Can you explain the concept of trailing stop on BitMEX?

1 answers

• Dec 27, 2021 · 3 years ago
  BYDFi offers a trailing stop feature on its platform, which works similarly to the concept I described earlier. Traders can set a trailing stop order on BitMEX through the BYDFi platform, allowing them to take advantage of this powerful risk management tool. It's important to note that trailing stops should be used with caution and in conjunction with other risk management strategies. It's always a good idea to thoroughly understand how trailing stops work and to practice using them in a demo account before implementing them in live trading.
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