How to switch contract mode on Bitget? Bitget full-position and position-by-position adjustment tutorial

Switching between contract modes on Bitget, specifically between full-position and position-by-position modes, is an essential skill for traders looking to manage their cryptocurrency futures trading effectively. This tutorial will guide you through the process of adjusting these settings on Bitget, ensuring you understand each step and the implications of your choices.

Understanding Contract Modes on Bitget

Before diving into the how-to, it's important to understand the two contract modes available on Bitget: full-position and position-by-position. Full-position mode treats all your positions as a single entity, calculating margin and risk across all open positions. On the other hand, position-by-position mode calculates margin and risk separately for each position, offering more granular control over your trades.

Accessing the Contract Mode Settings

To switch between these modes, you'll need to access the settings on the Bitget platform. Here's how you can do it:

• Log into your Bitget account and navigate to the futures trading section.
• Click on the settings icon, usually located in the top right corner of the trading interface.
• Select 'Trading Settings' from the dropdown menu that appears.

Switching to Full-Position Mode

If you wish to switch to full-position mode, follow these steps:

• In the 'Trading Settings' menu, look for the option labeled 'Position Mode'.
• Click on 'Position Mode' to reveal the options.
• Select 'Full-Position Mode' from the list.
• Confirm your selection by clicking 'Save' or 'Apply'.

Switching to Position-by-Position Mode

To switch to position-by-position mode, the process is similar but with a different selection:

• Navigate to the 'Position Mode' section within the 'Trading Settings'.
• Click on 'Position Mode' to see the available options.
• Choose 'Position-by-Position Mode' from the dropdown.
• Save your changes by clicking 'Save' or 'Apply'.

Understanding the Impact of Mode Switching

It's crucial to understand the impact of switching between these modes. In full-position mode, your total margin is used to cover all open positions, which can lead to higher leverage but also higher risk. Conversely, in position-by-position mode, each position is isolated, allowing for more precise risk management but potentially limiting your leverage.

Adjusting Leverage in Different Modes

Leverage adjustments can be made differently depending on the mode you're in:

• In full-position mode, leverage is set for the entire account. To adjust, go to the leverage settings in the futures trading interface and select the desired leverage level.
• In position-by-position mode, leverage can be set for each individual position. When opening a new position, you'll have the option to choose the leverage for that specific trade.

Practical Example of Mode Switching

Let's consider a practical example to illustrate the differences. Suppose you have two open positions: one long on Bitcoin and one short on Ethereum. In full-position mode, the margin required would be calculated across both positions, potentially affecting the leverage you can use. In position-by-position mode, each position's margin is calculated separately, allowing you to manage the risk of each trade independently.

Verifying Your Mode Settings

After switching modes, it's a good practice to verify your settings:

• Re-enter the 'Trading Settings' and check the 'Position Mode' section to ensure the correct mode is selected.
• Review your open positions to see how the new mode affects your margin and risk levels.

FAQs

Q: Can I switch between full-position and position-by-position modes while I have open positions?

A: Yes, you can switch between modes at any time. However, be aware that switching modes may affect your margin requirements and leverage. It's advisable to close positions or adjust your leverage before switching if you're concerned about potential margin calls.

Q: Will switching modes affect my existing orders?

A: Switching modes will not directly affect existing orders, but it may change how margin is calculated for those orders. Ensure you understand the new margin requirements before making the switch.

Q: Is there a fee for switching between contract modes on Bitget?

A: Bitget does not charge a fee for switching between contract modes. However, always check the latest fee structure as policies can change.

Q: Can I use both full-position and position-by-position modes for different assets on the same account?

A: No, the contract mode setting applies to your entire futures trading account on Bitget. You cannot have different modes for different assets within the same account.