Post
Topic
Board Trading Discussion
Re: I want to daytrade on bitmex with leverage
by
N0sferatu
on 01/08/2019, 11:41:20 UTC
Good thing you already have some experience in trading before starting with Bitmex!  Cool

1) x5 is more than enough at the beginning. You may even start with x2 or x3 to get a feeling for this (highly recommended). A x10 leverage will wipe your balance away in minutes, especially with tight stop-losses (think again if you want to do this as spikes are usually bigger on bitmex).

2) None. The time frame is too short for any indicator. Look for candlestick patterns instead and use RSI & moving averages on a daily time frame.

3) I don't really get that question.  Huh
To my personal experience, setting a goal for a week/ month or so isn't advisable. It will make you feel uncomfortable in some situations. But, it is definitely possible to grow your balance exponentially.

4) The most realistic to say is: "90% of traders lose money." See point 3 instead.  Wink
If you're able to make recurring profits, you're ahead already.