I signed up to BitMex when Bitcoin was around 9200. Learned their platform and got the general idea and shorted Bitcoin at 9,000 with a 25x leverage. So basically whatever amount I shorted, in my case 0.025 BTC, the site let me "borrow" 25 times (you can do up to 100x, but thats very risky and scary!~) which was 0.625 BTC in total that I was shorting. Since it went down until today about $900 total, my profit was slightly over $500 when I closed at just under $8,100.
My Experience: Beginner's Luck
There are scary moments where you can get liquidated. Every time you make a trade with leverage, it gives you your liquidation amount based on the leverage and entry price (higher the leverage, the closer your liquidation price is to your entry point). I did not know how to use the stop loss (now I do) and there were moments when I was literally a few dollars from getting liquidated. (And the stupid Rekt Bot almost announcing it lol.) Almost! It was pretty crazy, until it finally kept going down and had a lot of breathing room. I don't think I'll do more than 25x leverage, maybe go down to 10x.
Bitcoin seems to follow trends quite often. Follow the trend.
If interested, sign up to BitMex here:
https://www.bitmex.com/register/S1B8p6
<3 msesther
*I am just sharing my experience and not giving financial advise.