Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 93. (Read 723903 times)

Good stuff, I will try to give some information.

Thanks to all who helped out people with questions. Remember you can also look at this link:
https://www.bitfinex.com/pages/support

or this link:
https://www.bitfinex.com/pages/howitworks

where pretty much all of those questions have been answered.

In regards to the margin questions, here is what those sources would say:

"You will receive a margin call when the net value of your account reaches the required margin. When the net value falls below the required margin the position will be forced liquidated. The drop after which you can be liquidated depends on your leverage. When you have a margin position, you will see an estimated liquidation price (the price at which you would be liquidated)."

I appreciate those who explained this perhaps more clearly.

As far as lag, we are very aware of this. We put in place some optimizations to try and reduce the lag on the current system, and we are working very hard to get the new system up and running. It is pretty close, and we are basically just testing it very thoroughly to ensure that there are no unexpected problems when we go live. Ideally, we should be able to transition with no noticeable differences to the user, besides hopefully a much faster execution time. Of course, this is a really big change, and better safe than sorry. We worked really hard to get where we are, and we are still growing so rapidly, but we don't want to jeopardize any of our customers, so we are taking a very cautious approach. We are hoping and expecting to be ready the end of February, but you know what they say about the best laid plans of mice and men...

To those who are spamming negative comments, I appreciated HowardF's response about greener pastures. We are doing our best to provide a good fair exchange where people can access very deep pools of liquidity, and some cool features and tools. Obviously, we can't please 100% of the people 100% of the time, and we are sorry for that. We greatly appreciate those who have given us volume of 2,136,517.89 bitcoins over the last 30 days. We are setting new records on volume all the time now, and rushing to keep up. 2015 will be a big year for us, and once we have our new trading engine in place, expect to see a lot of cool new features and ways to access our market.

So, hopefully that addresses some of what was posted recently. Of course, I look forward to reading your comments.

check for spaces?

Chinese New Year coming up and Bitfinex's bank CATHAY UNITED will be closed from Feb 18 through Feb 23.

Will there be an alternative setup just like last year?   

Just want to plan accordingly.

If you use maximum leverage, your initial margin is 30% - out of your total position size, you pay for 30% yourself and take out swap to pay for the other 70%. The amount you owe to the swap provider remains fixed, so as the price goes against you and the total value of your position shrinks, the percentage of it that's marked as "owed" increases, and the amount that you own "yourself" shrinks. If that part shrank to 0% you'd have a position worth exactly what you owe and would absolutely have to be liquidated immediately to avoid loss. For safety, the margin call comes when 'your' portion is 15%

So if you started out with the price at $200, with $100/0.5BTC of your own, you'd be able to borrow and sell another 1.166BTC to get $233, bringing you up to a total of $333 of which you provided $100 (30%). You'll continue to owe your swap provider 1.166BTC, so your position remains open until the position as a whole is worth 1.372BTC - at that point you have 1.166 owed and 1.372-1.166 = ~0.2BTC owned, (and 0.2 is 15% of 1.372, or at least it is when you use the exact numbers rather than these rounded versions)

Since you have $333, the specific price point where that's worth 1.372BTC is $242/BTC, but the maximum distance from your starting price will vary - it'll be the same percentage difference each time, so long as you always use the same degree of leverage, and it'll be more "forgiving" (further away) if you use less leverage, since you then start out owning a larger percentage of your position, so it takes longer to shrink down to 15%

tl;dr: Your margin call comes when (Position value - Swap debt)/Position value ≤ 15%

Or to rearrange that a bit, when Position value = Swap debt/0.85 (since your swap debt is a fixed quantity you can calculate that one ahead of time and work out what pricepoint implies that position value)

Hello

How does the maintenance margin work exactly? Its at 15%

Means if you open a short with $100 to sell $330 worth of BTC, the position can't go more then $50 against you?

If you are -$50 the position automatically closes?

Can you explain? I dont see what you mean.

Bitfinex protection mode activated! Everyone is about to get burned!

Why there is 1 minute delay on orders?

Ordinarily you would start with a deposit of USD, use that and some more borrowed dollars to buy BTC, then when you close the trade you sell all the BTC back into USD, repay the borrowed amount, then keep the remaining USD as profit.

If you 'claim' instead of 'close' you would only sell as much BTC as you need to, to cover the borrowed USD, and then keep the remaining BTC as profit.


If you set a Trailing Stop Buy with a distance of $10, the trigger price will start at $10 above the current price and follow the market when it moves down (so that you'll buy at a lower price), but stay stationary when the price moves up, so that if it ever goes $10 higher than the prior low-point then the Stop will trigger and buy coins, to either open a Long or close a Short.

If you set a Trailing Stop Sell with a distance of $10, the trigger price will start at $10 below the current price and follow the market when it moves up (so that you'll sell at a higher price), but stay stationary when the price moves down, so that if it ever goes $10 lower than the previous high-point then the Stop will trigger and sell coins, to either open a Short or close a Long.

Too much price rise and drop in span of half minutes earlier, that went up to 230 plus and now down to 226.
I bought on leverage some BTC and although I placed long order on 228 I see my order is executed and I have since then $228.0917 as base price and swap cost is increasing not hourly but for some reason quite quickly now it stand at -0.05 in spam of 1 hr.

I thought I understand this marginal trading but I learn something new everyday. For some reason I will never understand this Claim, did anyone tried it ?

Also, how to place Trailing Stop order for longing (buying) or is it only applicable for Shorting ?

i seen that last night as well
everything seems to be fine now

The display of swap funds is glitched. The numbers change upon reload and offers keep appearing and disappearing. Please look into that.

EDIT: Seems like it already works normally again.

And now imagine how many people did not know that, as there is no binding description of how execution of orders works. I had to find out by trial and loss. But I heard about sited that allow you limit stop orders in addition to market stop orders. And just as mjr said: do not try to make volume, trade sparsely, change position once per 7 days or so, they are not happy with the fees either, as you heard.

wow thanks

Bagpipe, I think we all get that you're not happy with Bitfinex.  Maybe its time to move on to greener pastures?

Just what he said, but remember, your stop order will be executed AS MARKET ORDER, so you might end up selling your STOP at far less than you imagine. This is due to two reasons, one is that the orderbook is thin and the distance between buy and sell walls may be large. The second reason is that your stop order may be not the only thing executing and other stop orders and market orders amy take priority, but we will never know for sure as mjr refuses to discuss or reveal what is the order priority processing. I had to find out by expensive trial and error. The third reason is that the size of your order may cause undesired slippage on thin orderbook walls.

That's it. Wait, no, it is not. You have the buy/sell fees and/or lending fees and if you look at it: 0.4% on both way limit/stop orders, so, your method of making a stop order at 1% gain will almost certainly lead to a loss. Work with 4% movements at least, even 2% movements may not cover the common losses.

Yes, put a SELL STOP order at $221.99 (for example) with the amount equal to your long position. When the highest bid price gets to $221.99 (or lower), it will execute a market sell order for the amount you specified.

And good long entry, by the way!

hey guys  I have active margin position long from 220$ .It's possible to put stop /222 $ for example/ on this position ?

You mean something like MT4 that is connected to btc-e API? That one is available on btc-e, and why people use your site? Because they wanted to avoid using machine API. So you say it is the BEST option out there there is? I say okay, if that is what you recommend, I will have to use that. Specialized computer with specialized software using leveraged trading interface and there will be no need to use your service.

I place market orders:
4 out of 10 market orders executed, the rest was just non-existent. What IS going on?
Do I have to check what you are doing by reloading the page after each and every click?

People say banks are evil. I do not believe that anymore.
I keep 100-200 usd in my bank. I pay them several dollars a month in total.
When I had a request sent to them, they immediately called me that they are analyzing it and paying attention to it; later they called how I was satisfied with their response.

I gave bitfinex thousands of dollars and they treat me like shit. Customers do not have rights to timely information, proper order execution, not they have access to knowledge HOW ON EARTH their orders will be processed (it's a mystery), neither customers can have a peek at the ownership structure and/or internal dealings/working of the company. Even the order that just executed will appear in your listing maybe after 60 seconds sometimes. A lot of space for fraud, for sure.

Bernie Madoff, anyone?