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Offline johncitizen

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Help with trading BitUSD/BTSX
« on: August 26, 2014, 01:09:58 PM »

Ok so I am looking at the market and thinking the current moment will be a nice entry to go long on BTSX.

I have my BTSX loaded in the bitsharesX client. What is the best way to profit from a rise in the BTSX price?




« Last Edit: August 26, 2014, 04:04:04 PM by johncitizen »

Offline Markus

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Re: Help with best trading strategy BitUSD/BTSX
« Reply #1 on: August 26, 2014, 01:18:33 PM »
Well in theory that would be shorting bitUSD. Although because everybody seems to think the same bitUSD is currently trading about 15 % below parity.

Offline johncitizen

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Re: Help with best trading strategy BitUSD/BTSX
« Reply #2 on: August 26, 2014, 03:52:19 PM »
So I opened up short positions @ 23.75 and 24.1782 of 1200 and 1100 BitUSD.

I think BTSX is about to start increasing in value.

Open Orders
TYPE   PRICE (BTSX/BITUSD)   QUANTITY (BITUSD)   COST (BTSX)   COLLATERAL (XTS)   ACTION
Short   24.1782   1,100.00   26,596.02              Cancel
Margin   31.6667   1,199.9997      57,000.00    Cover

I doubt the 24.1782 will fill.

But I notice the cover option I can click on to cover the short position. Can somebody explain this feature? How exactly do I close the trade and make a profit/loss?

Can anyone explain what happens here?

Thankyou  :D

Offline johncitizen

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Re: Help with trading BitUSD/BTSX
« Reply #3 on: August 26, 2014, 04:45:01 PM »
Update:

Open Orders
TYPE   PRICE (BTSX/BITUSD)   QUANTITY (BITUSD)   COST (BTSX)   COLLATERAL (XTS)   ACTION
Short   24.1782   4.9632   120.00112             Cancel
Margin   31.6667   1,199.9997      57,000.00    Cover
Margin   32.2376   1,095.0368      52,952.03776    Cover


Offline hadrian

Re: Help with trading BitUSD/BTSX
« Reply #4 on: August 26, 2014, 07:23:21 PM »
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline fluxer555

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Re: Help with trading BitUSD/BTSX
« Reply #5 on: January 30, 2015, 04:32:07 AM »
What happened to the newbie-link feature of this forum?

Offline svk

Re: Help with trading BitUSD/BTSX
« Reply #6 on: January 30, 2015, 07:12:22 AM »
Haha the text is hilarious, a nonsensical story about biking full of errors and phrases that mean nothing :)
Worker: dev.bitsharesblocks

 

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