How to close a position in BitMart contract trading

To close a position in BitMart Contract Trading, traders should log in to their account, select the desired contract, and enter the quantity to be closed, ensuring understanding of the difference between closing and liquidating positions.

Dec 06, 2024 at 09:55 am

How to Close a Position in BitMart Contract Trading

BitMart is a cryptocurrency exchange that offers a variety of trading products, including spot trading, margin trading, and contract trading. Contract trading is a type of derivative trading that allows traders to speculate on the future price of an underlying asset, such as Bitcoin or Ethereum.

To close a position in BitMart contract trading, follow these steps:

1. Log in to your BitMart account.
2. Click on the "Contracts" tab.
3. Select the contract that you want to close.
4. Click on the "Close Position" button.
5. Enter the number of contracts that you want to close.
6. Click on the "Close Position" button again.

Your position will now be closed. You will receive the proceeds of the sale in your BitMart account.

Frequently Asked Questions

What is the difference between closing a position and liquidating a position?

Closing a position means that you are voluntarily selling your contract back to the exchange. Liquidating a position means that the exchange is forcing you to sell your contract because you have lost too much money.

What happens if I close a position at a loss?

If you close a position at a loss, you will lose the difference between the price at which you bought the contract and the price at which you sold it.

What happens if I close a position at a profit?

If you close a position at a profit, you will receive the difference between the price at which you bought the contract and the price at which you sold it.

Can I close a position partially?

Yes, you can close a position partially. To do this, simply enter the number of contracts that you want to close in the "Close Position" dialog box.

What are the fees for closing a position?

The fees for closing a position vary depending on the contract that you are trading. You can view the fees for a particular contract by clicking on the "Fees" tab in the contract details page.