Re: Test for free our new futures exchange, and get paid bitcoin!
I really thought that my question was a stupid one. Another question I have is regarding this auto-deleveraging system, isn't that kind of interfering with the users decisions? Don't get me wrong, I see the point of doing that but I think the users who do do high-leverage knows what they are doing I guess.
No, your question is a great one!
Auto-deleverage is bad, no questions about it, but it is also inevitable in leveraged trading. The best that we can do is make it very unlikely.
Let me give you an example. Suppose we have two users, one buys 1BTC with 100x leverage (with 0.01 BTC as margin), and another sells 1BTC with 100 leverage (also with 0.01 BTC as margin). If there are no other users and BTC price rises 1%, the user with the short position will be liquidated, and we'll have to close the long position at this price. So the buyer will get 0.02 BTC, doubling his money, but won't get anything more than that, simply because there is no money available in the system!
Of course, the exchange itself can pay up for the difference, and that is what an insurance fund is for, but even so the insurance fund may run out and an auto-deleverage may happen. So an insurance fund can at most make auto-deleverages less common.
Is it also possible to have an option to instantly close the order than first having the pop up box and then confirming.
Good idea! Added to the TODO list.
I've never seen a service that preemptively crashes when something goes wrong. I could imagine shutting it down, but crashing doesn't seem right as a solution.
You are right, we should shutdown gracefully if we have a bug (instead of crashing). We'll add that to our TODO list.
When I close a Position, the popup shows: "order created successfully!.". And nothing changes.
We'll investigate this bug. Also, we have in our TODO list already to improve these popup messages. Currently this only means that we received your request, but your order may not have actually been created successfully. What happens if you try to close the position again?
I placed 3 orders, each with different Leverage. Still a n00b here, but I would have expected them all to show up onder Positions. It seems they're added together, is that as intended?
Yes, this is intended. We only have one open position per market per user, so if you trade with different leverage the position adds up all the margin. Maybe we can do better than that. Would you prefer your positions to be handled (and potentially liquidated) separately? (This would not be easy to change, so I don't promise it will happen anytime soon).
Update: I closed the browser tab and opened it again. Now the site is back to the previous layout (with my Assets on the left), and without the overview of open Positions. Are you updating things right now, or did something go wrong?
That is weird. Can you send us a picture?
My (test) withdrawal is Approved, but not processed.
We'll process your withdraw today
