Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 350. (Read 723558 times)

Thank you all, I don't think I have any reason to not trust Bitfinex.

Quote from: unclescrooge on September 03, 2013, 06:49:38 AM

I don't know how experienced you are, Tamis. I would suggest to trade with 10% of your Bitcoins only, for a start. And maybe with a token amount only until you figure out how all those functions work. They are all well documented, but you still has to wrap your head around them. And then there are details, like for example "what lending gets automatically closed when I sell?" which you simply have to try out. With 0.01 BTC for example.
So, no, I don't see BitFinex as the risk here, we ourselves are the risk for our Bitcoins ;-)

Seeing how bullish the market is I don't think I really risk anything at the time being ! I went to Bitfinex to get stop orders I couldn't use on Bitstamp.
I entered at 86$ stop is a 123ish.

Nice! :-)

Question about stop-loss in general:
Lets say I have a large volume margin position, and enter a stop loss. When exactly is it executed? Like, for example, stop loss at 123, at a volume of 1000 BTC? There would not be enough volume at 123. Would the system start at 126 BTC/USD exchange rate, so it closed the position when reaching 123? Or would it start closing at 123, which might not finish selling until the exchange rate dropped to 120?

Ente

Ente

The stop loss would be triggered at 123 USD, more specifically if the bid is at 123 for a sell stop, if the ask is at 123 for a buy stop.
So yes, you can have some slippage if the order is large enough, because it's impossible to calculate the depth beforehand.

I hope that helps

Have a good sunday

Giancarlo
Bitfinex Team

one thing is not clear to me:

I have a stop loss at, let's say 120.00

when Bitstamp highest bid is at, let's say 120.20.....A Bitfinex order at 120.00 is above that, and so my stop will be triggered

now the question; If I route my stop to Bitfinex, in the case above my stop get's triggered? Or only once there is a highest Bitstamp bid at 120.00?

up

Ente

legendary

Activity: 2126

Merit: 1001

Quote from: Ente on September 03, 2013, 05:14:12 AM

..one more question about training stop orders:

In case of a trailing stop, will the sell price be lowered when the exchange rate slowly goes down? Or will the trailing stop price be monotonous, like always rising or at least staying the same?

How fast, how often, when, is the price updated? With every trade, or the average of x minutes, or the high of y minutes?

And now the tough question:
With a trailing stop order, I am guaranteed to eventually catch a dib down. And, once I use a trailing stop, and it is executed, I can guarantee the price will rebound. If I don't use any "security net", the same dib will prove to be ste beginning of a ten-year downtrend. What do? Cheesy

Ente

Hello Ente,

So, no the price of a trailing stop sell order will never go down. It is updated with each tick: if the tick is higher than the previous, the trailing stop price is updated higher. If the tick is lower, the trailing stop price stays the same. Until the order is eventually triggered like a normal stop order.

For your last question, I would say the best thing to do is to set the price distance high enough to avoid small dip. Of course, it make the losses higher, but avoid you false dip. It is a balance that you have to find depending on what you are comfortable with.

On other news, you can see that recently we broke our record of lent dollars, and the rate is very high. Don't miss this opportunity, traders need your dollars!

have a nice day all
Raphael
Bitfinex team

Thank you for your explanation, Raphael!

Yes, 100 to 200% (insured!) rates are pretty insane! And lucrative :-)

Ente

unclescrooge

hero member

Activity: 868

Merit: 1000

Quote from: Ente on September 03, 2013, 05:14:12 AM

..one more question about training stop orders:

In case of a trailing stop, will the sell price be lowered when the exchange rate slowly goes down? Or will the trailing stop price be monotonous, like always rising or at least staying the same?

How fast, how often, when, is the price updated? With every trade, or the average of x minutes, or the high of y minutes?

And now the tough question:
With a trailing stop order, I am guaranteed to eventually catch a dib down. And, once I use a trailing stop, and it is executed, I can guarantee the price will rebound. If I don't use any "security net", the same dib will prove to be ste beginning of a ten-year downtrend. What do? Cheesy

Ente

Hello Ente,

So, no the price of a trailing stop sell order will never go down. It is updated with each tick: if the tick is higher than the previous, the trailing stop price is updated higher. If the tick is lower, the trailing stop price stays the same. Until the order is eventually triggered like a normal stop order.

For your last question, I would say the best thing to do is to set the price distance high enough to avoid small dip. Of course, it make the losses higher, but avoid you false dip. It is a balance that you have to find depending on what you are comfortable with.

On other news, you can see that recently we broke our record of lent dollars, and the rate is very high. Don't miss this opportunity, traders need your dollars!

have a nice day all
Raphael
Bitfinex team

Ente

legendary

Activity: 2126

Merit: 1001

Quote from: urwhatuknow on September 01, 2013, 06:51:41 AM

Thank you all, I don't think I have any reason to not trust Bitfinex.

Quote from: urwhatuknow on September 01, 2013, 06:51:41 AM

I don't know how experienced you are, Tamis. I would suggest to trade with 10% of your Bitcoins only, for a start. And maybe with a token amount only until you figure out how all those functions work. They are all well documented, but you still has to wrap your head around them. And then there are details, like for example "what lending gets automatically closed when I sell?" which you simply have to try out. With 0.01 BTC for example.
So, no, I don't see BitFinex as the risk here, we ourselves are the risk for our Bitcoins ;-)

Seeing how bullish the market is I don't think I really risk anything at the time being ! I went to Bitfinex to get stop orders I couldn't use on Bitstamp.
I entered at 86$ stop is a 123ish.

Nice! :-)

Question about stop-loss in general:
Lets say I have a large volume margin position, and enter a stop loss. When exactly is it executed? Like, for example, stop loss at 123, at a volume of 1000 BTC? There would not be enough volume at 123. Would the system start at 126 BTC/USD exchange rate, so it closed the position when reaching 123? Or would it start closing at 123, which might not finish selling until the exchange rate dropped to 120?

Ente

Ente

The stop loss would be triggered at 123 USD, more specifically if the bid is at 123 for a sell stop, if the ask is at 123 for a buy stop.
So yes, you can have some slippage if the order is large enough, because it's impossible to calculate the depth beforehand.

I hope that helps

Have a good sunday

Giancarlo
Bitfinex Team

..one more question about training stop orders:

In case of a trailing stop, will the sell price be lowered when the exchange rate slowly goes down? Or will the trailing stop price be monotonous, like always rising or at least staying the same?

How fast, how often, when, is the price updated? With every trade, or the average of x minutes, or the high of y minutes?

And now the tough question:
With a trailing stop order, I am guaranteed to eventually catch a dib down. And, once I use a trailing stop, and it is executed, I can guarantee the price will rebound. If I don't use any "security net", the same dib will prove to be ste beginning of a ten-year downtrend. What do? Cheesy

Ente

capoeira

legendary

Activity: 2388

Merit: 1003

Thank you all, I don't think I have any reason to not trust Bitfinex.

I don't know how experienced you are, Tamis. I would suggest to trade with 10% of your Bitcoins only, for a start. And maybe with a token amount only until you figure out how all those functions work. They are all well documented, but you still has to wrap your head around them. And then there are details, like for example "what lending gets automatically closed when I sell?" which you simply have to try out. With 0.01 BTC for example.
So, no, I don't see BitFinex as the risk here, we ourselves are the risk for our Bitcoins ;-)

Seeing how bullish the market is I don't think I really risk anything at the time being ! I went to Bitfinex to get stop orders I couldn't use on Bitstamp.
I entered at 86$ stop is a 123ish.

Nice! :-)

Question about stop-loss in general:
Lets say I have a large volume margin position, and enter a stop loss. When exactly is it executed? Like, for example, stop loss at 123, at a volume of 1000 BTC? There would not be enough volume at 123. Would the system start at 126 BTC/USD exchange rate, so it closed the position when reaching 123? Or would it start closing at 123, which might not finish selling until the exchange rate dropped to 120?

Ente

Ente

The stop loss would be triggered at 123 USD, more specifically if the bid is at 123 for a sell stop, if the ask is at 123 for a buy stop.
So yes, you can have some slippage if the order is large enough, because it's impossible to calculate the depth beforehand.

I hope that helps

Have a good sunday

Giancarlo
Bitfinex Team

one thing is not clear to me:

I have a stop loss at, let's say 120.00

when Bitstamp highest bid is at, let's say 120.20.....A Bitfinex order at 120.00 is above that, and so my stop will be triggered

now the question; If I route my stop to Bitfinex, in the case above my stop get's triggered? Or only once there is a highest Bitstamp bid at 120.00?

Ente

legendary

Activity: 2126

Merit: 1001

Thank you for the confirmation, Giancarlo.

Ente

urwhatuknow

sr. member

Activity: 446

Merit: 250

CAT.EX Exchange

Thank you all, I don't think I have any reason to not trust Bitfinex.

Quote from: capoeira on August 31, 2013, 05:27:52 PM

I don't know how experienced you are, Tamis. I would suggest to trade with 10% of your Bitcoins only, for a start. And maybe with a token amount only until you figure out how all those functions work. They are all well documented, but you still has to wrap your head around them. And then there are details, like for example "what lending gets automatically closed when I sell?" which you simply have to try out. With 0.01 BTC for example.
So, no, I don't see BitFinex as the risk here, we ourselves are the risk for our Bitcoins ;-)

Seeing how bullish the market is I don't think I really risk anything at the time being ! I went to Bitfinex to get stop orders I couldn't use on Bitstamp.
I entered at 86$ stop is a 123ish.

Nice! :-)

Question about stop-loss in general:
Lets say I have a large volume margin position, and enter a stop loss. When exactly is it executed? Like, for example, stop loss at 123, at a volume of 1000 BTC? There would not be enough volume at 123. Would the system start at 126 BTC/USD exchange rate, so it closed the position when reaching 123? Or would it start closing at 123, which might not finish selling until the exchange rate dropped to 120?

Ente

Ente

The stop loss would be triggered at 123 USD, more specifically if the bid is at 123 for a sell stop, if the ask is at 123 for a buy stop.
So yes, you can have some slippage if the order is large enough, because it's impossible to calculate the depth beforehand.

I hope that helps

Have a good sunday

Giancarlo
Bitfinex Team

Ente

legendary

Activity: 2126

Merit: 1001

stopp loss is a market order executed after trigger, which is the top price in order book, so you would sell most of the 1000 under the price of 123

Makes sense, thank you.

Ente

capoeira

legendary

Activity: 2388

Merit: 1003

Thank you all, I don't think I have any reason to not trust Bitfinex.

I don't know how experienced you are, Tamis. I would suggest to trade with 10% of your Bitcoins only, for a start. And maybe with a token amount only until you figure out how all those functions work. They are all well documented, but you still has to wrap your head around them. And then there are details, like for example "what lending gets automatically closed when I sell?" which you simply have to try out. With 0.01 BTC for example.
So, no, I don't see BitFinex as the risk here, we ourselves are the risk for our Bitcoins ;-)

Seeing how bullish the market is I don't think I really risk anything at the time being ! I went to Bitfinex to get stop orders I couldn't use on Bitstamp.
I entered at 86$ stop is a 123ish.

Nice! :-)

Question about stop-loss in general:
Lets say I have a large volume margin position, and enter a stop loss. When exactly is it executed? Like, for example, stop loss at 123, at a volume of 1000 BTC? There would not be enough volume at 123. Would the system start at 126 BTC/USD exchange rate, so it closed the position when reaching 123? Or would it start closing at 123, which might not finish selling until the exchange rate dropped to 120?

Ente

stopp loss is a market order executed after trigger, which is the top price in order book, so you would sell most of the 1000 under the price of 123

Tamis

sr. member

Activity: 476

Merit: 250

Another stop order question, which order book is used ? the normal one or the lvl2 one ?
Sorry Ente I can't answer your question.

Ente

legendary

Activity: 2126

Merit: 1001

Thank you all, I don't think I have any reason to not trust Bitfinex.

I don't know how experienced you are, Tamis. I would suggest to trade with 10% of your Bitcoins only, for a start. And maybe with a token amount only until you figure out how all those functions work. They are all well documented, but you still has to wrap your head around them. And then there are details, like for example "what lending gets automatically closed when I sell?" which you simply have to try out. With 0.01 BTC for example.
So, no, I don't see BitFinex as the risk here, we ourselves are the risk for our Bitcoins ;-)

Seeing how bullish the market is I don't think I really risk anything at the time being ! I went to Bitfinex to get stop orders I couldn't use on Bitstamp.
I entered at 86$ stop is a 123ish.

Nice! :-)

Question about stop-loss in general:
Lets say I have a large volume margin position, and enter a stop loss. When exactly is it executed? Like, for example, stop loss at 123, at a volume of 1000 BTC? There would not be enough volume at 123. Would the system start at 126 BTC/USD exchange rate, so it closed the position when reaching 123? Or would it start closing at 123, which might not finish selling until the exchange rate dropped to 120?

Ente

Tamis

sr. member

Activity: 476

Merit: 250

Thank you all, I don't think I have any reason to not trust Bitfinex.