Hi looks interesting..
signed up as "lord". muchas gracias
Topic: Get $1 Risk-free Starting Bonus for Bitcoinica Here - page 6. (Read 20268 times)
You don't sell Bitcoins on Bitcoinica - for that you need to go to an exchange.
Bitcoinica lets you leverage 1:5 in BTCUSD.
I'll give a little example (though I'm a bit new myself), anyone can feel free to correct me:
You deposit 1 BTC when the market is at 5 USD/BTC. This gives you a margin of 5, with a tradable balance of 25. From here you can decide to long or short. If you long it, you 'buy' BTC at X price in hopes it goes up. If you long 3 BTC when it is at 5 USD, and it goes up to 6 USD, you've made 3 USD. If you short it, you sell 3 BTC at 5 USD, and it goes down to 4 USD, you've made 3 USD.
But it isn't so easy. On the right of your screen, you'll see that P/L, Net Balance, and Maintainence.
P/L is your current profit/loss. Green is profit, red is loss. It'll start out as a loss every time (due to the spread).
Your Net Balance is your Margin + P/L. If your P/L is green, your margin will be higher than when you started. If it is red, your margin will be lower.
Your Maintainence is... somehting. Not really sure. BUT what I have read is that if your maintainence ever exceeds your Net Balance, you get a 'margin call'. That means the market has gone too far from where you ordered and even with the 1:5 leverage you don't have enough to maintain your account - so it liquidates it. To prevent liquidations, be sure to set stop-loss orders.
Hope this helps!
edit: to clarify some things: you need to lock in your profits just like you stop-loss orders. These are called 'limit' orders. Also you can choose to simply 'liquidate' your current position, which will lock in whatever the current market is (weather it be a profit or a loss)
Once your positions are cleared, you can choose to withdrawl MtGOX USD CODE or BTC.
Bitcoinica lets you leverage 1:5 in BTCUSD.
I'll give a little example (though I'm a bit new myself), anyone can feel free to correct me:
You deposit 1 BTC when the market is at 5 USD/BTC. This gives you a margin of 5, with a tradable balance of 25. From here you can decide to long or short. If you long it, you 'buy' BTC at X price in hopes it goes up. If you long 3 BTC when it is at 5 USD, and it goes up to 6 USD, you've made 3 USD. If you short it, you sell 3 BTC at 5 USD, and it goes down to 4 USD, you've made 3 USD.
But it isn't so easy. On the right of your screen, you'll see that P/L, Net Balance, and Maintainence.
P/L is your current profit/loss. Green is profit, red is loss. It'll start out as a loss every time (due to the spread).
Your Net Balance is your Margin + P/L. If your P/L is green, your margin will be higher than when you started. If it is red, your margin will be lower.
Your Maintainence is... somehting. Not really sure. BUT what I have read is that if your maintainence ever exceeds your Net Balance, you get a 'margin call'. That means the market has gone too far from where you ordered and even with the 1:5 leverage you don't have enough to maintain your account - so it liquidates it. To prevent liquidations, be sure to set stop-loss orders.
Hope this helps!
edit: to clarify some things: you need to lock in your profits just like you stop-loss orders. These are called 'limit' orders. Also you can choose to simply 'liquidate' your current position, which will lock in whatever the current market is (weather it be a profit or a loss)
Once your positions are cleared, you can choose to withdrawl MtGOX USD CODE or BTC.
I've got to post a real dumb question...
Let's suppose I have transfered 1BTC to Bitcoinica. How do I sell that BTC at current market price?!
I tried that and got open positions instead of selling the btc's!
Hi. I signed up as 'uncaer9'.
Thank you.
Thank you.
Credited. Thank you!
Hi. I signed up as 'uncaer9'.
Thank you.
Thank you.
Thanks!
I signed up today as 'therealepg'. Thank you!
Credited. Thank you!
I signed up today as 'therealepg'. Thank you!
Yay!!!
Thanks!!!!
I'll be wandering a lot, for some while...
But I'll learn how it works!
Thanks!!!!
I'll be wandering a lot, for some while...
But I'll learn how it works!
Hi!!!
Is this still open?
If so, I registered with user Jay_Pal
Thanks!!
Is this still open?
If so, I registered with user Jay_Pal
Thanks!!
Yes! I have credited you.
Some customers had very nice short positions just now. Profiting!
Hi!!!
Is this still open?
If so, I registered with user Jay_Pal
Thanks!!
Is this still open?
If so, I registered with user Jay_Pal
Thanks!!
mrbit
Thanks in advance!
Thanks in advance!
Hi,
I have credited ALL of you above.
Thank you very much for your support!
thanks for the credit =] I have credited ALL of you above.
Thank you very much for your support!
I have credited all the accounts above.
Thank you for your support!
Thank you for your support!
Thank you. Now we need to learn how to use the site. Are there any instructions somewhere? The FAQ only describes what you can do, not how you can do it.
It's fairly easy, once you get the hang of it. Decide what price you're willing to pay for "Bitcoin stock". Click the "Place order" button in the upper right corner of the Trade page.
Currency pair stays as-is.
Order type (for now) should be Limit
Buy
In the amount box, choose how much you want to buy. I suggest starting out with something small; between 0.02 and 0.10BTC.
In the price box, pick how much you're willing to pay per whole BTC. If you want to wait for BTC to be $4 before you buy, for example, enter 4 in the box.
Click place order.
Now you wait for the Bitcoin to drop to your specified price. Waiting's the hard part!
If and when Bitcoins ever drop to the price you entered, your order will be placed. Now click the "Place order" button again, but this time choose "Sell" instead of buy. Enter a higher price in the box than what you paid (for example, 4.10) and click place order again.
There are more variations on what you can do, with limit, stop, trailing stop and market orders, but it's all fairly simple.
And how can i short sell?
afaik, place a sell order at X price, then place a limit order to buy at X-n price.
i think i've got that right
I have credited all the accounts above.
Thank you for your support!
Thank you for your support!
Thank you. Now we need to learn how to use the site. Are there any instructions somewhere? The FAQ only describes what you can do, not how you can do it.
It's fairly easy, once you get the hang of it. Decide what price you're willing to pay for "Bitcoin stock". Click the "Place order" button in the upper right corner of the Trade page.
Currency pair stays as-is.
Order type (for now) should be Limit
Buy
In the amount box, choose how much you want to buy. I suggest starting out with something small; between 0.02 and 0.10BTC.
In the price box, pick how much you're willing to pay per whole BTC. If you want to wait for BTC to be $4 before you buy, for example, enter 4 in the box.
Click place order.
Now you wait for the Bitcoin to drop to your specified price. Waiting's the hard part!
If and when Bitcoins ever drop to the price you entered, your order will be placed. Now click the "Place order" button again, but this time choose "Sell" instead of buy. Enter a higher price in the box than what you paid (for example, 4.10) and click place order again.
There are more variations on what you can do, with limit, stop, trailing stop and market orders, but it's all fairly simple.
And how can i short sell?
Perhaps you should change the system to email people when a withdrawal gets processed? I waited overnight, expecting an email, only to find out that I should've simply checked the recent withdrawals at the bottom of the page. Bit confusing, that.
money is good but u will lose it instantly: proof: https://bitcointalksearch.org/topic/bitcoinica-get-my-money-out-thread-45471
I signed up as
bitcoindaytrader
Please credit, thanks!
bitcoindaytrader
Please credit, thanks!
There is, once you actually buy stuff. 
The Positions and Orders links will show you your current value as well as previous transactions.
The Positions and Orders links will show you your current value as well as previous transactions.
I see... I need to start trading then. Thanks again!
It's fairly easy, once you get the hang of it. Decide what price you're willing to pay for "Bitcoin stock". Click the "Place order" button in the upper right corner of the Trade page.
Thank you! I think I expected it to be more similar to other exchanges, with tables containing the buy and sell orders, and the last transactions, etc. So I was a bit lost.
There is, once you actually buy stuff.
The Positions and Orders links will show you your current value as well as previous transactions.
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