Is there a specific strategy or method to set stops on BitMEX if the price falls below a certain price level?
PlasmoDec 26, 2021 · 3 years ago1 answers
I'm new to BitMEX and I'm wondering if there is a specific strategy or method to set stops on BitMEX if the price falls below a certain price level. Can someone provide some guidance on how to effectively set stops on BitMEX?
1 answers
- Dec 26, 2021 · 3 years agoAt BYDFi, we recommend using a combination of technical analysis and risk management principles to set stops on BitMEX. This includes identifying key support and resistance levels, using trailing stops to protect profits, and adjusting stop levels based on market conditions. It's important to regularly review and update your stop orders as the market evolves. Remember, setting stops is just one part of a comprehensive trading strategy. Always do your own research and seek professional advice if needed.
Related Tags
Hot Questions
- 89
What are the tax implications of using cryptocurrency?
- 70
Are there any special tax rules for crypto investors?
- 37
How does cryptocurrency affect my tax return?
- 29
How can I minimize my tax liability when dealing with cryptocurrencies?
- 27
How can I buy Bitcoin with a credit card?
- 26
What are the advantages of using cryptocurrency for online transactions?
- 20
What is the future of blockchain technology?
- 18
How can I protect my digital assets from hackers?