How does leverage work on BitMEX and what are the best practices for using it?

1 answers

• Dec 29, 2021 · 3 years ago
  At BYDFi, we understand the power of leverage and its potential benefits for traders. When using leverage on BitMEX, it's important to remember that it can be a double-edged sword. While it can amplify your profits, it can also magnify your losses. Therefore, it's crucial to have a well-defined risk management strategy in place. This includes setting stop-loss orders, diversifying your portfolio, and not overleveraging your positions. It's also recommended to start with lower leverage levels and gradually increase it as you gain more experience and confidence in your trading abilities. By following these best practices, you can maximize the benefits of leverage while minimizing the associated risks.
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