How can I effectively use a market stop loss on BitMEX to protect my digital assets from liquidation?

1 answers

• May 08, 2022 · 3 years ago
  Hey there! Protecting your digital assets from liquidation is a smart move. To effectively use a market stop loss on BitMEX, follow these steps: 1. Log in to your BitMEX account and go to the trading interface. 2. Choose the trading pair you want to set a market stop loss for. 3. Select the 'Market' order type. 4. Set the 'Stop Price' to the price at which you want the stop loss order to be triggered. 5. Enter the quantity of digital assets you want to sell in the 'Quantity' field. 6. Review your order details and click on the 'Sell' button to place the market stop loss order. By using a market stop loss, you can protect your digital assets from liquidation and minimize potential losses. Just make sure to set your stop price at a level that suits your risk tolerance and trading strategy. If you have any more questions, feel free to ask!
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