admin Leveraged margin trading is a thrilling way to gamble, with 100x available on Bybit, if you catch the market right you can see insane gains in a matter of seconds.
Open an account with Bybit
Signing up through my link will grant you an additional 10% Trading Fee Discount for a month.
You will also be entitiled to all the usual 1st time deposit bonuses and ongoing vouchers available in the rewards hub. The rewards hub will offer great cash bonuses for performing simple tasks on the bybit platform.
Bybit offer some great freebies for new customers.
Margin trading is not easy to do – but it’s a lot of fun and very rewarding when you catch it right.
Of course you don’t have to use 100x leverage, most people don’t recommend it, however, that’s the way I do it and there are some good arguments for using the maximum leverage – the potential gains are of course as high as possible and the losses you make are less on a stop loss from a 100x trade – than from a 10x trade.
Imagine pinning the bottom of the price of Bitcoin with 100x leverage and watching it rise and rise for months. If you can manage to do that you will surely make a huge amount of profit.
Buying some Bitcoin
To be able to get started with this you need to buy some Bitcoin. You can’t buy Bitcoin on the bybit platform, so you need to get some first and send it into your account. Coinbase.
Setting Stop Losses
If the market goes in your favor thats great, if it turns on you, you are at risk of losing your entire balance very quickly (liquidation price). For damage limitation of this you need to set a stop loss.
15% or 25% stop loss is a good base point or just type in the field to set a custom one. This window will appear after you have clicked the buy or sell button and will allow you to finalize your settings before the trade is executed.
It is unlikely you will get a good 100x trade in the first time and so allowing for losses before you can get a good live trade is all part of the process.
Limt Order Vs Market Order
Limit order, specifiy the price, is recommended as opposed to Market orders where your trade will execute at the current price. Trading fees and also stop loss trigger losses can be different for each type. Occasionally, if the market is racing up then you will need to use the market order for effective results, limit order is usually best.
Keep your balance low at first
I would recommend using small deposits frequently. Even though you should be using stop losses for damage limitation, having only a small amount in your account at any one time will protect you from making mistakes and losing the whole lot. Getting effective results with this takes some dedication and patience.
Keep your eye on the assets you think have the potential to move up and down and dive into your account and start making the trades when the conditions are good and you can see great gains from leveraged trading.
Bybit offers a lot of tokens and features for leveraged trading and buying and selling cryptocurrency in general, it has its own token and offers many airdrops and rewards for loyalty when you interact with the platform.
