Moving from BitMEX to Binance for margin trading...
I switched from BitMEX, where I used to trade on margin, to Binance. On BitMEX, I could only trade BTC, and I also felt like a bear market might be coming soon.
GGAMI·
I switched from BitMEX, where I used to trade on margin, to Binance.
On BitMEX, I could only trade BTC, and I also felt like a bear market might be coming soon.
I’d already developed everything from API-based hotkey trading to safeguards on BitMEX, so... I spent a lot of time wondering whether or not to switch.
At first, I moved to Bybit (because it rebates limit-order fees just like BitMEX).
But Bybit just wasn’t an environment where I could scalp at all.
So in the end, I followed Wongu-hyung and came over to Binance.
Trading on Binance with isolated margin at 15x has made things much easier.
I’m setting rules so I can trade while keeping my win rate as high as possible.
Well, even so, it’s a fact that with margin trading, you’ll eventually get liquidated when you reach that point.
Most recently, I was trading with around 900 on BitMEX.....
On Binance, I started with 100.
My win rate hasn’t been bad. It’s good. (Much better and more stable than when I was on BitMEX.)
In particular, having it fixed at 15x (I plan to lower the leverage later...)—
I think the “isolated” system is absolutely the best.
With this isolated system, it seems like you can adjust a lot of things, starting with your average entry price.
The downside is that there are fees on limit orders....
But since my win rate is better than the fees, I can’t really complain.
Still, I’m trading with a small amount for now, so the fees aren’t a burden, but I think they’ll start to feel like a waste once I’m taking on more contracts than I expect.
And... additionally, Binance isn’t as good an environment for scalping as BitMEX, either.
I think I’ll just have to trade in a range, gradually taking profits with longs and shorts...
And I’ve come to think that it’s still best to go to BitMEX for scalping.
Anyway,,, once I get the work I’m doing now somewhat sorted out, I’m thinking of building hotkey trading functionality on Binance using its API, too. So I can make it trade with limit orders rather than market orders as much as possible!
Everyone else is making a fortune with altcoins... while I’m busy doing this and that and not making any money. What am I even doing......
