Mex Assistant for BitMex for Chrome
More About Mex Assistant for BitMex
➤ Place up to 50 scaled orders with a single click
➤ Compatible with the BitMEX Testnet and Mainnet. So you can do dry runs in Testnet first and learn how to use it before using it on your main account.
➤ Lets you reduce your losses while increasing your gains by scaling in and out of your trades like a PRO.
➤ Saves you hundreds of hours of data entry per year.
➤ This is a Chrome extension that works 100% locally on your computer. We know nothing about your trading or how or where you use the extension.
➤ We only use your email to communicate with you about your subscription. Nothing else. No spam, no re-selling or other funky business. Privacy and security are our top 2 priorities.
★ What is the MEX Assistant? (formerly known as BitMEX Assistant))
The MEX Assistant lets you place up to 50 orders with a single click. You can spread your buys/sells over a range, giving you the ability to scale in and out of positions. This reduces the amount of times you get stopped out and it increases the profits you're able to take. This is a PRO trader tool that BitMEX doesn't want you to have because they make money when you lose a trade.
★ How do I use this?
1. After downloading the extension,
2. You'll be guided through the signup process where you'll create an account and pick a subscription. After that, you'll be able to use the extension as follows:
3. In “Settings” choose whether you want to use Testnet or Mainnet
4. Pick the coin you want to trade under “Instrument”
5. Input the price range in which you want to buy or sell
6. Input the amount of contracts you want to buy/sell
7. Input the amount of orders you want the Assistant to place for you. Any number between 2 and 50.
8. Click “Preview” to preview all the orders, their exact price and amount before you place them!
9. Click “SUBMIT” to place all the order, exactly as previewed, with a single click
★ Why use the MEX Assistant?
You spend money (aka bitcoin) on BitMEX. You spend time analyzing charts, reading Crypto Twitter, coming up with trade ideas and then finally you spend time inputting those trades into BitMEX.
What's the problem? Well, you have to input EVERY SINGLE ORDER one by one! That's crazy! That's ok if you only ever have ONE entry point and ONE exit point. However, if you look at how profitable traders trade, they trade ZONES: They scale into a position and then scale out of that position (take profit). That always happens in ZONES. In order to trade zones, you need to enter multiple orders. But who has time to enter 10, 20 or 50 orders over an entire zone? And then another 10, 20 or 50 orders in the take profit zone? That's up to 100 orders just to do one trade. Just think how long it takes to enter 100 orders, one by one...
The MEX Assistant lets you enter up to 50 orders with one click. Placing orders over a RANGE becomes a matter of a few seconds. You'll save hundreds of hours per year that you could spend analyzing more charts or simply living your life, instead of wasting it with tedious data entry.
Stop trading like a pleb, start trading like PRO.
★ How do I get updates?
Updates are shipped automatically, in the background. You don't need to worry about a thing.
★ Do you round prices/contracts? And if so, do you round up or down?
Short answer: Yes we (have to) round prices/contracts. We round down. You'll never spend more than what you defined in the Assistant, only less!
Long answer: Representing a rational number with an irrational number always comes at the cost of rounding errors. This is not a bug, but a fundamental arithmetic and memory constraint due to the fact that real numbers (which have infinitely many digits) cannot precisely be represented with finitely many digits (and memory) in decimal form.
Example: Say you want to buy 10,000 contracts of XBTUSD. Your buy zone is $1,000 - $1,100 (God I wish I could buy Bitcoin that cheaply!!). You want to place 30 orders. Since BitMEX only allows to buy with a precision of 5 cents (e.g.$1000.05), the Assistant needs to round the amount of contracts down. Concretely, this means that the Assistant will place 30 orders, each order with a value of 333 contracts, which means that only 9,990 contracts will be bought instead of the 10,000 contracts that you wanted to buy.
The rounding errors are small. Always click “Preview” in the Assistant interface to see if/how the rounding of your orders are calculated, before submitting them to BitMEX.
★ Are there any usage limits?
Not from our side. However, BitMEX does impose limits (see https://www.bitmex.com/app/restAPI#Limits). The most relevant limits are:
- ~3,000 order placements/cancelations per 5 minutes
- Maximum 200 open orders per contract per account
- Maximum 10 stop orders per contract per account
- Accounts with too many open orders with a gross value less than 0.0025 XBT each will be labeled as a Spam Account. Unfortunately, BitMEX does not define how many is “too many”. Learn more about being labeled Spam Account here: https://www.bitmex.com/app/restAPI#Order-Minimum-Size-Limits
We strongly recommend staying within these limits.
★ Who are you guys?
We're the tech division of a crypto startup. We're here to give retail traders the tools they need to trade like a PRO.