What is the best way to close half of your position on BitMEX?

10 answers

• Dec 26, 2021 · 3 years ago
  One of the best ways to close half of your position on BitMEX is by using the 'Reduce-Only' order type. This order type ensures that your position is only reduced and not increased. To do this, you can go to the 'Trade' tab on the BitMEX platform, select the contract you want to trade, and then choose the 'Reduce-Only' option. Enter the quantity you want to close, which should be half of your current position, and submit the order. This method allows you to manage your risk and take profits while keeping the other half of your position open for potential further gains.
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• Dec 26, 2021 · 3 years ago
  Closing half of your position on BitMEX can be done by manually entering a limit order. To do this, go to the 'Trade' tab on the BitMEX platform, select the contract you want to trade, and then choose the 'Limit' order type. Enter the price at which you want to close half of your position and the quantity you want to close. Submit the order, and if the market reaches your specified price, your order will be executed. This method gives you more control over the price at which you close your position, but it may take longer to execute compared to using market orders.
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• Dec 26, 2021 · 3 years ago
  If you're looking for a more automated approach to closing half of your position on BitMEX, you can consider using a trading bot like BYDFi. BYDFi offers advanced trading strategies and features, including the ability to set up automated orders based on specific conditions. With BYDFi, you can easily configure a rule to close half of your position when certain criteria are met, such as reaching a certain profit target or a specific price level. This can save you time and effort in actively monitoring the market and manually executing orders.
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• Dec 26, 2021 · 3 years ago
  Closing half of your position on BitMEX is crucial for risk management and taking profits. One effective way to do this is by using the 'Take Profit' feature on the BitMEX platform. To utilize this feature, go to the 'Trade' tab, select the contract you want to trade, and then set a 'Take Profit' order. Enter the price at which you want to close half of your position and the quantity you want to close. When the market reaches your specified price, the 'Take Profit' order will be triggered, and half of your position will be closed automatically.
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• Dec 26, 2021 · 3 years ago
  Closing half of your position on BitMEX can also be achieved by using the 'Market' order type. This order type allows you to close your position at the current market price. To do this, go to the 'Trade' tab on the BitMEX platform, select the contract you want to trade, and then choose the 'Market' order type. Enter the quantity you want to close, which should be half of your current position, and submit the order. Keep in mind that using market orders may result in slippage, especially during periods of high volatility, so it's important to consider the potential impact on your overall trading strategy.
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• Dec 26, 2021 · 3 years ago
  Closing half of your position on BitMEX can be done by using the 'Stop Market' order type. This order type allows you to close your position at a specified price level. To use this method, go to the 'Trade' tab on the BitMEX platform, select the contract you want to trade, and then choose the 'Stop Market' order type. Enter the stop price at which you want to trigger the order and the quantity you want to close. When the market reaches your specified stop price, the 'Stop Market' order will be executed, closing half of your position. This method can be useful for managing risk and protecting profits.
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• Dec 26, 2021 · 3 years ago
  Closing half of your position on BitMEX can be achieved by using the 'Trailing Stop' order type. This order type allows you to set a dynamic stop price that follows the market movement. To do this, go to the 'Trade' tab on the BitMEX platform, select the contract you want to trade, and then choose the 'Trailing Stop' order type. Enter the trailing distance, which represents the price difference between the current market price and the stop price, and the quantity you want to close. As the market moves in your favor, the stop price will adjust accordingly, allowing you to capture profits while keeping the other half of your position open.
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• Dec 26, 2021 · 3 years ago
  Closing half of your position on BitMEX can be done by using the 'Take Profit Market' order type. This order type allows you to close your position at the best available market price when a specified profit target is reached. To use this method, go to the 'Trade' tab on the BitMEX platform, select the contract you want to trade, and then choose the 'Take Profit Market' order type. Enter the profit target at which you want to close half of your position and the quantity you want to close. When the market reaches your specified profit target, the 'Take Profit Market' order will be executed, closing half of your position.
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• Dec 26, 2021 · 3 years ago
  Closing half of your position on BitMEX can also be achieved by using the 'Take Profit Limit' order type. This order type allows you to close your position at a specified price level when a specified profit target is reached. To use this method, go to the 'Trade' tab on the BitMEX platform, select the contract you want to trade, and then choose the 'Take Profit Limit' order type. Enter the profit target and the limit price at which you want to close half of your position, as well as the quantity you want to close. When the market reaches your specified profit target and limit price, the 'Take Profit Limit' order will be executed, closing half of your position.
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• Dec 26, 2021 · 3 years ago
  Closing half of your position on BitMEX can be done by using the 'Stop Limit' order type. This order type allows you to close your position at a specified price level when a specified stop price is reached. To use this method, go to the 'Trade' tab on the BitMEX platform, select the contract you want to trade, and then choose the 'Stop Limit' order type. Enter the stop price and the limit price at which you want to close half of your position, as well as the quantity you want to close. When the market reaches your specified stop price, the 'Stop Limit' order will be triggered, and when the market reaches your specified limit price, the order will be executed, closing half of your position.
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