🍊Opening / Closing a Position
Last updated
Last updated
You can profit from the price fluctuations of digital assets by either opening long or short. Opening a position includes: "Open Long" and "Open Short"; while closing a position includes: "Close Long" and "Close Short".
1. Bullish, Open Long
You can open a long position when you anticipate the market will rise. Here, we'll demonstrate using the WETH/USDC Perpetual as an example. Go to the "Trade" page, and click on the currency pair box in the top left corner labeled "WETH/USDC".
Choose the leverage ratio (2x-50x) and the order type (Limit Order or Market Order).
For a Market Order, it will open at the current market price. You need to input the amount (minimum 10 USDC), click "Open Long," and then confirm.
For a Limit Order, input the desired price and amount, then click "Open Long," and then confirm.
Note:
Leverage Ratio: The higher the leverage ratio, the potentially higher the returns, but the risk is also increased.
If the USDC amount is too low, it may result in insufficient balance to place the order. Users can adjust the leverage ratio or increase the available USDC amount to complete the order.
Because perpetual trading involves leverage, which amplifies both potential profits and risks, if the price of ETH experiences significant fluctuations, your position might be forcibly liquidated. Therefore, monitoring market movements closely is crucial and setting take-profit and stop-loss levels accordingly.
2. Bearish, Open Short
When you anticipate the market will decline, you can open a short position. Here, we'll demonstrate using the WETH/USDC Perpetual as an example.
Navigate to the "Trade" page, and select the currency pair box in the top left corner labeled "WETH/USDC".
Select your desired leverage ratio (2x-50x) and choose between a Limit Order or Market Order.
The position will open at the current market rate for a Market Order. Input the quantity (with a minimum of 10 USDC), click "Open Short," and confirm your decision.
For a Limit Order, specify your desired price and quantity. Afterward, click on "Open Short" and confirm your choice.
1. Long Position, Close Long
You can close your position in two places: the trading page and the specific position page. Users can choose based on their preferences.
To close a long position from the trading page, click "Close" then "Select Position." Choose "Limit Order," input the price and amount, and click "Close Long."
If you need to close out the entire position quickly, you can select the specific position and click "Close All at Market Price."
Note: In cases of extreme market volatility, there might be instances where orders cannot be executed.
2. Short Position, Close Short
To close a short position from the trading page, click "Close" then "Select Position." Choose "Limit Order," input the price and" amount, and then click "Close Short."
To close a short position from the specific position page: Click on "Position" → Select the specific position you want to close → Click "Close All" → Click "Confirm."
If you need to close out the entire position quickly, you can select the specific position and click "Close All at Market Price."
