Lots of new traders on BitMEX complain about being liquidated too easily because the 100x is too high. Prior to this update, you could only reduce your leverage manually by adding after you get into position. Now, when you trade on BitMEX, you can slide down the leverage and trade how you choose!
BitMEX Makes Major User Interface Updates, Adjustable Leverage. Trade Bitcoin Futures Easily2/19/2016 BitMEX has a wave of fresh updates which are incredibly useful to new traders. There are all kinds of new order types available now for advanced users, but most importantly you no longer need to trade with 100x on the popular daily contract! Lots of new traders on BitMEX complain about being liquidated too easily because the 100x is too high. Prior to this update, you could only reduce your leverage manually by adding after you get into position. Now, when you trade on BitMEX, you can slide down the leverage and trade how you choose! Look how simple that is. This is available on all contracts now at BitMEX. So no matter whether you are a beginner user who will enjoy the new UI changes or an advanced user who will enjoy the new ordertypes, BitMEX is the bitcoin futures exchange for you to try. Sign up now and get 10% off fees for 6 months.
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The year of the monkey has started with the coming of the bulls. Chinese traders have extatically bought this market up bursting through 2600 and above 2800 in the week since Chinese New Year celebrations have concluded. This is an interesting note given that the Chinese Yuan has actually strengthened in that time, and lots of people were concerned about a potential downturn as a result. This goes to show you that relying on simple correlations in trading is not a good strategy. Just because Chinese like to buy bitcoin when their currency is being threatened with various devaluations, does not mean that they will sell off when their currency strengthens a little.
Granted we were at a point earlier where the trend had potential to reverse, but now that we have rallied the uptrend is very much alive. Stay nimble, traders. It's been an exciting week for bitcoin. A really nice rally from the $370 support level over $50 up to $420. This is the same spot where we ran into some resistance last month and it could be a nice place for us to go sideways for a bit. Let's look at futures premiums now: Finally the discounts are gone. After a solid month of an inverted forward curve there's now premiums across the board on OKCoin's contracts, very healthy to see. Arbitrageurs of the cash and carry type are rejoicing: opportunities are returning. Don't forget to check out swapman's bitcoin futures arbitrage guide where he shows you how to profit from this. Another thing worth noting is how Bitfinex USD margin has been changing over time. Check out this chart from BFXData You can see that the rates for borrowing USD on the largest Western exchange in Bitcoin are extremely low. This makes margin-longing bitcoin very cheap and attractive, which is rocket fuel. Below we see why the rates are so low, it's because there's been a lot of people closing positions over the past month: So everything is looking healthy for the moment. Bitcoin is in a nice range, and currently has had a rally that is losing a bit of momentum, but with lots of room to go up as well still.
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