How can I effectively utilize the limit order feature on BitMEX?

3 answers

• May 19, 2022 · 3 years ago
  Sure! Utilizing the limit order feature on BitMEX can be a powerful tool for managing your trades. One tip is to set your limit price slightly below the current market price if you're looking to buy, or slightly above if you're looking to sell. This way, you can increase the chances of your order being filled. Additionally, it's important to set a realistic expiration time for your limit order to avoid unnecessary cancellations. Happy trading! 💪
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• May 19, 2022 · 3 years ago
  Absolutely! When using the limit order feature on BitMEX, it's crucial to carefully analyze the market conditions and set your limit price accordingly. You can take advantage of technical analysis indicators, such as support and resistance levels, to determine the optimal price for your limit order. Remember to consider the volatility of the cryptocurrency market and adjust your limit price accordingly. Good luck with your trades! 🤝
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• May 19, 2022 · 3 years ago
  Certainly! At BYDFi, we understand the importance of effectively utilizing the limit order feature on BitMEX. One strategy is to use the 'Post-Only' option when placing your limit order. This ensures that your order will only be added to the order book if it doesn't immediately match with an existing order. This can help you avoid unnecessary fees and improve your chances of getting a favorable price. Give it a try and let us know how it works for you! 👍
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