Can you explain the difference between a stop order and a limit order on BitMEX?

1 answers

• May 01, 2022 · 3 years ago
  As an expert in the field, I can explain that a stop order on BitMEX is a type of order that is triggered when the market price reaches a specified level. It is commonly used to limit potential losses by automatically selling a position when the market moves against the trader. On the other hand, a limit order is an order to buy or sell at a specific price or better. It allows traders to set a specific price at which they are willing to buy or sell, ensuring that they get the desired price or better. Both stop orders and limit orders have their own advantages and should be used based on the trader's risk tolerance and market conditions. It's important to understand the differences between these two order types to effectively manage trades on BitMEX.
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