I've never shorted, but I kind of want to play around with it.
Can someone tells me what happens if I put 1k into bitmex and leverage 100x? Say bitcoin is 7200, how high does it need to go until I get liquidated, and how much do I make for every dollar it goes down?
Also, do I just stop the short whenever I want? Or do I say I want to short until something like 6800 then it stops automatically? Would appreciate it if someone could fill me in on how this all works.
You're gonna get fucked
can you elaborate?
DO NOT SHORT RIGHT NOW. You chance to do this safely was all of 2018. Just study and short after the next great crash if you really want to.
CAN YOU ELABORATE?????
I think he's saying the market is going up right now, smart guy.
LOL, now is a GREAT time to short. Maybe not the best of the year, but certainly the best time in a month. This sucker's rally is about to end (absolutely no chance of $7,700, let alone holding $7,300), and after the massive drop in shorts, squeeze risk is a lot lower now because there's not much left to squeeze.
Go for it user, just put all of your money in and figure it out as you go. This is almost definitely the top, so don't even worry about being liquidated.
I need some basics, can you explain to me how it works?
>Can someone tells me what happens if I put 1k into bitmex and leverage 100x? Say bitcoin is 7200, how high does it need to go until I get liquidated, and how much do I make for every dollar it goes down?
No offense, but if you can't figure this out based on what you already just posted, you are not mentally ready to handle margin. Think about what 100x leverage actually means in terms of borrowing someone else's money and the way it multiplies gains and losses on your fronted capital.