Quote from: oda.krell on June 30, 2014, 10:28:53 AM

Quote from: shmadz on June 30, 2014, 07:53:13 AM

Quote from: molecular on June 30, 2014, 07:40:30 AM

Quote from: shmadz on June 30, 2014, 07:27:03 AM

It's nice that my alarms actually worked for once, now how to figure when to close open positions...

Should one just close now and take the profits?

Or do you just let it run and continue to let the fees eat away at profits?

Sorry for noob questions.

dear noob. If you're a noob, maybe you shouldn't use leverage.

Also: if you take profit in USD you're doing that bitcoin-thing wrong.

Please consider the option of closing your leveraged long position and just buying some bitcoin outright. No continiual fees attached.

Thanks molecular, sorry I wasn't more clear, I've just started playing with leverage on btc.sx -it's a pure bitcoin play.

I'm all out of fiat, and my mining income just isn't cutting it for me anymore, so I figured leverage looked fun.

Thanks for the advice anyways tho

Yeah, I think molecular was a bit harsh here.

To answer your question: going long on leverage in btc is slightly less dangerous to begin with than going short on leverage, but even the latter _can_ make sense, if used very, very controlled.

In your case, you're making a bit of a gamble that I personally wouldn't do: you are betting big (leverage) on a major breakout, but you don't know yet if that'll happen. I would probably suggest to close the leveraged position (and take profit in USD), but (if you have the time) get back into it once the breakout is confirmed. That would for example be breaking the daily SMA200 conclusively, and almost certainly breaking the previous 680 top. In that case, there'd be almost certainly enough upwards momentum to warrant a leveraged long position, even if you're comparably risk averse.

I am however assuming you're not leveraged beyond factor 2 or 3, right? Don't know what btc.sx offers...

Thanks Oda. 'edit=I'm trading 10 to one on experimental size bets.'

Quick question, do you normally have to pay any interest or fee to hold on to a bet that is in a positive position?