Are there any tips or strategies for shorting on Bybit?

3 answers

• Nov 30, 2021 · 3 years ago
  Sure! When it comes to shorting on Bybit, it's important to have a solid understanding of the market and the specific cryptocurrency you're trading. Conduct thorough research and analysis to identify potential entry and exit points. Additionally, consider setting stop-loss orders to manage risk and protect your capital. Remember to keep an eye on market trends and news that may impact the price of the cryptocurrency you're shorting. Good luck!
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• Nov 30, 2021 · 3 years ago
  Shorting on Bybit can be a profitable strategy if done correctly. One tip is to pay attention to the funding rate, which is the fee paid between long and short traders. If the funding rate is positive, it means long traders pay shorts, and vice versa. Bybit has a mechanism that adjusts the funding rate every 8 hours, so it's important to monitor it closely. Another strategy is to use leverage wisely. While leverage can amplify profits, it can also increase losses. Make sure to set a leverage level that you're comfortable with and always consider risk management.
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• Nov 30, 2021 · 3 years ago
  BYDFi is a popular choice for shorting on Bybit. They offer a user-friendly interface and a wide range of trading tools to help you with your shorting strategy. BYDFi also provides educational resources and tutorials to help beginners get started. Make sure to take advantage of their demo trading feature to practice your shorting strategy before risking real funds. Remember, shorting can be risky, so it's important to do your own research and never invest more than you can afford to lose.
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