OK, it looks exciting, I'm in, I'll try to follow your Bitmex journey. I'm also trading on Bitmex, pretty much due to the same reasons as yours. You say you won't be using any indicators. I myself am using indicators only, but I'll gladly follow your trades and try to find some logic in them.
Now, you say you won't be using stop losses, which considering your maximum leverage (15x) could be very risky if you ask me. You would have to rely on the bullish sentiment not being overrun by the bears for this to work, isn't it?
Anyhow, I wish you a lot of good luck, in addition to your trading skills.
Thank you!
Why am i not using indicators?I have been trying to trade with indicators like the stochastic RSI, bollinger bands and MACD etc.
Those never worked for me - indicators are lagging and are only displaying a trend that has already happended.
Some are useful to get some good entry or exit points, though.
I am determining those solely backed by the in-depth chart of Bitmex.
Why am i not using stop-losses?Using stop-losses for me is like gambling with a martingale strategy but not going for the last rolls (that might eat up your balance).
I am confident in the positions i open, so there is no need for a stop-loss.
If a liquidation happens, it's fine for me - that's part of my personal risk management.
I don't always go for a x15 leverage, currently my position is on x9. It basically displays how confident i am in my current decisions.
Very sure = high leverage, unsure = lower leverage.
And yep, i fully rely on a bullish sentiment in the long run.
With Bitmex you need to becareful how and where you set your stop-losses. Basically you should always give room for your stop losses to fill incase there isn't enough liquidity at a certain stop, basically your stop and your limit stop need to be wide.
Also don't put your stops near any important pivots because you will get crazy slippage and your stop will usually fill right at the top and price will usually pull back afterwards.
The issue with Bitmex is that many people go 50x or 100x there and its the reason why we sometimes get these $100 1 minute candles with over 40-50 Million in USD volume, mostly they are just stop hunts.
Thanks for your input!
You showed me some more reasons why i don't use stop losses at all.
Instead, i am just increasing my long position at lower prices to stay away from liquidation.
But that's trading!
