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  • #16
    Originally posted by Jshine12 View Post
    I sign up but dont understand how to tell when going up and going down. Can you explain?
    You can start by learning how to spot trends, support and resistance and which is part of technical analysis.

    This helps to use historical data to help predict which way bitcoin will go next.

    But crypto can be unpredictable.

    Right now we are sitting at a pivital point so its best to stay on the sidelines to see if we break the $6800 mark or we go back down to around $6200.

    I have a short going at $6695

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    • #17
      Looking like bitcoin will be going down since we are not breaking resistance.

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      • #18
        Got stopped out at $6960 on a short and then we went down to $6540.

        That hurt.

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        • #19
          Ready to start some bitmexing today. Looking at the range between 6660 and 6000 for some scalping for the next few hours. Will be scalping so using high leverage x25 with very tight stop losses.

          I am still unclear if we will start the rise to the next level which is $7800 or if we will go down to around $6200.

          The Bitcoin market is very unpredictable right now

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          • #20
            Yesterday for most of the day we didn't have much action so I was basically scalping which is taking small positions in short timeframes and using a lot of leverage. Then suddenly around 6pm EST bitcoin had a huge drop from $6600 to $6200.

            As mentioned above this was a key point and bitcoin needs to hold here or we risk dropping further to $5000.

            Will continue scalping for now.

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            • #21
              How was yesterday? Any big gains?

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              • #22
                Learned some hard lessons today:

                Was doing good trading on Bitmex the last 2 days by scalping.

                Made .11 BTC in profit.

                Today saw a pattern that looked like the market was going to drop and went almost all in.

                Placed a stop only on 1/2 the order since I did multiple buys and upped my position over a few hours.

                Then at 4 est the market shot up and I got wrecked on that 1/2.

                Lesson learned, ALWAYS check your stops.

                Also I have been noticing major swings between 4pm and 8pm est. Something to watch.

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                • #23
                  Dont leverage more than 10x the risk is too great.

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                  • #24
                    Originally posted by linto View Post
                    Dont leverage more than 10x the risk is too great.
                    Yes agreed. Anything over 10x is very risky.

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                    • #25
                      So Bitmex has been brutal to me the past 3 days. I have been trying to get an understanding of longer-term trading patterns but the market has been going the opposite way from my bets. I think for now bigger bets on shorter trades is the way to go.

                      Currently working with 5-minute timeframes and working with small swings. This seems to be bringing more success.

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                      • #26
                        Another rough day of trading but I believe the market is unpredictable for all bitmex traders right now.

                        Have a short going from 7241 for about 2 hours now. Came VERY close to my stop loss at $7340 but thankfully did not hit and we are in the green currently.

                        Profit Target is $7080. Need this to recoup some heavy losses over the last 4 days.

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                        • #27
                          Bitmex provides shit coins trading. Right now the traditional market has high volatility. I recommend to use Prime for trade Oil, Gas, Gold, SP500 and other assets.

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                          • #28
                            Havent posted in a whille sice I've been on the sidelines. The market is too unpredictable lately and trading is risky.

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