Question about losing money on margin trading with BTC

Crypto Exchanges
1

I used 470 USDT to buy BTC/USDT with 10x leverage at 63346. The price went up to 63420, I sold, and I’m still in the red. Can someone explain this to me

2

You sold for a 0.25 percent gain. That’s very small, so with 10x leverage, you probably lost more in fees

3

Kase said:
You sold for a 0.25 percent gain. That’s very small, so with 10x leverage, you probably lost more in fees

How can I actually make a profit with margin trading

4

Dar said:

Kase said:
You sold for a 0.25 percent gain. That’s very small, so with 10x leverage, you probably lost more in fees

How can I actually make a profit with margin trading

Looks like you found a way to lose money

5

Dar said:

Kase said:
You sold for a 0.25 percent gain. That’s very small, so with 10x leverage, you probably lost more in fees

How can I actually make a profit with margin trading

Just don’t sell when the price goes up 0.25 percent

6

@Kase
Unless you’re using 100x leverage, then it might work

7

@Kase
I lost 4 USDT when I started the trade and my PnL didn’t change even when the price went up. What do I need to do differently to make a profit

8

Dar said:
@Kase
I lost 4 USDT when I started the trade and my PnL didn’t change even when the price went up. What do I need to do differently to make a profit

Profit means making more money than you lose. Exit with more than your fees. You can’t profit on a 0.25% move. You should read more about margin trading before doing it for real. Check out Investopedia and practice on paper trading before using real money

9

You really shouldn’t be doing that. Why set your take profit at just 0.25%

10

This post shows one of the worst trading strategies I’ve seen

11

Your fees are likely higher than your profits

12

A 3.5% move usually covers your fees. If not, maybe try a different exchange

13

If you could profit from such small moves, you could just keep opening and closing positions. But the bigger your position, the higher the fees. You need at least a 0.5% gain on the asset to make it worth it. Some platforms show your realized loss when you open a position. I recently opened a long on Kucoin and saw my realized loss was $7, so I set a stop loss to ensure I didn’t lose more. I ended up closing with about $80 profit when the price started to drop

14

This is what I call margin trading fail. Wow, this forum never disappoints

15

Every exchange has different fees. Check your trade history to see how much you paid to open and close your long position. You’ll only profit if your gains are higher than the total fees paid

16

vertcoin.org, BTC software, only GPU mineable, 84 million coins ever, do the math yourself

17

You paid more in fees. You need to make at least 0.5% moves with 10x leverage. Have you tried setting up your trading account with coinmarketman.com? It helps you see your analytics better and shows your fees for each trade

18

I pay around 3.5-4 USDT hourly on my borrow amount. Before my trade, I calculated my profit and it showed a PnL of 1.25%, which I didn’t see reflected anywhere

19

Dar said:
I pay around 3.5-4 USDT hourly on my borrow amount. Before my trade, I calculated my profit and it showed a PnL of 1.25%, which I didn’t see reflected anywhere

Why trade on margin to make just $6? Do you know your buy/sell fees? What about the spread? Is there a minimum fee for borrowing? You should practice trading with your own money before trying to trade with others or you might lose more than you expect