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Anthony Pompliano: Bitcoin Is Superior to Gold


Read The Article Here
https://www.livebitcoinnews.com/anthony-pompliano-bitcoin-is-superior-to-gold/

Its happening people!!!!

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Class 5

Continuation of class 4; on Bitmex Trading

In our last class, we stopped at Post-Only

Today we will continue from Goodtillcancel

Goodtillcancel is a type of order filling that slowly completes a traders order in badges instead of once. If you have been a trader, you will notice that orders do not fill once. It's either it's filled in small quantity of slightly different prices or it's filled once. When you choose Goodtillcancel, you are telling the order server to fill your order in steps or as the market feels while in fillorkill you are telling the server to either fill it or kill the order from the order book while immediateorcancel means that either the order is filled immediately or it isn't. Nothing like in badges. The preferred one is Goodtillcancel

Buy long
Means you are trading in uptrend of the market. IE you are hoping the Bitcoin will rise there you are staking your funds to that rise.

Sell short
Means that you are trading in downtrend of the market IE you are hoping that Bitcoin will fall, therefore you are staking your funds to that fall.

Quantity is the amount in USD u are willing to stake.

Limit price is your preferred price you want to enter the market. Assumin Bitcoin is a 10,600 but u never wanted to buy/sell at that price. You can choose your own limit price maybe 10,500 or lower for buy/long and 10,700 or lower for short selling.

Your position means which coin you are on. Contract details means the summary of the coin you are on

In the contract details, we have the pricing source as Bitmex index. Index price 24h in USD traded on Bitmex index, the number of turnover done, open interest, open value, funding rate, etc. This doesn't matter in the course of this class

In the image we have
Order book
Depth chart

Orderbook contains all the buy/sell orders of a coin. It helps to tell the volatility of the market.

Green orders are buy orders while red orders are sell/short orders.

Depth
I have explained depth chart in Binance topic. Visiting the topic will help refresh your mind

Depth chart is a graphical representation of the strength of buyers and sellers in a market. A healthy depth is a depth that has consistent increment from center to right/left. An unhealthy depth is inconsistent/sharp increase from center/close to center to right/left

In this case (picture below) buyers have more strength or emotions; hence healthy depth.

Unhealthy depth shows like a straight line

Separate health from strength

Both differs

Q: Which did you think is better between bitmex and binance

A: Not about better but interface.

There are sths Binance does that Bitmex don't and vice versa. But in terms of money making, Bitmex can make more money for you than Binance as a result of its short selling.

Q: But, that bitmex interface no make sense at all plus they don't have many pairs...and no mobile app too

A: Get used to the interface. That is one important thing a trader have to know. There are exchanges you will not like but because it makes the money for you, you get used to it

Q: 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 down or what am I going to loose?

A: 15,000 to 5,000 is around 75% fall. You will lose 75% of your $100

Q: I thought In this case, one can onlylose only when one sells the bitcoin, what if one leaves it and it rises back??

I need more clarification in this.

A: That you never sold doesnt mean the dollar value isn't falling. What remains constant is your satoshi value but your dollar value isn't.

That's where the phrase of not losing till sold came from

Next question is based on the picture below; about depth chart.

In this case buyers have more strength or emotions

Q: But I thought when the green one is higher it means there are more buyers in the market than the sellers, so they have more strength cuz the price will rise and vice versa

Am I getting the depth analysis wrong this way??

A: Yes. Strength and health isn't mutually inclusive

Q: I get.

I was only confused when you said buyers have more strength in the last graph while the green graph was higher than the red

A: Green are buyers, so they have more strength

Q: You got an example of an unhealthy one

A: In the image i posted (below), The center to left/right was in conic or semi circular shape. Unhealthy won't occur like that. It will be like a straight line that doesn't start from the center, maybe close to it. Shaped like square

Q: On the depth....can we exactly tell the numbers of buyers at a particular price range? because as noticed on the depth,after a particular price there is space between another n the amount bought.... in-between those spaces,can we tell those amount bought that the graph didn't clarify.....hope I am understood.

A: You can't tell. There are orders that do not end on the depth as a result of how fast orders are filled. What you can do is to go to recent trade and view the number of trades there

Q: My question is what is the idea behind making profit while the price is going down

A: It's called short selling. The way you predict bitcoin to rise, you can also predict it to fall and make money off it by short selling

Q: And Goodtillcancel allows you to fill your order slowly,while fill or kill is telling you to fill it immediately n no badges....I would have thought, considering you are doing a business and being fast, one will prefer fill or kill...saving time ...sorry,this takes us back a lil

A: Why goodtillcancel is preferred is that it's hard to sell an order of same price and amount. Therefore you might want to buy 500$ of bitcoin at 10,800 and someone is selling 300$ at that price, 300$ will be filled to you while u await the remaining 200$ of same price to show.

Class 5 continues

From left to right We have;
Timeframe icon
Settings
Indicators
Symbols addiction
Chart expansion.

This images comes up when you enable chart on your Bitmex account.

Timeframe.

You can tweak the time of trading you want. 1minute to months

In the settings, there is a whole lot you can do in settings, time session, style, background, scales etc

Symbols addition is for adding and comparing symbols. Not important

Chart expansion is used to view chart in full screen.

Next topic will be on margin trading.

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Soul47:
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Thank you.

Soul47:
In the settings, there is a whole lot you can do in settings, time session, style, background, scales etc

Symbols addition is for adding and comparing symbols. Not important

Chart expansion is used to view chart in full screen.

Next topic will be on margin trading.

Class 6' Margin Trading

Margin trading in summary is borrowing money from exchange in order to finance a trade. It is a high risk high profit method of trading

You can have 100$ and trade as if you have 10,000$

You can buy 1 Bitcoin ($11,670 at time of screenshot) with 0.1 BTC ($1,167) by buying a 10x leveraged position. You pay only 10% Initial Margin. You can also short the Bitcoin price (profit from a fall in its price) by Selling the Contract. The most you can lose is your Margin.

Place order box Quantity: The quantity of the trade is $11,670. This is your position. But the money you place at risk is less than this, depending on what leverage you choose. The higher the leverage, the less you place at risk, but the greater the probability of losing it.

Cost: The cost is 0.1015 BTC i.e. $1,184.

Cost = Initial Margin+ (2 x Taker Fee)

Cost = (1/Leverage x Position) + (2 x Taker Fee)

= (1/10) x 11,670 + (11,670 x 0.0015)

= $1,184.50

This is the maximum you can lose

You lose the entire amount should the price fall by 10% from $11,670 to $10,500. If the price was to crash to $5,000 your loss is still limited to $1,167 which is the value of your Initial Margin.

PS In margin trading. You can make more money than you could have but also can lose it if you make wrong judgement. In as much as its profitable, I want everyone here to use the demo account to practicalize margin trading.

Order Value: The value of your position is 1 BTC i.e. $11,670. (0.9889 BTC to be exact.) Fees are calculated on this amount.

Profit and loss scenarios For 10x at long position.

Remember u can use any leverage other than 10x for trading.

your profit can exceed 100%, indeed it is unlimited, but your loss is limited to 100% (i.e. $1,167) , however much the Bitcoin price falls.

Q: Don't know if its because I wasn't here during the previous classes, but I can't seem to understand this margin stuff

A (Oceanized25): Basically what he said was, it's just like you using #10 naira of ur personal money but borrowing 90 naira, making it #100 for trading, When you want to trade with #100.

If the actual price of what you want to buy (that is #100), comes down to #90, that means your #10 is gone.

But if it doesn't n you do your trade n you win... You make more money, as basically the more you put into trading, the more your profits

But even if you loose, you are not loosing much as you used only 10% of ur investment, the rest was

Q: Thanks. But I still have a few questions.
Is it just virtual? Like if I lose all, will I pay back?

A: You loose your main 10%,the other one you borrowed you won't pay back....
Free borrowing...I think

Q: By win, do you mean selling the bulls. Or are you referring to binary?

A: The idea is making profit,wether it's by selling or buying...

Q (Based on picture above): Pls I need explanation to this, I sold at 10x leverage. This is what it showed me after

A: It's correct. You entered a short order at 11833. If Btc touches 13073 your order is closed and u lose the trade.

What u did is to trade that btc will fall and you are losing 1.54% of your portfolio

Q: You said that he used 1.54% of his portfolio

A: No I said he is losing 1.54% if you include takers fee and slippage loss

Sorry, he went short so he gained 1.54% already

Short direction is opposite of long direction