 What's going on y'all today in this video? We're gonna go over a few things on bitmex I was getting a lot of bitmex questions I had a video on this before but for some reason YouTube said that it abused the Community terms. I don't know whatever. I'm gonna make it again 2020 version so let's get right into it man So the first thing that we're gonna talk about is entering positions So if you're entering a For example a breakout entry the way we enter breakout entries is we use a stop market orders Or you can use a stop limit order All right, so you can see them right here. You have your limit order. You have your market order Got your stop market stop limit trailing stop take profit limit take profit mark market All right, so When I'm setting up an entry If it's a breakout entry I Usually like to if I'm at the computer and I'm going to be around Then I will use a stop limit order because I can watch it I'm I'm gonna be here, you know what I mean? So if it doesn't trigger if it doesn't want to triggers if it doesn't go off then I will You know update the order at a new price if I'm not gonna be around the computer then I'm using a stop market order because The thing with the limit order if the price moves too fast and it moves right past where you're Where your limit order is after it triggers that you're not gonna, you know, it's not gonna fulfill The order won't execute so that's why you want to use market or stop market orders in that situation where you're not around So for example if I want to set a stop market order above 12,000 the way that I'm gonna set it up is I'm gonna hit stop market Whatever amount of contracts you want to do here being going to change the price here to 12 You know 10 or something. I don't know some random number. You'll see that this goes off So you can't click this anymore Because this is you could only do along with this All right, make sure this right here is not checked because if that's checked then this is Order just to close the You know the triggers only to close it will not it'll cancel, you know if it's on and you'd have a position Here you can this is what's going to trigger your stop So you could do either last Price the mark price or the index price. I usually leave it last If you're doing a market order you might want to do mark But if you're doing limit then definitely last So I have it on last Then the next thing is your leverage. I always recommend no more than 10x leverage I think I believe anything above 10x you're more on the grounds of gambling versus, you know really trading With cuz the next thing up is 25x now That could you know get you liquidated very very easily With 10 with 10x I feel very comfortable This is what I've always traded with if you're new I don't whatever I say here If you knew I recommend splitting that in half So if you're new I don't I don't recommend going past 5x. All right, so I'm gonna do 10x Like I said my whatever amount of contracts you want you set your stop price You said at the order this is gonna come up is basically just telling you, you know The position is going to be opened in isolated margin mode Isolated margin will use your selected margin preference with just 10x This will limit your loss watch your liquidation price carefully. So Here's is gonna show your order value The cost at 10x and you're available balance Position size after execution. So we only put one one contract there The mark price where it's currently at your estimated liquidation price So check this out if right now our liquidation price is ten thousand eight hundred sixty four Which is a 8% drop? All right, so if we go up to 25x, let's see what how that changes that price Look at it. Look at the liquidation price now now estimate the liquidation is 11,493 Let's take it a step further go 50x Look at that liquidation price 11,719 and of course if you Go 100x which is I recommend just going to the your local casino At that point and betting it all on red or black Your liquidation price is 11,836 and the price is currently at you know 11,869 that's only 0.28% drop away. So you're gonna get liquidated most of the time Do not mess with those numbers. I'm telling you guys Years and years of experience doing this do not mess with those don't go beyond 10x Do not get greedy greedy is what kills your bankrolls So 10x is what we're doing We see our liquidation price is $1,000 under Either way it will never reach that because we're gonna have a stop losses set We hit buy boom that contract is set up. You can see here on this You see can I make this bigger? Trying to see what I could tick off so I could Make this chart bigger Here we go. Yeah, so for those of you don't know you could actually move all this stuff around So you see you see our orders right here is gonna trigger right right at that line Now if I want to set a stop loss I can't set the stop loss on this order because it has to fulfill before I can set a stop loss So when you're doing prices in the future that are it's not there yet. You can't set stop losses on it Now if you're doing a entry, this is a different type of entry where you're you know The price where you want to enter is lower than the current price. For example, right now the price is 11,912 The price I would like to enter if we look at this Chart I would say. All right, let me see. This looks like a decent support area right here, right? 11845 so I'll put here 11845 45 and guys do not take this trade this I'm just giving you guys an example So you see how now it doesn't let me set a stop market order on that Yeah, you can't do it because what the way that you enter a support entry when the price is currently higher than where you Want to enter it's you have to do a limit or a market order. Well, no, you can't do a market where I'm sorry Yeah, just a limit order so limit we said 845 Everything's good 10x leverage always make sure that this the trigger is not checked here and that you only have 10x leverage Double check it triple check it. Trust me. I've seen a lot of people make mistakes and blow their entire account by clicking the wrong thing You can look here at our position Mark price, this is estimated liquidation will be 10,000 under where We're gonna be entering so we don't have to worry about that Hit by boom. Our order is there Now if we look at our active orders, we have an order at 11 845 so that would be the support entry if the price goes down to that To it here where it's gonna go off unless it drops really fast and it won't fill It'll fill out a different price though as long as it goes under it's gonna fill and Then our stop order is right here So this is our breakout entry breakout entries always have to be stop market or stop limit orders. All right now Let's stop market that's entering a position now the way to close out positions. Let's just enter a position right now I'm gonna just mark it by so it could just enter me into whatever position. All right, so I just did a market buy So I have one contract Entry price is 11,912 You have your mark price right here This is the price that the mark price is currently at for some reasons way down here But the last price is 11,912 Liquidation price is again a thousand dollars under our entry so we're comfortable with that We don't ever have to worry about liquidation because we're gonna be using stops so for example if we want to say if it goes under 11,900 we want to sell right so the way you set that up is You go back over here to the stop now you could do it you can set it up as a stop limit or stop market Like I told you guys so we're just gonna do stop market for now We're gonna say that we want to sell at 11 899 because we don't want we don't want to hold under that right So we're gonna set it's a stop market. We're gonna hit here. We're gonna hit close on trigger this time This doesn't I'm not I don't think it really matters Hit close I mean hit set sell stop So remember you're gonna sell to close your position to open your position if you're going long you're gonna buy Sell to close if you're gonna short it then sell Basically, he's gonna give you a short position and by it will close your position So as you can see here, this is a close. We're gonna close the position here We're gonna hit it boom now that's another stop order that we have set here, and it's at 11 899 All right, so now let's say we don't want to sell Well, the other thing that I that I'll say is take profits So if we're taking profits when this position right now, we want to set up some stops to take profit, right? So let's say our first Target is eleven thousand nine hundred and fifty dollars So eleven thousand nine fifty you could either do a stop market or stop limit You could also do take profit limit take profit market We're gonna do for now take profit market And we're gonna set this price at nine fifty We're gonna take the one contract at that price, right? So you just hit close on trigger one And you sell Boom you have now you have three stops Set up right Now let's say that you have multiple targets, right? You have for example the way I trade I like to have Three targets usually And then I'll show you what it is that I do so let's let's buy three more contracts here I'm gonna just mark it by again All right, so now we're up to four contracts Now we have three different Targets right so Our we just set it to market. It's just easier our Targets are gonna be nine fifty which I already have set up to take profit there nine fifty We're gonna say it's nine seventy five and twelve thousand right, so I'm gonna just do the same thing. I just did nine seven five We're gonna sell one more contract Right so now we're taking Let's hit close on trigger remember always check that boom Sell all right, so we have the different cells now We have nine fifty nine seventy five we still have even if we hit both those Targets we're still gonna have one more contract because currently we have four contracts, right? So we're gonna do one more at twelve thousand remember that was our third 12,000 that was our third target. We're gonna make sure close on triggers on Take profit. We're gonna sell one more contract. Boom All right, so we have it set up to take profit three times nine fifty nine seventy five twelve thousand now What's gonna happen? We're gonna have one more contract even if we hit all those all three of those contracts, right? All three of those targets, so what I like to do is I like to Split it up into four always. I take 25% profit at each target, right? And then the last contract is the one that I let just is what I call a runner And I let it run for as long as possible if I see that it stops dropping back down Then I'll close it if I see that it keeps going up Then I'm gonna just let it run and you can trill it with a with a trail stop or whatever it is you want to do If you want to do it with a trail stop, let's say where we've sold we've hit all three targets We've sold everything. We have one contract left. It's at twelve thousand two hundred And we want to make sure that we're trailing it, right in case the price starts to drop again So what I'm gonna do is add put a value to this The trail value is going to be how far Below the price it's gonna trail, right? So let's say I want to trill it by a hundred dollars Then I'm gonna do that right there boom a hundred dollars Trilling stop it's not letting me hit a sell. I think it's because Trigger twelve thousand I'm not sure I'm trying to see why it's not letting me trill it So it looks like 12,008 would be the trigger for the trail stop. I Don't know guys The way I do it either ways manually. I I never really use that I use stop limits stop markets And I just trill it man manually you slowly move up as the price goes up So if when they pass this 12,000 I'll move it up Under 12,000, you know once it gets to twelve thousand one hundred I'll move it, you know just under twelve thousand one hundred Guess it's twelve thousand two hundred, you know, I'll move it up a little bit more And I just keep moving it up little by little trailing it basically Until until it comes back down and I take profits and that's it I think that's basically it we covered Limit orders we covered market orders we covered Stop markets stop limits take profits And that's basically it guys We're 16 minutes in Hopefully I was able to answer most of your questions I know you guys had a lot of questions about this a lot of people asked me on you know making a video about this So if you have any other questions to leave it down in the comments I'll be more than happy to answer them if I can if I have the response if not, I'll see if I can find it And that's basically it man. There's not much to it what I always suggest do not get greedy do not get greedy That is the number one reason New traders are not profitable because they're greedy they see the money and instead of taking profits They just leave it in and they don't use stop losses You lose all your profits you lose your bankroll and you stop trading That's what happens to 90% of traders don't be part of the 90 be part of the 10% peace out guys