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    [Daily Discussion] Thursday, February 06, 2020 Bitcoin Markets

    February 06, 2020

    [Daily Discussion] Thursday, February 06, 2020 Bitcoin Markets

    [Daily Discussion] Thursday, February 06, 2020

    Posted: 05 Feb 2020 08:04 PM PST

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    [Altcoin Discussion] Thursday, February 06, 2020

    Posted: 05 Feb 2020 08:04 PM PST

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

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    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
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    A couple questions by a complete beginner.

    Posted: 05 Feb 2020 06:19 PM PST

    I have no idea how most of the actual trading works in crypto, but have held some coins/tokens for the last two years. I am interested in potentially started to trade and had a few questions.

    1. Why do most traders that I see trade alts against BTC? I could understand if they are less liquid coins with no USD pairs, but even ETH, LTC, XRP, and others are always getting traded against BTC with all the talk about gaining sats. Is there an advantage do this compared to trading against USD? Is it just the fact that people want their profits in BTC?
    2. How do all these twitter and reddit traders even margin trade at all with the biggest sites like BitMex and Binance (Main site with margin) banned in most large countries (U.S, Canada, Japan, etc)?
    submitted by /u/Blur93
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    Brand new to margin trading, really trying to figure things out. Can someone tell me what is wrong with this scenario please?

    Posted: 05 Feb 2020 10:59 PM PST

    Say I had $1000 worth of BTC and wanted to trade it against USD at a 25x margin.

    I want to lose a max of 2% of my overall stack, or $20.

    If I'm understanding correctly, I would set a stop loss at -.08% of my buy in price, right? (25x.08=2%)

    But, if BTC were to go up 3%, and I then exited, I would be making 75% (25x3%) on my $1000 ($750)?

    This seems too good to be true, in that with a 2% stop loss at 25x margin 1 successful trade would easily beat out multiple losses. I hope I am right here, but I doubt it. Everyone would be rich if this was the case.

    So where did I go wrong? What am I not understanding? Literally just started looking at margin today, so please hold back on me a tiny bit.

    submitted by /u/Blur93
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