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How do I close a Position?

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

  1. Log in to Phemex.com and click the Contact Trading button.
  2. Under your Open Positions tab, click the Limit button corresponding to your target position.
  3. Set your desired Close Price and contract Quantity and click Confirm.

Market Orders

  1. Log in to Phemex.com and click the Contact Trading button.
  2. Under your Open Positions tab, click the Market button corresponding to your target position.
  3. Set your desired contract Quantity and click Confirm

Conditional Orders

  1. Log in to Phemex.com and click the Contact Trading button.
  2. Under your Open Positions tab, click the -/-(-) symbol corresponding to your target position.
  3. Check either the Take ProfitStop LossTrailing Stop, or all conditions at once.
  4. 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.com.

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Phemex, Trade Simple

Updated on May 14, 2020

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