Margin
Last updated
Last updated
The Bitfinex Single Margin module is a type of Trade Bot that allows Haasbot users to take advantage of leveraged trading. The main difference between the Bitfinex Single Margin and Bitfinex Double Margin is that the Bitfinex Single Margin will only open and close one type of leveraged trade (either a long or a short).
It is generally recommended that if you decide to only open and close shorts, your collateral should be in fiat. Alternatively, if you only want to open and close longs, your collateral should be in the cryptocurrency you are trading. Remember, this will only generate Longs or Shorts, not both. You can only have one position open per account as well, so it is highly discouraged to try to create multiple positions within one bitfinex margin account.
[hide]
Settings
As for setting up the Trade Bot for Bitfinex Single Margin trading, you select the Indicators, Insurance, and/or Safeties as usual but you have to select which leveraged position you would like to take. Your options are the following:
Open Short or Close Existing Long
Open Long or Close Existing Short
Classic Interface
Haasbot 2.0 Interface
These options work as they are described. Basically the way this works if that say you decided to only create shorts. You will go ahead and select "Open Short or Close Existing Long" and if you have an existing long open, it will close it on a Sell Signal (from the Indicator or Safety you have set up) and then it will immediately open a short on that same Sell Signal. When a Buy Signal is signaled, it will close the short and wait for the next Sell signal to create a new short. The opposite is true if a user selected "Open Long or Close Existing Short." Where Buy Signals will create Long positions and Sell signals will close longs.
