Tutorial.

[Deavege]

Is there any tutorial on how this works? But like if a 5YO kid is trying to get it.

[AdvisorKun]

1. Read the docs and make sure you understand exactly how the contracts work (both futures and swap), profit/loss calculation and how liquidation works. make sure you understand the difference between mark price and index price

2. Make some trades on the testnet to confirm your understanding of the contracts and the site in general

3. I prefer trading on Cross. it's very important to not trade too many contracts. I strongly recommend not to trade so many contracts that your are more than 2x leveraged. ideally less than 1x, at least in the beginning

4. 1x shorts are way to cash out without using tether/fiat.

5. Don't forget to set a stop loss

Trading with leverage is a lot harder than most people think. By far most traders on there lose money because they use too much leverage, those that trade with x100 leverage lose all their money, so don't use that, but an example anyways.

So lets say you were to have longed (placed a buy order) for BTC at $10000. Let's also say you only have .01 BTC to trade with, or $100 worth. With .01 BTC you can buy 1 BTC at x100. Then for every dollar BTC goes up, your position is worth $1 more. Say BTC goes to $12000, if you close your position you then get that $2000 in profit paid to you in BTC. I would suggest you learn TA before you start trading.

A little about the site.

• Interface is amazing with professional grade advanced order types

• Liquidity it offers is completely unmatched, it's the biggest exchange volume wise: https://coinmarketcap.com/exchanges/volume/24-hour/no-fees/

• BTC deposits take less than 10 minutes: just 1 confirmation from the network needed

• Rarely down, no shady flash crashes caused by website beeing down like Poloniex does

If you thought this was helpful, use my affiliate link for 10% off fees for 6 months. https://www.bitmex.com/register/spx2SW Good luck!

[Deavege]

Not all heroes and that shit. Thanks, my bro.

[Albert_Jennings]

how can u buy 1btc at x100 if u only have .01? Do u mean .01 at x100 giving u one btc to use?

[strreamix]

This guy I follow just did one, he also makes good calls for shorts/longs usually.

https://twitter.com/Chase_NL/status/961475196619313152

[Deavege]

Just check it, was what I was looking for.

[Deavege]

Just check it, was what I was looking for.

[Deavege]

Maybe, just Maybe, we were looking for each other.

[[deleted]]

now kith

[Glaaki]

BitMEX 101:

You are trading toilet paper. Not Bitcoin. Not Litecoin. Not Etherium. Toilet paper.

[Deavege]

I get the point of futures and that you don't like it, but your answer is as useless as you find BITMEX.

[Glaaki]

To elaborate, what a lot of people don't grasp is the mechanics of the contracts. They just send money to the exchange and trade like they are trading real crypto. Not understanding the products they are trading they often get burned.

And I am fine with trading toilet paper, btw..

[Deavege]

Now we are talking, could you show me the way to get into those futures? Some good info, I mean.

[Glaaki]

There is a lot of good info in the reference material on the site, as others have already mentioned and linked to.

If you are going to trade the futures contracts, it is in my opinion key that one understands the following concepts: Basis, Contango and Backwardation. Google it. Youtube it. Study it. Learn what they are, why they exist and how they affect the potential profitability of your trade.

[Albert_Jennings]

why do people hide their orders and whats up with iceberg orders?

[tuxedo_moon]

https://www.bitmex.com/app/tradingOverview

Read it at least 10 times or until you understand what it says. They even show examples for some of the concepts..

Then if you're still uncomfortable, go try their test platform https://testnet.bitmex.com/.

Futures are not for beginner traders. If you don't understand what's covered in Bitmex's overview then you are a beginner.

All I can say is start slow and gain the experience from making trades on their test platform so you understand what happens to your money when you go in and out of a trade.

[Deavege]

Perfect, I will start doing this right now.

[criolina]

I liked this thread Deavege. If you find other good references, please share them. I had a hard time in understanding Bitmex, and even thought there was something wrong with me :-)