How to close a position in CoinEx contract trading

To close a position in CoinEx contract trading, identify your position, select a closing method (market or limit order), enter the desired quantity, set the limit price (for limit orders), and monitor the order status until fully executed.

Dec 04, 2024 at 04:44 pm

How to Close a Position in CoinEx Contract Trading

Introduction

Closing a position in CoinEx contract trading involves several essential steps that must be executed accurately to manage risk and secure profits. Whether closing a long or short position, a clear understanding of the process ensures a seamless trading experience. This guide will provide a comprehensive overview of the steps involved in closing a position on CoinEx.

Steps to Close a Position in CoinEx Contract Trading

Identify Your Position:

Access the "Positions" tab in the CoinEx trading interface.
Locate the contract whose position you wish to close.
Click on the "Close" button associated with the position.

Select Closing Method:

Market Order: Close your position immediately at the current market price.
Limit Order: Close your position at a predetermined price.

Market Order:

In the "Market Order" tab, select the position you want to close.
Enter the desired closing quantity.
Click on the "Close" button to execute the order.

Limit Order:

In the "Limit Order" tab, select the position you want to close.
Enter the desired closing quantity.
Set the limit price at which you want your position to close.
Click on the "Close" button to place the order.

Monitor Order Status:

After executing the closing order, monitor its status in the "Open Orders" tab.
The order will be marked as "Filled" once fully executed.

Verify Position Closure:

Once the closing order is filled, navigate back to the "Positions" tab to confirm that the position has been closed.
Ensure the corresponding contract row no longer appears in the list.

Settlement Process:

Upon closing a position, the contract is settled in accordance with its underlying asset and contract specifications.
The settlement process may involve receiving or paying the difference between the opening and closing prices.

Risk Management Considerations:

Always consider the risk associated with closing a position.
Market conditions can fluctuate rapidly, affecting the execution price of your closing order.
Utilize appropriate risk management strategies, such as stop-loss orders, to manage potential losses.

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