BitShares Forum
Main => General Discussion => Topic started by: johncitizen on August 26, 2014, 01:09:58 pm
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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?
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Well in theory that would be shorting bitUSD. Although because everybody seems to think the same bitUSD is currently trading about 15 % below parity.
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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
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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
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Is this https://bitsharestalk.org/index.php?topic=7656.0 (https://bitsharestalk.org/index.php?topic=7656.0) any help?
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What happened to the newbie-link feature of this forum?
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Haha the text is hilarious, a nonsensical story about biking full of errors and phrases that mean nothing :)