Gate.io AMA : How to Reduce & Close a Position | web version | Oct. 28th

Q: Yesterday, we talked about how to open position already.

Q : Please tell me how to Reduce/Close Position

A : Let's look at the web version today.

Firstly instructions on how to reduce/close a position

All following examples are USDT settlement contracts of BTC_USDT trading, the webpage screenshot below is an analog contract.

1、How to reduce a position

Under the One-way position mode:

1.Under the same trading pair, you can reduce a position by creating a new position opposite the current position. When the order is filled:

1)The amount of inverse contract position is lower than the current position, that is 'reduce position', you can review the PNL of reducing a position in the billing statement.

2)When the position amount of inverse contract and current contract are the same, that is 'close position, of which the details may not be viewable in the closing position history.

3)When the position amount of the inverse contract exceeds the current position, the user will be holding positions opposite to the current contract.

2.To reduce directly in the position:

On the right side of the 'Position' list, input the number you want to reduce in 'Price'.

Click 'Amount', and input the amount( You can choose from 25%, 50%, and 75% or input a specific number ).

Click 'Limit' to enter the confirm page.

The process will be completed after the order is filled.

There's no need to input a price if selecting 'Market Price'. You just need to select the amount to complete reducing the position.

Under the Two-way position mode:

Under the two-way position mode, users can reduce a position on the position-opening page. The specific operation is the same as that under the one-way mode: If you click 'Close Position' on the position-opening page, you can simply input the price and amount.

There's no need to input a price if selecting 'Market Price'. You just need to select the amount to complete reducing the position.

Q : Thanks and how to close a position ?

A : Under the One-way position mode:

You can close a position at the limit price or market price.

1.Limit

On the right side of the 'Position' list, input the number you want to close in 'Price'.

Click 'Amount', and input the amount.

Click 'Cross' or input the amount directly.

Click 'Limit' to enter the confirm page.

The process will be completed after the order is filled.

The order will be displayed in 'Reduce-Only' if it's not filled immediately.

You can look up the order details.

It will be marked as 'Reduce-Only'.

You can cancel the order by clicking 'Withdraw'.

2.Market:

The specific operation is the same as that under the limit price. The position can be closed without inputting any price.

( The depth of the market is ever-changing so that the predicted price is for reference only. Due to the potential bises, please pay attention when operating a position-closing. )

Under the Two-way position mode:

Under the two-way position mode, users can close a position on the position-opening page. The specific operation is the same as that under the one-way mode: If you click 'Close Position' on the position-opening page, you can simply input the price and amount.

There's no need to input a price if selecting 'Market Price'. You just need to select the amount to complete closing the position.

A : That's how to open and close position in the web version .

Q : Anything the users should be aware of ?

A : Good question...

Since there are only long and short positions instead of inverse positions under the two-way position mode, so there is not a selection of 'Reduce-Only'.

Correspondingly, the original direction of 'go long and 'go short become 'open long, 'close-range, 'open short', and 'close short'. So that users need to pay attention to choose an inverse position to reduce or close.

For example, choose to sell long to close a long position, and buy short to close a short position, and not open any position in the opposite direction.

When the amount of position you want to reduce exceeds the current position amount, only orders of the current position size can be filled successfully.

If users want to open opposite positions after closing a position, an inverse position needs to be opened separately.

Q : Let's see if the user has any questions.