/biz/ - Business & Finance

>>7576659
>how do i even gamble guyz
fuck off

>>7576659
more like JUST general

3x, take a good position + patience = seemingly guaranteed profits.

>>7576659
Do you know what mark price is? Learn what the hell mark price is. I can't tell you how many times starting out I got liquidated on high margin because I was a brainlet and had no fucking clue what mark price is. Also read about their fees. You can actually make money buying and selling at the exact same price if you use limit orders and it makes it into the order book. I paid over $1600 in fees just because I didn't know about this. If you make a limit order in the order book you actually are paid for making that order. Read their fees guide extensively. And while I'm not going to recommend using BitMEX, if you do choose to, sign up with my reference for 10% off fees. https://www.bitmex.com/register/SVU1C1

Additionally, use as many indicators as you possibly can and then only trade when ALL of them say the same thing. Even then you can never really be more than about 60-70% sure about which way the price will go. Also set stop losses, you will be absolutely fucked if you do not. When you get liquidated, they take it all. 100%. Anything else goes to their insurance fund to ensure that winners can get paid no matter what the market does. Like I said before I'm not recommending you sign up for BitMEX unless you are a literal trading genius or a whale who has enough money to influence the spot prices on GDAX and Bitstamp. Don't ever, EVER use for than 25X leverage unless you want to lose your money.

>>7577214
I actually hate making these posts because I spend a lot of time and effort writing them only to have pajeet fuckers copy and paste them and spam them all over /biz/ with their referral code.

>>7577243
Don't give em ideas

>>7577214
thanks for this anon
already have an account but have been looking for advice on bitmex to try to elevate myself from brainlet

>>7577214
>>7577243
>>7577300
to elaborate on this, how have you found the .BXBT correlates with Bitmex pricing?

>>7576659
I got liquidated for .5 btc last night.
Fuck off bitmex.

>>7577289
They steal literally every fucking piece of advice I ever make about BitMEX. Then I've been ban'd for spam before when I copy my own post and repost it because they've been shitting up the board with it 100 times a day. I have no idea how many referrals they've stolen from me. It has to be in the 100's. Jokes on them though because I make almost nothing because I'm actually nice and explain limit orders. I could tell people to market order and make hundreds in fees but I would feel shitty. Like my payouts from 10 BTC traded has literally only been 5 dollars worth of BTC lol. If they were market orders it would be well over 60.

>>7577243
thanks for the idea

>>7577360
Yes it correlates but it can be up to +/-$100 off BitMEXs price. This means a lot when you're trading with high margin because your liquidation price is calculated off of mark price. When the spread is really high, you can be liquidated by a ONE DOLLAR movement using 100X. I never understood this starting out. I can't tell you how much I lost because of that. When the spread is too high, BitMEX actually won't let you place a high margin order because it would be autoliquidated if it was filled.

>>7577405
>be a retard gambler
>lose everything

ultimate kek

>>7576659
BITMEX sux, upcoin is future

Accepting fiat for any currency. Bye bye coinbase
plz use my link <3
http://upcoin
.com/?ID=822451cf

>>7577289
>>7577499
Kek

>>7577243

Do you know what mark price is? Learn what the hell mark price is. I can't tell you how many times starting out I got liquidated on high margin because I was a brainlet and had no fucking clue what mark price is. Also read about their fees. You can actually make money buying and selling at the exact same price if you use limit orders and it makes it into the order book. I paid over $1600 in fees just because I didn't know about this. If you make a limit order in the order book you actually are paid for making that order. Read their fees guide extensively. And while I'm not going to recommend using BitMEX, if you do choose to, sign up with my reference for 10% off fees. https://www.bitmex.com/register/kGmeoe

Additionally, use as many indicators as you possibly can and then only trade when ALL of them say the same thing. Even then you can never really be more than about 60-70% sure about which way the price will go. Also set stop losses, you will be absolutely fucked if you do not. When you get liquidated, they take it all. 100%. Anything else goes to their insurance fund to ensure that winners can get paid no matter what the market does. Like I said before I'm not recommending you sign up for BitMEX unless you are a literal trading genius or a whale who has enough money to influence the spot prices on GDAX and Bitstamp. Don't ever, EVER use for than 25X leverage unless you want to lose your money.

>>7577519
Interesting. So the mark price is basically some sort of average (or something) taken between last price and BXBT.
I won't get into margin trading for a while but I'm just reading up on their documentation.

>>7576659
yeah sure you did OP

>>7577606
Yes, like I said. Read. Read again. Read a third time. Their website is actually very helpful, you just have to make the effort and devote the time to learning.
>>7577665
Are you implying he didn't? I've been liquidated over 30 times. It happens all the time trading with high leverage.

>>7577665
is this the chick that has the sorta drugged out face (in a hot way) with the nigger bf?

>>7577727
Can you elaborate how you would make money buying/selling at the exact same price with limits?

I'm imagining setting (for example) a buy at 8000 with price >8000, then after it goes <8000, set a sell at 8000?

So you'd get a 5% rebate if we exclude other fees for the sake of argument.
Or am I off the mark somehow? I'm probably a brainlet but I can't imagine making money from the maker rebate alone.

>>7577748
kek, keep your cuck fantasies to yourself

>>7577838
And it doesn't go into details on this in the documentation, and this is probably a stupid question, but wrt the "funding interval", it doesn't pay out the 2.5% maker fee every 8 hours right? Only on initial listing of the order?

>>7577438
How can you make hundreds in fees through market orders when they eat up the fees? What?

>>7577838
sorry not 5%, 0.05%*

>>7577874
she looks almost the same my man, its always spammed on /pol/

>>7577838
Okay so you get the .025% rebate for placing the order at 8000. That is multiplied by your leverage. You also get a .025% rebate the price goes up/down and you are able to get the order in at the exact same price because it is a limit order. It's hard to do because you have to manually type it in and then hope it hits. If it goes under your price then you might accidentally make a taker order which then charges you .075% meaning you'd lose money. I know it's confusing and it's really hard to explain. But try it out with like 1 contract on 100X leverage and you'll see what I mean.
>>7577900
Funding rate is calculated based on how many shorts and longs are open. I can't really explain it as it's pretty complicated and I barely grasp it. I never really have orders open long enough to get or pay funding. It often causes a pretty big price change right around funding time.

>>7577962
No I'm saying when the people that have used my referral make market orders, I get a fuck ton more in commissions. If they use limit orders they are paying literally nothing in fees so I make nothing in commissions. I make like 50 cents a day on a good day even when my referrals have traded over 1 BTC.

>>7578040
almost the same as what, your cuck porn? kys

>>7578110

>>7578046
But you wouldn't be able to place the two orders at the same time (obviously) because one would have to be a taker. Also interesting that maker fee is multiplied by leverage.

Wait, so let me get this straight -
If I do 1 contract at 100x lev, then the math would be:
1*0.025*100?
So for a 1 USD contract, I can make $2.5 from the maker fee?

Or am I still not getting it?

remember kids pigs get slaughtered

>>7578170
The fee is based off your overall contracts, not your margin per se. And no you did the math wrong. You need to add 2 more zeros to the 0.025. It should be 0.00025. You would make .025 cents per contract for the buy and then .025 cent for the close. My math may be wrong. You would make .05% though if you were able to get both limit orders in the books before they sell/are bought.

>>7578046
Also thanks for taking the time. I really appreciate it.

>>7578288
Ah shit you're right. So really it's a volume game then. Be interesting to write a bot to game the fees.

>>7578340
See like this is one position. I never paid any fees and entered and exited the same price and actually made a profit. It would be interesting to make a bot but it would like get rekt pretty bad. I just did this for shits and gigs with 100X leverage.

>>7578340
Its not really gaming anything its just market making.

>>7578448
But for both of those to be makers the price would have to be above 8085 for the buy, and below 8085.5 for the sell, no?
Unless there is a big enough spread I guess. But that seems pretty impossible on Bitmex at the moment because the spread is <$0.5, and also because the trades are happening at lightning speed.

>>7578566
Yes. It's hard to do for sure. I was just amazed that it can be done. Back when BTC only moved like 20 dollars a day this was probably very easy to do