Are You Sitting on Your Bitcoin Like an Egg. It is Time to Trade on Bitmex?
A few months back one of my Crypto Currency trading buddies came to me and asked me how many Bitcoin I had. I told him and he said you can easily double up in the next few weeks. So I listened to his idea and I decided to follow his lead. I set up a Bitmex account and began trading within a few days.
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What is So Cool About Bitmex?
The Bitmex trading platform allows you to leverage your Bitcoin 1X-100X. I found that leveraging at 50X-100X was a little too risky for me. I learned the hard way by gaining then losing two Bitcoin multiple times while learning how to trade on the Bitmex platform.
Things that I learned to do while trading on Bitmex.
- Always buy and sell using Limits and closing orders. I never ever sell to Market.
- I never trade at 50X or 100X. Twice while trading at 50X Bitcoin took a big drop and I got wiped out.
- Set up multiple limit buy orders below your longs to protect your buy in. Same if you are shorting the market.
- The trend is your friend. When trading Bitcoin the biggest action is when the Chinese are trading.
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If You are serious about Bitcoin trading on Bitmex I have a few open spots in my Secret Bitcoin trading community on Facebook. You must have some trading experience to be part of the group. If you do not, feel free to ask me questions. I don't want my fellow traders bothered with new trader questions.
