen anytime soon).

Update: I closed the browser tab and opened it again. Now the site is back to the previous layout (with my Assets on the left), and without the overview of open Positions. Are you updating things right now, or did something go wrong?

That is weird. Can you send us a picture?

My (test) withdrawal is Approved, but not processed.

We'll process your withdraw today Smiley

@dkbit98, I'll write a detailed answer to your post and edit here later!

=== Try out our new futures exchange, TickSpread, for free! ===
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