I would never trade on x500 leverage at all, it would have too thin of a margin of error, even on a slightest drop in the price would mean you would lose your money. I mean drop in the price if you are doing long, if you are doing short than slightest increase would cash out your stand.

Which means whenever you put up your money on a 500 time leverage means it needs to go to the direction you are putting your money and never even a single cent backwards against your bet. Too much gambling for my taste on trading, if I am trading I want to trade on more conservative ways but even if I am going to leverage it I would prefer x10 at most.