I am using the 200:1 leverage limit with crypto. 500:1 is only for Forex and metals, etc. Solana is only 1:100 because it is so volatile
Since I started trading Sep. 16, here is my my report generated by MT4:
Gross Profit: 165.98, Gross Loss: 0.32, Total Net Profit: 165.66
Total Trades: 124, Short Positions (won %): 18 (100.00%), Long Positions (won %): 106 (99.06%)
Profit Trades (% of total): 123 (99.19%), Loss trades (% of total): 1 (0.81%)
The only loss of $0.32 was a typo on a take profit setting. I got a long mixed up with a short.
Bitcoin price has been very unpredictable and flat this week because of the FED print on the 17th. The expected 'pump and dump' was already factored in by most traders. I was going short on the ups and long on the downs, 'hedging'. NYC dumped more than usual on Friday, so I bought like a demon. Next week I should make more money as the the price goes back to its normal daily volatility. NYC at 8am local and Asia at 9am local. Asia closes while Europe is still open and NYC opens while Europe is still open. Asia is the 1st to open each day and week, and NYC is the last. Europe is stuck with the price Asia gave it and has to think of what price to give to NYC. Asia looks at what NYC left it and decides what to do. I could start keeping track of the closing price in each time zone and see if that helps. Mostly I just watch the price moves in the 1st few minutes of each market open. Europe is the one I am usually sleeping through. I am on the west coast of Canada. 5am = NYC 8am , and 5pm = Asia 9am the next day.
Here is my daily statement at Friday close:
Floating P/L: -1 039.96
Equity: 20 464.95
Margin Requirement: 578.08
Available Margin: 19 886.87
Margin Level: 3529.80%
$578.08CA @ 200:1 = $83,000US in coin. I have about 72 positions open @ 0.01 coin each. This is high for me because of my Friday frenzy buys. I normally try to keep the count at ~20-30. MetaTrader 4 starts to slow down at 100 open orders so my actual limit will not be my $20,000 but ~ $800 which is about 100 x 0.01 @ 16500 price. If I go to 0.02 then that would be $1600 limit. I think bitcoin would need to drop to about $90,000 before I get a margin call. I doubt it would drop that fast. I could set all my 'stop loss' limits to $112,000 and that would save most of my balance. I can't see it going that low. When the price of bitcoin hits $150,000 then I may limit to only 75 open orders. That may be a reason why margin traders can't raise the price much right now.
The last ATH had a huge dip afterwards. I made almost $1,600 that week and over $4,200 for the month of August.
Since NYC sold it down more than usual for a Friday, all my positions are long from 117743 down to 115354. As I write this the price is ~115900 and climbing. My 200:1 trading server is down for scheduled maintenance, but when it is back up it should have sold about 1/2 my orders for profit. I don't want to trade my original 20:1 account because I want to close it. To fund the new account I sold $20,000 in coin from my wallet. When I close the old account I will buy coin with that $20,000. I still have too many high open trades there that may not close until the next ATH. Only 24 open trades at ~$2,000 loss. 119000 will clear most at profit.