₦airaland Forum

Soul47:
The end of class 3.

,_

Soul47:
The third lecture right...

Will do that this evening or early tomorrow.

yeah. You haven't posted the last one

biggal:
I bought coins from them. Bluekey coin

nawao....u went and bought ico. Ico is dead men

Please add me up to group na

09077881906

Please and please

Balanciego:
class will hold today by 5pm

Please add 08024162711

Permit me to continue from where Soul47 stopped.

Our last class which was the 4th class was on Trading On Bitmex. The following are direct Copy and paste from the class on Whatsapp which was anchored by Balenciego

Topic of today: BITMEX Site interface usability
Everyone should sign up and login on Bitmex dot com

When you login on Bitmex, this is the upper part of Bitmex interface

In the image above there is

Place order
Market
Stop market
Order value
Available balance
Post only
GoodtillCancel
Buy long
Sell short
Quantity
Limit price
Your Position
Contract details

place order

To trade bitcoin either in long(up) or short(down) direction.

Limit

Limit means that you as a trader do not want to trade in the current price of bitcoin. So you input your own preferred price in the space provided for quantity in USD.

This is done when you are not ready to trade in a particular price of bitcoin rather you wait till it reaches the limit price which you provided in the quantity space.

Market

Choosing Marketing implies that you want to trade with the current price of bitcoin meaning that if you place your order, it will be filled asap.

What you need to do is to put the amount of bitcoin u wanna trade and submit

stop market

A Stop Market Order is a market order that is triggered (opens) when your stop price is hit. You pay the Taker Fee of 0.075%.

This is high end of stop loss. Sometimes stop loss fail during high volume trading on Bitmex. But in stop market, you place your quantity and a stop price.

Set the trigger (mark), liquidation price (will be explained)

Immediately that price is reached, your order is triggered

Trigger should be set as mark. Close trigger on trigger should be ticked

Stop market is used when you are not a full time trader. Eg u are not one of those that stay up all trading.

Stop market is for passive traders

08151420983 pls add me to the group am new to crypto sha

order value is the amount of bitcoin in USD u are using in a particular trade

Available balance is the total amount remaining for trade

Post Only are Limit Orders that are only accepted if they do not immediately execute. That is, Post Only Orders never take liquidity. This order type can be accessed from the Limit Order, Stop Limit Order or Take Profit Limit Order selection by checking the “Post-Only” box.

User Input: Quantity, Limit Price, Post-Only Box Checked

Post-Only Order Example
Quantity = 10 Contracts
Limit Price = 10002
Post-Only Box = Checked
Direction = Buy
Best Ask = 10001
If the Post-Only box was not checked in this example, then this order would execute in the market against the Best Ask of 10001 and the order would pay the Taker fee. Given the Post-Only box is checked, this order will not execute and be cancelled. Only if the Best Ask was higher than 10002 will this order be placed in the market.

pls oo sumtin is confusing me here ooo, what I have been hearing about crypto is that you buy low and sell high but now am seeing going short so my question is that assuming I enter the market and I saw that maybe PVT/BTC price is going down can i enter the sell option and still be in profit like forex and seconding how do you guys calculate your profit cos in forex if a trade goes like 10pips in your favour then you know it's 10cent depending on your lot size, is it the same in crypto trading

Soul47:
Never been scammed, all thanks to God and caution.

On the other hand I notice that my transfer fees are just too much of a fee.

I wouldn't know if it's normal or the issue is from the exchange platform; luno.

I requested to withdraw 631k surprisingly I received 618k meaning about 13k was deducted for transfer fee...
I find it kinda Too big.

Please is it something we should expect normally or are there cheaper exchange platform...

Due to that I haven't withdrawn money again, all locked up.

Any suggestion?

Looks like you sold to luno company itself instead of selling to another trader using via luno exchange.

shadow3:
pls oo sumtin is confusing me here ooo, what I have been hearing about crypto is that you buy low and sell high but now am seeing going short so my question is that assuming I enter the market and I saw that maybe PVT/BTC price is going down can i enter the sell option and still be in profit like forex and seconding how do you guys calculate your profit cos in forex if a trade goes like 10pips in your favour then you know it's 10cent depending on your lot size, is it the same in crypto trading

To your first question, you are buying for long (buy to sell higher) or Short ( sell to buy lower). Your profit is the difference in prices.

To your Second question:
To calculate your profit;

Assuming you enter the market buying BTC worth $100, also assuming the current price of 1 BTC is $10,000.

Assuming you forcasted that the price of BTC will increase to let say 10,500 which is 5% and you sell the BTC. Your profit is $5 which is 5% of $100.

Note : your profit also depends on the margin in which you trade.

That's my little explanation, our teacher in the house will also expatiate further. If you have more questions please ask.
Thanks

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shadow3:
pls oo sumtin is confusing me here ooo, what I have been hearing about crypto is that you buy low and sell high but now am seeing going short so my question is that assuming I enter the market and I saw that maybe PVT/BTC price is going down can i enter the sell option and still be in profit like forex and seconding how do you guys calculate your profit cos in forex if a trade goes like 10pips in your favour then you know it's 10cent depending on your lot size, is it the same in crypto trading

yes you can make profit when a coin is falling. it's called short selling. this depends in the exchange you are using. not all exchanges allows short selling or margin trading.

example assuming bitcoin is falling, you can short it and make profit.

Shawnpp:
Please add 08024162711

Soul47 will add you

Pls add 08132568183

Maths125:
To your first question, you are buying for long (buy to sell higher) or Short ( sell to buy lower). Your profit is the difference in prices.

To your Second question:
To calculate your profit;

Assuming you enter the market buying BTC worth $100, also assuming the current price of 1 BTC is $10,000.

Assuming you forcasted that the price of BTC will increase to let say 10,500 which is 5% and you sell the BTC. Your profit is $5 which is 5% of $100.

Note : your profit also depends on the margin in which you trade.

That's my little explanation, our teacher in the house will also expatiate further. If you have more questions please ask.
Thanks

thanks sir you just cleared some of the things troubling my mind... but pls I still have another question, assuming I bought $100 bitcoin at maybe 15,500 and it falls to like 5000 will I loose all the $100 bitcoin as the price goes download or what am I going to loose

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- Cryptocurrency trading
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Apply now for the free blockchain certification course. It's free!
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Maths125:
Permit me to continue from where Soul47 stopped.

Our last class which was the 4th class was on Trading On Bitmex. The following are direct Copy and paste from the class on Whatsapp which was anchored by Balenciego

Topic of today: BITMEX Site interface usability
Everyone should sign up and login on Bitmex dot com

Thanks A lot.

shadow3:
thanks sir you just cleared some of the things troubling my mind... but pls I still have another question, assuming I bought $100 bitcoin at maybe 15,500 and it falls to like 5000 will I loose all the $100 bitcoin as the price goes download or what am I going to loose

That is 75% fall, you will lost 75% of your $100.

Pls add me to the rich gang group 07030656773

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Una dey see am
For people decieving u that they mine bitcoin in nigeria and u sheepishly believe

Maths125:
That is 75% fall, you will lost 75% of your $100.

wow!!! k thanks for the answers... jah bless

09035313190
Pls add up

Please add 08035802462 to the group. I just read from page 1 to 20 and I felt inspired. Please add me up 08035802462

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