Topic: We made a free portfolio tool with BitMEX position tracking. (Read 146 times)

"Could you please explain more on what exactly this tool will do for a trader"?

Settle's portfolio app can pull in bitcoin addresses, ethereum address and a bunch of exchanges.

Within Settle Portfolio, you have 3 tabs for looking at your postions: Assets, Deritatives and Net.

Assets - simple accounting of coin holdings you see in portfolio trackers.
Derivatives - We take all of your BitMEX positions and do the math so that you can see them distributed in coin holdings. For instance when you buy "ETHBTC", you actually end up long ETH, but also short BTC. Settle translates all your BitMEX positions to what exposures they are in each coin. (and shows you the math so you know where the numbers came from).
Net - combine both tabs for a composite view of your total exposure.

"what are the pre-requisites for making use of this tool?"
We use read only API keys. account sign-up is username and password. there is no fee to use settle's portfolio app. Manual trade entry is available. CSV import and export is on our priority list for new features to add.

"What is 'mental math"?
If you own 19.3 BTC and you are short 40000 BTCUSD and long 130 ETHBTC are you long or short BTC? if you have BTC on 2 exchanges, a cold wallet and your bitmex balance, which is also changes as you make and lose money on your position, this is not easy. We give you 1 number.

"This tool is limited only for bitmex exchange or available for few more other exchange users too ?"

It is designed to be a full service portfolio tracker. We will be adding exchanges as users want them, and will also be integrating collaterallized onchain lending dapps in the future.

"May I know why you are developing this tool for that exchange and why not for bitrrex or poloniex ?"

Bittrex and Poloniex are fully supported (as are many other exchanges like Cryptopia, Binance, KuCoin, Gemini, Coinbase, Kraken, Bitstamp, HitBTC, Liqui, Gemini and IDEX). We have no business relationship with BitMEX, but that is not a philosophical position. We generally want to work with whoever wants to work with us.

Could you please explain more on what exactly this tool will do for a trader and what are the pre-requisites for making use of this tool ?

What is 'mental math" ? Calculating how much profits you will make if a trade goes as per your expectation or  is it doing anything with entry/exit point ? This tool is limited only for bitmex exchange or available for few more other exchange users too ?

If I remember correctly, bitmex is the exchange which is providing the shorting type of trading for cryptos right now (and most other major exchanges are not having this feature), is this tool doing anything with shorting especially ? May I know why you are developing this tool for that exchange and why not for bitrrex or poloniex ? is this just due to you are trading there ?
(I ask all these as I doubt on the possibility of an indirect promotion for that mentioned exchange).

I thought it was difficult to keep doing the mental math always combining my bitMEX positions with my holdings, So we made a Portfolio Tracker with a built-in BitMEX Calculator.

It is a free tool, and we really are looking for feedback to figure out what features to add next!

https://imgur.com/55AoVOH
https://settle.finance/blog/bitmex-calculator-inside-settle/