Biggest Scam

[Anonymous No.17275887]

Seriously never touch this website at any point of your cryptocurrency carrier. I started investing august 2017 which you could consider as coming relatively late to the party. I put in 500€ and had 10k from just holding shit like EOS, SAN, ETH and BTC. I lost a big chunk of it trading on bitmex in a couple of weeks. I had 2k left and had it in BTC for a few months then gambled it all away on bitmex.

This procedure happened twice now because im a dumb fuck. But let me tell you, bitmex is worse than any slot or table game in this world. What is your experience with Bitmex?

[Anonymous No.17275920]

Bitmex is like any other leverage platform, you need to be a professional day trader who sits in front of screen charts 8 hours a day. Then never use above 25x leverage. Cash out profits whenever you win a trade.

[Anonymous No.17275935]

>>17275887
Losing all your money on Bitmex is a rite of passage. It's the only way newfags will learn.

[Anonymous No.17275943]

>>17275887
bitmex is for professional meaning I make a living doing this type of traders.

It takes years to get consistently profitable in trading.

[Anonymous No.17275950]

>>17275920

i would say never above 5-10x.. I mean i did weeks where i doubled my money but you will lose it in the end no matter what imo. self control is needed here and it sounds easier than it is

[Anonymous No.17275957]

>>17275887
lol are you me? I got in in aug 2017 too and lost about 2k € on bitmex.
Every time I lose I withdraw whatever I have left, but after a few months I always start again with a few hundert euros. I could do it bybit or kraken futures or wherever but I got to admit that the site is so easy to use and slick (apart from the overload ofcourse).

[Anonymous No.17275966]

>>17275943
How many years does it take to be consistently profitable trading on an exchange that trades against it's users?

[Anonymous No.17275983]

>>17275920
>>17275950
what are you talking about x10, x25? Are you stupid?
Every profitable trader uses cross magin and stops and margin is mostly around x1 to x2 otherwise your always at risk to lose everything when liquidity issues arise.

[Anonymous No.17275985]

>>17275887
>Seriously never touch this website at any point of your cryptocurrency carrier.

Based and please listen to this pilled.

Do NOT go on bitmex. Don't even open the fucking website once. It is DANGEROUS to your psychological wellbeing.

[Anonymous No.17276002]

>>17275957

This is the kind of scheme i did back then. The last time was in July 2019 which im happy about. I don't think its possible to sustain being profitable on bitmex except you are a professional.

[Anonymous No.17276004]

>>17275966
kek

[Anonymous No.17276005]

>>17275966
Ideally work your way up to a platform that works for you anon.

[Anonymous No.17276019]

Run by an unprofessional and scammy black man. Open at your own risk

[Anonymous No.17276021]

>>17275920
profseeional traders need 1-2 hours a day to set up all their trades. the only people that sit in front of charts for 8 hours are wannabe trader soibois that most of the time aren't even trading profitably. in fact, it harms your trading if you watch it play out live since that tempts you to interfere with whatever trades you set up.
>>17275887
imo it's twice as hard to be profitable on bitmex as on other platforms because those retarded "system overloads" cause huge slippages on your stop loss which caused me to lose like average 25% more on invalid trades than i intended to. use bybit for example it's a bitmex clone without overloads and all trades are being executed where they're supposed to

[Anonymous No.17276023]

bitmex is unfortunetly the only way to make btc without having to pay taxes on gains on said btc then u just send it to a wallet and wallah! just like that you'll only end up paying taxes when you sell for fiat. the issue is every major play is aware of this so they are all trying to maximize profit there. the new fags go there thinking 10x-100x leverage is hot shit but in reality using leverage that high gets them sniped by the big players and when they get liquidated arthur makes the money however at the same time the act of them getting liquidated fills the big players orders and the cycle repeats. i reccomend 1-3x leverage meaning at 1x btc would have to dump 100% for you to become liquidated. at 2x it'll dump 50% and at 3x it'll dump 30% as long as you DCA into a low leverage position just like how you DCA through coinbase you can make bank. it's also about trading strategies, you can scalp without going to USD and reap the benefits in btc. it's all risk management, idea is to make a few calculated high leverage trades. ei going 10x with 0.10 btc at 3k would mean it costs 300 to borrow 3k when btc goes to 9k that is a 3x what you end up getting is 3 * 1 btc which is 3 btc however since you borrowed 1 it is 3btc - 1btc so your profit is 2 btc but you only risked 300.

[Anonymous No.17276040]

>>17275966

i would not recommend you trading on bitmex. It looks way to easy. Back then I was like "can't be that hard, all these people on 4chan are just dumb"

Trust me dude, don't do it. Just hold sell If you are happy with your profit

[Anonymous No.17276043]

>>17276021
>those retarded "system overloads" cause huge slippages on your stop loss which caused me to lose like average 25% more on invalid trades than i intended to.

no point in having a stop loss on bitmex, you'll get scammed eventually

[Anonymous No.17276057]

>>17275950
>i would say never above 5-10x.. I mean i did weeks where i doubled my money but you will lose it in the end no matter what imo. self control is needed here and it sounds easier than it is
that sounds like youwere risking more than 2% on your trades which is fucking retarded. you don't need self control you need risk management

[Anonymous No.17276059]

Literally, just look at Arthur Hayes's Twitter and tell me if you'd trust your money on his site. He is a manchild

[Anonymous No.17276069]

>>17275920
there are profitable strategies that require 1 hour of chart watching a day

[Anonymous No.17276072]

staying there after they sent your email adress to other users is called 'stupid'

[Anonymous No.17276095]

>>17276057

Yes and this is the part where i cannot control myself. At some point i start being greedy and think "I'm 100% sure this will dump/pump" and lose a lot. It's way easier to just hold.

[Anonymous No.17276120]

if you lost money on bitmex you deserved it

1) because you are a cuck
2) because you give money to niggers
3) because all gamblers lose everything they have

[Anonymous No.17276129]

>not managing risk
>It's Arthur's fault

Ok

[Anonymous No.17276134]

>>17275887
Why the fuck would you ever get liq'd?
never use cross, Place stop loss before you enter the trade, have profit targets set and never risk more than 2% of your account.
Use an API tool and you can do all this without needing to calculate risk while also skirting around the websites shitty overload issues. I trade through an API, chart on tradingview and barely need to go to the site. Bitmex is fucking great if you're not a monkey

[Anonymous No.17276164]

longing XRP 2x a few days ago would have got you liquidated. think about that

[Anonymous No.17276179]

>>17276134

Or you just buy and hold. If you are a profitable trader on bitmex for more than 1 year I would like to know your ROI. I'm just curious because i think you go better with like i said, holding a few cryptocurrencies/stocks

[Anonymous No.17276181]

>>17276134
so where do you exactly trade then?

[Anonymous No.17276255]

>>17276134
>never use cross
why the fuck not? I literally just enter positions and can't be liquidated cuz of the position size compared to my balance. You literally can't lose money if you go long and have patience. Are you retarded?

[Anonymous No.17276256]

>>17275887
you are fine if you lost 2k, i lost 51btc

[Anonymous No.17276281]

>>17276181
bitmex, I just use a tool to set orders, it calculates the risk/acceptable leverage based on where the stop loss is. My stops are always pretty tight so I get stopped often.
So, I've tried 3 times to short ETH the past few days but got stopped on the way up. finally one stuck from 284. Already taken 2 profit targets and moved the stop down into profit. Will let it run and collect the funding.
(Funding on eth shorts is fucking sweet)

[Anonymous No.17276285]

>>17276181
on the web interface of his api tool, can't you read?

[Anonymous No.17276301]

>>17276255
>risking your entire account is a smart move
ok. you carry on doing that

[Anonymous No.17276329]

>>17276301
how is my entire account at risk? My liquidation price is literally 0 on all my trades. Gone from 0.25 to 1.73 btc just entering small trades without any chance of liquidation and taking profit when i can. Seems to be going great so far. I did get cocky once on the tron pair and set a too big order right before bitcoin had a run up, almost liquidating me, but i learned from that.

[Anonymous No.17276354]

>>17276256
i lost 10k€ in total but I'm fine. 51btc sounds horrible.. i hope you are good! remember that there are things more important than money
>>17276329
you'll lose it all mate. This will happen again.

[Anonymous No.17276360]

>>17275957
I fail to understand why people don't use deribit which also offers p2p options trading

[Anonymous No.17276367]

>>17275887
>carrier
>cryptocurrency carrier

how much BTC for your own floating castle?

[Anonymous No.17276369]

>>17276021
lol, I remember sitting there dicking around with the orders like an idiot.
just setting up the trades and checking how they went now and then easily removes 90% of the stress of it

[Anonymous No.17276371]

>>17276285
>api tool
do you need to code something like this yourself?

[Anonymous No.17276387]

>>17276367
>cryptocurrency carrier
my english isn't the best haha im sure i wanted to write career

[Anonymous No.17276425]

>>17276354
>you'll lose it all
no, i won't. I never use big orders anymore, the multipliers on cross is so big that you don't need big positions to make money. I literally cannot be liquidated

[Anonymous No.17276449]

>>17276387
I'll take a heli carrier too my fortunate son

[Anonymous No.17276581]

>>17276371
of course. Or use one someone put together.
>>17276329
carry on. I never touch cross, but that's just personal choice. seen what can go wrong very quickly too many times. but that was mainly idiots throwing the whole account on it.
> I literally cannot be liquidated
so if your trade is invalidated you just sit there losing money?
why would you want to stay underwater on a bad trade?

[Anonymous No.17276611]

>>17275887
I lost 1 ETH on Bitmex on some bullshit flashcrash.
Never touched this nigger exchange ever again.

[Anonymous No.17276660]

>>17276581
You don't lose your money until you actually finalize the trade. That's why i only go long, shorting is scary cuz that way you might never recover from the trade and you will get liquidated eventually. If i go long my liquidation is 0, and i've been underwater on many trades, but with patience you'll always end up with a profit, because these alts have been fucked in the ass for a good 2 years straight now, and they will continue to go up now. I mostly look for quick 0.01-0.05 profits per trade. I dont sit in a trade for very long.
Right now every alt has taken a huge hit and i've entered longs on every one of them on bitmex with a liquidation price of 0

[Anonymous No.17276681]

>>17275887
Never used bitmex, only bybit. I heard that people have issues margin trading on bitmex like the system doesn't let them close positions and shit like that.

[Anonymous No.17276706]

>>17275887
>it's a scam because I'm a degenerate gambler
Retard. If you had used proper stop losses the most you would have lost is 1-2% of your account per shitty trade.

[Anonymous No.17276779]

>>17276660
I couldn't do it. I'd rather get stopped 3+ times and look for a better entry than sit in a losing trade hoping that the trend didnt just flip on me
>they will continue to go up now.
and what if this 2 month run up was just the up-leg of the greater downtrend? i'm legit curious, why dont you use stop losses? is it the fear of losing tiny amounts all the time?

[Anonymous No.17276797]

>>17275983
>i'm too stupid to make it work
>that means everyone else is too
Jfc people like you are why it's so easy to make money trading but also why the world is a shithole. Bittersweet

[Anonymous No.17276807]

>>17275887
>because im a dumb fuck
yes
i have been on bitmex for a year now won some lost some but my account is fine.

[Anonymous No.17276820]

>>17276449
what a rustbucket

[Anonymous No.17276877]

>>17275887
Are you me?

>be me, holding shitcoins, making profits just by hodling
>Wow, I'm le trader now
>join bitmex
>lost everything

[Anonymous No.17276986]

>>17276779
i enter my trades when the rsi indicates oversold, so every time i've had stop losses, they just trigger and it blows right up again in price. I've seen myself lose way more money with stop losses, rather than just sit in the trade long enough

[Anonymous No.17277006]

Also lost 2k at Bitmex

[Anonymous No.17277179]

>>17276611
Never lost any money on this exchange as I haven't used it. I've seen that its divergent from other exchanges before crashes...

At the end of the day, most people that don't like this exchange use too much leverage & don't understand market making.

[Anonymous No.17277183]

Dangerously addictive site. First experience I had with it was shortly after the 2017 peak. Deposited 1 btc without a clue how to trade. Lost most of it in the space of two weeks.

If you're going to use it, deposit a small amount and trade with that until you're consistently profitable. If you can't make a profit off of a few hundred, you don't stand a chance trading with thousands.

[Anonymous No.17277248]

don't trade with high leverage if you don't know how to trade dumbass. of course some idiot who has no idea what they are doing will lose all their money on bitmex

[Anonymous No.17277420]

>>17275983
Nigger I've seen guys trade 100x bitcoin and 50x ETH like it's nothing.

[Anonymous No.17277536]

>>17276059

Not really. You’re a man child for thinking eth has value.

[Anonymous No.17277579]

>>17276986
yeah, I see. it happens when your stoploss is in the liquidity pools. If it happens a lot maybe you could try putting your entries around where you think the stop should be.
I just consider getting stopped to be part of the process. as long as your strike rate isnt completely abysmal, the first 1 or 2 profit takes on the good runners quickly cover any losses from previous failed entries.
I never trade breakouts but have orders placed for when the price comes to test previous S/R levels, often it just insta wicks there when your not paying attention.That way you are never chasing price.
Having multiple orders ready in the books is probably the most simple but most profitable change to my trading style. also limiting drawdown with proper risk management is just fundamental stuff.

[Anonymous No.17277640]

>>17276660
you are me 3 years ago. it's fine if you don't have the time to learn how to actually trade. but if you have the time, go educate yourself, it's going to be worth it

[Anonymous No.17277709]

>>17276820
Don't talk to me or my son ever again

[Anonymous No.17277840]

>>17277640
so what do you go through when you "learn to trade"?
setting stops?
going for longer swings?
hedging?

unironically curious because I am a wagecuck and still see it as a gamble basically

[Anonymous No.17277860]

>>17277840
All of those

[Anonymous No.17277871]

>>17275887
ITT: Seething regulationcucks who just got de-risked

[Anonymous No.17277881]

>>17277860
what else?

[Anonymous No.17277886]

>>17275966
it take losing 100k plus dollars to learn how to trade. Dont

[Anonymous No.17277895]

>>17275887
Got JUSTed?
Me too hahaha shit happens bruh

[Anonymous No.17277908]

>>17275887
>giving your money to niggers
Yikes

[Anonymous No.17277932]

>>17277881
I would say look up
Wyckoff method and Dow Theory
basically learn about trend and where you are in the greater trend and what to look for in reversals

[Anonymous No.17277967]

>>17275887
You are very similar to me but with one difference, you dont take responsibility for your own actions. I've lost UNCOUNTABLE amounts of money on that website, and aside from one liquidation that was caused because of the way they measure mark price, it was always my fault. Bitmex is actual a FANTASTIC platform that works really fucking well. You are just a degenerate gambler like me who cant bear to keep they leverage low but the difference is you cant admit. Mex might be the most solid exchange ever built, it certainly compares with binance and cb

[Anonymous No.17278030]

>>17276059
>he calls XRP and ETH shit on twitter because they are
>doesn't care because retards still trade them on his site
seems smarter than the majority of /biz/lets desu

[Anonymous No.17278032]

>>17277932
damn I always zone out when I hear now stuff I don't know. might getting old

[Anonymous No.17278073]

>>17276425
>I literally cannot be liquidated
we'll see about that

[Anonymous No.17278083]

>>17276059
It is pretty shitty bruh, I dont hold any. Its tied to so many scamcoins and vaporware.. its slow, etc. I mean, it has a lot of development but its making up for it being crap.

[Anonymous No.17278164]

>>17278073
if this nigger scamwicks all the alt pairs down to fucking 0 sats, then yes, i admit he will liquidate me. And if he chooses to do so for a mere 1,73 btc, then he can have those fucking bitcoin.

[Anonymous No.17278281]

>>17277881
desu this IS gambling, you don't know the future. Remove emotion, if you're wrong you're wrong, you ain't fuckin psychic. as long as your up, over a series of trades. thats what matters.
It will take a while to get familiar, So wagecuck, thats the reason why you have a job, you want stability. You have fear

[Anonymous No.17278340]

>>17278164
>being this serious
>not able to recognize meming
fucking newfaghot plebbit bitch. fuck off back to your safe space.

[Anonymous No.17278387]

All these “expert traders” but no proof hahahahaha
anons don’t bother if they don’t post their ROI or trade history
Bitmex is gambling regardless. You statistically have a better chance HODLing through 2016 pump than making a 5x long and hoping it doesn’t suddenly get LIQ’d due to some whale coordinated dump or shit news out of nowhere.

[Anonymous No.17278665]

Degenerate gamblers ITT

[Anonymous No.17279106]

>>17275887
you need stop loss fren

[Anonymous No.17280091]

>>17278387
>asking for proof when you wont believe it anyway
Everything said ITT is either complete bullshit or truth. it isnt hard to distinguish the two if you use some common sense.
You either learn to trade the markets by putting in the screen-time or get rekt by not understanding even the basics
so It's this simple, stoploss defines your risk. find your stop before you enter the trade and calculate the % of acc risk. if it is too wide then dont do the trade. risking just 1 to 2 % of your acc even at retard level 50X isn't gambling when you learn how price action and S/R works and with proper risk management you dont ever need to be liquidated. you dont even need to have more winning trades than losing ones to be hugely profitable. or you can just buy and HODL shitcoins hoping they dont crash when you next wake up like most idiots in crypto