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Tag: bitmex

Newsflash of February 3, 2020

Posted on by 4C-Trading

Market Cap at 2:15 (UTC) – $259,699,996,189 billion

Bitcoin dominance: 65.3 %
BTC $9,319.92 (-1.12%)
ETH $188.88 (-1.18%)
XRP $0.249462 (-2.19%)

Line to launch Link token trading


LINK, the coin issued by LVC Corporation, a subsidiary of Line will soon be launched for trading in Japan. Per the announcement, the coin will be listed on Bitbox as early as April, 2020. LINK was first listed on Bitbox on October 16th, 2018. However, LINK wasn’t available for US and Japan market due to regulation.

Bitcoin futures trading volume on Bitmex just crossed $2 trillion


Bitmex recently saw the new peak of Bitcoin futures trading volume. Per the numbers shown on the exchange, XBTUSD has crossed $2 million trading volume and it seems like the volume will continue to spike.
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Newsflash of November 1st 2019

Posted on by 4C-Trading

Market Cap at 2:52 (UTC) – $244,998,214,970 billion

Bitcoin dominance: 67.9 %
BTC $ 8,162.83 (-1.16%)
ETH $175.10 (-0.77%)
XRP $0.257316 (-1.17%)

Bitmex faces several issues related to security


On October 1st, Bitmex has accidentally sent an update using carbon copy instead of blind carbon copy which leaked a large number of customers emails. Bitmex is currently investigating on the issue. Currently, there are a few rumor says that at least 1000 emails have been leaked and the number can be higher.

Deribit compensates flash crash victims


On October 31st, Deribit saw a flash crash which pushed BTC $7,700, affecting several traders on the exchange. Per the tweet, Deribit will reimburse approx. $1.3 million automatically. Additionally, Deribit Insurance Fund will not cover these losses but the exchange itself.

Deribit will reimburse over $1.3 million in losses from the BTC index calculation data issue around 21:00:00 UTC on October 31, 2019.
The Deribit Insurance fund will not be used to cover these losses, but compensation will be covered by Deribit.

— Deribit (@DeribitExchange) 31 octobre 2019

Binance adds Russian Ruble


Binance recently added rubles gateways to the exchange, according to the latest update. Russians can now deposit and withdraw rubles through AdvCash or bank cards. AdvCash will charge 3% for each deposit and 2% for each withdrawal. However, deposit and withdraw through AdvCash will be free of charge.
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4C Newsflash of August 14

Posted on by 4C-Trading

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Market Cap at 11:53 (UTC) – $295,365,068,047 billion
Bitcoin dominance: 68.6%
BTC $11,337.14 (-0.57%)
ETH $211.27 (+0.44%)
XRP $0.299869 (+0.31%)

Samsung adds Bitcoin and Ethereum


According to Samsung Developer Blog, Bitcoin and Ethereum has been added to Samsung Blockchain Keystore. Not only Bitcoin and Ethereum, the developers also added Klaytn, a blockchain created by Kakao. However, the application is only available to the following devices: Galaxy S10e, S10, S10+, S10 5G, Note 10 and Note 10+. Moreover, users from seven countries: Canada, Germany, South Korea, Spain, Switzerland, United States of America and the United Kingdom.

SEC files a lawsuit against Veritasium

SEC recently launched an emergency lawsuit against Veritasium as they quickly freeze $8 million of the ICO fund raised in 2017. The SEC believes that Reginald Reggie Middleton, Veritasium’s CEO is guilty as he involves in selling securities token, misleading the investors, manipulating token price and possible scam.
Further reading: HERE

Barclays stop providing services to Coinbase


Barclays, one of the largest bank in UK has stopped providing service to Coinbase. The news was first reported by an anonymous individual to Coindesk. At the moment, Coinbase temporarily pauses FPS support for UK users and switches to ClearBank. The reasons behind the suspended relationship is unknown as all parties refused to comment.

UK ads authority penalizes Bitmex for misleading
ads


A newspaper ads of Bitmex published in January 3rd, 2019 has shown misleading information to investors. The ads is said to have exaggerated the return on investment and missed out the risk of investment on purpose. ASA, UK advertising authority has taken action against Bitmex these misleading info as the ads has breached CAP Code (Edition 12) rules 3.1 and 3.3 (Misleading advertising), 3.11 (Exaggeration) and 14.1 (Financial products).
Further reading: HERE

SEC continues to delay Bitcoin ETF


On August 12th, SEC released three documents stating that Bitcoin ETFs proposed by Vaneck SolidX, Bitwise Asset Management and Wildshare Phoenix are delayed. SEC believes that further period is needed to consider approving the ETFs.

Source:

https://www.sec.gov/rules/sro/cboebzx/2019/34-86630.pdf
https://www.sec.gov/rules/sro/nysearca/2019/34-86629.pdf
https://www.sec.gov/rules/sro/nysearca/2019/34-86631.pdf

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What is the Cross Margin on Bitmex ?

Posted on by 4C-Trading

[vc_row][vc_column][vc_column_text]In today’s article I will introduce you to cross leverage on Bitmex. How it works, why use it, and who should use it. 
But the first question is where to find it? The cross margin is available on different trading platforms. In this  article we will focus on Bitmex.
Note that from a fundamental point of view the principle and usage of cross margin will remain the same, regardless of the platform you use. From a technical point of view, this could change slightly. 
But first of all, let me introduce you to Bitmex.
It is a platform created in 2014, allowing margin trading. It is known for its easy access (no KYC), its leverage effects up to x100 and its many derivative products. Please note that you can only put BTCs, no FIATs are accepted. 
Bitmex’s success is based on 3 elements: very high liquidity, very low costs and very high leverage. This allows very good gains to be made with relatively small variations. 
The easiest way to get started with this platform is to use TestNet! This is like opening a fake account. So you can practice on the different tools that Bitmex offers. To differentiate the real account from the false account. Just look at the color of the logo. In green it is the non-real version and in red it is the real version).

Let’s get to the heart of the matter, the cross margin. 

Cross Margin, also known as “Spread Margin” is a margin method that utilises the full amount of funds in the Available Balance to avoid liquidations. Any Realised PNL from other positions can aid in adding margin on a losing position.
This margin method is useful for users who are hedging existing positions and also for arbitragers that do not wish to be exposed on one side of the trade in the event of a liquidation.
With cross margin, trades made with strong conviction that initially appear to be unsuccessful can be held until the market turns around in the trader’s favor. Here is a list of the advantages of cross margin : 

  • Decreased time spent monitoring orders
  • Greater flexibility
  • Additional account protection

Note that you should always, place a stop-loss to protect your position. We will not get in the details on how to trade  and manage your risk since this was covered in previous articles.
In the end, cross margin is interesting for scalping and/or swing trading. It avoids the excessive fluctuations that crypto currencies are so familiar with, by using all of your capital to cover your position. But be careful, because without a stop loss, the cross can very quickly become your worst nightmare and considerably reduce your capital and in some cases make you lose everything. So the cross margin is reserved for experienced traders.

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4C Newsflash of July 19

Posted on by 4C-Trading

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Market Cap at 1:47 (UTC) – $280,581,314,056 billion 

Bitcoin dominance: 65.9% 

BTC $10,365.30 (+7.61%) 

ETH $216.97 (+1.88%) 

XRP $0.31528 (+1.37%) 

CFTC examining Bitmex for allowing US traders 


Bloomberg recently reported that Bitmex is under CFTC’s scrutiny for letting Americans to trade on the exchange. The investigation is in progress to examine whether Bitmex intentionally allowed US citizens to trade on the platform. Furthermore, the spoke persons from both parties have declined to comment about the investigation. 

Bitcoin is deemed to be a legal asset in China 


According to Dovey Wan, a dispute on Bitcoin case has been finalized. In 2013, an investor bought approximately 3 BTCs and it was in the custody of the seller. After sometime, the business closed down without delivering the custodial Bitcoins. The buyers then sued the sellers. Six years after the case, the Chinese court finally released the document about the case. According to the document, Bitcoin is recognized as virtual property with value. Furthermore, Dovey affirms that the General Civil Law also recognizes Bitcoin as a property which is valuable, scarce and disposable. 

India takes action on Bitcoin 


According to a comment by the India’s Minister of State for Finance & Corporate Affairs, the government of India hasn’t banned crypto from the country. However, crypto trading remains lawless as the Indian government is currently examining by an Inter-Ministerial Committee. Additionally, due to having no separate laws in dealing with crypto, various departments and law enforcement agencies will have to take action based on the current laws. 

Japan creates a SWIFT network for crypto 


Reuters recently told by a spoke person that Japan is setting up an international network for crypto payments, similar to SWIFT and the network was approved by the Financial Action Task Force (FATF) in June. The person also said that the country is expecting to have the network released in the next few years. Additionally, a team related to the inter-governmental FATF will monitor and cooperate with other countries. 

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The Best Tool to manage your Risk on BitMEX (Video)

Posted on by 4C-Trading

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Let’s move on to the subject of the day! The 4C Position size calculator!

In this video, you will learn how to use our Position size calculator for the BitMEX trading platform. The calculator is available at the following address: https://4c-trading.com

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Money Management (PnL Trading)

Posted on by 4C-Trading

[vc_row][vc_column][vc_column_text]In this article, I will explain the basis of risk management, how to trade in PnL (Profit and Loss) and how to read our trading results at 4C-trading.
One of the most important aspects of trading is risk management. No trader is capable of doing only winning trades and that is completely normal. What matters in the end is to have a winning Risk/Reward (greater than 1) strategy. And above all to manage your trades with good money management.
A trader is not just someone who performs good technical analysis. He is also a very well organized person with a good sense of psychology. By organized, I mean methodical, and conscientious with a well-established strategy.
Here we will see how to manage your risk.
In the Bitmex/Binance bot developed by 4C-Trading, you will be offered in the configuration parameters to choose your risk: up to 10%.
Which risk to choose?

  • Very low risk profile: 0.5% – 1%.
  • Average profile: 1%.
  • Risky profile: 2% – 3%.
  • Very risky profile: >3%.

Note: This is a percentage of your trading capital, not your TOTAL capital for cryptocurrencies. Remember to make a clear distinction between your trading and investment capital.
What does risk correspond to?
This is the maximum amount you allow yourself to lose if your trade hits a stop-loss.
Let’s move on to a practical example on the PnL risk:
Binance :
Let’s imagine I have a trading account of 10 BTC (again we’re talking about capital only for trading here, I insist, but that’s important).
If I take a 1% risk, it means that at my next trade I can lose a maximum of 1% x 10 = 0.1 BTC.
If for this trade my stop-loss is at 10% and it is reached my loss will always be: 0.1 BTC. I will therefore have 9.9 BTC left on my trading capital.
The question you may have is why put a stop loss then? Why not leave the position until the liquidation price? Because from the stop loss we will be able to determine the size of our position on the trade. So, if my stop-loss is at 10%, how much will be invested in the trade?
The amount invested will follow the following formula :
Amount invested = (Capital x Risk%)/ Stop%.
In our example, the capital invested will therefore be: 1 BTC.
(10 x 1%)/10% = 1 BTC.
In this situation: you trade for 1 Btc of your trading capital. If your Stop-Loss is reached, you lose 0.1 BTC.
Another example:
Let’s imagine this time that the stop loss is at 5% what will be the capital invested?
Amount invested = (10 x 1%)/5% = 2 BTC.
In this situation: you trade for 2 Btc of your trading capital. If your Stop-Loss is reached, you lose 0.1 BTC.
Bitmex :
Now let’s imagine that you trade with a leverage x5 and the same parameters as in example 1:
The amount invested will remain the same as in the first example:
Amount Invested = (Capital x Risk)/Stop = 1 BTC
But this time instead of having 1 BTC of the 10 BTC of your trading capital, it will be 0.2 BTC of your trading capital that will be used.
In this situation: you trade for 1 BTC on the platform which corresponds to 0.2 BTC of your trading capital because you use a leverage at x5. If your Stop-Loss at 10% is reached, you lose 0.1 BTC.
What is the point of leverage? It allows you to bet more than your capital or to maximize the number of simultaneous positions.
At 4C-trading, thanks to our Auto-trade integrated in our bots, you only have to enter your risk, and we will do the rest.
The Risk Reward R/R:
This is a ratio used to evaluate the profit potential of a transaction in relation to its loss potential.
The ratio is calculated as follows: Gain potential/Potential loss potential.
The loss potential is the price difference between the entry point and the Stop-Loss order.
The profit potential for the transaction is the price difference between the target and the entry point.
If the RR is greater than 1, this means that the gain potential is greater than the loss potential.
Ideally, in order to build an optimal trading system, you will always seek to have an RR >1.
I hope that with this article you have learned new things and understood the importance of trading in PnL risk.
 

 

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Futures contract expiration

Posted on by 4C-Trading

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Quick reminder : « A Future contract is a derivative product and is an agreement to buy or sell a commodity, currency or other instrument at a predetermined price at a specified time in the future. They are either physically settled or cash settled. BitMEX offers several of its trading products in the form of a Futures Contract with cash settlement. »

Now, that’s very nice definition but I would like to draw your attention on the following sentence: «a specified time in the future». So it is important to understand that futures contract have an expiration date (a bit like your milk in your fridge?).

– Futures contracts can be traded purely for profit, as long as the trade is closed before expiration
I see you coming : « What happens to my position on expiration date ? »
Once the futures settle, the futures position goes away and the corresponding settlement P&L appears in your wallet balance.
– So if you want to continue the position, you would have to open a new position after the first one settles. Or you can close the original position prior to settlement and around the same time open a new futures position with a later expiration date.
On the associated image you can see the listing date and settlement date for the futures listed on Bitmex.
You want more details ? Easy, click here : https://www.bitmex.com/app/contract/XBTM19
You will be able to see the full contract details. Let’s deep dive in an example XBTM19 :
XBT = stands for Bitcoin.
M = is the expiry month code, stands for June.
19 = 2019.
So XBTM19 indicates that this contract is a future contract for Bitcoin which will settle at the end of the month of June. In the details you can see : it will be June 28, 2019 at 2:00:00 PM.

What’s next ?

New name, new expiration date but business as usual. Say hi to XBTU19.
If you followed this article, you understand that XBTU19 is a new future contract, already available (since March 15, 2019) which will expire in September 2019.
Now for your general knowledge : « BitMEX uses the following industry-standard month codes to name its instruments. These are the same as those used on NYMEX, CME, and all other major derivatives exchanges. When present, the month code signifies the delivery month of the future. »
F (January) / G (February) / H (March) / J (April) / K (May) / M (June) / N (July) / Q (August) / U (September) / V (October) / X (November) / Z (December).
Hope you learned something ! ✅
PS : from now on, all the trades that will be launched on our channel will be on the new futures contracts.

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