[Kentemo]

I sometimes trade on BitMex.

Usually quite passive, mainly swing trading, after break outs or when I consider price to low or to high, I would buy a lower/higher limit entry for 1/3 of my investment. I made a couple of 100$ with it.

Are there any professional Bitmex traders on here? Could you tell me how you get started an what's the main strategy for you?

[BigPoppaPump]

I don’t trade on BitMex, but I used a Copy Trading Service with Binance with professional traders. Fees vary by trader

[The Grey]

I have traded quite a bit on Bitmex. My favorite exchange for doing swing trades on BTC. In the degenerate cryptosphere Mex is the exchange I trust the most in terms of risk. Reason is they to a larger degree focus on not loosing crypto on their platform and create fair trading environments (Relative to crypto as an asset class that is). They like all else use market makers and give them lots of benefits you and I don't get.

My strategy is using technical analysis where ichimoku, MA's and volume are used to understand the forces of supply and demand. I take both short and long positions using conservative margin.

My advice to you:

Your main objective is to not loose your capital. As there are a multitude of ways to get fucked in trading, read all of this Bitmex Trading Overview. Might sound like a lot but you need to understand their system. For ex when trading with 10x leverage, you are also paying much higher fees than normal

For their XBTUSD perpetual swap, price is made up by all the largest exchanges. This is beneficial to you trading on it, as it take a huge effort and resources to manipulate the price (Doesn't mean it doesn't happen). Last time I checked for their ETHUSD market they only use the price of ETHUSD from Poloniex which had low trading volume. This creates a scenario where the cost of manipulating the price on Poloniex is lower than the profit they could make on Bitmex. I know this has been exploited multiple times as it only takes a few million USD to manipulate the price on Poloniex taking out a huge amount of traders on Bitmex. Could still be the case, haven't checked how it's structured now.

Be careful of using leverage and if you decide to do it, use max 2-4x to begin with.

Trade with insignificant amounts to begin with to get accustomed to their speed, order system etc.

If you have more specific questions I'm happy to answer.

[Jean Gabin]

Bitmex is definitely where the money is right now, note that it's a zero sum game (for every winner there is a loser) while crypto in general has been more a ponzi with all the shilling etc..

The last 2-3 months I've been pretty deep into Bitmex and developed my own strategy based on multiple indicators (this really took a lot of trial and error..). I mainly do scalp trades on the 5m chart at high lev (20x-30x). I also do longer (and bigger) positions (4H-1D scale) on solid trend reversals at lower lev (tip: get 2 bitmex accounts or more, it's also allowed). My preference goes out to 5m scalp trades as it has less exposure to any external FUD (any BS news can tank/pump the price, just look at ETF delay recently) when there is a lot of volatility and you can be in an out of a trade within mins to max 2-3 hours and don't wake up soaked in sweat in bed checking your position at 4AM.

On my to-do list is learning how to open positions on big liquidations. I know 2-3 people who trade like that and within 5 mins can make an insane profit.

[The Grey]

(08-14-2018 10:22 AM)Jean Gabin Wrote:  

My preference goes out to 5m scalp trades as it has less exposure to any external FUD (any BS news can tank/pump the price, just look at ETF delay recently) when there is a lot of volatility and you can be in an out of a trade within mins to max 2-3 hours and don't wake up soaked in sweat in bed checking your position at 4AM.

Been there done that haha

How successful is your system after you got it down? What's your winrate and your typical risk/reward ratio?

[Kentemo]

Yeah, I'm looking more to learn how to successfully swing trading. Scalp trading is nothing for me.

I feel like there is less stress, looking at the 4h/1d charts, and choose your directions based on different factors.
Thanks both for the info. @The Grey, thanks, will read that article, and also your strategies based on supple/demand.

Will probably reach out soon with some questions.
And yeah, Bitmex seems were the money is right now. But I feel in Q4 2018/2019 markets might reverse and go bullish.

[Pinocchio]

(08-14-2018 10:22 AM)Jean Gabin Wrote:  

Bitmex is definitely where the money is right now, note that it's a zero sum game (for every winner there is a loser)

It's a negative sum game when you take into account fees.

[The Grey]

(08-20-2018 02:38 PM)Kentemo Wrote:  

Yeah, I'm looking more to learn how to successfully swing trading. Scalp trading is nothing for me.

I feel like there is less stress, looking at the 4h/1d charts, and choose your directions based on different factors.
Thanks both for the info. @The Grey, thanks, will read that article, and also your strategies based on supple/demand.

Will probably reach out soon with some questions.
And yeah, Bitmex seems were the money is right now. But I feel in Q4 2018/2019 markets might reverse and go bullish.

True. Low timeframes are much more random. It's like predicting where a dog will run when you release it in the park. You can make satoshi's there by high leveraged precision trading, targeting bounces of strong levels of support and resistance lvls. But it's for seasoned traders. The stress is also tremendous. Latter is why I quit doing it, made solid profits but became a slave to the screen. You have a much higher chance of success if you focus on long term and fewer trades. Slow is smooth, smooth is fast.

If you want to build a fortune that will last you a few years or more, don't rush into it.

In the markets everyone is out to steal your capital. Still the biggest enemy as a trader is you yourself. You have full access to your biggest enemy. Use it to your own advantage.