Q&A thread bellow.
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Q: Only trading BTC or also ALTs?
A: Mostly BTC, but will trade ALTs when there are opportunities
A: Mostly BTC, but will trade ALTs when there are opportunities
Q: So you are going to do it on BitMEX?
A: Yes
A: Yes
Q: What leverage are you using?
A: Cross
A: Cross
Q: What kind of stop are you using?
A: Stop market. Never stop limit. Your limit might not get filled in a fast moving market. Stop is to make sure you preserve your capital. You can put the stop even before your limit order is filled.
A: Stop market. Never stop limit. Your limit might not get filled in a fast moving market. Stop is to make sure you preserve your capital. You can put the stop even before your limit order is filled.
Q: What’s your time zone?
A: CEST (GMT+2). I travel a lot and times will change in the future.
A: CEST (GMT+2). I travel a lot and times will change in the future.
Q: Why not long June since longs are funding swap?
A: I did consider that, but will stick with XBTUSD for now since funding is not that bad yet. Futures sometimes over shoot on fast movements and you get your stop taken out way lower.
A: I did consider that, but will stick with XBTUSD for now since funding is not that bad yet. Futures sometimes over shoot on fast movements and you get your stop taken out way lower.
Q: What experience do you guys have in trading?
A: Only 20 years
A: Only 20 years
Q: What’s the difference between Cross and x1 leverage?
A: Cross will use all available funds in your account when it comes to calculating the liquidation price. You can lose everything on the trade. If you set it to 100x, 10x etc. it will only use some of the margin.
A: Cross will use all available funds in your account when it comes to calculating the liquidation price. You can lose everything on the trade. If you set it to 100x, 10x etc. it will only use some of the margin.
Q: Do you use mark or last price for stops?
A: Last price for trigger
A: Last price for trigger
Q: How can you purchase this many contracts on cross leverage as there is only 0.11btc in your account?
A: That is what leverage allows you to do. Read more about it here: bitmex.com/app/isolatedMa…
A: That is what leverage allows you to do. Read more about it here: bitmex.com/app/isolatedMa…
Q: When you say put stop loss for a short do you buy the stop market “short”?
A: Yes, the stop market is to buy the same amount of contracts that was sold/shorted
A: Yes, the stop market is to buy the same amount of contracts that was sold/shorted
Q: When you close a position do you buy long at closing price if you initially shorts or just hit close on the right hand side at the price you want?
A: Yes, put an order to buy long. You can hit close position at market if the market is moving fast as well.
A: Yes, put an order to buy long. You can hit close position at market if the market is moving fast as well.
Q: Can send funds from one BitMEX acct to another?
A: Yes you can. If you link the accounts you don't even have to pay fees. You can only link accounts if your main account has more than 5 BTC. Otherwise you can move the funds and wait for 12:00 UTC when transfers are done.
A: Yes you can. If you link the accounts you don't even have to pay fees. You can only link accounts if your main account has more than 5 BTC. Otherwise you can move the funds and wait for 12:00 UTC when transfers are done.
Q: Do you do anything to reduce the fees?
A: I try to enter and exit with a limit order. Only if the stop is hit the taker fee is paid. Also I try to enter a trade on setups that will return a good profit where the fees will not matter. Doesn't always work.
A: I try to enter and exit with a limit order. Only if the stop is hit the taker fee is paid. Also I try to enter a trade on setups that will return a good profit where the fees will not matter. Doesn't always work.
Q: What do the numbers on the candlesticks represent?
A: It's a technical indicator for buyers/sellers exhaustion. It indicates where a reversal might occur.
A: It's a technical indicator for buyers/sellers exhaustion. It indicates where a reversal might occur.
Q: What's the difference in reduce only limit order then?
A: The difference is if my stop triggers before the limit buy happens the reduce only order will be canceled. That will make sure you don't have your stop taken out and then go long with the limit buy.
A: The difference is if my stop triggers before the limit buy happens the reduce only order will be canceled. That will make sure you don't have your stop taken out and then go long with the limit buy.
Q: How can I learn this system of trading?
A: There is no system. If someone tells you that trading is easy and they have a system don't believe them. There are some rules I follow: steemit.com/cryptocurrency…
A: There is no system. If someone tells you that trading is easy and they have a system don't believe them. There are some rules I follow: steemit.com/cryptocurrency…
Q: Do you calculate the stop based on your entry or do you look at the chart? If you calculate it, how do you do it?
A: I look at the chart as well as my pain threshold. Usually I would change the stop after it moves in my direction.
A: I look at the chart as well as my pain threshold. Usually I would change the stop after it moves in my direction.
Q: What TA Indicators you use?
A: MACD, RSI, Bollinger Bands, TD Indicator, Candle Sticks patterns, Ichimoku Could. The most important for me are horizontal lines of support/resistance that I add based on previous highs/lows or areas where price stayed for extended period of time
A: MACD, RSI, Bollinger Bands, TD Indicator, Candle Sticks patterns, Ichimoku Could. The most important for me are horizontal lines of support/resistance that I add based on previous highs/lows or areas where price stayed for extended period of time
Q: What’s your thought on using high leverage and using liquidations as your stop orders?
A: I don't like liquidations as they are way more expensive than a stop. High leverage only gives you the illusion of making more money because you are risking less. Stops manage the risk.
A: I don't like liquidations as they are way more expensive than a stop. High leverage only gives you the illusion of making more money because you are risking less. Stops manage the risk.
Q: What time frames do you look for confluence in determining a short trend change with a target of ($200-$400) and on which time frames do you look for confluence for the perfect entry?
A: 15 min and 1 hour for short term trades. 4 hour and daily for medium term trades.
A: 15 min and 1 hour for short term trades. 4 hour and daily for medium term trades.
Q: Why use stop market instead if stop limit? Don’t you pay fees at this way?
A: I do pay fees, but my stop not executing is way more costly. The market can moves a few hundred dollars in minutes and I don't want to get caught. I do try to enter or exit with limit when possible.
A: I do pay fees, but my stop not executing is way more costly. The market can moves a few hundred dollars in minutes and I don't want to get caught. I do try to enter or exit with limit when possible.
Q:Which charts do you use to trade futures?
A: I don't use the contracts for ALTs to chart them. I use the spot price charts. Only for Bitcoin I have a chart for XBTUSD as well as a few exchanges for BTCUSD.
A: I don't use the contracts for ALTs to chart them. I use the spot price charts. Only for Bitcoin I have a chart for XBTUSD as well as a few exchanges for BTCUSD.
A: 2/2 - I also use a combination chart from 6 exchanges on Trading View: (POLONIEX:BTCUSDT+BITTREX:BTCUSDT+COINBASE:BTCUSD+BINANCE:BTCUSDT+BITSTAMP:BTCUSD+BITFINEX:BTCUSD)/6
Q: When is a reversal of a trend (up or down) confirmed which makes a safe entry?
A: One very common use is when it breaks all moving averages and then comes back to retest them. The short term MA need to be bellow/above the long term depending on if we are bullish or bearish.
A: One very common use is when it breaks all moving averages and then comes back to retest them. The short term MA need to be bellow/above the long term depending on if we are bullish or bearish.
Q: What kind of trader you are? EW trader or candle trader or else?
A: The one thing I hate the most in TA is Elliott Waves.Totally made up after the fact and so flexible that you can explain any count. I like horizontal support and resistance as well as some other TA indicators.
A: The one thing I hate the most in TA is Elliott Waves.Totally made up after the fact and so flexible that you can explain any count. I like horizontal support and resistance as well as some other TA indicators.
Q: Why do you sometimes use a tight stop loss?
A: The reason I am using a tight stop here is because the trade is opposite the trend. If it was with the trend the stop can be wider to give the trade a chance before the trend resumes.
A: The reason I am using a tight stop here is because the trade is opposite the trend. If it was with the trend the stop can be wider to give the trade a chance before the trend resumes.
Q: Do you set trigger prices to mark, last or index, I keep getting stopped out
A: For Swap (XBTUSD) I always set stop at "last" price. Mark can be $50 away from last price. For futures mark price is better as liquidity is bad and you can have a move that will take you out.
A: For Swap (XBTUSD) I always set stop at "last" price. Mark can be $50 away from last price. For futures mark price is better as liquidity is bad and you can have a move that will take you out.
Q: How do u calculate how much u bet on each trade?
A: 5% margin based on the balance of the account.
A: 5% margin based on the balance of the account.
Q: What settings are you using for Ichimoku cloud? 
