What You Should Know Before Going Bitmex - Warning! New traders, small traders enter bitmex all...
But can you stop for a second and think about how this money is made, leveraged and what your odds actually are.
First the costs of leveraging:
1) Price - you have to pay bitmex provision for getting you a leveraged trade, and those are quite high, however the biggest cost of leverage is...
2) Liquidation - once the point of liquidation is touched - you lose all, your entire position, even if later it goes in the direction you might have hoped for originally.
This sounds like basics, but bear with me, I decided to write an official Blockchain Whispers report about Bitmex trading to save money to the MOST.
First of all, let's start with logic.
If you do 100x, you must be 100 times more right than an average investor, a HUNDRED times, right?
Because as if 100 to 1 is not bad enough, your odds are actually much worse.
You see, there are whale groups, there are advanced AIs hunting to liquidate more contracts so their payoff could be bigger. Do you have bots? Do you have friend whales to help you push in the opposite direction?
There you have it - your odds just worsened, to put it in perspective about 800 to one.
You have a better chance of going to a roulette and hitting a couple times the exact number on which you put all your money, and reinvesting and hitting it again, than you have on bitmex at 100:1
Okay but D man, you own the most accurate channel in the world, you must know the guys who make money on Bitmex
Sure I do, even small traders, but they ALL have their proprietary techniques. Not ONE SINGLE goes to bitmex puts a buy order at xxx and sell at xxx, goes jerk off and waits for his bitcoin to turn into one hundred.
What about smaller leverages?
It is ALL the same!
Why - the principles are the same, just at 4:1 it requires way stronger push power from the whales to get you liqudiated, and the 4x is exactly the maximum point you should EVER go as a newbie, or even advanced without a special edge trader.
You think Bitmex whales don't follow Blockchain Whispers?
They started among the first!
You think they don't know what you're doing - they are proactive, the big money is on the line... they are using everything at their disposal. Why I even stopped with btc and short term calls - because our channel got too powerful that it started changing the direction.
I know how attractive it can be to see btc at 6000 with one short, but btc WILL get where I tell it to get, but not in a way you think it will... it will be a curvy road... it's like a magnet guys, it's attracting it, but there are forces, whales for example, sentiments etc, pushing it away, and pulling it closer.. liquidating weak lone wolves along the way.
And this is ALL without listening to rumors, about Bitmex paying to get you liquidated etc etc.
Your odds are low enough.
Why you think that I with the most powerful crypto premium group in the world declined so many requests to open an additional stream of income for me and start offering bitmex calls?
Because my ethics don't allow me - there is no way I could get a sustainable profit on bitmex to a group of over 10 people. Plus my team isn't focused on Bitmex, we don't have the AI - surely I could get it etc etc, our bot is already one impressive machine, however, fuck that.
Resist the get-rich-quick urge with bitmex, and saveyourself money. The fastest way to get rich in crypto is slowly but consistently: by 1) reducing mistakes 2) making good long term calls and 3) putting the odds in your favor.