Is there a recommended approach to keeping a long position open on BitMEX for an extended timeframe?

3 answers

• May 06, 2022 · 3 years ago
  One recommended approach to keeping a long position open on BitMEX for an extended timeframe is to regularly monitor the market conditions and adjust your position accordingly. This can involve setting stop-loss orders to protect your investment in case the market turns against you. Additionally, it's important to stay updated on any news or events that could impact the market and your position. By staying informed and proactive, you can increase your chances of successfully maintaining a long position on BitMEX for an extended period of time.
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• May 06, 2022 · 3 years ago
  When it comes to keeping a long position open on BitMEX for a long time, it's crucial to have a clear exit strategy in place. This means setting profit targets and stop-loss levels to protect your investment. It's also important to regularly review and adjust your position based on market trends and indicators. By having a well-defined strategy and staying disciplined, you can increase your chances of success in the long run.
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• May 06, 2022 · 3 years ago
  At BYDFi, we recommend using a combination of technical analysis and fundamental analysis to keep a long position open on BitMEX for an extended timeframe. Technical analysis involves studying price charts and indicators to identify trends and potential entry or exit points. Fundamental analysis, on the other hand, involves evaluating the underlying factors that could impact the value of a cryptocurrency. By combining these two approaches, you can make more informed decisions and increase your chances of success in the long term.
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