Close Order Types

Updated: Oct 25, 2019

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Closing a position refers to the action of taking profit or cutting a loss by terminating an open position. Below the price chart, on the right-hand side next to your open position, you will find the option to close your position with a limit or market order.

Close Limit

Many scenarios exist in which you might want to close your current open position at a predetermined price level. Simply input the price at which you would like to close your position into the open box on the right-hand side of your listed open position.


If you have an open long position of 1,000 BTSE Bitcoin Perpetual Futures Contracts (BPFC) equivalent to 1 Bitcoin and wish to close that position at $11,000, then input $11,000 into the close position limit box. If the price breaches $11,000, your entire position closes.


Using the same example, if you only wish to close part of your position, then create a new sell order on the upper left, just as you did to create your initial buy order to enter your 1,000 BPFC long position. If you want to close 500 BPFC at $11,000, then create a limit sell order for 500 BPFC at $11,000. If the price breaches $11,000, 500 of your 1,000 BPFC position closes.



Using the same example, if you only wish to close part of your position, then create a new sell order on the upper left, just as you did to create your initial buy order to enter your 1,000 BPFC long position. If you want to close 500 BPFC at $11,000, then create a limit sell order for 500 BPFC at $11,000. If the price breaches $11,000, 500 of your 1,000 BPFC positions close.



Close Market

You can also close your position, or part of your position, with a standard market order. Simply use the market order tab and boxes on the upper left side as if you were putting in a new order and enter the amount you desire to close, similar to the above limit order example.


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