Contract

Text

What to do if BitMEX contract is liquidated

If your BitMEX contract is liquidated, stay calm, review your trading strategy, check your margin balance, sell losing positions, re-evaluate your risk tolerance, and consider taking a break from trading.

Nov 10, 2024 at 07:36 pm

What to do if BitMEX contract is liquidated

Introduction

Liquidation is an essential risk management tool in futures trading. It helps to protect traders from catastrophic losses by automatically closing out positions when they reach a certain level of loss. However, liquidation can also be a traumatic experience, especially for traders who are not prepared for it.

Steps to Take if Your BitMEX Contract is Liquidated

1. Stay Calm

The first thing you need to do if your BitMEX contract is liquidated is to stay calm. It is easy to panic in such situations, but panicking will only make things worse. Take a few deep breaths and try to assess the situation rationally.

2. Review Your Trading Strategy

Once you have calmed down, you should take some time to review your trading strategy. What went wrong? Did you enter the trade with a stop loss? Did you use leverage that was too high? Once you have identified the mistakes that you made, you can start to make changes to your strategy so that you can avoid similar mistakes in the future.

3. Check Your Margin Balance

After you have reviewed your trading strategy, you should check your margin balance. If you have any open positions, you may need to add more margin to keep them open. If you do not have any open positions, you can withdraw your remaining margin balance.

4. Sell Your Losing Position(s)

If you have any open positions that are losing money, you should consider selling them. The longer you hold on to a losing position, the more money you will lose.

5. Re-evaluate Your Risk Tolerance

If you are repeatedly getting liquidated, it may be a sign that you are taking on too much risk. You should re-evaluate your risk tolerance and make adjustments to your trading strategy accordingly.

6. Take a Break from Trading

If you are feeling overwhelmed, it may be helpful to take a break from trading for a few days. This will give you time to clear your head and come back to trading with a fresh perspective.

Conclusion

Liquidation is a normal part of futures trading. By following these steps, you can minimize the impact of liquidation and get back to trading as quickly as possible.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

SHOGGOTH

$0.1568

106.38%

Trade Now
ANT

$3.95

58.93%

Trade Now
MIGGLES

$0.1176

56.38%

Trade Now
LUNA

$0.0896

51.24%

Trade Now
VIRTUAL

$0.5028

46.92%

Trade Now
MOODENG

$0.6544

37.74%

Trade Now

Latest Crypto News

PEPE the Frog Memecoin Surges 96.9% in 7 Days After Coinbase Listing
2024-11-15 22:30:02
Pepe (PEPE) vs. Dogecoin (DOGE) vs. DTX Exchange (DTX) – Which Crypto May Pump First?
2024-11-15 22:30:02
Bitcoin (BTC) Price Analysis: Willy Woo Forecasts New All-Time Highs Above $100,000
2024-11-15 22:30:02
Rexas Finance (RXS): A New Rival Emerges to Challenge Dogecoin (DOGE)
2024-11-15 22:20:01
Rexas Finance (RXS) Is the New Investment Choice Set to Dominate the 2024 Bull Run
2024-11-15 22:20:01
output: title: Top 18 Meme Coins to Invest in 2024
2024-11-15 22:30:02

Related knowledge

How to play Upbit usdt contract

Nov 15,2024 at 02:04pm

How to Play Upbit USDT ContractIntroductionUpbit is one of the leading cryptocurrency exchanges in South Korea. It offers a variety of trading options, including spot trading, margin trading, and futures trading. Upbit also offers a USDT contract, which is a type of futures contract that is denominated in USDT.Benefits of Playing Upbit USDT ContractTher...

How to calculate Upbit contract rate

Nov 15,2024 at 04:47am

A Comprehensive Guide to Calculating Upbit Contract RatesUpbit, a leading South Korean cryptocurrency exchange, offers a comprehensive suite of trading options, including cryptocurrency spot trading, margin trading, and futures contracts trading. Futures contracts are financial instruments that allow traders to speculate on the future price of an asset,...

How long does it take for Upbit contract settlement

Nov 14,2024 at 10:10pm

How Long Does It Take for Upbit Contract Settlement?Upbit, a renowned South Korean cryptocurrency exchange, offers a diverse range of trading options, including spot trading and contract trading. Contract trading, also known as futures trading, allows traders to speculate on the future price movements of underlying assets without taking physical possess...

How to open 75x contracts on Upbit

Nov 15,2024 at 12:50pm

How to Open 75x Contracts on UpbitUpbit is a South Korean cryptocurrency exchange that offers a wide range of trading options, including 75x contracts. 75x contracts are a type of leveraged contract that allows traders to multiply their potential profits by up to 75 times. However, it is important to note that leveraged trading also amplifies potential ...

What is Upbit contract trading

Nov 14,2024 at 10:46pm

What is Upbit Contract Trading?Upbit is a South Korean cryptocurrency exchange that offers a wide range of trading options, including spot trading, margin trading, and contract trading. Contract trading, also known as futures trading, allows traders to speculate on the future price of a cryptocurrency without having to actually own the underlying asset....

Which is better for beginners, Upbit contracts or leverage

Nov 15,2024 at 08:56pm

Which is Better for Beginners, Upbit Contracts or Leverage?IntroductionUpbit, the leading cryptocurrency exchange in South Korea, offers two main trading products: Upbit Contracts and Upbit Leverage. Both products allow traders to trade cryptocurrencies with leverage, but they differ in terms of the underlying assets, the risks involved, and the trading...