What are the potential risks of not setting a market stop loss on BitMEX and how can I avoid them?

3 answers

• May 10, 2022 · 3 years ago
  Not setting a market stop loss on BitMEX can expose you to significant risks. Without a stop loss, your position is vulnerable to sudden market movements and price fluctuations. If the market goes against your position, you may experience substantial losses. To avoid these risks, it is crucial to set a market stop loss when trading on BitMEX. This will automatically trigger a sell order if the price reaches a certain level, limiting your potential losses and protecting your investment.
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• May 10, 2022 · 3 years ago
  The potential risks of not setting a market stop loss on BitMEX are substantial. Crypto markets can be highly volatile, and without a stop loss, you are exposed to the risk of losing a significant portion of your investment in a short period. To protect yourself, always set a market stop loss when trading on BitMEX. This will help you manage your risk and limit your losses in case the market moves against your position.
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• May 10, 2022 · 3 years ago
  At BYDFi, we highly recommend setting a market stop loss on BitMEX to protect your investment. Without a stop loss, you are at risk of losing a substantial amount of money if the market goes against your position. Setting a market stop loss allows you to define a price level at which your position will be automatically sold, limiting your potential losses. Don't underestimate the importance of stop loss orders when trading on BitMEX or any other exchange.
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