A trader's diary - my Bitmex journey

Gyrsur

legendary

Activity: 2856

Merit: 1520

Bitcoin Legal Tender Countries: 2 of 206

Quote from: N0sferatu on June 12, 2019, 01:38:53 AM

Quote from: ginobitcoiner on June 01, 2019, 09:10:14 AM

I am very impressed with your expertise in trading in the current market conditions that you have been able to choose excellent tokens for trading, you have proven that daily trading is still the best choice, provided we choose the right token and exchanger in trading.

Thank you very much for your kind words.

UPDATE 12/06/2019

I'm currently recovering from a disease (nothing to worry about though). Therefore i was not in the right state for trading or creating new daily summeries here.
I am going to resume this journal as soon as possible.

Thanks for understanding and being with me on my journey!

get well soon!

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Quote from: ginobitcoiner on June 01, 2019, 09:10:14 AM

I am very impressed with your expertise in trading in the current market conditions that you have been able to choose excellent tokens for trading, you have proven that daily trading is still the best choice, provided we choose the right token and exchanger in trading.

Thank you very much for your kind words.

UPDATE 12/06/2019

I'm currently recovering from a disease (nothing to worry about though). Therefore i was not in the right state for trading or creating new daily summeries here.
I am going to resume this journal as soon as possible.

Thanks for understanding and being with me on my journey!

ginobitcoiner

full member

Activity: 700

Merit: 101

BBOD Trading Platform

I am very impressed with your expertise in trading in the current market conditions that you have been able to choose excellent tokens for trading, you have proven that daily trading is still the best choice, provided we choose the right token and exchanger in trading.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Daily summary #23-25

Current balances updated in the OP.

Sentiment:

- bullish
- awaiting another test of the 9200$ area
- price swinging between 8400$ to 8700$

Open position:

2nd account:

Filled orders:

Active orders:

None.

Made a small profit of 0.001 BTC over the last days.

I was able to sell a small portion of my position during that sudden rise to 9200$.
Didn't sell much as i expected the price to grow even stronger.

That unexpected dip suddenly after triggered some buying orders, so now my position size is at a very reasonable level.

Quote

I'm pretty sure we're not going to see a price below 8500$ anytime soon again.

Well, failed hard on this one. Roll Eyes

But that's trading!

Today i played around with some trend lines just for fun; and to visualize my next expectations:

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Quote from: N0sferatu on May 30, 2019, 10:33:24 AM

I'm absolutely bullish as it looks like we're completing the next flag soon again

Well, that escalated quickly! Roll Eyes

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

No daily summary for today as I'm taking a break.

Will include today's report in my post tomorrow.

I'm absolutely bullish as it looks like we're completing the next flag soon again:

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Daily summary #22

Current balances updated in the OP.

Sentiment:

- bullish after consolidation phase
- price stagnating

Open position:

2nd account:

None.

Filled orders:

Active orders:

Made a profit of 0.009 BTC today.

Quote

The funding rates are still pretty high, so i'm currently rethinking the maintenance of my 2 positions on my 2nd account.
Lost 0.001 BTC today due to that.

As a consequence, i closed both positions with profit.
Need to create a new strategy for the 2nd account as long as funding rates are still that high:

This, and the long downward wicks (see chart) after the last pump lead to the conclusion that we're consolidating again.
So, the next upward movement probably is just some days away!

The position in my primary account is building up in size again.
I'm pretty sure we're not going to see a price below 8500$ anytime soon again.

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Daily summary #21

Current balances updated in the OP.

Sentiment:

- bullish
- price swinging between 8700$ to 8900$

Open position:

2nd account:

Filled orders:

Active orders:

Made a small profit of 0.0006 BTC today.

Nothing much has happened over the past 24 hours.
Price range is very tight again; overall Bitcoin still behaves bullish. I can see no signs of a reversal or correction.

The funding rates are still pretty high, so i'm currently rethinking the maintenance of my 2 positions on my 2nd account.
Lost 0.001 BTC today due to that.

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Daily summary #20

Current balances updated in the OP.

Sentiment:

- overall bullish
- price swinging between 8600$ to 8900$

Open position:

2nd account:

Filled orders:

Active orders:

Made a nice profit of 0.026 BTC today!

Finally Bitcoin made the expected upward movement!
It happened right before i went to bed - was still able to take some quick profits and re-arrange my open orders.

Still keeping the position of my 2nd acc, as i'm expecting another pump beyond the 9000$ mark soon.

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Daily summary #19

Current balances updated in the OP.

Sentiment:

Quote from: N0sferatu on May 25, 2019, 01:46:46 AM

- overall bullish
- price swinging between 7950$ to 8150$
- still waiting for greater movement

Open position:

2nd account:

Filled orders:

Nothing has changed.

Active orders:

Nothing has changed.

Made no profit or loss today (except for funding fees).

Not much to say today as the market hasn't moved yet.
Funding fees are slowly eating up my balance, i might consider to do something about it! Wink

As some of you probably already know, there is a strong correlation between the Bitcoin price and its search volume on Google:

past 7 days past 12 months

Those graphs are confirming both, the current consolidation phase as well as the strong upward movement in price since March.
Actually i didn't expect the connection to still be so substantial, as the current run seems to be initiated by institutional investors unlike 2017!

Diversification applies to every aspect of trading, also analysis!

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

I am getting really excited about the next days!

My personal sentiment is pretty bullish for some days now - and seeing multiple different TA's confirming this usually is a positive sign.

In my chart, you can see that we're completing the triangle anytime around 29th May. See that top of the upper band? It's near the 9000$ mark, which will probably be the next target price.

Volumes are also constantly going up (over a longer timeframe), which is a bullish sign as well!

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Daily summary #18

Current balances updated in the OP.
Profit & ROI updated.
Added 2nd Bitmex account!

Sentiment:

- overall bullish
- price swinging between 7950$ to 8150$
- still waiting for greater movement

Open position:

2nd account:

Filled orders:

Active orders:

Made a profit of 0.0018 BTC today.

Bitcoin is still struggling to rise to new yearly highs.
Though i see no signs of reversal, so my sentiment remains bullish!

I took some profits. Didn't change the leverage and am not going to increase my position size at the moment.

Today is the day! I added my 2nd Bitmex account, which was funded with 0.03 BTC by my primary account on May 10th!

Quote from: N0sferatu on May 10, 2019, 08:44:31 AM

You may notice my withdrawal - i funded my 2nd Bitmex account for another "strategy". Going to add that one in the next days!

This account is part of my risk management.
Probably the most important aspect for any trader, broker etc.

For me, it is the ultimate response to the question: Take Profit or keep the position open? (Bitmex)

Most of the time i am going to keep my positions open until my unrealized PNL gets extraordinarily high.
My leverage will usally be lower compared to my primary account.
I also opened a ETH/USD position for diversification!

Until now, i was already able to double the balance!

Quote from: Gyrsur on May 24, 2019, 09:33:10 AM

Quote from: N0sferatu on May 08, 2019, 01:40:29 AM

Current ROI > 1200%

TOP!! have a nice weekend.

Thank you! Updated! Roll Eyes

Quote from: N0sferatu on May 08, 2019, 01:40:29 AM

Current ROI > 1400%

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Gyrsur

legendary

Activity: 2856

Merit: 1520

Bitcoin Legal Tender Countries: 2 of 206

Quote from: N0sferatu on May 08, 2019, 01:40:29 AM

Profit since the opening of this thread: 0.0592 BTC

Profit since the start of my journey: approx. 0.1668 BTC

Current ROI > 1200%

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
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TOP!! have a nice weekend.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Daily summary #17

Current balance updated in the OP.

Sentiment:

- expecting any major movement in the next 24h
- overall bullish

Open position:

Filled orders:

Nothing has changed.

Active orders:

Nothing has changed.

I didn't make any profit or loss today.

Quote

My position is going to play out with the next bigger green candle, so i'm not worried.

So, here we are again - back at the 8000$ support zone.
The market is behaving as expected now, so i'm just waiting to sell my position at the best possible price.

I don't want to go to deep into technical analysis (as it's only a small aspect of my trading strategy), but i'd like to share my idea on this one:

As you can see, we're currently moving around the upper zone of the Bollinger band, which is usally interpreted as a signal to sell.
Actually i believe it works differently.
The Bollinger Bands are lagging just like any indicator, so it just shows what has already happened. So, the band is formed by the trend of the price, not vice versa!

Also, the band is squeezed currently, so i'm expecting any major price movement to get it inflated again!

Happy trading & thanks for following!

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Daily summary #16

Current balance updated in the OP.

Sentiment:

- sideways to bearish
- price is building up stronger support zones

Open position:

Filled orders:

Active orders:

Made a loss of about 0.0006 BTC over the past days for maintaining my position.

The price is still going down slowly.
My buying order got filled this morning - i decided to clear the remaining ones and instead decrease my leverage again, in case any major downwards movement happens.

This seems more safe to me in the current market. My position is going to play out with the next bigger green candle, so i'm not worried.

Quote from: Gyrsur on May 21, 2019, 04:58:40 AM

keep up the good work! Wink

Quote from: Indamuck on May 21, 2019, 07:26:50 AM

Congratulations on your current profits and I'll admit I'm kinda scared to trade on Bitmex. I've seen too many people lose it all with high leveraged positions. I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times.

Quote from: dark08 on May 21, 2019, 08:25:46 AM

You made a good trade OP from the start until now I see some losses but not huge one, I'm always follow your day trade by the way I'm no longer trading/visiting Bitmex since the last time I got liquidated but when I see your day trading I'm inspire to back in margin trading but its risky to make a 10x leverage Im going to cross trade.

Thank you all! Cheesy

Well Bitmex is not that scary if you start with a very small leverage like x2 or x3. BTC would need to drop 33% (or 50% @ x2) to get your position liquidated. It's definitely worth a try!

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

N0sferatu

member

Activity: 386

Merit: 78

[insert coin to continue]

Daily summary #14 & 15

Current balance updated in the OP.

Sentiment:

- sideways to bullish

Open position:

Filled orders:

Nothing has changed.

Active orders:

Nothing has changed.

Made almost no profit or loss the last 2 days.

Sorry for being absent a whole day! I was a little busy lately.

As the market is still moving in a very tight range, I don't feel comfortable to trade or close my position.
I prefer to wait for the next move.

Tomorrow there will be a more detailed summary again.

Thanks for joining me in this journey @ all!

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: Indamuck on May 21, 2019, 07:26:50 AM

I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times.

Is the manipulation you're referring to their in-house trading/market making? It's pretty odd for sure, but I honestly believe that most exchanges trade against their users. It's unethical in my opinion because of the advantage they enjoy over the rest, and that in every possible way, but since there isn't much oversight from regulators, exchanges have all the freedom they need to continue doing this.

As for Bitmex having to deal with slippage, that applies to every single exchange in crypto. Bitmex's books tied to the main trading pairs enjoy the highest level of liquidity in the space.

dark08

full member

Activity: 798

Merit: 104

You made a good trade OP from the start until now I see some losses but not huge one, I'm always follow your day trade by the way I'm no longer trading/visiting Bitmex since the last time I got liquidated but when I see your day trading I'm inspire to back in margin trading but its risky to make a 10x leverage Im going to cross trade.

Indamuck

hero member

Activity: 1120

Merit: 554

Congratulations on your current profits and I'll admit I'm kinda scared to trade on Bitmex. I've seen too many people lose it all with high leveraged positions. I have also head of Bitmex manipulating order books and have a lot of book slippage during volatile times.

eternalgloom

legendary

Activity: 1792

Merit: 1283

Really interesting to follow and looks like you're doing pretty good actually!
Just don't end up like that one guy who lost his life savings on Bitmex and posted about it on 4chan, that thread was a complete trainwreck Tongue

Link if anyone's interested:
http://boards.4channel.org/biz/thread/13581019/this-cant-be-happening

Topic: A trader's diary - my Bitmex journey (Read 1139 times)