I Went Short Bitcoin And It Didn't Work Out
Today I walk you through my decision making process when planning a short trade on BTC via BitMex. Learn how blockchain technology works or how to make and save money with cryptos at https://www.cryptoversity.com/courses/
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BitMex trading platform:
https://www.bitmex.com
Coinigy charting tool:
https://www.coinigy.com/?r=16171fe8
My cryptocurrency trading course:
https://www.cryptoversity.com/courses/the-master-cryptocurrency-trader/
It was a great setup and it shows the key discipline you need to trade short term on both the long and short side. Stop losses are a key risk management took given the volatility in Bitcoin prices.
I hate getting liquidated by a $ or 2 - that's one that really gets to me :D
But putting some of my DCA budget into leverage trading has actually worked out great for me mostly, just relying on the volatility
Just keeping the liquidation price sufficiently high on a 10x leverage....
Huge gains on what is essential small 'gambles' from my DCA budget...
Playing one out now as it goes... :)
Thanks for the video! I enjoyed you walking through the whole trade, step by step. I have not attempted to short the almighty, but welcome all to try.
I'm a dollar cost average man, myself...
Short trading is very tricky in this market as it is so volatile and a lot of times the market is driven by rumors.....or manipulation it seems if the news is correct.
You bring up the trailing stops. These are probably the way to play this market so, as you say, you lock in profits. Good luck on your next trade.
My personal experiences are "DON'T SHORT CRYPTOS!" I'm not a very well versed trader and my experiences in shorting cryptos has not been good. I'll leave that to the pros.
Going short is also not the philosophy the S.N.
When he had the idea of Bitcoin..!!
I know many people go short to multiply their bitcoin.
But that's the system of the banking world that's why I wish people luck the long go Bitcoin is more than a day-end course
@marketingmonk great information but according to me more time we hold Bitcoin more profit we get, but short term is only to multiply Bitcoins
I couldn't see on that Bitmex screen how you actually short, still don't know how to do that.
You just click the sell button :)
Right :-) True genius :-)
I heard the word 'spread' in your video, i am thinking options/futures immediately. Selling without having it, that is what i think about when i hear 'going short'. Say just 'selling' then :-)
Anyway, loving your videos Chris, learnt a lot from you
upvote for me please? https://steemit.com/news/@bible.com/6h36cq