How to become a millionair by margin trading on bitmex?

Okay, First of all, let me say that if this comes up in your mind after finding out about bitmex, you're totally wrong and you're going to lose MOST and probably ALL OF YOUR money.

Unfortunately, It happened to me!

Now I come here to share my experience on what happened to me, as you all know bitmex has become so popular lately between traders, and when I find out about it, I said Wow that's where I'm going to make my first $1m.

I find it so easy to make money, but the problem is GREED, I couldn't control that. Otherwise yeah I was going to make my first million.

Long story short, I lost $ 150,000, and it was 70% of my portfolio.

First of all, you should understand that bitmex has all the features to get you REKT (to get broke), or even make you rich in a short amount of time, so you have to be careful on how to use it.

How can you prevent that and instead make money out of it?

1. Learn all the features and interface of bitmex. Unfortunately, there is no good tutorial about most of the features, so you have to use your actual money to learn it. but you can learn them by just using a small amount of money. And asking others or just simply search the web. (You can also use bitmex testnet)
2. Don't send all your money to bitmex, before trying it for at least two months, only 5% of your money is enough.
3. Don't use more than 25% of your bitmex balance on every margin (which is 5% of your whole portfolio).
4. Don't use more than 2x or 3x leverage in the first month. Even if you are making profit on 100% of your marign trades, Don't do it.
5. Don't follow others blindly, It is not easy to become a millionaire, but it is easy to get REKT and lose all your money, so instead, go learn some TA (Technical analyses) and do some RESEARCH before opening a position.
6. Withdraw profits instantly. I know you must've been thinking: Yeah, I make two BTC profit, and I do 50x on that profits and double them and blah blah blah, these all bullshit, It ain't gonna happen unless you are a damn lucky bastard. Withdraw the profits instantly, or you'll lose them. After trying bitmex for a significant amount of time, You can consider adding some more money.
7. The hardest part of the game is controlling your greed, yeah you can open a position up to 100x of your balance, but it doesn't mean that you have to do it.

RULES:

Don't short the dip, DON'T FUCKING DO THAT If you saw BTC dumped from $11,000 to $10,000. You may tell yourself, yeah it is going down let's short it. But you're wrong, and it's too late, You had to short it at $11,000 so just watch and wait for a bounce if you're sure that it is going down, because it will most likely bounce after each dump.

Don't long the top, yeah, this is the same as previous rule, You may see bitcoin pumped $1,000 and tell yourself oh yeah it is going higher, let's open a long position and make money, NO, Fucking no, You're about to get REKT.
YEAH, it may go higher, but longing the top is PURE FUCKING GAMBLE. There is ALWAYS another opportunity to long or short bitcoin, so be patient.

So, always short the green candle, and long the red candle, You'll be SAFER (not blindly, based on some TA).
Price entry for opening a position MATTERS A LOT, so don't decide based on market reactions or Gdax order books, If you're sure it will dump, then short at the top, don't wait for it to dump and then short, because it may bounce and you'll probably panic and close your position.

This guide is for beginners, That would be great if you also share your experience in the comments.

(There might be lots of gramatical problems, I'm improving them, sorry)