I am going to close my 20:1 account and go to a new broker that has 500:1 on BTC/USD. That is a 25x advantage. Does anyone else here do leverage trades on BTC/USD?
Just because leverage is higher doesn't mean it's more advantage. Just because it's 500x instead of 20x doesn't mean you gonna profit 25x.
It's more likely that you gonna get liquidated 25x higher than doing 20x leverage. Market always goes up and down on the lower timeframe. 500x more likely gonna get you liquidated before there's any meaningful price action.It's more likely that you gonna get liquidated 25x higher than doing 20x leverage. Market always goes up and down on the lower timeframe. 500x more likely gonna get you liquidated before there's any meaningful price action.
25x is the difference from going from 20:1 to 500:1. I was liquidated in the last week of Feb/2025 when I kept trying to buy my way out of every dip. I lost over CA$31,000 in 3 days. Since Oct/2023 I have made over $80,000 which would have been $100,000+ without the rookie mistake I made last Feb. I agree it is easy to get 'wiped out' with margin trading in BTC/USD. The trick is to keep your order total low. With $20,000 I try to keep less than $6,000 in open orders now. Then if BTC takes a big dip I can ride it out until the NYC cavalry buys it back up. At 500:1 and $6,000 max orders, I will still have $3,000,000 in buying power. Yes, $3 million for only $6k risked. If anyone wants a link to the broker for a new account bonus, please PM me.
Gotta explain that there's more risk for that $6k margin with 500x leverage compared to 20x leverage while you're at it.