How to close a position in Poloniex contract trading

To close a position in Poloniex contract trading, navigate to the contract trading page, click on the "Open Orders" tab, find and select the order to be closed, confirm its closure, and receive your funds once the position is confirmed closed.

Nov 30, 2024 at 03:30 pm

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.