This is a mirror of the original BitMEX trollbox archive that used to be online here.
BitMEX disabled their archive after the DDOS attack so I have decided to make my mirror publicly available.

Well now, a few days after I made this mirror available to the public, the original archive from BitMEX is online again.
But since it is still limited (neutered to the last few hundred messages) I will keep my FULL mirror alive.

You have access to more than 50 million trollbox posts. This is more than 7 gigabyte of data hosted on a $5 server so please be patient or consider a donation

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[2017-02-28 04:06:07] MikeHunt : 1160 on okc qrt
[2017-02-28 04:06:18] MikeHunt : unless they wanna crash this pre-ETF
[2017-02-28 04:06:21] cookielito : rapidtrades: Good god man
[2017-02-28 04:06:53] MikeHunt : could also be 1060
[2017-02-28 04:06:59] MikeHunt : depends how deep they wanna go
[2017-02-28 04:07:47] cookielito : MikeHunt: Im thinking deep
[2017-02-28 04:08:06] cookielito : MikeHunt: And im typically bullish as hell
[2017-02-28 04:08:14] nourozi : Hi, can anyone tell me why the testnet.bitmex charts are way different to the bitmex.com charts? How can we realistically paper trade and test a strategy if the test vs live are totally different?
[2017-02-28 04:08:40] javierstone : u ever dry hump cordiroy?
[2017-02-28 04:08:58] javierstone : nourozi: ever?
[2017-02-28 04:09:25] arbitrage101 : another chance to buy da dip
[2017-02-28 04:09:26] MikeHunt : anyone tried cryptotrader.com ?
[2017-02-28 04:09:31] BitMEX_John : nourozi: testnet is good for learning how the exchange works, calculations, automated trading integrations etc
[2017-02-28 04:09:40] .. : AFAIK you are just paper trading against other paper traders? Best to just test your strategy with small money here
[2017-02-28 04:09:56] MikeHunt : yeh or blow $4k like i did here
[2017-02-28 04:09:58] MikeHunt : fml
[2017-02-28 04:11:45] cookielito : MikeHunt: your not alone
[2017-02-28 04:11:55] cookielito : MikeHunt: but noverall life is good man
[2017-02-28 04:11:58] nourozi : I see, so developing a backtesting platform and testing the strategy against historical data would produce very similar results to live trading?
[2017-02-28 04:13:02] vgck : nourozi: Historical data is missing the currect events fundamental aspect you get when trading live
[2017-02-28 04:13:12] vgck : Paper would even be better I think
[2017-02-28 04:13:38] MikeHunt : cookielito: was it worth it in the end thou? do you earn now?
[2017-02-28 04:13:49] nourozi : Ok, I think I will just use testnet to make sure the strategy is working correctly and then use minimal amounts of money to test on bitmex live account
[2017-02-28 04:13:51] cookielito : MikeHunt: absolutely
[2017-02-28 04:14:01] MikeHunt : cookielito: how much total did it cost you?
[2017-02-28 04:14:04] cookielito : MikeHunt: you always need to lose big to learn how to trade an asset
[2017-02-28 04:14:11] cookielito : MikeHunt: 4.5 btc
[2017-02-28 04:14:19] MikeHunt : my total loss is 8.6BTC
[2017-02-28 04:14:37] cookielito : MikeHunt: stay away from high leverage
[2017-02-28 04:14:42] ayy_lmao : yes
[2017-02-28 04:14:45] MikeHunt : cookielito: whats the max u do?
[2017-02-28 04:14:45] cookielito : MikeHunt: it turns this into a casino
[2017-02-28 04:14:56] cookielito : MikeHunt: 10 in dire situations
[2017-02-28 04:15:23] mtourig3 : MikeHunt: you get margin called?
[2017-02-28 04:15:37] rapidtrades : if ur not consistently profitable just trade 1 contract
[2017-02-28 04:15:50] BitMEX_John : nourozi: best of luck, if you have any further questions please don't hesitate to contact us
[2017-02-28 04:15:50] MikeHunt : mtourig3: no i didnt let it get that far but i over the course of a few dozen trades i was down
[2017-02-28 04:16:28] vgck : rapidtrades: $1? Why not just testnet at that point?
[2017-02-28 04:16:30] rapidtrades : no point trading size if u don't have an edge, ur just gambling
[2017-02-28 04:16:32] MikeHunt : worst trade was a 4BTC loss
[2017-02-28 04:16:35] nourozi : BitMEX_John: Thanks!
[2017-02-28 04:16:50] rapidtrades : vgck: cos its not the same
[2017-02-28 04:16:51] MikeHunt : looking back i feel like a complete idiot
[2017-02-28 04:18:33] vgck : MikeHunt: Are you doing any better now?
[2017-02-28 04:18:36] ZsaZsaCrypto : Maybe as an idea write down each loss and the mistake made with how much it cost you... Then you'll have a nice investment in a book of trading lessons
[2017-02-28 04:18:39] cookielito : MikeHunt: are you done losing?
[2017-02-28 04:19:50] MikeHunt : cookielito: i hope so
[2017-02-28 04:19:52] -_- : dang price bounced again
[2017-02-28 04:20:10] cookielito : MikeHunt: Know so
[2017-02-28 04:20:26] cookielito : MikeHunt: get that cold blood running
[2017-02-28 04:20:49] cookielito : MikeHunt: and stay humble
[2017-02-28 04:20:55] -_- : guess a few more hours before the dump
[2017-02-28 04:21:13] cookielito : -_-: chinks need to go to lunch first
[2017-02-28 04:21:51] cookielito : no offense to my chinese brethren
[2017-02-28 04:21:52] vgck : -_-: Or maybe dump is over?
[2017-02-28 04:22:21] rapidtrades : PAYDAY
[2017-02-28 04:22:23] MikeHunt : prob see at least 1160-1170 on h17
[2017-02-28 04:22:42] -_- : seems bots have come back
[2017-02-28 04:22:58] -_- : they will slowly buy price back up like good little bots
[2017-02-28 04:23:02] vgck : MikeHunt: Sounds about right to me
[2017-02-28 04:23:13] REKT : Liquidated short on `XBTUSD`: buy 5590 @ 1187.76
[2017-02-28 04:23:21] MikeHunt : considering how quickly i lost here im almost scared to put anymore back in
[2017-02-28 04:23:29] MikeHunt : maybe just stick to stamp or get a cryptotrader bot
[2017-02-28 04:23:32] vgck : Then dont
[2017-02-28 04:23:45] vgck : Leverage isnt really the problem
[2017-02-28 04:23:47] -_- : MikeHunt: you lost money on that dump and dpump
[2017-02-28 04:23:56] vgck : If you have trouble here same will happen at stamp
[2017-02-28 04:24:04] MikeHunt : the pump to 1280 killed my 4BTC i had left
[2017-02-28 04:24:10] MikeHunt : on stamp i made money
[2017-02-28 04:24:13] -_- : oh
[2017-02-28 04:24:19] datboiyuan : MikeHunt: you don't have money here?
[2017-02-28 04:24:26] datboiyuan : you just hang out in the troll box?
[2017-02-28 04:24:26] MikeHunt : about 70$ left
[2017-02-28 04:24:34] datboiyuan : oh I see
[2017-02-28 04:24:34] vgck : Ouch
[2017-02-28 04:24:36] rapidtrades : vgck: leverage is a major problem
[2017-02-28 04:24:47] MikeHunt : yeh i think im too impulsive with lvg
[2017-02-28 04:25:05] -_- : gotta increase leverage to make back the losses
[2017-02-28 04:25:31] abbey : more REKTs
[2017-02-28 04:25:40] Tetsuo : rapidtrades: i sold the other 50% of my cold storage in the last days, almost 120BTC. i have only 30 left for trading. I don´t regret it
[2017-02-28 04:25:41] -_- : well i didnt make back everything i lost yet
[2017-02-28 04:25:48] -_- : if i longed the dip under 1200 i may have
[2017-02-28 04:25:52] rapidtrades : abbey ur butt will be cracked soon!
[2017-02-28 04:26:13] -_- : Tetsuo: you sold and bought eth
[2017-02-28 04:26:18] rapidtrades : Tetsuo: seems like a prudent decision
[2017-02-28 04:26:28] abbey : rapidtrades: havent heard that one before, lol
[2017-02-28 04:26:37] Tetsuo : -_-: nah i cashed out for USD, but 25BTC have been converted to ETH , that´s right
[2017-02-28 04:26:38] MikeHunt : prob buy about $350 worth of eth tomorrow or when it corrects sufficiently
[2017-02-28 04:26:43] arbitrage101 : stick with wining stragegy @MikeHunt
[2017-02-28 04:26:52] arbitrage101 : buy da dip have never fail once
[2017-02-28 04:27:04] -_- : i feel like i will be at computer for next 5 hours waiting for the big move. hope i'm not disappointed
[2017-02-28 04:27:08] arbitrage101 : work every got damn time
[2017-02-28 04:27:35] rapidtrades : wow that selling
[2017-02-28 04:27:40] MikeHunt : arbitrage101: yeh i just gotta watch out for the walls
[2017-02-28 04:28:16] MikeHunt : i longed 1180 and then it collapsed
[2017-02-28 04:28:18] MikeHunt : had to bail
[2017-02-28 04:28:20] MikeHunt : lost a bit there
[2017-02-28 04:28:44] arbitrage101 : what bail
[2017-02-28 04:28:50] MikeHunt : sell off
[2017-02-28 04:28:51] arbitrage101 : it is not 1190
[2017-02-28 04:28:54] arbitrage101 : now
[2017-02-28 04:28:55] vgck : Why not just wait it out? Was gonna come back eventually
[2017-02-28 04:29:18] arbitrage101 : what is your position compare to your size
[2017-02-28 04:29:26] arbitrage101 : capital i mean
[2017-02-28 04:29:50] MikeHunt : arbitrage101: i mean wen it was 1180 about an hour ago
[2017-02-28 04:30:34] arbitrage101 : should learn how to trade before risking much capital
[2017-02-28 04:30:48] MikeHunt : arbitrage101: yep, expensive lesson learnt
[2017-02-28 04:31:01] abbey : lots of traders get rekt by these swings, not me. Happy days!
[2017-02-28 04:31:38] MikeHunt : i think in future ill keep a small amount here just to play with until i learning good and rest at stamp with a bot
[2017-02-28 04:31:41] Tetsuo : I really like this statement: https://pbs.twimg.com/media/C5VU7yxUkAAE9_W.jpg
[2017-02-28 04:32:02] micmix : bitcoin was super easy to trade since mid of 2014. just buy the dips with low leverage
[2017-02-28 04:32:28] arbitrage101 : micmix: 20/20 hindsight
[2017-02-28 04:32:40] arbitrage101 : not so easy to trade now, in my view
[2017-02-28 04:33:04] micmix : no hindsight, all you need is to look at 1w long-term MA
[2017-02-28 04:33:23] MikeHunt : micmix: and now?
[2017-02-28 04:33:27] MikeHunt : the same or?
[2017-02-28 04:33:31] micmix : still the same
[2017-02-28 04:33:40] rapidtrades : bullshit
[2017-02-28 04:34:03] MikeHunt : maybe i can turn $70 into $7k
[2017-02-28 04:34:04] arbitrage101 : trading based on induction logic can be dangerous
[2017-02-28 04:34:27] arbitrage101 : but worked so far this year
[2017-02-28 04:35:11] abbey : yeah, the trend is ur friend
[2017-02-28 04:35:17] micmix : MikeHunt: you can't, you will not survive the dips with higher leverage
[2017-02-28 04:35:45] abbey : micmix: exactly
[2017-02-28 04:35:50] rapidtrades : all trends end with a major reversal/crash
[2017-02-28 04:36:04] rapidtrades : so using low leverage will not save u
[2017-02-28 04:36:11] MikeHunt : micmix: i mean doing it with sensible leverage over time
[2017-02-28 04:36:18] rapidtrades : u will lose profits from multiple trades when it happens
[2017-02-28 04:36:21] micmix : rapidtrades: yep, and you need to scale out of your position on the way up
[2017-02-28 04:36:28] arbitrage101 : there is no sensible leverage
[2017-02-28 04:36:36] vgck : If they price crashes far enough you can still be liquidated on lowest leverage
[2017-02-28 04:36:37] rapidtrades : ok, again hindsight is 20/20
[2017-02-28 04:36:47] MikeHunt : sounds like im fucked either way
[2017-02-28 04:37:00] cryptillian : all in x100 is the only way
[2017-02-28 04:37:00] arbitrage101 : mp ca[ital \\, dont trade
[2017-02-28 04:37:10] vgck : cryptillian: +1
[2017-02-28 04:37:21] arbitrage101 : if you dont have capital, dont trade
[2017-02-28 04:37:30] rapidtrades : WRONG
[2017-02-28 04:37:49] arbitrage101 : do brokering to save some capital
[2017-02-28 04:37:56] abbey : rapidtrades: the trend isnt reversing anywhere
[2017-02-28 04:37:59] cryptillian : NO
[2017-02-28 04:38:12] rapidtrades : abbey: watch ur butt abbey!
[2017-02-28 04:38:36] micmix : arbs are safer than trend following, I can't argue with that
[2017-02-28 04:38:47] arbitrage101 : safer == less profit
[2017-02-28 04:39:10] cryptillian : sad
[2017-02-28 04:39:25] arbitrage101 : no free lunch in anything
[2017-02-28 04:39:36] arbitrage101 : you want to profit a lot, then you need to risk a lot
[2017-02-28 04:39:42] cryptillian : all is rekt
[2017-02-28 04:39:50] cryptillian : life is rekt
[2017-02-28 04:40:12] abbey : rapidtrades: My butt is safe, I know how to use stops. And my stops give me profit, how about ur short, how much negative already?
[2017-02-28 04:40:38] Tetsuo : how do these stops work out in flash crashes
[2017-02-28 04:40:46] cryptillian : 70% i thinkl
[2017-02-28 04:42:38] arbitrage101 : Tetsuo: wont work at all
[2017-02-28 04:45:46] vgck : So looks like the dump is over right? Now we retest ATH, or?
[2017-02-28 04:46:17] abbey : short more the bull market bears, and its all going to be just fine.
[2017-02-28 04:48:45] -_- : still going to dump $130 soon
[2017-02-28 04:49:46] MikeHunt : ~1050
[2017-02-28 04:49:50] MikeHunt : on h17
[2017-02-28 04:59:44] cryptillian : -_-: how?
[2017-02-28 04:59:56] -_- : how what
[2017-02-28 05:00:13] cryptillian : howbau
[2017-02-28 05:01:13] cryptillian : nau?
[2017-02-28 05:02:30] .. : /price
[2017-02-28 05:02:35] trollbot : ``` Bitstamp : 1195.01 (-0.11%) Bitfinex : 1198.20 (0.00%) The Woodchipper : 1186.39 (0.02%) itBit : 1198.74 (0.01%) Kraken : 1194.10 (-0.30%) GDAX : 1197.38 (-0.47%) Last query : 4835 Seconds ago.```
[2017-02-28 05:03:52] MikeHunt : coinbase guy thinks eth could replace btc
[2017-02-28 05:22:53] abbey : some others think it can't
[2017-02-28 05:25:14] noah sark : why is it that when using isolated margin at 100x leverage my position will liquidate after about a 0.5% ($6) run in the opposite direction? I thought it should liquidate after a 1% ($12) run?
[2017-02-28 05:28:17] BitMEX_John : noah sark: your liquidation price allows enough margin that our engine can close your position without incuring a loss
[2017-02-28 05:28:51] BitMEX_John : noah sark: you can read more about liquidation here - https://www.bitmex.com/app/liquidation
[2017-02-28 05:31:41] Rado : that was a cool $100 drop on XBTH17
[2017-02-28 05:36:34] -_- : it was
[2017-02-28 05:36:43] -_- : i longed the top 10 seconds before the dump
[2017-02-28 05:36:52] -_- : lost some money
[2017-02-28 05:37:16] -_- : now i'm waiting for the next dump to long the dip
[2017-02-28 05:37:23] -_- : and make everything back
[2017-02-28 05:37:34] -_- : i knew i should have waited for the dip but gave up waiting 10 seconds for the dump
[2017-02-28 05:38:23] noah sark : does the liquidation price ever change based on the amount of btc in the insurance fund or anything else? I swear a while ago I was getting pretty much exactly what I thought I should be getting. eg. if btc was $1000, with leverage 10x my liquidation would be $900, but now today it would be sitting around $915 for the same order.
[2017-02-28 05:38:58] -_- : eth going back up
[2017-02-28 05:39:06] -_- : once 0.0135 breaks...
[2017-02-28 05:39:14] noah sark : for a long order
[2017-02-28 05:39:24] BitMEX_John : noah sark: liquidation price is uneffected by the size of the insurance fund
[2017-02-28 05:39:36] Tetsuo : -_-: there are no words on how bullish i am on ETH
[2017-02-28 05:39:40] Rado : noah sark: it's based on mark price and what you have in your account
[2017-02-28 05:39:53] Rado : if you have less BTC now the liqudation price will be higher
[2017-02-28 05:40:29] -_- : Tetsuo: any inside info
[2017-02-28 05:41:10] noah sark : I only use isolated margin (set leverage) though, I thought that the liquidation price shouldn't change then based on what you have in your account
[2017-02-28 05:41:11] Tetsuo : -_-: BTC failin? Intel, JPMorgan and Microsoft agreein on usin ETH?
[2017-02-28 05:41:41] -_- : meh not like they actually buy and use ETH.
[2017-02-28 05:41:57] -_- : just bought $25 worth of Bitcoin and the suggested fee was $1.66! That's 6.6%. Who can seriously claim this isn't broken?
[2017-02-28 05:42:03] Tetsuo : they have chosen the crypto of the future
[2017-02-28 05:42:05] Rado : noah sark: what do you think covers your trade?
[2017-02-28 05:42:15] Tetsuo : -_-: it is
[2017-02-28 05:42:19] Rado : it's the BTC you have
[2017-02-28 05:42:27] Rado : if you don't have any you can't place a trade
[2017-02-28 05:42:55] BitMEX_John : noah sark: it also depends on the margin requirements for a contract
[2017-02-28 05:43:16] BitMEX_John : noah sark: some contracts have a higher margin requirement than others
[2017-02-28 05:46:36] BitMEX_John : noah sark: also you are corrected that in an isolated margin scenario your margin requirement is static and won't change depending on your account balance
[2017-02-28 05:47:40] BitMEX_John : correct*
[2017-02-28 05:48:11] MikeHunt : if ETF fails, game over for btc imo
[2017-02-28 05:48:24] MikeHunt : the game of thrones will begin
[2017-02-28 05:48:28] blackwhite : Bitmex, sort by price doesn't work in Active Orders. Kinda tries to sort in parts, but doesn't in general.
[2017-02-28 05:49:33] BitMEX_John : blackwhite: sorry about that, would you mind sending through a screenshot to support@bitmex.com so we can fix?
[2017-02-28 05:50:23] Tetsuo : BitMEX_John: plz make ETHMEX happen soon, we are in a desperate need for a ETH/USD product
[2017-02-28 05:51:20] BitMEX_John : Tetsuo: I'll pass this feedback onto the team :)
[2017-02-28 05:51:21] noah sark : BitMEX_John: Thank you, I think I understand now, I was thinking that the liquidation price should have been the bankruptcy price, but then there
[2017-02-28 05:51:34] noah sark : there wouldn't be anything for the insurance fund
[2017-02-28 05:52:26] BitMEX_John : noah sark: that's correct, when you are liquidated if the position can be closed at a better price than your bankruptcy price the difference is sent to the insurance funds
[2017-02-28 05:55:49] blackwhite : BitMEX_John: sure
[2017-02-28 05:58:52] elmorte : true, it does a lexicographic sort..
[2017-02-28 06:00:59] elmorte : legacy from 3-digit BTC
[2017-02-28 06:01:14] blackwhite : elmorte: for me it isn't lexicographic if you have both buy and sell... something weird
[2017-02-28 06:01:27] elmorte : oh k...yeah, mine are all long
[2017-02-28 06:01:37] elmorte : lemme see
[2017-02-28 06:03:04] elmorte : Mine still is....1xxx, 5xxx, 8xx, 9000, 9xx
[2017-02-28 06:03:05] BitMEX_John : blackwhite: thanks for sending that through
[2017-02-28 06:04:50] -_- : Lol okc
[2017-02-28 06:06:17] REKT : Liquidated short on `XBTUSD`: buy 12 @ 1195.74
[2017-02-28 06:06:17] vgck : I thought we were going to drop another $150?
[2017-02-28 06:06:30] mtourig3 : not dropping now
[2017-02-28 06:06:35] REKT : Liquidated short on `XBTUSD`: buy 100 @ 1197.07
[2017-02-28 06:06:40] elmorte : /price
[2017-02-28 06:06:42] blackwhite : vgck: did we lose 150?
[2017-02-28 06:06:43] trollbot : ``` Bitstamp : 1199.08 (0.34%) Bitfinex : 1201.40 (0.27%) The Woodchipper : 1193.00 (0.56%) itBit : 1198.01 (-0.06%) Kraken : 1194.44 (0.03%) GDAX : 1199.51 (0.18%) Last query : 3848 Seconds ago.```
[2017-02-28 06:07:14] blackwhite : 1232+150=1382. I dont't remember such price
[2017-02-28 06:07:56] vgck : blackwhite: [2017-02-28 04:48:45] -_- : still going to dump $130 soon
[2017-02-28 06:08:06] REKT : Liquidated short on `ETC7D`: buy 15 @ 0.001054
[2017-02-28 06:12:02] Taco : Hey how do i change to quarterly?
[2017-02-28 06:12:28] elmorte : https://www.bitmex.com/app/trade/XBTH17
[2017-02-28 06:12:32] BitMEX_John : Taco: Click on March 31 under the Bitcoin XBT tab
[2017-02-28 06:13:48] Taco : BitMEX_John: and where do i see hte Bitcoin XBT tab? sorry im new here
[2017-02-28 06:14:08] ayy_lmao : above the chart
[2017-02-28 06:14:20] BitMEX_John : Taco: its at the top left hand corner of the page under 'Trade'
[2017-02-28 06:14:26] Taco : I see, thx!
[2017-02-28 06:14:29] BitMEX_John : Taco: and welcome to BitMEX :)
[2017-02-28 06:15:57] Taco : BitMEX_John: Thanks! And how come if i have an open trade, and on the far left hand of scren it says the mark price is 1229.48, but on my open trade it has the mark price at 1195.89?
[2017-02-28 06:16:13] elmorte : Taco: different instruments
[2017-02-28 06:16:20] elmorte : 1195 is swap
[2017-02-28 06:17:52] Taco : BitMEX_John: Ok and lastly why is the risk % changing on its own?
[2017-02-28 06:18:49] BitMEX_John : Taco: the risk %?
[2017-02-28 06:19:04] Taco : Yes like 1x 2x 3x 5x , up to 100x
[2017-02-28 06:19:08] Taco : BitMEX_John: Yes like 1x 2x 3x 5x , up to 100x
[2017-02-28 06:19:17] Taco : BitMEX_John: it's moving on its own
[2017-02-28 06:19:17] BitMEX_John : Taco: that's the leverage
[2017-02-28 06:19:27] Taco : BitMEX_John: Yes how come it changes on its own if i set it to 100x?
[2017-02-28 06:20:04] BitMEX_John : Taco: I'm not sure I understand what you mean by changing on its own, you are trying to open a position?
[2017-02-28 06:20:40] Taco : BitMEX_John: I already have an open position set at 100x. Then i looked at the leverage and it had changed by its self to like 20x, instead of 100x like i had
[2017-02-28 06:20:41] BitMEX_John : Taco: also if you are new to the exchange using 100x leverage might not be the the best way to start off, as you will have a high chance of liquidation
[2017-02-28 06:21:20] BitMEX_John : Taco: you can drag the slider to 100x if you would like, I'm not sure why it changed. Please be careful of getting liquidated though
[2017-02-28 06:21:27] dodic : Taco: Did you switch instruments? You have a separate leverage for each one
[2017-02-28 06:22:01] Taco : dodic: why do you mean by instruments?
[2017-02-28 06:22:36] BitMEX_John : Taco: the swap and futures are different instruments, for instance
[2017-02-28 06:22:36] elmorte : Taco: swap, march USD, march CNY etc
[2017-02-28 06:22:37] dodic : Taco: Like if you click on XBTUSD, then the quarterly XBTH17, you can set diff leverage for each
[2017-02-28 06:23:45] BitMEX_John : Taco: have you read our exchange guide? It is a good place to start if it is your first time here :) https://www.bitmex.com/app/tradingOverview
[2017-02-28 06:25:01] Taco : BitMEX_John: Are there video tutorials also?
[2017-02-28 06:25:08] Taco : dodic: Where does it say XBTUSD?
[2017-02-28 06:25:23] dodic : sorry that's the swap's name
[2017-02-28 06:25:34] elmorte : Taco: are you on mobile?
[2017-02-28 06:25:39] Taco : no
[2017-02-28 06:25:54] elmorte : What position do you have open?
[2017-02-28 06:26:02] Taco : i closed it cuz i lost .25 btc
[2017-02-28 06:26:15] elmorte : Under Closed Positions, see Symbol
[2017-02-28 06:26:28] Taco : ok yes i see that
[2017-02-28 06:26:38] elmorte : XBTUSD is swap, XBTH17 is March USD...
[2017-02-28 06:26:59] BitMEX_John : Taco: if you would like to try some test trades before you risk real capital we have a testnet here - https://testnet.bitmex.com
[2017-02-28 06:27:24] Taco : I guess im confused by what swap and march USD even means
[2017-02-28 06:27:46] elmorte : you sounded like you knew what you were talking about when you asked about the quarterly :)
[2017-02-28 06:28:01] Taco : well my friend told me about this site
[2017-02-28 06:28:07] Taco : and pretty much i was confused because
[2017-02-28 06:28:19] BitMEX_John : Taco: we have a futures guide here - https://www.bitmex.com/app/futuresGuide swaps guide is here - https://www.bitmex.com/app/swapsGuide
[2017-02-28 06:28:21] Taco : I was putting coins on at 100x , and if they dropped 5$ only id lose everything i was risking
[2017-02-28 06:28:24] Taco : when it should be 10$
[2017-02-28 06:28:24] dodic : this is like... a tank of angry sharks
[2017-02-28 06:28:31] dodic : take it slow dude
[2017-02-28 06:28:56] Taco : i'm just playing around and learning the site
[2017-02-28 06:28:56] elmorte : Taco: you get 100x leverage, but it doesn't quite work out to 1% buffer
[2017-02-28 06:29:02] elmorte : more like 0.5%
[2017-02-28 06:29:03] ayy_lmao : whats the default leverage for new accounts?
[2017-02-28 06:29:09] elmorte : cross @ayy_lmao
[2017-02-28 06:29:16] Taco : idk what 1% buffer even means lol
[2017-02-28 06:29:32] elmorte : Taco: your $10 is 1% of $1000
[2017-02-28 06:29:48] elmorte : Which you assumed was your margin buffer before losing it all
[2017-02-28 06:30:18] Taco : if someone here is very familiar with teh site, ill tip u 20$ to just answer any of my questions on like discord or skype or somethingg lol
[2017-02-28 06:30:30] elmorte : but the margin (buffer) is smaller than that
[2017-02-28 06:30:40] ayy_lmao : Taco: u dont need to
[2017-02-28 06:30:42] ayy_lmao : someone will answer anyways
[2017-02-28 06:30:45] ayy_lmao : we are used to it
[2017-02-28 06:30:50] elmorte : +1
[2017-02-28 06:30:51] Taco : half the terms being used to help answer my questions
[2017-02-28 06:30:53] Taco : i dont know what they mean
[2017-02-28 06:30:56] elmorte : But for $40, I'd consider it
[2017-02-28 06:31:01] Taco : lmfao
[2017-02-28 06:31:01] dodic : haha
[2017-02-28 06:31:07] elmorte : :)
[2017-02-28 06:31:38] ayy_lmao : https://testnet.bitmex.com/
[2017-02-28 06:31:56] BitMEX_John : Taco: I would highly recommend reading though the exchange guide I linked earlier and practicing on testnet
[2017-02-28 06:32:00] Taco : here's why im confused, if you risk 10$ on 100x, you're technically risking 10,000 correct? well if that's the case, when coins go down 10$ u should lose all of your risk, but when i would put coins on 100x , its less than that, which doenst make sense
[2017-02-28 06:32:26] Taco : or 1000$
[2017-02-28 06:32:27] Taco : sorry
[2017-02-28 06:32:32] elmorte : noah asked the same question like half an hour before you
[2017-02-28 06:32:41] ayy_lmao : thats because of something called maintenance margin
[2017-02-28 06:32:43] elmorte : scroll up or look at the archive
[2017-02-28 06:32:44] Taco : haha i just joined chat for first time
[2017-02-28 06:32:57] BitMEX_John : Taco: you are liquidated at an earlier price because the exchange needs a buffer between the liquidation price and bankruptcy price
[2017-02-28 06:33:05] ayy_lmao : if they liquidate you at exact -100% they might not be able to close it
[2017-02-28 06:33:10] BitMEX_John : Taco: this is to ensure that we can close the position without taking a loss
[2017-02-28 06:33:32] BitMEX_John : Taco: you can read more about liquidation here https://www.bitmex.com/app/liquidation
[2017-02-28 06:33:35] Taco : BitMEX_John: ok that makes sense
[2017-02-28 06:35:54] Taco : I have another question
[2017-02-28 06:36:06] Taco : let's say you short 100x, and coins drop like 300$ and u just make a massively large amount of money
[2017-02-28 06:36:16] Taco : what happens if there isnt that much money for the site to pay out?
[2017-02-28 06:36:29] Taco : like what if there isnt that much $ being longed or w/e u call it
[2017-02-28 06:36:40] vgck : You will get Auto De-Leveraged
[2017-02-28 06:36:44] BitMEX_John : Taco: you can only make as much money as other traders can lose - that's why we have ADL - https://www.bitmex.com/app/autoDeleveraging
[2017-02-28 06:37:26] Taco : So is this why the leverage % changes by itself?
[2017-02-28 06:37:38] MusicDJ : http://www.etf.com/sections/etf-strategist-corner/bitcoin-etf-fintech-marriage-ready-happen
[2017-02-28 06:38:28] BitMEX_John : Taco: no, you will always be able to select the level of leverage that suits you, but it may increase your risk of being ADL'd
[2017-02-28 06:39:48] Taco : Is there a way for me to see the total amount of $ on either side of the spectrum?
[2017-02-28 06:40:58] BitMEX_John : Taco: all our systems measure value in bitcoin, you can see the open value of a contract on the bottom left hand side of the trading interface
[2017-02-28 06:45:02] rapidtrades : MusicDJ: SCAM
[2017-02-28 06:45:04] rapidtrades : get away with ur scam
[2017-02-28 06:45:20] ayy_lmao : lol
[2017-02-28 06:45:29] Taco : can someone explain the difference between swap and march 31st, like youre explaining it to someone clueless
[2017-02-28 06:45:51] Taco : i read the links but still dont know half of the terms used
[2017-02-28 06:45:54] ayy_lmao : bitmex is a derivatives exchange
[2017-02-28 06:46:00] ayy_lmao : meaning we trade fake bitcoins
[2017-02-28 06:46:19] ayy_lmao : swap tries to mimic a spot exchange
[2017-02-28 06:46:21] rapidtrades : IT'S FAKE
[2017-02-28 06:46:23] rapidtrades : FAKE NEWS
[2017-02-28 06:46:26] ayy_lmao : like bitstamp or bitfinex
[2017-02-28 06:46:39] wurstgelee : what a splendid morning for btfd
[2017-02-28 06:46:42] ayy_lmao : swap tracks an index which gets its prices from bitstamp and okc USD
[2017-02-28 06:46:52] ayy_lmao : meaning it sways less than mar 31
[2017-02-28 06:47:02] rapidtrades : wurstgelee: how did u not get stopped out
[2017-02-28 06:47:11] ayy_lmao : mar 31 is free to do as it pleases
[2017-02-28 06:47:17] ayy_lmao : so the moves are very drastic
[2017-02-28 06:47:30] ayy_lmao : its moves very close with okc quarterly
[2017-02-28 06:47:45] wurstgelee : rapidtrades: i closed 3/4 well in profit before going to bed, got stoppped on the remaining 25%
[2017-02-28 06:47:55] ayy_lmao : swap charges funding to keep prices in line with index
[2017-02-28 06:47:57] rapidtrades : u lucky pos sausage
[2017-02-28 06:48:09] wurstgelee : rapidtrades: u assume i have all in positions?
[2017-02-28 06:48:23] rapidtrades : i assume ur an idiot
[2017-02-28 06:48:44] wurstgelee : your assumptions is wrong, i am sorry
[2017-02-28 06:48:49] wurstgelee : *-s
[2017-02-28 06:48:50] ayy_lmao : funding is based on whether or not price on bitmex is higher or lower than the index
[2017-02-28 06:48:59] rapidtrades : we'll see
[2017-02-28 06:49:11] ayy_lmao : if its higher than index, longs will need to pay a fee
[2017-02-28 06:49:15] ayy_lmao : its discourages buying
[2017-02-28 06:49:15] wurstgelee : yeah, you are saying this since 2015
[2017-02-28 06:49:29] ayy_lmao : if its lower, short pay a fee, it discourages selling
[2017-02-28 06:49:34] ayy_lmao : the goal is to keep it close to index
[2017-02-28 06:49:42] Taco : ok i see, so which has the lowest fees
[2017-02-28 06:49:44] Taco : swap right/
[2017-02-28 06:49:48] rapidtrades : wurstgelee: yeah ur a perma-bull in a bull market, ocs ur making $
[2017-02-28 06:49:58] ayy_lmao : its relative
[2017-02-28 06:50:08] wurstgelee : rapidtrades: i only started being permabull once the market started doing that
[2017-02-28 06:50:25] wurstgelee : i play alts in bear times because i suck at shorting
[2017-02-28 06:50:27] wurstgelee : ;)
[2017-02-28 06:50:46] BitMEX_John : Taco: depends on your situation but futures have no funding fee
[2017-02-28 06:51:04] BitMEX_John : Taco: sometimes the funding fee can be a rebate though depending on your position
[2017-02-28 06:52:16] Taco : ok so let me ask you this, lets say i wait for a moment when i think coins are drasticaly going to drop or rise, and i put like 3-5 coins on 100x in the direction i believe its going to swing
[2017-02-28 06:52:40] Taco : if my prediction is right and coins drop say 100$ , will i make 100x the 5 coins i have , or is the auto leverage going to change the outcome almost for sure
[2017-02-28 06:52:53] Taco : 100x 5 coins at 100$ per coin
[2017-02-28 06:53:02] ayy_lmao : you will most likely get ADL'd on full 100x leverage
[2017-02-28 06:53:19] ayy_lmao : there is a risk iimit too
[2017-02-28 06:53:20] Taco : I just want to yolo and if im right make like 50k :p
[2017-02-28 06:53:28] ayy_lmao : you cant 100x over a certain amount
[2017-02-28 06:53:38] ayy_lmao : its to prevent large liquidations
[2017-02-28 06:53:44] BitMEX_John : Taco: the 100x doesn't mean "100x profit" it means 100x leverage as in your margin is 100th of the value of your position
[2017-02-28 06:54:31] Taco : yeah i understand that
[2017-02-28 06:54:46] BitMEX_John : Taco: there is a calculator tool that shows you margin requirements, profit and loss and liquidation price with given parameters
[2017-02-28 06:55:03] BitMEX_John : Taco: you can access the calculator by clicking the icon on the left hand side next to "Place Order"
[2017-02-28 06:55:16] longbydefault : taco: no one's stopping you from doing that but i suggest a more patient approach
[2017-02-28 06:56:03] Taco : Yeah i think a patient approch is smart at times
[2017-02-28 06:56:15] Taco : but i also think that there are times when bitcoin has a 90% of swinging a certain direction
[2017-02-28 06:56:31] rapidtrades : u mean up amirite?
[2017-02-28 06:56:50] Taco : or down
[2017-02-28 06:56:59] rapidtrades : but more up right?
[2017-02-28 06:57:06] Taco : to the moon
[2017-02-28 06:57:14] BitMEX_John : Taco: you can try trading on testnet to get a feel of things before you trade with real capital
[2017-02-28 06:57:22] rapidtrades : to the moon
[2017-02-28 06:57:25] Taco : Yeah i already lost like .3
[2017-02-28 06:57:37] Taco : didnt know there was a test server
[2017-02-28 06:57:42] Taco : refund plx
[2017-02-28 06:57:44] Taco : ;)
[2017-02-28 06:58:55] LongShort : how do you get to the testnet?
[2017-02-28 06:59:20] Taco : https://testnet.bitmex.com/
[2017-02-28 06:59:32] BitMEX_John : cheers @Taco
[2017-02-28 06:59:32] LongShort : thanks
[2017-02-28 06:59:45] Taco : yeah i help out a lot of people around here
[2017-02-28 06:59:51] BitMEX_John : Taco: hahaha
[2017-02-28 06:59:56] ayy_lmao : lol
[2017-02-28 07:00:25] dodic : LongShort: That'll be $20
[2017-02-28 07:01:13] dodic : Taco: Few more of those and you can make all your money back
[2017-02-28 07:01:25] Taco : :p
[2017-02-28 07:02:55] Taco : i dont understand why anyone would put it on 100x when 50x is better it seems
[2017-02-28 07:03:23] Taco : in order to get 300k usd quantity , it requires either 4.5 coins on 100x, or 5.4 on 50x
[2017-02-28 07:03:52] Taco : and if coins go up 100$ you make the same profit either way
[2017-02-28 07:03:57] Taco : if youre longing
[2017-02-28 07:04:05] jordanbitfort : wat
[2017-02-28 07:04:18] Taco : use that calculator
[2017-02-28 07:04:39] Taco : put quantity at 300k , long, and have exit price 100$ more -- not change the leverage between 50x and 100x
[2017-02-28 07:04:58] Taco : and look at the margin, and profit
[2017-02-28 07:05:18] Taco : now change*
[2017-02-28 07:05:21] BitMEX_John : Taco: the amount of contracts in your position is what reflects your exposure, leverage has nothing to do with it
[2017-02-28 07:05:51] BitMEX_John : 300K contracts is 300K USD of exposure, doesn't matter if you are on 100x, 50x or cross
[2017-02-28 07:06:30] BitMEX_John : the important thing about leverage is that it effects your liquidation price and also dictates your maximum amount of contracts given the amount of balance you have
[2017-02-28 07:06:31] Taco : Idk why its so confusing for me :S
[2017-02-28 07:06:55] ayy_lmao : look
[2017-02-28 07:07:06] ayy_lmao : say i want to trade 100 btc and i have 1 btc
[2017-02-28 07:07:10] ayy_lmao : I use 100x leverage
[2017-02-28 07:07:17] ayy_lmao : now price rises $100
[2017-02-28 07:07:30] ayy_lmao : 100 btc X $100 = $10,000
[2017-02-28 07:07:36] ayy_lmao : i make 10,000
[2017-02-28 07:07:46] ayy_lmao : assuming i longed
[2017-02-28 07:08:06] Taco : Yeah i get that, that's how i thought it was
[2017-02-28 07:08:10] ayy_lmao : it is
[2017-02-28 07:08:22] Taco : and the opposite way, would be if it dropped 10$
[2017-02-28 07:08:25] Taco : you lose your 1k
[2017-02-28 07:08:27] Taco : or 1 coin rather
[2017-02-28 07:08:43] ayy_lmao : yes
[2017-02-28 07:08:57] ayy_lmao : but MM margin will stop you out before full $10
[2017-02-28 07:08:58] Taco : but its weird cause if u put 1 coin in right now, on 100x leverage
[2017-02-28 07:09:12] Taco : it says its like 6$ less and ur cleaned
[2017-02-28 07:09:18] ayy_lmao : yes
[2017-02-28 07:09:19] Taco : what is MM margin?
[2017-02-28 07:09:29] Taco : but 6$ x 100 isnt ur 1 coin
[2017-02-28 07:09:32] Taco : its 600$
[2017-02-28 07:09:37] ayy_lmao : the amount of collateral you need in order to keep or maintain the trade open
[2017-02-28 07:09:52] Taco : but why is it not 12$
[2017-02-28 07:09:58] Taco : when 12$ x10 is 1200$ aka 1 btc ~
[2017-02-28 07:09:59] BitMEX_John : Taco: maintenance margin
[2017-02-28 07:10:20] Taco : ok and maintenance margin is what one more time
[2017-02-28 07:10:23] Farzad : gm fellow trolls
[2017-02-28 07:10:26] Taco : with no other terms that i wouldnt know
[2017-02-28 07:10:38] BitMEX_John : Taco: as we said earlier, you aren't liquidated at your bankruptcy price because then we can't close the position without taking a loss
[2017-02-28 07:11:01] Taco : I'm confused on that
[2017-02-28 07:11:07] ayy_lmao : bitmex requires other trades to clean or close your liquidation
[2017-02-28 07:11:08] Taco : on why that is
[2017-02-28 07:11:10] ayy_lmao : traders
[2017-02-28 07:11:18] ayy_lmao : if nobody cleans up your liquidation
[2017-02-28 07:11:20] ayy_lmao : bitmex takes a loss
[2017-02-28 07:11:24] ayy_lmao : because they loaned you the money
[2017-02-28 07:11:38] BitMEX_John : ayy_lmao: that's not quite how it works :)
[2017-02-28 07:11:38] Taco : yes and now what im saying about earlier is
[2017-02-28 07:11:47] Taco : 100x is pointless to do
[2017-02-28 07:11:48] Taco : when 50x
[2017-02-28 07:11:56] BitMEX_John : no one loans anyone anything at BitMEX
[2017-02-28 07:12:00] Taco : well, idk what im talkinga bout
[2017-02-28 07:12:19] ayy_lmao : they "loaned" fake "bitcoins"
[2017-02-28 07:12:20] BitMEX_John : Taco: the difference between 100x and 50x is the margin requirement
[2017-02-28 07:13:06] ayy_lmao : Taco: in order to make that $10k on 50x, you now need price to go up $200
[2017-02-28 07:13:08] BitMEX_John : opening a 50x position of the same amount of contracts requires more account balance than opening at 100x
[2017-02-28 07:13:39] BitMEX_John : Taco: you can see the margin requirements for the swap contracts here - https://www.bitmex.com/app/contract/XBTUSD
[2017-02-28 07:14:03] BitMEX_John : Taco: each contract has a different margin requirement and different maximum leverage
[2017-02-28 07:14:35] Taco : depending on what?
[2017-02-28 07:15:08] Farzad : /wall
[2017-02-28 07:15:10] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 5046 Ƀ (2.79%) | 3762 Ƀ (21.04%) Last query: 14313 Seconds ago.```
[2017-02-28 07:15:29] Farzad : /price
[2017-02-28 07:15:33] trollbot : ``` Bitstamp : 1192.82 (-0.52%) Bitfinex : 1194.70 (-0.56%) The Woodchipper : 1189.47 (-0.30%) itBit : 1181.33 (-1.39%) Kraken : 1190.57 (-0.32%) GDAX : 1194.25 (-0.44%) Last query : 4130 Seconds ago.```
[2017-02-28 07:16:06] BitMEX_John : Taco: we set the maximum leverage for each contract
[2017-02-28 07:16:12] BitMEX_John : it is mostly related to liquidity
[2017-02-28 07:16:34] BitMEX_John : if there is more liquidity it is easier to offer more leverage because we don't have to ADL as often
[2017-02-28 07:18:39] wurstgelee : when was the last ADL event on swaps?
[2017-02-28 07:19:45] BitMEX_John : wurstgelee: I will ask the team and get back to you
[2017-02-28 07:21:47] wurstgelee : not that important, just curious
[2017-02-28 07:21:52] wurstgelee : :)
[2017-02-28 07:22:38] BitMEX_John : wurstgelee: I beleive we had some ADL occur during the earlier big wicks
[2017-02-28 07:22:59] BitMEX_John : wurstgelee: that's usually when it happens
[2017-02-28 07:23:14] aethlios : 0.0014 minimum fee to withdraw, scaling debate will become hot soon.
[2017-02-28 07:23:36] wurstgelee : that would make sense.
[2017-02-28 07:24:22] Farzad : /wall
[2017-02-28 07:24:26] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 4938 Ƀ (0.59%) | 3698 Ƀ (18.98%) Last query: 555 Seconds ago.```
[2017-02-28 07:25:11] Taco : hey
[2017-02-28 07:25:15] Taco : john
[2017-02-28 07:25:16] wurstgelee : Farzad: thanks!!!
[2017-02-28 07:25:20] wurstgelee : :D
[2017-02-28 07:25:31] Farzad : wurstgelee: its even better now :D
[2017-02-28 07:25:32] Farzad : /wall
[2017-02-28 07:25:35] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 5003 Ƀ (0.00%) | 3753 Ƀ (0.00%) SLQ: ```
[2017-02-28 07:25:36] wurstgelee : yeah
[2017-02-28 07:25:38] Taco : if you risk 1 coin (1200) , and coins go down 6$ and my posiiton is closed
[2017-02-28 07:25:39] wurstgelee : it is
[2017-02-28 07:25:48] Farzad : oh ! where is it ? lol
[2017-02-28 07:25:51] Taco : 100x on long and it goes down 6$
[2017-02-28 07:26:01] Taco : and my position is closed, do i get back .5 coin?
[2017-02-28 07:26:22] Farzad : /wall
[2017-02-28 07:26:24] trollbot : ``` ±$30 Bid|Ask liquidity of 4 exchanges: 4998 Ƀ (-0.10%) | 3703 Ƀ (-1.33%) SLQ: 49 seconds```
[2017-02-28 07:26:40] Farzad : wurstgelee: since last query is human readable now
[2017-02-28 07:26:48] Farzad : SLQ
[2017-02-28 07:26:55] BitMEX_John : Taco: if your position is liquidated you will lose all the margin allocated to that position
[2017-02-28 07:27:07] wurstgelee : yep, really better now
[2017-02-28 07:27:27] BitMEX_John : Taco: the difference between the price you are closed at and your bankruptcy price is paid into the insurance fund
[2017-02-28 07:28:39] Farzad : seems we are stock on 1200. lol
[2017-02-28 07:28:59] Taco : john that doesnt make sense to me
[2017-02-28 07:29:09] elmorte : wow, you can sell on LBC for higher price than XBC here...
[2017-02-28 07:29:16] Taco : how you can risk 1200 (1 coin) on 100x long, coins drop 6% , and you lose 1200$
[2017-02-28 07:29:22] vgck : BitMEX_John: Why not just return it to the user?
[2017-02-28 07:29:29] Farzad : elmorte: what is LBC ?
[2017-02-28 07:29:32] Taco : 6$*