How can I figure out my profits on BitMEX?

3 answers

• Dec 27, 2021 · 3 years ago
  To calculate your profits on BitMEX, you need to consider a few factors. First, you need to know the entry price and exit price of your trade. Then, you need to calculate the difference between the two prices. Next, you need to consider the leverage you used for the trade. Multiply the price difference by the leverage to get the total profit. Finally, don't forget to subtract any fees or commissions from your profit to get the actual amount you made. Keep in mind that this is a simplified explanation, and there may be other factors to consider depending on your specific trade.
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• Dec 27, 2021 · 3 years ago
  Calculating profits on BitMEX is quite straightforward. You just need to subtract your entry price from your exit price to get the price difference. Then, you can multiply the price difference by the quantity of the contract you traded to get the profit in USD. However, it's important to note that BitMEX uses Bitcoin as the base currency, so the profit will be in Bitcoin. If you want to convert it to your preferred currency, you can use a cryptocurrency exchange or a conversion tool.
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• Dec 27, 2021 · 3 years ago
  When it comes to calculating profits on BitMEX, it's important to understand the concept of leverage. BitMEX offers leverage options ranging from 1x to 100x, which means you can amplify your potential profits or losses. To calculate your profits, you need to consider the leverage you used and the price difference between your entry and exit points. Multiply the price difference by the leverage to get the total profit. However, keep in mind that higher leverage also increases the risk, so it's crucial to manage your risk properly.
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