Can you guide me on how to properly set a stop-loss on a long position on BitMEX?

3 answers

• Nam LeJul 27, 2023 · 2 years ago
  Sure! Setting a stop-loss on a long position is an important risk management strategy in trading. Here's how you can do it on BitMEX: 1. Log in to your BitMEX account and navigate to the trading interface. 2. Find the 'Stop Market' order type and select it. 3. Choose the trading pair and the 'Long' position you want to set the stop-loss for. 4. Enter the stop price at which you want to trigger the stop-loss order. 5. Specify the quantity of the position you want to protect. 6. Set the 'Trigger' to 'Last Price' if you want the stop-loss to be triggered based on the last traded price. 7. Review the order details and click on 'Place Order' to set the stop-loss. Remember to consider your risk tolerance and adjust the stop price accordingly. It's also a good practice to regularly monitor your positions and adjust the stop-loss if needed. Hope this helps! If you have any further questions, feel free to ask.
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• Tammam R RahhalMar 23, 2023 · 2 years ago
  No problem! Setting a stop-loss on a long position on BitMEX is quite straightforward. Just follow these steps: 1. Login to your BitMEX account and go to the trading interface. 2. Look for the 'Stop Market' order type and select it. 3. Choose the trading pair and the 'Long' position you want to set the stop-loss for. 4. Enter the stop price at which you want the stop-loss order to be triggered. 5. Specify the quantity of the position you want to protect. 6. Set the 'Trigger' to 'Last Price' if you want the stop-loss to be triggered based on the last traded price. 7. Review the order details and click on 'Place Order' to set the stop-loss. Remember to consider your risk tolerance and adjust the stop price accordingly. It's always a good idea to practice setting stop-loss orders on a demo account before doing it with real funds. I hope this helps! Let me know if you have any more questions.
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• Bruno MarsJul 30, 2022 · 3 years ago
  Absolutely! Here's a step-by-step guide on how to set a stop-loss on a long position on BitMEX: 1. Log in to your BitMEX account and navigate to the trading interface. 2. Look for the 'Stop Market' order type and select it. 3. Choose the trading pair and the 'Long' position you want to set the stop-loss for. 4. Enter the stop price at which you want the stop-loss order to be triggered. 5. Specify the quantity of the position you want to protect. 6. Set the 'Trigger' to 'Last Price' if you want the stop-loss to be triggered based on the last traded price. 7. Review the order details and click on 'Place Order' to set the stop-loss. Remember to consider your risk tolerance and adjust the stop price accordingly. It's important to regularly monitor your positions and make adjustments as needed. I hope this explanation was helpful! If you have any more questions, feel free to ask.
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