To close a position, review all the Prerequisites and follow the Procedures.
Prerequisite:
- Please read all of the Basic Trading Concepts articles to become familiar with all the terms and concepts used below.
Procedures:
The Phemex Trading Page offers you three ways to close your positions:
Limit Orders
- Log in to Phemex.com and click the Contract Trading button.
- Under your Open Positions tab, click the Limit button corresponding to your target position.
- Set your desired Close Price and contract Quantity and click Confirm.
Market Orders
- Log in to Phemex.com and click the Contract Trading button.
- Under your Open Positions tab, click the Market button corresponding to your target position.
- Set your desired contract Quantity and click Confirm
Conditional Orders
- Log in to Phemex.com and click the Contract Trading button.
- Under your Open Positions tab, click the -/-(-) symbol corresponding to your target position.
- Check either the Take Profit, Stop Loss, Trailing Stop, or all conditions at once.
- If you checked either Take Profit or Stop Loss set a desired price or percentage for each. If you checked Trailing Stop, Set a Trail Value and an Activation Price (Optional).
NOTE: Conditional Orders trigger based on the Last Price and execute as Market Orders.
For any inquiries contact us at support@phemex.zendesk.com
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