How to close BitMEX contract trading

How to Close BitMEX Contract Trading

BitMEX is a popular cryptocurrency exchange that offers a range of trading options, including contract trading. Contract trading allows users to speculate on the future price of an underlying asset without having to take ownership of the asset itself. This can be a risky but potentially rewarding way to trade cryptocurrencies.

If you're new to contract trading, it's important to understand how to close your positions properly. Closing a contract position involves selling the contract back to the exchange at the current market price. This will close out your position and allow you to realize any profit or loss.

Steps to Close a BitMEX Contract Trading Position1. Open the Contracts Page

• Log in to your BitMEX account and click on the "Contracts" tab.
• This will open a list of all of your open contract positions.
• Find an open contract that you want to close and click on the "Close Position" button.

2. Choose Qty and Px

• Enter the number of contracts you want to close.
• You can also choose to close all of your open contracts for the selected symbol by clicking on the "Close All" button.
• Enter the price at which you want to close the contract.
• You can use the market price by clicking on the "Market" button, or you can enter a limit price.
• A limit price is the price at which you are willing to close the contract.

3. Confirm the Close Position

• Once you have entered the Qty and Px, click on the "Confirm Close Position" button.
• A pop-up window will appear asking you to confirm the close position.
• Click on the "Close Position" button to close the position.

The steps above will close your BitMEX contract trading position. You will now be able to see the realized profit or loss in your account balance.