Wish me luck, guys

This is not going to end well

>shorting $450 at 100x leverage
this is why the poor stay poor lol

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>doesnt understand that leverage trading, when combined with a bit of self education, can give you 10-20x your stack when all the hodlers will just have what they started with
>isnt multiplying his satoshis while satoshis also go up in value

RIP money.

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Literal gambling

Momentum has run out, it's going to drop any minute.

It's also a great way to piss away all of your money.

dudes got 6 BTC. hes betting 1% of his stack on a pretty solid call, but yeah i guess you could say hes poor staying poor

Godspeed marginbro

prepare to get liquidated OP

I’ve been itching to buy and this is the post that finally made me fomo

i mean yeah if youre an idiot about it, but thats why you shouldnt use leverage if youre an idiot

Gonna market buy and wick up to your liquidation price in 15 mins OP

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>op after getting rekt

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>4.5M
Good Luck

hes betting 6 btc that btc will drop, he will lose once we hit 7452 (which is in 12 minutes).

ITS DROPPING TIME TO GO ALL OUT

HERE WE GO

LAMBO FUCKING NOW

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I assume you are already billionnaire then

>pro tip: you are not

Its only 45k contracts dude

Bullish af

Dude, RSI is way overbought and not correcting. The fact that we haven’t corrected yet when we should have means there’s a little more juice behind the push before we correct.

Don’t wreck yourself bro

look again

450k now

it doesn't matter how smart you are, all it takes is one whale to sell/buy to liquidate your position and leave you with nothing. it's always a gamble even if the probability is in your favor

u fuckin savage no wonder it started trending up again

>doesn't know what risk of ruin is
Do some basic risk management you idiots.

thats why you dont put your whole balance in risky positions... at 10x lev, you would need a 9.8% drop in price to get liqd. thats one hell of a wick

How many times have we seen this story play out, green dildo any minute now, OP vanishes, and probably an heros.

7447 liq? Damn. Good luck I guess.

GET.
OUT.
NOW.
GOD DAMN IT, OUT.

well, that's what I would really call a fifty-fifty, also known as a COIN FLIP

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5 more minutes OP

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Fun watch to watch what happens to OP: tucsky.github.io/SignificantTrades/

This is gonna end so bad

Youre reading it wrong, the margin hes posting is 0.06 BTC at 100x leverage, totaling 6 BTC for his position

OP, post timestamp that its not on the testnet or fake and gay

Good luck OP,
but gambling is degenerate.
It changes your brain chemistry for the worse.

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So his maximum risk is only .06 BTC?

show your stops op

The entire thing is a larp but we can at least have fun with it

Yes, ergo his life savings

well now that he upped it to 450k contracts his maximum risk is .6BTC, but yes thats the idea

you cant lose more than the margin you put in on the position

but it said 45.000 contracts @ $1
?

Yep.

GET OUT WHILE YOU STILL CAN YOU FUCKING FAGTRON

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tfw this whole thread is about a guy gambling $300

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So if you're quite sure about a position and/or get quite lucky are you literally multiplying your potential gains by 100 at the risk of only .6 BTC in this case? So he stands to gain, say, $20*.6*100 = $1200 if the price moves down just $20 from his position? Or am I mistaken?

I'm actually dumping my 500 ETH stack into BTC right now just to fuck you over.
Better get out while you can.

Still feeling good.

Thats his total position. The margin he has posted is only 1% of that

Someone pls answer I'm trying to learn how margin works.

yes

It's $45k, bro.

This absolutely has to correct right?

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Ah, ok.

Isn't it 4.5k? .6 BTC, or 450,000 contracts at 100x = about $4500

Wrong.

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Well, if you HAVE to do a 100x, this would be the best time I guess. We tested 7450 like 3 or 4 times today and failed to break it. You should've waited for the inevitable push to 7430-7440 though. A $10 difference in entry is gigantic when doing a 100x. Good luck, I guess. I have a short open too but not nearly at your leverage.

The formula generally is this:
percentChange = (curPrice / purPrice - 1) * pos * leverage + 1 - fees

Where
percentChange - unrealized PNL
pos - position (1 or -1, long or short)

so what I said is correct, right?

well this is boring

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How much money do you guys actually make from playing with longs and shorts like this? Are you living off of this money?

spoke too soon

Im a n00b with leverage; cant you bet for a bullish and also a bearish trend? two different bets I mean

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I'd say 85-90% don't make shit. 5% make some decent cash and the last 5% can make a living.

Also, potential brainlet question here, but what stops a mega-whale from opening a 100x position and simultaneously dumping enough BTC into his own buy order to tank the price down a certain amount, close his short, and profit a fuckton at the expense of others?

At least try to catch the wick of a swing high you absolute idiot

Just give us a shout when you choose to cover, help your bros out

You could but they can kick you out with a big green and red candle.

that's how it works, user

Sounds about right for anything in life.
I'm not a fan of the way daytrading makes my brain feel though. I tried it a few times and I feel like a douche each time.

Is OP about to make money?
What price does it have to hit for him to cash out?

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Why do you feel like a douche? That doesn't make sense

DING DING DING CASH MONEY

Congrats op

It makes me feel cold and cynical, cuts me off from others spiritually, makes me feel like I am 'above' people, etc. It's hard to explain. I just don't like how it makes me feel.
Not that I am all about love and peace and shit, no, but daytrading just turns it up a notch and I don't like it

Congrats to 6 BTC or how many OP?

>close his short
That is the problem

OP wins

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But if the red or green candle hit my bet, cant I cash out?

>inb4 this thread was viral marketing for BitMex
we're on to you

>That is the problem
mind explaining why?

Like anything in life, it gets easier and less stressful the more you do it. Takes time, practice, knowledge and experience. You should also be ready to lose money in the beginning, you should be ready for that all the time actually but especially in the beginning, no matter how smart you think your trade is.

When does one typically close a successful 100x leverage? Does it automatically close after the 1% change or can you ride the dip and get an extra 100x every further percentage drop? Conversely, can you close your position after a 0.5% decrease, or can you only close after the 1% movement

This thread is sponsored by BitMex :^)

My nigga, congrats OP!

how much did op make?

That makes sense, I'll keep it in mind

you can close whenever you want

Alright, so how much did OP profit in real terms? If his position was $4500, does that mean he made $800 because it was a .1% gain at 100x leverage?

show gains op or kys
simple as that