I'm new to trading and I've recently started using MEXC's conditional close orders for partial profit-taking. I'm having some trouble setting up the orders, and I'm hoping someone here can help me out.
I want to use conditional close orders to close a portion of my position on certain price changes. I understand that I can set up a condition to automatically close 50% of my position if the price changes by X amount, but I'm not sure how to enter the order. Do I enter it on the MEXC platform before I enter the trade, or can I enter it afterwards?
I also don't know how to set the condition. Do I just enter the price change I want it to trigger at, or do I need to specify something else?
I'd really appreciate any help anyone can provide.
I want to use conditional close orders to close a portion of my position on certain price changes. I understand that I can set up a condition to automatically close 50% of my position if the price changes by X amount, but I'm not sure how to enter the order. Do I enter it on the MEXC platform before I enter the trade, or can I enter it afterwards?
I also don't know how to set the condition. Do I just enter the price change I want it to trigger at, or do I need to specify something else?
I'd really appreciate any help anyone can provide.