altcoinbonanza
Short

Successful Meter Drop short

BITFINEX:BTCUSD   Bitcoin / Dollar
56 4 1
I went with sellers entering and a violation of my support and the result was what I expected. I made a small profit what I call a meter drop play.

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johnrfraser
2 years ago
Hi altcoinbonanza.
With finex fees of .2%, the buy & sell trade costing .4% total, at this price level break even requires a move of nearly 2 dollars...how have you profited from this trade?
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altcoinbonanza johnrfraser
2 years ago
My profit was a very small amount. I am not trying to make a killing but trying to get used to this market (used to trade options years ago and now Bitcoin has inspired me to get back into this marklet) but not making big money moves. Even if my profit was very small $0.50 cents, $1+ then I know I am making the best calls I can make and when I am more comfortable I will make deeper money plays. So even on a meter drop with Bitfinex fees I will still turn out a nice profit because my leverage will be greater.
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JeroenHouttuin
2 years ago
Nice microwave surfing, but hardly worth the exchange fees, especially when considering the risk.
Reply
altcoinbonanza JeroenHouttuin
2 years ago
Yes but the experience is priceless! Even if small gains these are what make for greater gains in the future. You can't eat an elephant with one byte but many.
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