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How to close a position in BingX contract trading
In BingX contract trading, closing a position involves selecting the desired contract, determining the closing parameters (price, quantity), and confirming the order, resulting in settlement and impact on account balance.
Dec 07, 2024 at 02:18 am
How to Close a Position in BingX Contract Trading
Contract trading, also known as futures trading or perpetual trading, is a popular way to trade cryptocurrencies. It allows traders to speculate on the future price of an asset without having to take ownership of the underlying asset. BingX is one of the leading cryptocurrency exchanges that offer contract trading.
Closing a position in BingX contract trading is a simple process that can be completed in a few steps. Here's a step-by-step guide on how to do it:
1. Log in to Your BingX Account
Visit the BingX website (https://bingx.com/) and log in to your account. If you don't have an account, you can create one for free by clicking on the "Sign Up" button.
2. Navigate to the Contract Trading Page
Once you're logged in, hover over the "Trade" tab and select "Contract Trading." This will take you to the contract trading page.
3. Select the Contract You Want to Close
On the contract trading page, you will see a list of available contracts. Select the contract that you want to close by clicking on its name.
4. Click on the "Close Position" Button
Once you have selected the contract, a new window will appear with the contract details. Click on the "Close Position" button.
5. Enter the Close Position Parameters
In the "Close Position" window, you will need to enter the following parameters:
- Close Position: Select "Buy Close" or "Sell Close" to close your position.
- Close Price: The price at which you want to close your position.
- Close Quantity: The amount of contracts you want to close.
- Confirm: Click on the "Confirm" button to submit your close position order.
6. Monitor Your Close Position Order
Once you have submitted your close position order, it will be displayed in the "Open Orders" tab of the contract trading page. You can monitor your order's status and make any necessary adjustments.
7. Settlement
Once your close position order is executed, your position will be closed and the profit or loss will be credited or debited to your account.
Conclusion
Closing a position in BingX contract trading is a quick and easy process. By following the steps outlined in this guide, you can close your positions efficiently and maximize your trading profits.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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