I don't understand 100x leverage

I don't understand 100x leverage.
Can I turn $20 into $2000?
When do I win?

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you win whenever you close your position
you lose everything if it moves 1% in the wrong direction

Ooh that's cool.
So if I place $20 on 100x, it makes me bet $2000. If it goes up 1% and I close I win $20, if it goes down 1% I lose my $20?

help me I'm brainlet

You sound exactly like the 1% of people who are successful at trading.

>help me I'm brainlet
We know, 100x!

If it goes up 1% you make 100% - fees which are also increased 100x. So usually you have to be at least 15-30% up to break even. If the price goes down 1%, actually a little less, you are forced to market sell and will lose almost all of your money. Also, remember you are buying and selling contracts, which may differ from the actual spot price, so if everyone is going 100x on a break out the price will shoot up and likely correct back down to liquidate you. 100x requires either watching the chart like a hawk to scalp the perfect entry.

Heres your answer looking at your chart:

Assume no fees and you are using scaled ratios...that is, if you buy 1 Btc at 11670, your 20 Dollars will buy 0.0017 of one Btc or about 1700 sats. If you bought that much, your leverage max could service 100x that or 170000 sats. Your buy in is so small though, a 1% change down will liquidate you and you will lose 50% of your moneys.
I dont recommend leveraging unless you have 1 BTC worth of capital and MAX use 25x leverage of no more than 5% of your capital. The bots survive on unsuspecting people like you to feed them organic cash while they wash trade their own stuff and get rich on the scam.

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Am I doing it right?
Why are some orders bought at higher price than the market price?

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Wow I just won 0.0014 xbt.