How to cancel KuCoin leverage

To cancel a leverage position on KuCoin, log in, select "Leverage" under "Trade," choose the trading pair, select the open position, opt for "Close All" to liquidate or adjust leverage to minimize losses or secure profits, confirm the cancellation, and review the results in the "History" tab within the Leverage Trading interface.

Nov 11, 2024 at 02:52 am

How to Cancel KuCoin Leverage

KuCoin provides users with a leverage trading service that allows them to trade with borrowed funds, magnifying potential profits but also increasing potential losses. However, situations may arise where you may need to cancel your leverage position, whether to secure profits, cut losses, or adjust your trading strategy. This guide will provide a comprehensive breakdown of the steps involved in canceling your leverage position on KuCoin.

1. Navigate to the Leverage Trading Interface

• Log in to your KuCoin account and click on "Trade" in the top navigation bar.
• Select "Leverage" from the drop-down menu to enter the Leverage Trading interface.

2. Choose the Correct Trading Pair

• On the Leverage Trading interface, select the trading pair you wish to cancel your leverage position for.
• Trading pairs are displayed in the format [Base Currency]/[Quote Currency], e.g., BTC/USDT.

3. Locate Your Open Positions

• Navigate to the "Positions" section below the trading chart.
• Open positions represent the trades you have currently active with leverage.

4. Select the Position to Cancel

• Select the position you wish to close. Ensure you verify the trading pair, position size, and entry price before proceeding.
• Once selected, the position details will be displayed on the right-hand side of the screen.

5. Choose "Close All" or "Adjust Leverage"

• You can choose to close the entire position by clicking "Close All." This will liquidate the position at the current market price.
• Alternatively, you can adjust the leverage by manually changing the "Leverage" value. This allows you to reduce the borrowed funds and potentially minimize losses or lock in profits.

6. Confirm the Cancellation

• After choosing the appropriate option, a confirmation window will appear.
• Verify the details of the cancellation, including the trading pair, position size, and closing price (if applicable).
• Click "Confirm" to proceed with the cancellation.

7. Review the Cancellation Results

• Once confirmed, the position will be closed or the leverage will be adjusted according to your selection.
• You can review the results of the cancellation in the "History" tab within the Leverage Trading interface.