Bitmex trading : Introduction
Today I am going to explain to you, How Bitmex trading platform is working. And how you can follow Bitmex signals from Professionals traders in order to support your research before you opening any position on the exchange.
Before you keep going and learn how to use Bitmex platform you should know:
Margin trading is a risky business for beginners. That’s why we first suggest you use Bitmex trading simulator before you start to trade on real Bitcoin / Money. And that’s why we HIGHLY recommend you to follow our Crypto signals before you start to trade by yourself.
What the Advantages of Bitmex Exchange?
Bitmex is giving you a great opportunity for leverage trading. What does it mean’s?
You can leverage your position. For example; You can use 100 USD like it’s 1000 USD.
With Leverage trading, you will be able to Maximize your Bitmex signals profits.
1 Contract = 1USD.
How to calculate potential Profits?
Calculating your profits before entering a Bitmex signal aka trade setup it’s a MUST. why? You want to know exactly How much you risk and how much you will be able to earn. At the top of the page you will see an Icon of a calculator for your trades: Click on it.
A new window will pop and you will be able to calculate how much you can earn, and when your position will be liquidated.
What is it Liquidation ?
The most important thing for you to know: Is that when your entire Signal position at Bitmex will be liquidated — You will lose your entire position. The more that your Leverage will be higher: The more chance for you to get liquidated. It’s recommended to not use more than 5 to 10X Leverage. for example, I enter for a long position when the Bitcoin was at 3627 USD (Mark price) , If Bitcoin will get to 2731 USD I will lose my entire Position amount.
Short & Long Poistion @ Bitmex
Why Bitmex is the most powerful crypto platform? Because even when the Bitcoin price go’s down you will be able to short it and take your profits. Unlike Binance & Bittrex that you can only profit from long positions. for example, I enter for a long position when the Bitcoin was at 3627 USD, If Bitcoin will get to 2731 USD I will lose my entire Position amount.
Frequently Asked Questions About Bitmex
How to short Bitcoin? — Red button = Short, Green = Long.
How to open account @ Bitmex? — Via Bitmex.com.
What are bitmex fees – It depends how you close your position. Market price / Other.
How to close Position? – Click on ‘Market’ for urgent close or enter you close price
Is Bitmex Legit? – We use Bitmex for trading and so far we had no problems.
Bitmex Can work in USA? – No. Bitmex doesn’t support USA Customers
If you belong to one of those countries please DO NOT use Bitmex exchange for signals/trading otherwise you are risking your entire account termination with your funds without an option to appeal.