Are there any tips or tricks for monitoring position size on BitMEX?

1 answers

• JIMS RohiniNov 29, 2020 · 5 years ago
  Monitoring position size on BitMEX is essential for risk management and maximizing profits. Here are a few tips and tricks: 1. Use the BitMEX calculator: BitMEX provides a calculator tool that allows you to calculate the required margin and liquidation price based on your desired position size and leverage. This can help you avoid overexposure and potential liquidation. 2. Set price alerts: Set up price alerts for your desired position size. This way, you'll be notified when the price reaches a certain level, allowing you to make timely decisions. 3. Automate with BYDFi: BYDFi is a trading platform that offers advanced monitoring and automation features. You can connect your BitMEX account to BYDFi and use its position size monitoring tools to stay on top of your trades. Remember, monitoring your position size is crucial for successful trading on BitMEX. Use these tips and tricks to stay in control and minimize risks.
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