Topic: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading - page 99. (Read 723903 times)
January 14, 2015, 10:32:35 AM
interesting that while total swap amount has declined steadily - from $22 million to $15.5 in a month+ time, that 7 million doesn't look like it has made its way back to the swap offers side as there's only 1.7 million sitting on FRR and 2.6 million to 0.04%
January 14, 2015, 01:39:35 AM
Hey everyone, just wanted to post a link to the latest announcement (just a reiteration of our security practices). I know some people asked about MultiSig, etc. so we wanted to take a moment to respond.
https://www.bitfinex.com/pages/announcements
https://www.bitfinex.com/pages/announcements
Regarding the security issue, I think the current withdrawal page has a potential loophole.
You have chosen to trust the third-party sms/voice validation provider for not inserting a malicious Javascript (e.g. changing the withdrawal address, etc.)
https://cdn.ringcaptcha.com/widget/v2/bundle.min.js
I guess it should be better to reference the JavaScript code by Bitfinex domains.
January 13, 2015, 07:35:00 PM
Is the trailing stop working at all? I shorted a coin, it showed up as -1 btc as a position. Then i created a trailing stop that was 1 btc above the current price. That was 238.71$. But it showed up as 472.01$ in the order list. I dont know if the price changed over time but it didnt look like it matched a sell at some point. Even though im sure the price dropped, good enough, but then raised more than the 1 btc again. The coin wasnt sold.
So am i misunderstanding something?
No i tried it with a long. Again around 1btc difference. Now the price shows up as 0.98. Might be the difference. But still strange and wouldnt make sense for the other order.
So am i misunderstanding something?
No i tried it with a long. Again around 1btc difference. Now the price shows up as 0.98. Might be the difference. But still strange and wouldnt make sense for the other order.
It looks to me that you set the delta to $238. A trailing stop would trail the price by a fixed amount, so if i wanted to buy at 230, i might put a trailing stop for $5 (this would mean my stop would activate if the price dropped to $225), but if the price rose to $240, the stop would now activate at $235...in other words, it will continue to always be 5 dollars less than the current price (bid or ask depending on the side of the position, long or short).
This can be useful, because it allows you to basically control your losses, which is what stops are meant to do, BUT, you might catch more of the gains, because it will change as the price changes.
Hope that made sense, let me know if you have other questions.
Ah, thats how it meant... to be. I thought it takes the actual price and calculates the difference itself. I might have get the idea of what happened myself though.
If i bought through margin trading then i have this active position. I can close it. But can i create close orders like stop loss or take profit orders? I only see the possibility to buy long or shorts with these order options.
There should be a dropdown menu for order type which will let you select between Limit, Market, Stop, Trailing Stop etc
I know, but this seems to be only for buying into a short or a long position. What about when i already have bought into and want to set rules when to close my position? I mean when it would be only one product then there would be buy and sell forms. There are only buy forms and a link to close a position. Or can i use the buy forms to close my position too?
You would be using stops or trailing stops in order to protect against moves against you, you would use a limit order at your target price, you can use OCO orders (one cancels others) in order to avoid having both orders sent. When the stop is activated, if it is set up as an OCO, it would automatically cancel the order it was linked to.
Yeah, it works. Though i wonder how i can achieve the following: I buy a long position. Then i create a stop loss for the same amount. But if it goes into that direction then i want to create another order that buys the same amount in the other direction, only a bit lower. So that iam in a short position of the same size at that point. If i would try to create a limit order then it would sell my actual position instantly. I could create another stop loss maybe. Though it would buy at market prices and with higher fees then.
And thats my second question. Can a stop loss be made to sell with a limit? For example setting a stop loss for selling when price goes under 230usd. The stop loss should sell then with a limit of 225 and when it goes lower than that then it should sell at market price. Anything like that possible?
I noticed that the fees are a big factor when trying to make a profit since the fee is for the borrowed money, so a multiple of the fee that it would be for the money only you own in your account. Has bitfinex the lowest trading fees for margin trades at the moment?
January 13, 2015, 03:44:11 PM
Hey everyone, just wanted to post a link to the latest announcement (just a reiteration of our security practices). I know some people asked about MultiSig, etc. so we wanted to take a moment to respond.
https://www.bitfinex.com/pages/announcements
https://www.bitfinex.com/pages/announcements
January 13, 2015, 02:51:13 PM
If i bought through margin trading then i have this active position. I can close it. But can i create close orders like stop loss or take profit orders? I only see the possibility to buy long or shorts with these order options.
There should be a dropdown menu for order type which will let you select between Limit, Market, Stop, Trailing Stop etc
I know, but this seems to be only for buying into a short or a long position. What about when i already have bought into and want to set rules when to close my position? I mean when it would be only one product then there would be buy and sell forms. There are only buy forms and a link to close a position. Or can i use the buy forms to close my position too?
You would be using stops or trailing stops in order to protect against moves against you, you would use a limit order at your target price, you can use OCO orders (one cancels others) in order to avoid having both orders sent. When the stop is activated, if it is set up as an OCO, it would automatically cancel the order it was linked to.
January 13, 2015, 02:48:44 PM
Is the trailing stop working at all? I shorted a coin, it showed up as -1 btc as a position. Then i created a trailing stop that was 1 btc above the current price. That was 238.71$. But it showed up as 472.01$ in the order list. I dont know if the price changed over time but it didnt look like it matched a sell at some point. Even though im sure the price dropped, good enough, but then raised more than the 1 btc again. The coin wasnt sold.
So am i misunderstanding something?
No i tried it with a long. Again around 1btc difference. Now the price shows up as 0.98. Might be the difference. But still strange and wouldnt make sense for the other order.
So am i misunderstanding something?
No i tried it with a long. Again around 1btc difference. Now the price shows up as 0.98. Might be the difference. But still strange and wouldnt make sense for the other order.
It looks to me that you set the delta to $238. A trailing stop would trail the price by a fixed amount, so if i wanted to buy at 230, i might put a trailing stop for $5 (this would mean my stop would activate if the price dropped to $225), but if the price rose to $240, the stop would now activate at $235...in other words, it will continue to always be 5 dollars less than the current price (bid or ask depending on the side of the position, long or short).
This can be useful, because it allows you to basically control your losses, which is what stops are meant to do, BUT, you might catch more of the gains, because it will change as the price changes.
Hope that made sense, let me know if you have other questions.
January 13, 2015, 01:47:08 PM
The trailing stop doesnt work for me. It doesnt trigger. Probably because of a wrongly calculated price.
Something that is needed in the website is a better javascript. Its not good that orders that are filled already still show. Only the prices are automatically updated, all other things stay until you reload the website. I think that should be made more userfriendly. The way it is now someone might think an order isnt filled yet while in fact the website only isnt updating such elements.
Something that is needed in the website is a better javascript. Its not good that orders that are filled already still show. Only the prices are automatically updated, all other things stay until you reload the website. I think that should be made more userfriendly. The way it is now someone might think an order isnt filled yet while in fact the website only isnt updating such elements.
January 13, 2015, 10:30:15 AM
Is nayone else getting disconnected? I have had to relogin 3 times in the last 15 minutes.
January 13, 2015, 09:23:08 AM
Is the trailing stop working at all? I shorted a coin, it showed up as -1 btc as a position. Then i created a trailing stop that was 1 btc above the current price. That was 238.71$. But it showed up as 472.01$ in the order list. I dont know if the price changed over time but it didnt look like it matched a sell at some point. Even though im sure the price dropped, good enough, but then raised more than the 1 btc again. The coin wasnt sold.
So am i misunderstanding something?
No i tried it with a long. Again around 1btc difference. Now the price shows up as 0.98. Might be the difference. But still strange and wouldnt make sense for the other order.
So am i misunderstanding something?
No i tried it with a long. Again around 1btc difference. Now the price shows up as 0.98. Might be the difference. But still strange and wouldnt make sense for the other order.
January 13, 2015, 09:10:15 AM
The "trick" is patience. Market seems kinda active today, so they probably also get a bit more support volume. An autoreply would be nice I guess though.
January 13, 2015, 09:02:48 AM
sorry if this has been answered but
is there a trick to getting reply for support ?
I sent an email 12 hours ago and didnt even get an automated reply or ticket.
please advise.
is there a trick to getting reply for support ?
I sent an email 12 hours ago and didnt even get an automated reply or ticket.
please advise.
January 13, 2015, 07:09:07 AM
I know, but this seems to be only for buying into a short or a long position. What about when i already have bought into and want to set rules when to close my position? I mean when it would be only one product then there would be buy and sell forms. There are only buy forms and a link to close a position. Or can i use the buy forms to close my position too?
You open a long by buying, and close it by selling the same quantity. Vice versa for a short. Going each way closes the other one... think of it as "increase/decrease my exposure to the price of bitcoin" rather than "buy/sell" and maybe that'll help.
So after you've opened a long position you can set a limit sell above the current price (at your hopeful price-target) and a stop sell below the current price (at your "Oh shit, bail" point), or set a trailing stop to follow the market and adjust its trigger price as the going rate moves up. Or all three.
Thanks a lot!
January 13, 2015, 06:55:39 AM
I think a windows and/or mac/linux trading client is essential for short term trading. Someone from the company earlier said latency is 6-7 seconds not sure which answer to take as final. If latency indeed is 6-7 seconds again not a friendly platform to short term trading.
and this one is obviously a newbie question : what are your trading hours & weekdays/holidays ? or is it 24x7x365
Thanks
and this one is obviously a newbie question : what are your trading hours & weekdays/holidays ? or is it 24x7x365
Thanks
Again, you can use your own client or pay someone to extend an existing client to implement their API. https://bitcointalksearch.org/topic/qt-bitcoin-trader-open-source-secure-trading-client-for-macwindowslinux-201062 for example (who is NOT affiliated with Bitfinex!) does so.
I don't know where you get 6-7 seconds(!?!) of latency from, maybe that was a worst case scenario? Typically the latency when trading is much lower.
Like most Bitcoin exchanges they very rarely go offline for maintenance, in practice they usually plan to run 24/7.
Thanks for your reply. Bagpipe mentioned a few messages earlier to my question that the latency varies with system load, it is around 2-6 seconds normal, but can vary whem more people click their buttons...
sorry I quoted it 6-7 seconds from my memory but if this is true with large number of users pressing their buttons at the same time this could very well be 6-7 seconds.
I get the API message clear..in fact most exchanges in the fiat world too don't provide clients to traders, its the exchange members that do..but in altcoin world we don't have members & brokers so I was kinda comparing with what BTC China provides.
Excuse my asking this question again but do the BTC exchanges run 24x7x365 except for maintenance downtime ? The longest running exchanges are forex but they shut down for the weekend. The reason I ask is because my trading system works better on finite trading sessions like 6 hours a day or 23 hours a day or even 5 days a week but to make it work on a trading session that began 5 years earlier and is going to end God knows when is beyond the scope of my trading system.
Thanks again
January 13, 2015, 05:28:36 AM
Seems that there is some problem with the trading engine just now...
The order are NOT matched, and the bid price is greater ask price.
The order are NOT matched, and the bid price is greater ask price.
January 13, 2015, 04:40:52 AM
I think a windows and/or mac/linux trading client is essential for short term trading. Someone from the company earlier said latency is 6-7 seconds not sure which answer to take as final. If latency indeed is 6-7 seconds again not a friendly platform to short term trading.
and this one is obviously a newbie question : what are your trading hours & weekdays/holidays ? or is it 24x7x365
Thanks
and this one is obviously a newbie question : what are your trading hours & weekdays/holidays ? or is it 24x7x365
Thanks
Again, you can use your own client or pay someone to extend an existing client to implement their API. https://bitcointalksearch.org/topic/qt-bitcoin-trader-open-source-secure-trading-client-for-macwindowslinux-201062 for example (who is NOT affiliated with Bitfinex!) does so.
I don't know where you get 6-7 seconds(!?!) of latency from, maybe that was a worst case scenario? Typically the latency when trading is much lower.
Like most Bitcoin exchanges they very rarely go offline for maintenance, in practice they usually plan to run 24/7.
January 13, 2015, 03:08:41 AM
Are you offering a windows & android client for trading ?
What is the latency of price, volume data received by traders ?
What the required margin in trading account for buying or selling one lot of BTCUSD ?
What is the latency of price, volume data received by traders ?
What the required margin in trading account for buying or selling one lot of BTCUSD ?
Currently we don not offer any mobile trading platform, but you can access bitfinex.com from any browser, including a mobile browser.
Latency would not have any real meaning in this context, because you are accessing us over the internet. The scale of latency internally is dwarfed by the variation you will experience based on where you are coming from and what route you are taking. All of our information is "real-time", in that there is no delay on any price or trade information. As far as trading engine performance, our current engine has performed remarkably well so far, but as our volume continues to rise, we are upgrading our back end systems, and that process is nearing completion. This should give us the ability to handle millions of orders per second, as well as allowing us to offer many new features.
The maximum allowed margin is 3.3 to 1, or in other words, you must have 30% of the total position size as collateral, and in order to maintain the position, you must have 15% of the position, or your position will be in danger of being liquidated. There is no lot size, necessarily, in BTC. Our minimum order size varies based on account size, and in general is only there to avoid spammy orders.
I think a windows and/or mac/linux trading client is essential for short term trading. Someone from the company earlier said latency is 6-7 seconds not sure which answer to take as final. If latency indeed is 6-7 seconds again not a friendly platform to short term trading.
and this one is obviously a newbie question : what are your trading hours & weekdays/holidays ? or is it 24x7x365
Thanks
January 12, 2015, 06:14:33 PM
I know, but this seems to be only for buying into a short or a long position. What about when i already have bought into and want to set rules when to close my position? I mean when it would be only one product then there would be buy and sell forms. There are only buy forms and a link to close a position. Or can i use the buy forms to close my position too?
You open a long by buying, and close it by selling the same quantity. Vice versa for a short. Going each way closes the other one... think of it as "increase/decrease my exposure to the price of bitcoin" rather than "buy/sell" and maybe that'll help.
So after you've opened a long position you can set a limit sell above the current price (at your hopeful price-target) and a stop sell below the current price (at your "Oh shit, bail" point), or set a trailing stop to follow the market and adjust its trigger price as the going rate moves up. Or all three.
January 12, 2015, 03:10:45 PM
If i bought through margin trading then i have this active position. I can close it. But can i create close orders like stop loss or take profit orders? I only see the possibility to buy long or shorts with these order options.
There should be a dropdown menu for order type which will let you select between Limit, Market, Stop, Trailing Stop etc
I know, but this seems to be only for buying into a short or a long position. What about when i already have bought into and want to set rules when to close my position? I mean when it would be only one product then there would be buy and sell forms. There are only buy forms and a link to close a position. Or can i use the buy forms to close my position too?
January 12, 2015, 11:20:10 AM
They are an exchange, not a software development company. They offer an API, so people are free to integrate it in "apps" as they see fit.
Very true, we are focused on making sure that we handle our primary duty of matching trades and maintaining a fair marketplace. We do also offer an API, and I know some people have set up clients that can access our system using that API (MarginBot for one, is a great example of this).
That being said, we are always trying to offer new features and ways to make the experience of trading on Bitfinex easier. We have a lot of cool new features on the horizon, and in the coming months plan on rolling out some new ways to access the API (FIX, WebSockets) as well as some new features. Maybe eventually we may offer a mobile client, but I am not sure how much people actually would want something like that.
January 12, 2015, 11:10:55 AM
@mjr
Please add some more performance statistics. Like "overall interests earned since beginning" and a monthly based list to have a better overview.
Add some statistics on fees, just seeing that my 30-day volume is 500x my net value is nice, but how much did I spend on fees?Please add some more performance statistics. Like "overall interests earned since beginning" and a monthly based list to have a better overview.
30-day total fees in trading fees and in margin fees would be nice. You see that my trading produces you a lot in fees and that I should trade less, because I'm only enriching you ;-)
@mjr
As soon as the backend upgrade is complete, I want to tackle reporting. I am hoping to make it much more customizable for all of our users, allowing them to access the information they want, in the format they want. So far, from what I have heard, this is a very widely requested feature. I haven't started on this, but I am picturing something along the lines of a report api, where you can generate the report you want, including the fields you want. I know that as more businesses and institutional clients start using bitfinex, the reporting aspect is very important.
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