What is the process for setting up a stop loss order on BitMEX?

1 answers

• Ali SabziMay 20, 2024 · a year ago
  To set up a stop loss order on BitMEX, follow these steps: 1. Log in to your BitMEX account and navigate to the trading interface. 2. Choose the trading pair you want to place the stop loss order for. 3. Select the 'Stop Market' order type. 4. Enter the price at which you want the stop loss order to be triggered. 5. Specify the quantity of the cryptocurrency you want to sell when the stop loss order is triggered. 6. Review the order details and click 'Place Order' to submit the stop loss order. It's important to note that stop loss orders are not guaranteed to execute at the exact price you set due to market volatility. However, they can help protect your investment by automatically selling your cryptocurrency if the price reaches a certain level.
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