Leverage Your Bitcoin on Bitmex up to 100X!
Are You Sitting on Your Bitcoin Like an Egg. It is Time to Trade on Bitmex?
A few months back one of my Crypto Currency trading buddies came to me and asked me how many Bitcoin I had. I told him and he said you can easily double up in the next few weeks. So I listened to his idea and I decided to follow his lead. I set up a Bitmex account and began trading within a few days.
Here are all of the Bitmex trading pairs. Save 10% on your Bitmex trading fees by using this link.
What is So Cool About Bitmex?
The Bitmex trading platform allows you to leverage your Bitcoin 1X-100X. I found that leveraging at 50X-100X was a little too risky for me. I learned the hard way by gaining then losing two Bitcoin multiple times while learning how to trade on the Bitmex platform.
Things that I learned to do while trading on Bitmex.
- Always buy and sell using Limits and closing orders. I never ever sell to Market.
- I never trade at 50X or 100X. Twice while trading at 50X Bitcoin took a big drop and I got wiped out.
- Set up multiple limit buy orders below your longs to protect your buy in. Same if you are shorting the market.
- The trend is your friend. When trading Bitcoin the biggest action is when the Chinese are trading.
Save 10% on your Bitmex trading fees by using this link
If You are serious about Bitcoin trading on Bitmex I have a few open spots in my Secret Bitcoin trading community on Facebook. You must have some trading experience to be part of the group. If you do not, feel free to ask me questions. I don't want my fellow traders bothered with new trader questions.
Bitmex deals with futures only correct? I like 1Broker(200 X);(Forex) - https://1broker.com/?c=en/action/r&i=6673 ;)
I use the perpetual swap.
This is really great info, do you have any links for more reading about leverage trading? I started in crypto in June and still don't feel totally comfortable
I actually had to learn on my own since there is practically nothing out there. Just start out very conservative. 5X-10X and you will be fine. It is the quickest way to build your Bitcoin stack. My buddy had positions set up for the $780-$900 rally with 5 Bitcoin and turned it into 25 over Christmas. My goal is to have 100 by the end of 2017.
100 Bitcoin at the end of 2017??? OKAY..5x to 10x is NOT conservative. You should NEVER trade with 50x or 100x. 25x tops. It's a long run game and key is to be patient and pick your spots. Just cause it offers you 100x doesn't mean you have to trade 100x. They could offer 5000x. Does it mean you have to trade max? Know what % move on what level of margin would wipe you out (20% margin or less liquidation rule). So at 5x leverage, you only get to lose 80%. So 80/5 is 16%. Only need to move 16% to wipe you out. at 10x leverage, 80/10 is 8%. 8% move wipes you out, and at 50x, 80/50 is a 2% move to wipe you out. Good luck lasting more than a few seconds!!!
try this, for other exchange but the usage is similar http://fuk.io/simplefx-review-and-tutorial-trade-bitcoin-and-commodities-with-leverage/
Tweeted @RandyHilarski
https://twitter.com/RandyHilarski/status/813898410310955008
Disclaimer: I am just a bot trying to be helpful.
Just a reminder to those reading you can also lose it all if you are not careful
Sure if you are careless and trade at 25X-100X. Below that is pretty safe. Unless Bitcoin drops $100 over night.
:( Says I cant deposit because I'm in the US. Silly governments.
Seriously, wow that really stinks. Time to set up a VPN. ; )
Great Info! Will take your recommendation!
Grow that stack!
Interesting, will take a look later.thankyou
Thanks, Just Sign up using your link..