Thanks polo

how do you do this?

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>>2179031
Fuck wrong pic, that was from a while ago.

>>2179057
What am i looking at?

Too many horror stories of this shit not working and people losing tons of money.

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>>2179123
A long position i took out in XRP when it got dunked down to 1000 sats. Margin trading.

My current position. That's 1.3btc profit in 20 minutes because dumbasses have weak hands and were willing to sell to me for 1000 sats.

>>2179349
It's not a short position, Im long. The only way it could be a "horror story" is if XRP literally went to zero. In which case the MAX i could lose is 8btc

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>>2179373
>>2179392
so if you "long" a coin on polo, that's margin trading? what's it called when you "short" a coin? do you set a certain price that you predict the coin to arrive at, and that's when you make gains? who are you making these gains from?
pls I need a quick rundown

>>2179392
I mean it technically not working. Like the site not working when they really need to cancel.

>>2179415

Margin trading is using your own collateral to borrowing funds to take up a "position". You're position can be either long (you borrowed money to buy stock/coin) or short where you borrow the stock/coin and sell it with the intention of buying it back at a lower price.

So on polo I've used my ETH and LTC holdings as collateral to borrow against. I've borrowed BTC from someone and then bought XRP at 1000 sats. I'll then close my position (sell that xrp) for profit and pay back the lone. I keep the profit.

It's a means of trading without having to actually front more money. So say you have no more dollars. You used all your savings to by ETH, but you think LTC is going to rise soon as well. Instead of having to find more cash, you borrow BTC against your eth and buy LTC

>>2179514
ok that makes a lot of sense, thanks bro

I guess the only question I have left is how much time you have before you need to pay the lender back?

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Want to help a no coiner out?
Please?

>>2179573
Depends on the duration the lender set. On polo it can be from 2 days to 60 days. About 90% of the loans are 2 day loans, when they expire Polo automatically finds a replacement.

The trap is, polo will use whatever is the cheapest available, which could be well above your original loan rate. So its best to check it every day or two and see if you got cucked by an outrageous lone rate.
If that does happen, if you close (sell) a small % of your position, polo will pay back the most expensive loans first for you. Then you can replace that bit of your position by manually buying back in at the rate you actually want.

Example: You have 10btc worth of loans taken out. Polo refreshed 1btc worth of those loans with a high rate. So, you sell 1 btc worth of your position and that high rate loan is cleared. You then buy 1btc back but at the minimum loan rate you actually want. You position is back to where it was, but that shitty loan rate is gone.

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>>2179768
thanks man, I have a bunch of ETH, so I may try it out

have this rare misprint pepe as thanks

>>2179848
Be careful, it's not for weak stomachs and don't over-leverage yourself. Polo lets you borrow 2.5 times what you have as collateral. I advise against leverage in crypto markets. So if you put in 10btc worht of ETH, it will lets you borrow 25btc. Don't. Be sure of exactly how much you're borrowing when taking up a position.

Also don't take up a full position at a single price. The market is so volatile it can dump real quick. I've found the best way is incremental buys, leaving yourself room to average down if something dropped further than anticipated.

>>2179768
thanks for posting this. I have a retarded loan rate. I'll try it, and take some profit maybe. It will reduce some risk and stop a small bleed. on the other hand, if my trade goes well it will far exceed any problem with a loan rate.

>a bunch of people on /biz/ get into leverage margin crypto trading
Lol this won't end well

>>2179921
Yeah I can't stress this enough.

Do NOT over-leverage yourself when margin trading. As a rule i treat it like a tiny little booster, maybe 20 at most%

Do NOT leverage AND short. You deserve to lose everything if you do this. In fact, just don't short. It's not clever, you aren't a loan wolf and it's more fun to be cheering on a coin than wishing for it's death.

I don't understand anything