Trying out Crypto Derivatives!


Over this weekend, I decided to try my hand at the derivative trading up on [Bitmex]( for the first time. I have been dabbling away for quite some time at the unleveraged markets on [Binanace](, [Poloniex]( and [Kucoin]( which has been an interesting learning experience as I’ve never done any trading before in my life. So, at the first, there was quite a bit of a learning curve as I learnt the tools and the words that went with the field. It wasn’t too much a difficult thing to learn, however, learning the trading instincts and gaining the courage to hold your position and learning when to quit a losing position were much more difficult lessons to learn!

Leveraged Derivative trading is a completely new beast altogether! Learning how the derivatives settle and how the leveraging works, and learning the dangers and advantages of using both ideas has been quite an experience. So far, I’m only risking a tiny tiny amount to learn the ropes, and I’ve seen some beginner’s luck so far. Although my last two positions seem to have run into trouble, but I’m far from being liquidated, so I guess I just will hold tight and not panic! Well, the tiny amount at risk helps with the not panicking!

[Poloniex]( also had a Margin account, but I was always too scared to try it out as I could see that the losses could rapidly get out of control. That said, [Bitmex]( does limit your ability to enhance your leverage so that your losses are maximised to the amount that you have in your account and nothing more. So, as long as I remain disciplined and keep only what I’m prepared to lose in there (which is very little at the moment) then there is no problem whilst I learn how all the bits and pieces work.

That said, my first experience so far is that it appears to be a much faster (even faster than direct crypto markets) market to participate in. Luckily, there seem to be quite sophisticated tools that can help with making decisions and staking out positions. But, not for the faint of heart!


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