[BitMake] $230 in 5 Minutes Trading The News
Leveraged Trading With BitMake
Disclaimer!!! The articles that I write are merely a journal of my investments and by no means financial advice(s).
The long-awaited U.S inflation data has been released following an interest rate hike of 0.25% last month to 5%. Interest rates are at an all-time high since 2007 as concerns of inflation begin to spread. Yesterday’s expected inflation rate came down to 5.0%, better than the expected 5.2%, from 6%. As a result, risk-markets rallied for 5 minutes before pausing to assess the situation correctly. Bitcoin ran from $30,000 to $30,430 within 5 minutes but quickly erased all its gains after 3 hours. Investors began to realize that Core Inflation was more important to look at. In fact, Core Inflation increased 0.1% MoM.
As part of my strategy to trade the news, I placed a stop limit order to buy at $30,150 and closed the trade within 5 minutes, at $30,380. This resulted in a $230 profit per Bitcoin. Within 5 minutes.
If I had a 10x leverage, profits would 10x as well, from $230 to $2,300. How would you like to make $2,300 in 5 minutes? I would.
For this example of leverage, I will use the centralised exchange BitMake.
BitMake
BitMake is a developed trading platform that specializes in cryptocurrency derivatives trading for professional traders. Its range of services includes spot, spot margin trading and futures trading with wealth management lending/borrowing tools. The team behind the platform is composed of experienced veterans from the cryptocurrency industry, who have been instrumental in ensuring its smooth operations since its inception.
Unified Trading Account
One unique feature that stands out for BitMake is the Unified Trading Accounts (UTA) feature. This feature allows traders to use multiple currencies as collateral for Spot (margin) and futures trading to fully maximize capital utilization. This gives the ability to trade multiple currency types, conduct lending/financing, and execute spot and futures trading, all within one account. Users benefit from improved efficiency and reduced liquidation risk. This feature also eliminates the need for cumbersome fund transfers.
Step 1:
Register here.
Step 2:
Click “Borrow” on our left pane. Enable “Spot & Transfer” and adjust our “Margin Leverage”. Mine is currently at 10x.
Step 3:
There are 2 ways to borrow; via Margin Trade or Borrow Transfer.
Method 1 (Margin Trade):
Simply proceed to our Spot Trading tab. Tick the “Margin” box. This will automatically activate our leverage. This is the simplest method.
Method 2 (Borrow Transfer):
Tick “Borrow” when transferring from Trading Account to Wallet Account.
Note:
*The maximum borrowing amount is determined by our account principal and leverage.
*Under the Borrow tab, we can also see the current annual rate of borrowing — interest.
Step 4:
Of course, like all loans, they have to be repaid. There are 2 methods.
Quick Close: On the Borrow page, click on “Quick Close”.
Manual Closing: Recharge the financed currency or buy it in the spot market. This will activate the system for an automatic repayment.
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