del

[myself]

del

[1713986766]

1713986766

[proudhon]

I'm trying it out too.  I don't mind trying it publicly.

[SgtSpike]

Well, I can tell you both one thing.  You're currently losing money.

[Mushoz]

Well, I can tell you both one thing.  You're currently losing money.

They both just opened their positions. Of course they will have a small loss due to spreads :p

[Crypt_Current]

Excellent!  I can help you guys.  I'm not a liar or a trickster; this is not a paradox.

Using 5:1, ok good.  Main thing is, don't let your margin fall below 2.1-2.5x maintenance.

If you see the price drop below your base price and you have tradable balance, buy buy buy!

But you both probably already know the basics.  PM if you have any questions; bitcoinica is practically all i've been doing for a couple months now.

[bulanula]

Excellent!  I can help you guys.  I'm not a liar or a trickster; this is not a paradox.

Using 5:1, ok good.  Main thing is, don't let your margin fall below 2.1-2.5x maintenance.

If you see the price drop below your base price and you have tradable balance, buy buy buy!

But you both probably already know the basics.  PM if you have any questions; bitcoinica is practically all i've been doing for a couple months now.

LOL. For me this Bitcoinica stuff seems like out of another planet since I assume you are all day traders at Forex or something LOL.

[Crypt_Current]

Another thing, keep some BTC or USD on mtgox.  Transferring funds to bitcoinica from mtgox code is the fastest method.  And if that price drops you want to get more funds into your position asap.

Taking profits from bitcoinica is a little different as of right now.  They are reaching their limit of mtgox coupons for withdrawal in USD.  So you could be waiting a while on a withdrawal from bitcoinica in mtgox coupon for USD.  BUT,

You can exchange your USD profit for BTC on bitcoinica (have to use their exchange rate which most times sucks); that will get your coupon immediately (and then you can sell them btcs on gox or do whatever you want with your profit in that form).

[Crypt_Current]

Excellent!  I can help you guys.  I'm not a liar or a trickster; this is not a paradox.

Using 5:1, ok good.  Main thing is, don't let your margin fall below 2.1-2.5x maintenance.

If you see the price drop below your base price and you have tradable balance, buy buy buy!

But you both probably already know the basics.  PM if you have any questions; bitcoinica is practically all i've been doing for a couple months now.

LOL. For me this Bitcoinica stuff seems like out of another planet since I assume you are all day traders at Forex or something LOL.

BTC and bitcoinica are my first experiences with any kind of trading.  Once I master them I will rule the planet.

[ArsenShnurkov]

It's strange, really... there's no wall or anything.  Just resistance.

Please read that tread:
https://bitcointalk.org/index.php?topic=56701.0



I think that short is now around -20000 BTC

[Crypt_Current]

ANY QUESTIONS, JUST PM ME

 

Seriously, I'm more than willing to help via my own experiences.

[Otoh]

congrats! you're now in the black as your buy in spread has been covered, bitcoinica sell quote is $6.3104 atm against your base price of $6.2927 - let it ride

[Mushoz]

Both in the green now, am I right?

[proudhon]

I could grab a penny!

[Crypt_Current]

Well, I can tell you both one thing.  You're currently losing money.

They both just opened their positions. Of course they will have a small loss due to spreads :p

Right; the only way you're going to profit from the get-go is if you accurately predict the bottom of a spike up (or the top in the case of a downward spike if shorting), and set a limit order to buy/sell at that price.  If you just jump in at market price, no matter which direction you're going, you're going to show loss at first.  (MOST of the time, heh.  A while back bitcoinica actually showed a negative spread sometimes, which is fun.  Zhou has benevolently fixed this, though).

But jumping in at market price is not exactly dumb all the time, especially in the case of extremely strong movement pressure as we are seeing now.

[cypherdoc]

this is great!

[Crypt_Current]

I could grab a penny!

Good, ride it out if it keeps rising.  If it falls below your base price, pick up more.  The lower under your base price, the more you should pick up.  BUT only if it's under your base price.  If you show a loss but it's not under your base price yet, just leave it as long as your margin can cover maintenance.

[proudhon]

I could grab a penny!

Good, ride it out if it keeps rising.  If it falls below your base price, pick up more.  The lower under your base price, the more you should pick up.  BUT only if it's under your base price.  If you show a loss but it's not under your base price yet, just leave it as long as your margin can cover maintenance.

When you say "leave it as long as your margin can cover maintenance" do you mean what's next to the Margin Balance field over on the right?

[cypherdoc]

I could grab a penny!

we could very well be on the verge of Proudhon pumping Bitcoin!!!

[trogdorjw73]

Using 5:1, ok good.

1:1 for now  

Main thing is, don't let your margin fall below 2.1-2.5x maintenance.

ok i get the point

edit: so the best approach to the USD BTC deposits is to keep most BTC if you are on a short position and to keep USD if you are on along position, 80/20 rule apply here no ?

I guess it depends on your approach. If you're really going long, IMO it would be better to go long with BTC -- as the price goes up, the value of your BTC (and thus available leverage) also goes up. On the other hand, if you start with BTC and go long and then the price drops, you drop twice as fast. IMO, using USD as your base investment is the best approach, since it won't fluctuate with the value of BTC.

[proudhon]

I could grab a penny!

we could very well be on the verge of Proudhon pumping Bitcoin!!!

lol.  I just want to understand how this leveraged trading business works.  It's mystifying the way you guys talk about it.