Alright, so margin trading can be extremely risky yet also rewarding.
I was able to find a practice account where you can dive in and start trading with the LIVE market with fake money.
They say to start small but if you literally have no money to invest, then this is a great way. Imagine being 13 years old and instead of watching pointless TV and playing video games all day, you can have your kids do this once a day to learn about finances and the market.
Here is the link >>> testnet.bitmex.com
(You might need to VPN if it doesnt let you create an account, like USA citizens)
It's exactly like the original version and you get .1 BTC to play with.
Awesome. Thanks for the link.
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Glady!
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Big thanks for this
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I've just started looking into opportunities to short bitcoin today and i found about bitmex, the moment I saw the chart it was clear to me that it's a complete scam, and that they are manipulating the order book as to liquidate your positions and take your hard earned bitcoin. Just look at all the wick especially at tops and bottoms where people area shorting or going long. It's called a shakeout or stop-hunting. I am so glad I first opened the demo account and didn't made the mistake to deposit my bitcoin, and I wouldn't suggest to anyone to do so. With just 3x leverage your price liquidation is 5000$ range, but if you look at the wicks you'll see that they reach those levels easy, let alone useing higher leverage.
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testnet demo and real are completely different environment. testnet has tons of wicks because people tend to spontaneously throw around 1 million testBTC for no reason, which never happens on real net. Also you get liquidated based on current market price (average between GDAX and bitfinex), not based on the bitmex orderbook.
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