Quote from: JayJuanGee on Today at 08:00:17 AM

Quote from: Raja_MBZ on Today at 02:11:46 AM

We pumpin'... hope not again Bartin' after a couple of hours.

Quote from: Raja_MBZ on August 28, 2022, 10:26:14 PM

Well I did my part

@ImThour might come back once/if BTC goes down to show me the quoted post. Let me make it a bit clear that the position is hedged by the BNB short. So I only lose in case BNB/BTC pair goes up.

Yeah, but if you are at 3x how much of a pump do you feel good enough to close the position? how short-term of a play are you making? I suppose you are paying something for the BNB or whatever it is that you borrowed - when you are using 3x versus 1x..

So there is a price to pay to hold it for a long time, but if the BTC price shot straight up to $35k (within a day or two), then you might not even close it - if there did not seem to be any pause in such UPpity.. (remember October 2019 we had a move from $7,200 to $10,200-ish.. something like that in 12 hours?.. I know that those were different times, but we also know that sometimes unexpected shit does end up happening in bitcoinlandia from time to time).

Ummm... few points:

1. I'm not paying any interest on these as these are COIN-settled delivery futures positions on Binance (they are interest-free).

2. It's not really 3x leverage, I can make it up to 3x but if you calculate through the liquidation price, it's less than 3x. It's the same leverage level across both, BTC long and BNB short (i.e., if BTC halves = liquidation and if BNB doubles = liquidation).

3. There is no particular target for this position; it's primarily to remain short on BNB/BTC pair without paying any interest. Entered it at 0.0141 BTC per BNB, and it's currently at pretty much the same price. I guess I'll probably close it at around 0.0110 BTC per BNB and get to keep the profits.

Raja_MBZ

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