After paper trading for several months, I developed a really rock-solid tactic of making money trading bitcoin swaps on bitmex.
I started on 10th with $130, and since then, I’ve turned it into $390.
That’s about 13% returns per day. This means, after less than three months, I’ll be at over 3000 BTC—and around $3 million.
Presuming I continue my tactics and don’t liquidate myself, what exactly is stopping this from happening?
Murphy's law
not even liquidity to fill your bids and asks
I know *eventually* that’ll be a problem, but bitmex is a large enough exchange that it shouldn’t happen until I’m in the hundreds, if not thousands, of bitcoin. So yes, it won’t increase just forever, but it does at least seem like it would increase for long enough for me to be rich...right?
Yeah, bad things could happen, but that’s why I’ve put in stops
There’s liquidity, you can market buy and sell 1 million dollars worth no problem on any exchange.
That’s what I was thinking; I know bitmex has tons of volume to support that.
>doesn’t realize markets adapt to his trades
Oh, you will, user. You will.
As your bankroll gets higher, your losses get higher. You are having to bet more to keep up your exponential growth, therefore you can't risk manage. You have a few losing trades and you are toast.
No system is foolproof. Sorry user.
They will for sure. I’m just wondering at what point I’ll be big enough for that to happen.
What's your tactic?
Oh, it’s not fullproof. It’s like 90% successful; I have taken losses for sure, but I set stops for that reason so I may minimize them.
Any tips you have for a coinbase bro? Also is it just bitcoin options you're doing?
I basically wait for two indicators—stochRSI and MACD—to either max/min on the 30, 15, 5, 3, and 1 min intervals simultaneously. Then, I short hard if it’s maxed out, or long hard if it’s at a minimum; finally, I set a tight stop, then let it run. Like 9/10 times I make a good profit; the 1/10 times I take a loss are the times the stop kicks in and I take a minor loss.
Bulletproof OP. See you in three months.
Rn I’m on bitmex and bybit trading perpetual contracts. It’s not allowed in the US, but you can fix that with a VPN.
...
Nothing is stopping you bro, go ahead
Delete this
>checked
I'm too much of a square to do bitmex, want to pay my taxes n such. Any tips for swinging bitcoin though? Kinda scared to with the halvening
You could just report it on your taxes as you would normal trading.
You failed math. It’s a relative metric independent of position size
I know, I found the secret.
Yeah, it’s not a perfect correlate; there’s no training like the real world. But I had to start with something to narrow down my technique.
I’m not gunna ask you again
>paper trading
Ha! I didn’t see this part. Just wait til the broker places opposite trades against you whenever you open a position.
No
That’s why you set stop orders lmao
user, I am a retarded lurker trying to learn and you sound like you know your shit. Can you dumb this down any further?
MACD and StochRSI are just financial indicators. I honestly don’t know much; they just track trading momentum
>he doesn’t know about stop loss hunters
How to tell when its maxed out? When both stoch and MACD are starting to curve down, all at the same times?
When you say bitcoin swaps are you talking any random btc alt pair? Or btc usdt
StochRSI maxes out at 1
Btc usd
How many trades per day does this system produce?