Had a stop market order for my shorts at 6500ish and it got filled at 6933. I literally bought back into the top of that huge ass dildo, thanks to my stop market order. How do i avoid that next time?
Had a stop market order for my shorts at 6500ish and it got filled at 6933...
Jason Parker
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Dylan Wood
Holy fuck thats retarded...sory to hear that user...It happened to me a few times but the fill price was max 100$ above...they have a shitty matching engine
Josiah Russell
you can't.
The 300$ pump was instant so every bot bought as well. Then the shitmex system just executes every order that has been triggered.
Austin Cooper
>Then the shitmex system just executes every order that has been triggered.
So what exactly happened. This wasn't a 'short squeeze' then? Just a technicality?
I'm so confused to price direction...
Daniel Reed
just dont leave an open position during a scheduled downtime next time
Jack Gray
Check always twitter of your exchanges when trading. They announce maintenance 1-3 days before. Cancel all orders beofre the maintenance.
Henry Taylor
Stop margin trading
James Reed
It was a short squeeze, but it was just a fucking huge market buy.
Look at the 1min candles, just a one fat 300$ candle.
That means that the price instantly shoots up to 6,8k triggering all stop losses of shorts which the shitmex systems just can't handle. Classic example of slippage.
Lucas Rogers
you can avoid losses by avoiding the scam that is bitmex
Samuel Sanders
Shitty
Dominic Hernandez
Why is bitmex a scam you nigger? It's literally the only exchange that has never been hacker...
Ryan Stewart
My stop limit is still unfilled
heh, lucky for once. thanks bitmex
Christopher James
Bitmex just skip the hacking part and steal your BTC themselves.
Deribit now have perpetual swap like bitmex, 50x leverage but cross only, it's a little less noob friendly but no lag, they actually have protections in place to prevent mark price spiking and stop hunting, liqs just market sell rather than taking your entire balance, unrealized profits go into margin unlike bitmex. Jow Forums can use my shill link for bitmex style fee discounts deribit.com
Joseph Allen
doesn't know about price manipulation
Juan Smith
They process all withdrawals by hand once every 24h. They are literally using a hardware wallet for sending funds lol
Austin Powell
Yeah I wasn't liquidated eventhough price jumped to 7100. I'm just trying to figure out what happened. Divine intervention or I just got lucky. Still on the losing side of a short though, was expecting BTC to go to 5800.
David Young
dont use stop loss orders
i mean it
Jack Morales
Use stop limit
Bentley Reyes
A stop limit would not have gotten filled either since the price jumped way above the exec price
Carson Diaz
Care to elaborate why?
Andrew Anderson
because there is no way to properly set your stop loss order
the term "stop loss" is just a bad term for what a stop loss order does. actually its a conditional liquidation of your position that stops you from losses AND profits
and im not even talking about margin trading yet. there this whole stop loss thing is even worse since stop loss orders are no guarantee. it cannot be just by the nature of it. your stop loss order can be left behind and not trigger and there is nothing anyone can do to change that
Sebastian Robinson
having stop loss is like giving a blank check to your exchange
good goy, do it
Jaxon Smith
Yes faggot it means your 1000 rupees worth od btc are in cold storage...how is that bad?
Dominic Lopez
So you in case you predicted a wrong price action you would rather want to loose your whole position and cut more losses? Care to elaborate why?
Julian Brooks
atleast if you're retarded. i made 15k on a margin trade this night, most people work months for that. and ofc the 40k my holdings increased in value today. neet life is best life
Daniel Price
>Care to elaborate why?
Bitmex insiders take all the liquidity on huge moves, your stop will never get filled anywhere near the price you set it at, use isolated margin and liquidation as a stop, that way the insurance fund pays for the lack of liquidity.
Andrew Mitchell
So how does the insurance fund work exactly? Also how would you use the leverage as a stop? You mean to choose adynamic leverage based on the order and where my stop should be?