What is the process for placing a stop-loss on a long trade on BitMEX?
acerDec 25, 2021 · 3 years ago1 answers
Can you explain the step-by-step process for placing a stop-loss order on a long trade on BitMEX? I want to make sure I understand how to protect my investment in case the market moves against me.
1 answers
- Dec 25, 2021 · 3 years agoWhen it comes to placing a stop-loss order on BitMEX for a long trade, it's important to follow a few simple steps. First, log in to your BitMEX account and navigate to the trading interface. Choose the trading pair you want to trade and select 'Long' as the position type. Enter the quantity of the asset you want to buy and set the desired entry price. Then, find the 'Stop Market' option and enter the stop price at which you want the stop-loss order to trigger. Finally, review your order details and click 'Submit' to place the stop-loss order. Remember, stop-loss orders can help protect your investment, but they are not guaranteed to be filled at the exact stop price due to market conditions.
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