I've seen so many posts about bitmex and margin trading so I dived in and learned all about it. I figured I could double my btc in minutes rather than waiting weeks for an altcoin to pump! I promised myself I would be extremely careful with it and not make stupid greed trades.
After 2 days, I lost 0.3btc. I had 0.7Btc left. Not the end.
I deposit 0.3 more btc. After 1 day, I lose half of it. Then, i manage to go from about 0.15 to 0.6 btc in like 2 days. I got super excited and confident. I could beat the market!
The same day, I go all in with one trade. I wait for a small pump to confirm that a pump will happen indeed. The small pump happens, I go all in. The next second, a crazy flash dump happens.
0.1 left. I transfer my last 0.4 from binance to Bitmex. This was 2 days ago
Guess what happened next?
In 2017, I had 150k in crypto. After the market crash, I was left with 1 bitcoin. 1 bitcoin that i held for 2 years. 2 years gone in about 2 weeks.
I cannot imagine how many people will lose their savings when binance opens up margin trading. So many people already do in Bitmex alone.
What hurts is not losing my portfolio. What hurts is knowing I will probably miss the crypto bull market while I work in a shitty job and try to make it all back.
Thank you for posting this. I hope you can turn it around.
Leo Wright
cool reddit spacing faggot
Hunter Jenkins
Should have just bought LINK
Jordan Martinez
Binance will only have 2x leverage. Sorry to hear that lost about 0.5 btc on Bitmex on 3 different occasions and always because a flash pump or crash happened. They see your positions and move the market the other way
Juan Adams
There is no cure for stupidity user. Why not buy another btc and margin gamble again.
Xavier Martinez
Never ever go to Botmex
Luke Morgan
Bitmex hunts longs/shorts. That's all they do, liquidate traders
Owen Stewart
Sorry user, I will never use BitMexico.
Alexander Reed
Bless you, OP. I lost my final 4btc on the 'mex last summer.
People tried to warn me, but I went anyway. It's a total fucking scam.
Stay safe.
Joseph Brooks
Thank you for paying for our future lambos
Gavin Flores
2x is equivalent to to 100x in btc since alts go up 50% in a day if alts is what's being marginex
Cooper Cook
exactly. what a moron.
Landon Collins
This is why I don't even have an account. Not even going to research how to margin trade because that's the first step to the bogs.
Brandon Sanchez
what was your leverage? id never go above 3x and need some patience. I noticed ill always go green before margin call on 2-3x
Easton Cooper
LOL was anyone else here end of April when that guy kept shorting 4100 with 50x leverage
Nathaniel Hill
1.75x leverage on mex is liq at 4800 seems like safe bet besides funding
Camden Wilson
Copy pasta from r/bitcoinmarkets
Gavin Edwards
I lost everything margin trading on Poloniex right before everything pumped before. Had I just held onto what I had I would have been a millionaire but I lost it all in one margin trade. I was depressed for about a year and just did nothing but smoke weed heavily all day but eventually my motivation came back back and I have recovered and learned from my mistakes.
Now I'm back heavy on the adderall working from home making around 10-15k per month and putting it all into crypto like before.
I'm sure they dump the price of BTC just to hunt one of their many thousands of customers who's gambling with the massive amount of 0.3 BTC, just to liquidate him solely.... This shit is worse than flat earthers, my god.
Are you retarded? Look at the btc chart. It's just massive green/red candles surrounded by tiny sideways movement. They examine long/shorts and then liquidate in the direction that will make them the most money
Benjamin Moore
made this mistake on primexbt. Luckily $600 was all i had but i learned my fucking lesson. i gotta work a shitty job too because im too afraid to sell my tangible investments. So youre not alone.
