Leveraged margin trading is a thrilling way to gamble, with 100x available on Bybit, if you catch the market right you can see insane gains in a matter of seconds.
Bybit offer some good freebies for new customers $5 for filling out a short quiz, $5 for a twitter subscribe, $5 for trading 10 days in a row and more as well as shown. So you can get some free bitcoin and have a play on it without having to deposit anything to try it out.
Margin trading is not easy to do – but it’s a lot of fun and very rewarding when you catch it right.
Of course you don’t have to use 100x leverage, most people don’t recommend it, however that’s the way I do it and there are some good arguments for using the maximum leverage – the potential gains are of course as high as possible and the losses you make are less on a stop loss from a 100x trade – than from a 10x trade.
Imagine pinning the bottom of the price of Bitcoin with 100x leverage and watching it rise and rise for months. If you can manage to do that you will surely make a huge amount of profit.
Buying some Bitcoin
To be able to get started with this you need to buy some Bitcoin. You can’t buy Bitcoin on the bybit platform, so you need to get some first and send it into your account. Normally for this I use Coinbase.
Many other places exist where you can buy bitcoin and a decent alternative is Coinmamma.
Most of these will require you to complete KYC before you are setup so if you new to this environment then you need to be prepared to wait a couple of days for your KYC to through and you are all set.
Sending Bitcoin into Bybit usually takes around 1hr if sent from Coinbase Pro. My normal entry here is to purchase on Coinbase, transfer the balance in Coinbase Pro and then send it out to Bybit from there. It just eliminates any withdrawal fees by doing it that way.
Setting Stop Losses
Using 100x leverage is very dangerous because while if the market goes in your favour it will present you huge gains, if it turns on you, you are at risk of losing your entire balance very quickly (liquidation price). For damage limitation of this you need to set a stop loss. Normally I will use the 15% or 25% stop loss or just type in the field to set a custom one. This window will appear after you have clicked the buy or sell button and will allow you to finalise your settings before the trade is executed.
For a £20 deposit you will get around .00035 Bitcoin at current rates. For that you can purchase around 1500 contracts at 100x. If then you set a 15% stop loss you will lose around .00008 per triggered stop loss. It depends how I’m feeling how many contracts I will use, perhaps 100% of the balance if I’m feeling lucky/confident or maybe just 555 contracts for example if I want to limit my losses on my stop losses triggering. It is unlikely you will get a good 100x trade in the first time and so allowing for losses before you can get a good live trade is all part of the process.
Limt Order Vs Market Order
Using LIMIT orders where you specify the price where your order will trigger is recommended as opposed to Market orders where your trade will execute at the current price. Trading fees and also stop loss trigger losses seem to be considerably higher for Market orders. Occasionally, if the market is racing up then you will need to use the Market order for effective results, for me this is the only time I will use Market order.
Keep your balance low at first
I would recommend to use small deposits frequently, £20 is the norm for me. Even though you should be using stop losses for damage limitation, having only a small amount in your account at any one time will protect you from making mistakes and losing the whole lot. Getting effective results with this takes some dedication and patience. It’s not really the sort of thing you can pick up and play whenever you feel like it. You can pick up and play of course but the smarter way I think to do it is to follow the market, do your research, keep your eye on the Bitcoin price and dive into your account and start making the trades when the conditions are good.
เกม คาสิโน ได้เงินจริง เกม คาสิโน ออนไลน์ คาสิโน ใหม่ ล่าสุด คาสิโน ออนไลน์ สล็อต เฮง เฮง คาสิโน