What are the options for setting a stop loss after a market trade on BitMEX?

3 answers

• Dec 27, 2021 · 3 years ago
  One option for setting a stop loss after a market trade on BitMEX is to use the 'Stop Market' order type. This allows you to set a specific price at which your position will be automatically closed if the market moves against you. It is important to note that stop loss orders are not guaranteed to be filled at the exact price specified, especially in fast-moving markets. However, they can help limit potential losses and provide a level of risk management. Make sure to carefully consider your risk tolerance and set your stop loss at a level that aligns with your trading strategy.
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• Dec 27, 2021 · 3 years ago
  Another option is to use the 'Trailing Stop' order type on BitMEX. This type of stop loss order is designed to follow the market price as it moves in your favor, while also maintaining a specified distance from the current market price. If the market reverses and moves against your position, the trailing stop will be triggered and your position will be closed. Trailing stops can be useful for capturing profits while also protecting against potential losses.
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• Dec 27, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, also offers options for setting a stop loss after a market trade. They provide a user-friendly interface where you can easily set your stop loss level and manage your risk. Similar to BitMEX, BYDFi offers 'Stop Market' and 'Trailing Stop' order types for setting stop losses. It's important to familiarize yourself with the platform's features and risk management tools before executing trades.
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