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JamesIG

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Ermmm. Not quite. Certainly not all the time. They turn it off quite regularly when demand and volatility are high. Sadly that is precisely the scenario people want to take advantage of!

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Hi -  - I appreciate the frustration in not being able to trade this BTG coin, and I want to confirm that we would of course like to offer this as a tradable asset as long as it's possible to do so, and the underlying technology is safe.  At the moment the exchanges which we deal with are yet to list it. Although some exchanges are trading this particular coin they are generally in China and S.Korea, or on exchanges which don't offer fiat withdrawals or trading pairs. We will keep all clients updated as best possible. 

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Guest n1te1337

Hi , 

 

Just out of curiosity, could you please give a few thoughts on when a CFD (any crypto in this case) could become unavailable to trade (or open buy)?

 

I'm sure there is a good reason, just looking for some clarity.

 

Cheers

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  • 3 weeks later...
Guest ahsiong

Is it possible to hold both long and short position in a particular cryptocurrency?

For example, if I've some existing long position in ether, can i open new short position? Will doing this close my long position?

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ahsiong wrote:

Is there any tools/app/calculator to determine the margin required and profit/loss for my position at different price level?

Hi - unfortunately we don't have this on offer, but you should be able to set something up in excel using the following information.

ahsiong wrote:

Is it possible to hold both long and short position in a particular cryptocurrency?

For example, if I've some existing long position in ether, can i open new short position? Will doing this close my long position? 

This is possible and you should be able to read more about that here: Force Open

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Guest ahsiong

Hi James thanks for pointing me to the relevant answers and for always helping us in the forum.

 

It's stated "You can open a long and short position on the same market by making sure the ‘force open’ option is selected on your deal ticket". I can see the force open option on my new trade tab. However there's no such option on my new order tab. So how does it work if i want to put in a new order in the opposing direction? I certainly don't wish for my existing position to be closed if my new order is executed.

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Guest ahsiong

Hi Trendfollower, thanks for your long answer. I've always enjoyed reading your detailed analysis and insights in your posts.

 

I've some long position in ether which i opened at quite a low price which i intend to hold for long term. I observed although ether may be in a uptrend, there's always volatility in the market in which there may be time of price weakness. Hence i was thinking of opening short position in such times to gain some profit in the shorter term.

 

I'm a new trader. Hope to hear your opinion on my thoughts and strategy. Thanks.

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Few things,

 

Be careful if you are going short whilst also going long. If you open a short position and the market becomes unlongable then you will not be able to close the short as closing it means to go long. You may be stuck in a short position and give back all your profits.

 

Personally I sold all my ethereum long positions end of last week. Brazil, Korea were all talking about banning cryptocurrency exchange. If this is happening then generally people will be profit taking or selling ethereum. A better strategy could be if you are thinking long term that the price will rise then wait for the correction and add to your position at support when the trend is reversing back up.

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I have only just seen ethers chart. To add to my earlier comment I would be weary about keeping hold of long positions unless they were bought very early on. And now ether has become unborrowable so you can not short the market. Likely because everyone is shorting and therefore ig has reached its risk limit.

 

There is a chance price can keep dropping so you could be giving profits away and if you are stopped out then out with breakeven. Remember if people bought ether at lower prices away and price drops they'll sell or hold. Its unlikely that the majority will buy more especially while waiting for korea stance on cryptocurrency.

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Guest ahsiong

Thanks Situation for your analysis.

Yup I'm holding some ether position which i bought earlier on. It's a pain to see the unrealised profit eroding away while the market correct but I'm still holding on to them as i believe in the long term uptrend. The sell off earlier on in the Asia morning was scary but luckily the bounce up was quick too. Hopefully it'll be generally up from now on, at least in the short term.

 

I was considering to open short position when it reached the peak of about 1400 a few days ago which i felt was too overbought, hence i asked the question of holding both long and short position in this forum. Thanks all for your wonderful analysis and suggestion. It has been useful to build up my trading knowledge.

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Its going to difficult to call the direction now. There was a lot of buying from 7 to $800 so will have to see what those people do. Will they hold or will they sell. Shorting this market was a good idea and probably still is but you don't want to get caught out in a period of being unlongable. If we didn't have that problem I would be short myself.

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