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how bitmex trading works

To begin trading on BitMEX, you must first create an account by providing your email, creating a password, and agreeing to the terms of service.

Oct 29, 2024 at 02:36 am

Step-by-Step Guide to Trading on BitMEX

BitMEX, an acronym for Bitcoin Mercantile Exchange, is a popular cryptocurrency derivatives exchange that offers perpetual contracts, futures contracts, and a variety of trading instruments. Here's a detailed guide to help you understand how trading on BitMEX works:

1. Create an Account:

Visit the BitMEX website (https://www.bitmex.com) and click on "Sign Up" in the top right corner.
Enter your email address, create a strong password, and agree to the terms of service.
Complete the verification process by submitting your personal information and verifying your email address.

2. Deposit Funds:

BitMEX primarily accepts cryptocurrencies for deposits.
Go to your "Wallet" section and select "Deposit" next to the desired cryptocurrency.
Copy the deposit address provided and transfer funds from your external wallet.
Deposits typically take a few minutes to process.

3. Funding Your Trading Account:

After depositing funds, you need to transfer them to your trading account.
Click on "Exchange" in the navigation bar and select "Transfer."
Enter the amount you want to transfer and choose "Main" as the destination (this is your trading account).
Click on "Submit" to complete the transfer.

4. Learn the Interface:

The BitMEX trading interface is divided into several sections:
- Order Book: Displays the current bid and ask orders for the selected contract.
- Chart: Shows the price history of the contract.
- Open Orders: Lists all your active orders.
- Trade History: Shows your recent trades.
- Account Summary: Displays your account balance, margin, and other information.

5. Place an Order:

Select the contract you want to trade (e.g., XBTUSDM for Bitcoin futures) from the "Contracts" section.
Choose an order type (Limit, Market, Stop-Limit, OCO).
Enter the order size (in contracts), price (for limit orders), and leverage (if desired).
Click on the "Buy" or "Sell" button to place your order.

6. Manage Your Positions:

Once your order is executed, you can monitor your open positions in the "Positions" tab.
You can adjust your leverage, add to your position, or close it by clicking on the "Adjust" button.

7. Calculate Profit/Loss:

Profit/loss on BitMEX is calculated based on the difference between your entry and exit prices.
The unrealized P/L shows the current value of your position based on market prices.
The realized P/L shows the profit or loss on closed positions.

8. Withdraw Funds:

To withdraw funds, go to the "Wallet" section and click on "Withdraw."
Select the cryptocurrency and enter the amount you want to withdraw.
Provide the withdrawal address and verify the transaction using your 2FA or security key.
Withdrawals typically take several hours to process.

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！

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