What are the steps to set a stop loss on BitMEX?

1 answers

• Mar 01, 2022 · 3 years ago
  Setting a stop loss on BitMEX is easy. Just follow these steps: 1. Log in to your BitMEX account and navigate to the trading interface. 2. Select the trading pair you want to set a stop loss for. 3. Look for the 'Stop Market' order type and click on it. 4. Enter the price at which you want the stop loss to trigger. 5. Specify the quantity of the cryptocurrency you want to sell when the stop loss is triggered. 6. Review the order details and click on the 'Place Order' button. By setting a stop loss, you can protect yourself from significant losses in case the market moves against your position. It's an essential risk management tool for traders.
  654327