I love Okcoin futures. It's the best one I've found. The iOS app makes trading so simple ( I use it exclusively )
20:1 is crazy but I have a good method/strategy
Care to explain?
The fee sounds high like on bitfinex. I found that its hard on bitfinex because you have to fight the fee first until you get into the positives. So you always have a disadvantage. I hoped its better on other exchanges with lower fees.
How do you handle stop losses? Avoiding flash trading and finding real wrong decisions is a not so easy part i think.
I think this thread should be moved to trading discussion.
I dontt use stop losses, they are good at fishing them out and triggering them. With 20:1 futures your fee is already paid when you purchase the contract so that's it, (margin positions are different). Shitty thing is with 20:1 your liquidation price is a $10 swing. With that being said I always build my positions slow at diff price points, continuously adding.
So your risk strategy is "betting" a small amount only each time? Which percent of your total amount of available money you set?
What does the fee is paid already mean? The 0.2% is paid one time only for the leveraged amount of money? Looks like i have to change okcoin then to CFD right?
I build my positions slowly to prevent a margin call. I never go all in with 2 orders, that is what I have learned in the past from mistakes. I usually fill orders 10-15% at a time, but there are exceptions such as that failed dump that happeneds this past Wednesday which I knew it wouldn't go much lower, so I grabbed 400 contracts at 213 and had another order of 200 @ 204 (I knew there was no way it would go lower judging by the volume and no panic) so the risk was worth it.
I just checked log history and it's about 396 santoshi to open up a contract of 3
I usually have about 4-5 orders filled before the market swings and I take profit. I'm ok with a 30-40% profit
Coinbase pump was epic for me, rode it from 223 up to 294
Did you know about coinbase pump before? I have read that its important to check the news, mainly coming from china. Only thing is that i dont find a reliable place, where i could find the news that could change prices, early enough.
are you referring to the exchanges like bitstamp?
In general yes, though its a special case because its possible here to earn money when trading against a rising bitcoin price or against a falling bitcoin price. On top you can bet more money than you have. That means higher risk but possible higher return too. I would not suggest trading it before you really learned without risking money since its risky.
That would need a very very small flash could wipe out your investment instantly. Though it sounds interesting. Was this a typo or do you know an exchange where to trade that leverage?
