The Bitmex STAMPEDE is on!
With the current crypto bear market, most traders/hodlers of Bitcoin and Sh*t coins alike are tired of waiting for the next wave up and have started the stampede to Bitmex the past several months. This stamped is a gold rush of quick profits that most were attracted to crypto in the first place. Bitmex recording new records of 8 Billion in daily volumes for July. Bitmex offers 100x leverage, a super stable and easy to use platform for these gamified speculators. talented and un-talented traders here alike can make and lose fortunes in a blink of an eye. It is the NEW crypto leveraged trading GOLD RUSH. We are seeing an explosion in popular Bitmex telegram trading groups as the hodl crowd wants to make up for the bear market losses they have suffered and keep that money train going/growing while they wait for the next bitcoin boom to start. In this article, we will explore the plus and minuses of trading with the Bitmex platform.
Bitmex Leverage – QUICK and the DEAD.
Nothing is more fun or dangerous in trading to use the leverage Bitmex offers, which tops out at 100 to 1. Most newbie traders or anybody with a gambling addiction will likely abuse this feature very quickly. I have seen traders make a few hundred % overnight and lose it all the next day as if this was normal. So instead I would like to call it the “QUICKLY DEAD” to simplify the above.
TIP – The real key to using leverage is to have a money management formula to take advantage of the compounding along with positive expectancy in the methods/techniques you use to trade.
Playing this edge can get you REKT fast. People who allow themselves to set their leverage based on desires/feelings/emotions are as bad as a drunk farmer trying to get into a gunfight with a hired killer in the old west, we all know how it is going to end…
BitREKT – 80% Get ReKt!
We did a study with poll results on smart options in our Rekticator 2000 article which came back showing most people fell into the “Sir ReKt A lot” = the worst and most likely to blow their Bitmex accounts in the future. This is not a sobering statistic but one that is pretty much the norm in trading. Newbie traders or those with impulse control issues are like moths to the flame, ironically enough the leverage Bitmex offers attracts these degenerate gamblers even more so to exacerbate the statistics.
TIP – Join a signal group and watch pro traders trade. If you don’t have the emotional control and trading experience, then learn it from somebody else. There are plenty of good trading groups with great results trading Bitmex, you can both follow their signals and get an education at the same time!
Project – “BitMaker”
What if you could follow along with a small account and see the results of using advanced money management formulas and the signals of professional trading groups done LIVE on cam to give you a window into what is possible. This is where the project “Bitmaker” comes into play. We plan on a new video series to show the inner workings of signal groups and the ways to use Bitmex along with them to grow your money. The project will start with a small balance on Bitcoin and you can watch it grow from the results of using these signal groups along with a simple money management formulas to grow the balance over time, and you get to watch it live! This should give you insight into what is possible with Bitmex trading.
Bitmex – Short Sellers wet dream.
The real beauty of Bitmex is the ability to hedge your Bitcoin as well as use leverage, which if used wisely mind you can be very effective in growing your account balances and maybe even making it to the BIG TIME *honk *honk! Short Selling is not offered by many exchanges as they are rinky-dink and don’t have the facilities or knowledge to control the risk factors as Bitmex seems to. An example of this was the recent disruption at Okex where a trader bet more then he had and left Okex on the hook after the margin call with a huge position, and even later wanted to steal profitable traders funds, oops I mean clawback profitable traders profits on their platform from mistakes they made in risk calculations with the leverage they offer.
Bitmex is super popular and growing in popularity as each day goes by. Arthur Hayes has created a super stable, very secure and extremely easy to use bitcoin futures exchange that is second to none, and even Fintech quality, which is to say he created an institutional level trading product which alone deserves credit, since most of the exchanges and security you will find are absolute and utter dog sh*t in comparison. I would make it akin to buying a cheap Chinese made iPhone, vs the real thing and it is very apropos since most of the crap exchanges of horrible quality are from that part of Asia. The one negative of Bitmex is their trading vs customers and the complaints of likely manipulation from the Bitmex gang with their conflict of interest ridden market makers who work for them directly, or indirectly, whichever it is does not matter. Any user who can count to 10 on their fingers might have noticed the odd peculiarities that in a regulated market would have ended with prison terms for the owners/operators of the site. Outside of that Bitmex is a great exchange even with its rough edges and if used wisely can be an effective way to make and grow your bitcoins…