Bitmex Calculators and why/how to use them.
Most people using Bitmex have absolutely no idea what they are doing and getting into, far too many comments and observations I have seen tell me that the average Bitmex user is likely to get Rekt as denoted in this article/quiz. Most don’t use any form of risk/money management and likely have no idea how to even calculate possible wins/losses on trades ahead of time. This really bothers me as I think it is extremely important that people just don’t gamble their money away using powerful platforms like Bitmex. If you wish to prevent from becoming Crypto Road Kill then take this article to heart and dive in and do the work to educate yourself of the risks involved with trading your Bitcoin and other Cryptos on Bitmex. Calculators will help you know the risk/reward ahead of time and by doing that you are in planner mode, this mode is where all great traders are born!
As you can see by the image above the side by side view of the different calculators 2 of which give Fiat Calcs and 1 of which is the most extensive, also including calcs for ALT coins. These calculators whether you choose to use the built-in one for Bitmex, the Simple 1Broker one or the more extensive bitmexcalculator.com one. All of them will help you calculate and plan your trade risk/reward ahead of time. Good planning is a sign of a winner, you can’t beat a man with a plan! Below are 3 Calculators for you to use.
Next are the links below you can further educate yourself on how to calculate your profits from FIAT to BTC and even ALT coins. These Bitmex centric tools & resources will serve to give you a greater understanding of how to control your risk and help you stay away from becoming one of the REKT. Read each of the links below several times until you feel you have a good understanding of these tools/resources.
- https://www.bitmex.com/app/pnlGuide – Profit/Loss Guides a great in-depth resource from Bitmex directly.
- https://medium.com/@BambouClub/the-bitmex-calculator-d40969eac0c8 – A well-written article on medium explaining btc vs fiat calcs with bitmex.
- https://cryptopotato.com/bitmex-advanced-trading-features-tutorial/ – Another great resource to understand orders in Bitmex from the CryptoPotato.
- https://usethebitcoin.com/how-to-calculate-the-bitmex-profit/ – Basic How to Guide on calculating Bitmex profits.
- https://www.tradingview.com/chart/BTCUSD/91HU6l0i-Bitmex-funding-bubbles-Trading-opportunities/ – Visualization also in the image below to help understand Bitmex funding rates.