https://bitdaytrade.com Bitcoin Gold & Commodities margin trading - page 9.

John (John K.)

legendary

Activity: 1288

Merit: 1225

Away on an extended break

Quote from: ?? on ??

Quote from: John (John K.) on June 28, 2012, 11:39:00 AM

Quote from: ?? on ??

So, You canceled my trades and took my gains... Now I can't get back my bitcoin... What do I need to do to get my funds out?

Was about to throw some coins in when I saw this. What is the situation exactly? Huh

Dear Customer,

We regret to inform you that all positions open and closed have been liquidated due to a bug foud in our system. Please note that any profits as well as losses you have substained have been reset. Said bug has been fixed and this situation will not present again in the future. We do apologize for any inconvenience this might cause to you.

Thank you very much

Bitdaytrade Team

And you incurred a profit from your positions, am I correct? Seems shady if you just lost your gains from your positions due to this 'bug'.

John (John K.)

legendary

Activity: 1288

Merit: 1225

Away on an extended break

Quote from: ?? on ??

So, You canceled my trades and took my gains... Now I can't get back my bitcoin... What do I need to do to get my funds out?

Was about to throw some coins in when I saw this. What is the situation exactly? Huh

bitdaytrade

sr. member

Activity: 287

Merit: 250

Quote from: ?? on ??

Quote from: bitdaytrade on June 28, 2012, 11:17:44 AM

Quote from: ?? on ??

Can you guys post any more information on this "bug" that made you undue my position and take away my gains?

will this happen every time I am up?

The bug has been fixed and we ensure you this will not happen again in the future, you have been credited 1 btc to cover your losses. We do apologize for any additional inconvenience this might cause to you.

Gold is now way down... I have no idea why you needed to take away my short position. Please explain.

There was a serious bug in the transaction engine, it's not related to the gold price whatsoever. On a side note your withdrawal has been processed.

bitdaytrade

sr. member

Activity: 287

Merit: 250

Quote from: ?? on ??

Can you guys post any more information on this "bug" that made you undue my position and take away my gains?

will this happen every time I am up?

The bug has been fixed and we ensure you this will not happen again in the future, you have been credited 1 btc to cover your losses. We do apologize for any additional inconvenience this might cause to you.

bitdaytrade

sr. member

Activity: 287

Merit: 250

Quote from: SkRRJyTC on June 26, 2012, 03:34:26 PM

Hmm... very interesting... Im new to this type of trading so please forgive me.

I see that OP says .01 of a contract should cost around $16. I deposited .1 BTC and set leverage option to 50:1. This give me a Tradable Margin of USD 31.82080000

Why cant I buy .01 of a contract?

Also I noticed this

"You get charged or credited a carry interest for any position left open overnight. Long positions are charged the calculated amount. The amount is calculated based on your account exposure."

Could you elaborate on what this means for those of us who are new?

Reported bug should be fixed. Thank you for the head up. You should now be open a 0,01 contract position with 0,1 Bitcoin. If you leave an LONG open position overnight, the 3% carried interested is calculated over the total value of your position in USD and converted to Bitcoin, then charged to your account. If you have a LONG position for 0,01 contract at 1.570,30 it means you are charged 0,47109 for each night you keep the position open.
See calculation (1.570,30*0,01)*0,03) = 0,47109 USD

EDIT : Carried interest charge is not being enforced yet.

flower1024

legendary

Activity: 1428

Merit: 1000

Quote from: ?? on ??

So, You canceled my trades and took my gains... Now I can't get back my bitcoin... What do I need to do to get my funds out?

my withdraw took 1 day to get processed. i guess they are doing it manually.

bitdaytrade

sr. member

Activity: 287

Merit: 250

Quote from: flower1024 on June 27, 2012, 04:06:32 AM

hi,

i like your site and trying now with 0.5btc.

PUTS do work very well, but i cant open a LONG Position.
it shows (very shortly) in the "Your queued positions"-list but never gets to a position.

btw: if i have a short position and open a long one. will the short position stay or is it "eaten by" the long one.

regards
flower

We are looking into the problem right now and yes, you can open opposing positions and hedge your trades. Thank you very much for your feedback.

Cheers

flower1024

legendary

Activity: 1428

Merit: 1000

hi,

i like your site and trying now with 0.5btc.

PUTS do work very well, but i cant open a LONG Position.
it shows (very shortly) in the "Your queued positions"-list but never gets to a position.

btw: if i have a short position and open a long one. will the short position stay or is it "eaten by" the long one.

regards
flower

SkRRJyTC

legendary

Activity: 1008

Merit: 1000

Hmm... very interesting... Im new to this type of trading so please forgive me.

I see that OP says .01 of a contract should cost around $16. I deposited .1 BTC and set leverage option to 50:1. This give me a Tradable Margin of USD 31.82080000

Why cant I buy .01 of a contract?

Also I noticed this

"You get charged or credited a carry interest for any position left open overnight. Long positions are charged the calculated amount. The amount is calculated based on your account exposure."

Could you elaborate on what this means for those of us who are new?

molecular

donator

Activity: 2772

Merit: 1019

Quote from: bitdaytrade on June 25, 2012, 11:10:34 AM

Quote from: molecular on June 25, 2012, 08:10:28 AM

I didn't receive confirmation e-mail after signup (about 3 minutes). Waiting longer...

Check your spam folder, from a quick check it looks like there are no issues with your signup. Please post update here

I have no spam folder. I even went to the webmail interface of the email provider and looked around there and searched. No email from "*bitdaytrade*".

I received your test-email.

Thanks for manually confirming my account.

I have since changed the email address to another one. Nothing received there as of now (didn't expect a mail to be sent, of course).

bitdaytrade

sr. member

Activity: 287

Merit: 250

Quote from: molecular on June 25, 2012, 08:10:28 AM

I didn't receive confirmation e-mail after signup (about 3 minutes). Waiting longer...

Check your spam folder, from a quick check it looks like there are no issues with your signup. Please post update here

molecular

donator

Activity: 2772

Merit: 1019

I didn't receive confirmation e-mail after signup (about 3 minutes). Waiting longer...

bitdaytrade

sr. member

Activity: 287

Merit: 250

Quote from: bitcoinBull on June 21, 2012, 02:16:49 PM

Congratulations on being the first to launch this service, I've been waiting for this day. It seems a little "too good to be true" which, in combination with the bitcoinica fiasco, leaves me skeptical.

I'd like to know where you hedge the gold positions, to have more confidence bitdaytrade isn't a bucket shop (with bitcoinica it was known they hedged at MtGox).

Also, why no MtGox codes for deposits? You claim to sell the BTC on mtgox anyway..

Quote from: bitdaytrade on June 21, 2012, 05:43:56 AM

We have methods in place to watch for those circumstances and take appropriate action, i.e. Buy Bitcoin if price suddenly spikes up and use USD reserves to back up gold trading. We are also planning to add Bitcoin as a traded commodity itself shortly, just like Bitcoinica.

This seems like a disaster waiting to happen. If you buy bitcoin when price suddenly spikes, you'll have losses (bucket shop betting against the customers).

I like that I can stay long in BTC and open a gold position. Decreasing my gold position if btc falls, so that i take losses if its a losing position, is the right way to do it. Good job with that.

But if you're hedging/scaling the gold position then there should be no need to sell the deposited BTC (and again, you can't sell it without betting against the customer).

I deposited a few BTC, but I would've been able to short gold earlier if I didn't have to wait for the confirmations. I missed the big move down.. going to wait for a bounce up now.

Thanks a lot, more commodities, and bitcoin itself will be coming soon! We will eventually integrate the missing mtgox Bitcoin code deposit feature.
We do have a pretty large account at instaforex and we hedge all trades there. Don't worry for now about our methods to protecting from price spikes, they are tested throughly as they are an important part of the CFD trading system itself. Thanks for your smart feedbacks! hope you are satisfied with our platform, and for any problem refer to the support email on the site [email protected]. Thanks again!

bitcoinBull

legendary

Activity: 826

Merit: 1001

rippleFanatic

Congratulations on being the first to launch this service, I've been waiting for this day. It seems a little "too good to be true" which, in combination with the bitcoinica fiasco, leaves me skeptical.

I'd like to know where you hedge the gold positions, to have more confidence bitdaytrade isn't a bucket shop (with bitcoinica it was known they hedged at MtGox).

Also, why no MtGox codes for deposits? You claim to sell the BTC on mtgox anyway..

Quote from: bitdaytrade on June 21, 2012, 05:43:56 AM

We have methods in place to watch for those circumstances and take appropriate action, i.e. Buy Bitcoin if price suddenly spikes up and use USD reserves to back up gold trading. We are also planning to add Bitcoin as a traded commodity itself shortly, just like Bitcoinica.

This seems like a disaster waiting to happen. If you buy bitcoin when price suddenly spikes, you'll have losses (bucket shop betting against the customers).

I like that I can stay long in BTC and open a gold position. Decreasing my gold position if btc falls, so that i take losses if its a losing position, is the right way to do it. Good job with that.

But if you're hedging/scaling the gold position then there should be no need to sell the deposited BTC (and again, you can't sell it without betting against the customer).

I deposited a few BTC, but I would've been able to short gold earlier if I didn't have to wait for the confirmations. I missed the big move down.. going to wait for a bounce up now.

DeaDTerra

donator

Activity: 1064

Merit: 1000

Quote from: bitdaytrade on June 21, 2012, 10:47:07 AM

Thanks a million to DeadTerra for all the support provided!

No problems, I am always up for helping Bitcoin companies off the ground

//DeaDTerra

bitdaytrade

sr. member

Activity: 287

Merit: 250

Thanks a million to DeadTerra for all the support provided!

DeaDTerra

donator

Activity: 1064

Merit: 1000

BitDayTrade IPO announcement has been released

Have a look at https://bitcointalksearch.org/topic/glbse-bitdaytrade-a-fixed-interest-bond-of-3-per-week-88902
//DeaDterra

DeaDTerra

donator

Activity: 1064

Merit: 1000

Please see the message,
https://bitcointalksearch.org/topic/m.979814
Regarding my current position.
//DeaDTerra

bitdaytrade

sr. member

Activity: 287

Merit: 250

Added basic charting functionality https://bitdaytrade.com/charts

bitdaytrade

sr. member

Activity: 287

Merit: 250

Quote from: N12 on June 21, 2012, 05:32:27 AM

I am very interested in the possibility of trading traditional markets via BTC, but here’s my concern:

What if Bitcoin rallies a lot and increases in value by say, ten times in a few weeks? Since you sell the Bitcoins, you are essentially short, if I understand correctly, and would have to purchase them much more expensively if I wanted to withdraw my Bitcoins.

Do you have a way to hedge that? If yes, how?

We have methods in place to watch for those circumstances and take appropriate action, i.e. Buy Bitcoin if price suddenly spikes up and use USD reserves to back up gold trading. We are also planning to add Bitcoin as a traded commodity itself shortly, just like Bitcoinica.

Topic: https://bitdaytrade.com Bitcoin Gold & Commodities margin trading - page 9. (Read 19476 times)