Thanks for all the replies!
I didn't want to share the name of the exchange here, becasue I didn't want other people to try and exploit this issue, if this is indeed an issue.
Trying to figure out if it is some kind of error or simply my lack of understanding of high leverage margin trading. Based on my understanding those numbers do not add up, but perhaps someone more experienced in the field could share their point of view.
Topic: Is it an error or margin trading luck? (Read 121 times)
It's definitely not an error unless your exchange is a scam or something. Margin trading is for advanced traders that could make you more profits or more losses. You could take advantage of margin trading to have more of that. You have the ability to open positions that typically requires more capital in it.
You're luckier than other traders out there that have shorted the market, it's definitely considered a win for you.
Check this out.
https://www.binance.vision/economics/what-is-margin-trading
You're luckier than other traders out there that have shorted the market, it's definitely considered a win for you.
Check this out.
https://www.binance.vision/economics/what-is-margin-trading
It's good if you share which exchange you are using it. That kind of thing happend with me because its very confusing. For margin trading I am using poloniex exchange and their it's show how much coin you need to buy for complete the margin trading. So I bought it how much they suggested. Usually they add fees so you need buy little bit extra ammout for closing margin trading.
OK, guys, so this might be silly question, but I am no expert on margin trading, so it was either pure luck or some kind of error.
Mid-april I have transferred 0.55 BTC to one of the exchanges offering margin trading. I think I exchanged it to USDT (although I am not sure) and I bought some BTC at x3 margin at 7200 USD (I think I have maxed it out, not sure about the specific number).
Then around 7500 USD I changed my margin to x4.2 and bought a bit more (about 0.4 BTC). I was planning to sell at about 8590 USD and so I did and repaid all outstanding funds.
Then when the price jumped to 8640 USD I was tempted to short, so I used some of those funds to short but changed margin to x7. The price started to go up instead and it jumped to 8850 USD. I have added more funds to my margin account, shorted even more and promised myslef that if I get out of this alive I will never gamble like that. The price luckily came down to 8613 USD where I repaid my short by paying back 2.7 BTC total.
I transferred out all my funds to my spot account and realised I have 1.9 BTC on it. That's the point where I figured out I simply do not understand margin trading, was purely lucky and I am never touching that shit again. But trying to figure out what happened here. Does the math add up? Or is it some kind of mistake?
Mid-april I have transferred 0.55 BTC to one of the exchanges offering margin trading. I think I exchanged it to USDT (although I am not sure) and I bought some BTC at x3 margin at 7200 USD (I think I have maxed it out, not sure about the specific number).
Then around 7500 USD I changed my margin to x4.2 and bought a bit more (about 0.4 BTC). I was planning to sell at about 8590 USD and so I did and repaid all outstanding funds.
Then when the price jumped to 8640 USD I was tempted to short, so I used some of those funds to short but changed margin to x7. The price started to go up instead and it jumped to 8850 USD. I have added more funds to my margin account, shorted even more and promised myslef that if I get out of this alive I will never gamble like that. The price luckily came down to 8613 USD where I repaid my short by paying back 2.7 BTC total.
I transferred out all my funds to my spot account and realised I have 1.9 BTC on it. That's the point where I figured out I simply do not understand margin trading, was purely lucky and I am never touching that shit again. But trying to figure out what happened here. Does the math add up? Or is it some kind of mistake?
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