❌How to Close a Trade on Bybit
Would you like to close a position in order to realize a profit or a loss? There are multiple ways to close a position on Bybit:
Close By Function
Head over to the Positions tab. There, you can close a partial (or an entire) position by clicking on either the Close By “Limit” or “Market” button.
Taking Market Close order as an example:
1. Click “Market”
2. (a) Enter the closing quantity, or
(b) Select a proportion of the closing quantity
3. Click “Confirm”
Your order has been filled.
Place a New Order in the Opposite Direction
For Inverse Perpetual and Inverse Futures Contracts (in One-Way Mode), you may place a new order in the opposite direction of your current position in the order zone.
In this example, a trader is holding a long position of 10,000 BTCUSD contracts. To close 50% of the position, he or she can place an order for 5,000 short positions. This will close off 5,000 existing long positions once the order has been filled.
For USDT Perpetual and Inverse Futures Contracts (in Hedge Mode), please remember to click on the “Close” tab in the order zone in order to submit an order in the opposite direction.
USDT Perpetual Contracts:
Inverse Futures Contracts:
Make sure you are in Hedge Mode. If you are not in Hedge Mode, click on the settings button on the right side of the trading page as shown below to set your trading preferences. After that, choose the “Close” tab and enter your order.
For more information on how to place an order, please refer to Make a Trade Guide
Take Profit/Stop Loss (TP/SL)
First, please set your trading preferences — TP/SL on Entire Position, or TP/SL on Selected Position — via the settings button on the right side of the trading page.
TP/SL on Entire Position
1. Click the “+Add” button under TP/SL (web)
Click “Set TP/SL” (app)
2. To enter a Take Profit order:
Enter the take profit price, or select a percentage of ROI
Select the type of price you want to trigger
3. To enter a Stop Loss order:
Enter the stop loss price, or select a percentage of ROI
Select the type of price you want to trigger
4. Click “Confirm”
Your Take Profit and/or Stop Loss order has been submitted.
TP/SL on Selected Position
Click the “+Add” button under TP/SL (web)
Click “Set TP/SL” (app)
To enter a partial Take Profit order:
Enter the take profit price, or select a percentage of ROI
Select the type of price you want to trigger
Enter order quantity
To enter a partial Stop Loss order:
Enter the stop loss price, or select a percentage of ROI
Select the type of price you want to trigger
Enter order quantity
Click “Confirm”
In order to better understand the partial TP/SL, let us assume that you are holding a long position of 10,000 BTCUSD contract quantity at $38,883.90.
You can pre-set 2,000 BTCUSD contracts at a position with TP at $40,000, and another 2,000 BTCUSD contracts at a position with SL at $36,000. When the price of BTC rises to $40,000, a partial close will successfully occur and a Take Profit order will be executed.
This feature allows you to place multiple TP or SL orders, so that when the underlying asset price surges or plunges, only a portion of your position will be closed. If a market reversal occurs, you can continue to benefit from your remaining position.
Note:
Under “TP/SL on Selected Position,” up to 20 TP/SL orders are supported for each position. In addition, each order applies to a particular portion of your position (including position, active order, and conditional order).
You can only switch the TP/SL preference when there are no outstanding TP/SL orders.
Changing the TP/SL preference for one trading pair doesn’t affect the preference setting for the other trading pairs.
Quick Trade Functions
Quick Trade Functions are convenient for traders who wish to execute their trading strategies more effectively in the rapidly fluctuating crypto market.
Quick Open
In One-Way Mode, you can also use the Quick Open function to place all or partial orders on the chart. All you have to do is submit a market order in a position in the opposite direction. Simply enter the size of the contract(s) you want to close.
Quick Close
Quick Close is located on the left side of the trading chart, where your current position is displayed. You can click the “X” button to immediately close the position at market price.
A notification box will pop up. After clicking “Confirm” the position will be closed.
Note:
— Quick Trade functions only apply to the desktop version.
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