/biz/ - Business & Finance

Fuck off shill

>>17616121
you sour?

>>17616109
no

its a serious question. i am not going there to gamble on 100x like some retards. I have an actual system working.

>>17616168
ok thank you!

isnt it a bit fucked up though?
or do I have to open a perfect hedge 50/50 long/short before going to sleep?

nobody?

ok I got it, if anyone else wonders,
open a short on bitmex and open an equivalent short on another exchange

Where did this man touch you?

>>17616421
obviously meant equivalent long.

>>17616450
just use limit orders bro

>>17616421
???

>>17616109
its only btc

What the fuck is this thread

>>17616690
>>>17616490
is to protect from overnight dump risk while you are not trading. like that your short is balanced out by an equivalent long (50/50)
who is the brainlet here?

>>17616749
You do realize all trades are settled in Bitcoin right? Meaning you’d have the exact same amount of Bitcoin with your “hedge” actually less because of trading fees. Your still exposed to downward price movement on BTC. You are really, really incompetent and should stop trading immediately if you cannot conceptualize absolute basics such as this.

>>17616749
this sounds a lot like definitely losing money my man
Just let the btc sit there and enter a position when you have one

>>17616212
don't hedge
>>17616749
don't keep positions overnight

>>17616749
1x short on bitmex is synthetic USD so if you have $100 worth of btc, it'll stay at that amount whether it moons or drops.
you get a tiny bit of funding (interest payments) too for the most part.

>>17616109
No its in btc, if u want to keep ur usd value the go 1x short ur btc. You will keep ur usd vaue and you accrue from funding since its positive in bull markets

>>17616926
>>17616978
thanks for this. will look into what synthetic is on bitmex. on first sight it makes absolutely no sense. how are you protecting yourself by going short? will have a look.

>>17617197
You need to consider that Bitmex deals in Bitcoin. Your buying power is based on bitcoin, with no open positions you are basically 1x long Bitcoin. Read Bit ex documentation before you start trading and understand the perpetual futures swaps and how they work. You don’t know what you are doing right now and that is a recipe for disaster.

>>17617235
well, that is why I asked this question in the first place because you are obviously long just be having your btc there since they dont offer usd.

>>17616109
don't ever use bitmex, unlike proper exchanges it's a scam, bitmex can rig your actions to his benefits if he wants to, it's gambling, use binance and others if you want to make real money

>>17617276
Correct, go read the documentation. If it doesn’t make you turn tail and run away from bitmex, you didn’t understand it. These swaps are designed to suck money from the uneducated retail trader. For example on a 100x position you will pay a 15% round trip fee for a market order and will be liquidated with less than a 0.47% move. You’d think it would be a 1% move, no. It is designed to liquidate you.

>>17617285
>dont use bimex its a scam, use binance instead

>>17617503
>derivative
>3 trading pairs
sure binance is not better

>>17617375
market orders are no good since they are super expensive on bitmex and they are multiplied by leverage. basically they incentivise limit orders by giving a rebate which is why bitmex interests me since a few days. I have literally closed positions on exactly the same price and came out in a small profit. Everything that you do you have to research and know how to use properly.
I use Binance already for swinging based on mostly self-written algorithms over some 20 alts. these are happily running. small position size in each of course, no leverage (max. 1.1x or 1.2x sometimes to stretch things out a bit)
I am exclusively interested in system/algo trading either manually executed or automatic. Trading can be very dangerous and using algos can really help you out. Ive already tried the discretionary approach but it just does not cut it for me.

>>17617747
by incentivising limit orders they provide liquidity to whales and everyone below. The only exchange I would use market orders on is Binance

>>17617375
>Correct, go read the documentation. If it doesn’t make you turn tail and run away from bitmex, you didn’t understand it. These swaps are designed to suck money from the uneducated retail trader. For example on a 100x position you will pay a 15% round trip fee for a market order and will be liquidated with less than a 0.47% move. You’d think it would be a 1% move, no. It is designed to liquidate you.

this is utter madness, how can such a thing continue to exist?????
as it goes, i've literally never seen anyone claim they made a trade on bitmex and made money, everyone gets liquidated.

>>17617747
Yes that is what I said.

Be aware that Bitmex has a trading desk and actively trades against its clients. They can see your orders, stops, liquidations. You are at an extreme disadvantage on the platform. Also their trading desk gets priority fills/ can trade when system gets overloaded. They also have access to a type of options contract on the perp swaps that nobody else has access too. You really should not trade on Bitmex, the odds of you coming out on top and immensly small.

>>17617768
By operating from overseas tax havens with no financial regulations. There is a reason they have “never allowed US customers” even though that is easily bypassed with VPN, intentionally. It is because the SEC would be so fucking far up these guys asses.

>>17617285
the truth is that they are all scams. some more than others but still scams. life on earth can be a scam as it can be heaven.

I would never do more than 10x leverage and even this on a small amount and with the backing of an algo.
as soon as you go 100x and you are basically asking for it. its even written in the bible. greed will be punished.

>>17616109
no xbt is basically btc hat is not yours anymore but arthurs.

>>17617851
>>17617900
this is me OP but different ID.

what about the others like deribit or bybit? are they as scammy as bitmex?

and ftx also. they have altcoin indexes which seem interesting.

>>17618356
>scammy as bitmex
yo you can't trade over leverage and get hunted and blame the exchange?
the only thing i would change about bitmex is the fees for withdrawal it's about 5 times any sane fee as minimum.

>>17618406
>>17618406
yo yo yo! stay cool! you work there or what? since guys above set the tone already I referred to it as scammy asking if they had any better alternatives. and as I mentioned, bitmex does a rebate for limit orders. as long as you have a plan and not smash the market order should survive the fees and even get them because they are literally negative for limit orders.
but seriously, is no one trading on ftx here? they literally have a shitcoin perpetual index with like 10 alts in it.