How to close a position in Poloniex contract trading

How to Close a Position in Poloniex Contract Trading

Poloniex is a popular cryptocurrency exchange that offers a variety of trading options, including contract trading. Contract trading is a type of derivatives trading that allows traders to speculate on the future price of an asset without actually owning the underlying asset.

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

1. Navigate to the Contract Trading Page

• Log in to your Poloniex account and then click on the "Contracts" tab.
• On the contract trading page, you will see a list of all the available contract markets.
• Find the contract market that you want to close a position in and click on it.

2. Click on the "Open Orders" Tab

• Once you have selected the contract market, you will see a list of all your open orders.
• Click on the "Open Orders" tab to view a list of all your open orders for that contract market.

3. Select the Order You Want to Close

• Find the order that you want to close and click on the "Close" button.
• A confirmation window will appear. Click on the "Close Order" button to confirm that you want to close the order.

4. Your Position Will Be Closed

• Once you have confirmed that you want to close the order, your position will be closed.
• You will see a confirmation message in the order history.

5. Your Funds Will Be Available

• Once your position is closed, your funds will be available in your Poloniex account.
• You can then withdraw your funds or use them to trade other contract markets.