BitMex: Stop loss on shorts?

Yes, current price is above $7,550.

Ok, I think I understand. In regards to your last sentence. "If you want to make sure that a Stop Limit order is executed (may it be Stop Loss or Take Profit), you should set your Limit Price as a little less favourable that your Stop (Trigger) Price."

In a short position, my Stop Price = $7,000 and a Limit Price = $6,000. So once the price hits below $7,000 or below, it will tigger my Stop Price. Now, if it keeps price keeps going low, and hits $6,000, it will trigger my limit, and I would have a profit of $1,000. But if it never hits $6,000 and goes above $7,000, I would not see a profit, but instead I would see a loss.

Did I understand this correct?

/r/BitcoinMarkets Thread Parent