Topic: How to close this position please (Read 160 times)
In my opinion i wont agree you opened that by mistake because you know already you are placing a trade, or lets say you a backtesting to know how futures works and if thats binance platform the tutorial will be at their youtube channel under academy section because this platform you are showing here looks to be KUCOIN.
If you are just new to trading afaik they are offering a video course that helps you to navigate their platform, isolated margin will just use the amount you make a deposit to the futures trading and not the whole balance you have its the Cross trading, you can click the repay for closing the position, seems like they are just change the name so quite difficult to know what are the name of it.
Kucoin Help Center: How to Use Isolated Margin Trading (App).
If you opened a position by mistake, you want to close it, you must accept your loss if it is temporary loss and you want to close your position instantly.
If you want to wait for exit with a draw, let's wait but price maybe moves worse for your position.
So you must decide to exit it now or wait.
If you opened a position by mistake, you want to close it, you must accept your loss if it is temporary loss and you want to close your position instantly.
If you want to wait for exit with a draw, let's wait but price maybe moves worse for your position.
So you must decide to exit it now or wait.
It's very difficult for most people to close their position because they are in at losing position. When they are in that state of hope, they will hold to it until they take more losses and can't hold to it any longer. That happens because they don't accept the risk in the first place. This means that whenever you take a trade, you have to consider it already as a loss. You detach yourself from the outcome of every single trade.
I still don't get how op was able to start a trade he could not end. Well that might be a mistake but I will advise him to try his very possible best to have a little idea on how to trade even though he is nit going to use it. It is important to prevent this kind of mistake in the future. There are people that had made this kind of mistake and suddenly the market turn her back on them making them to lose significantly. This will be an expensive mistake if it even a very huge amount of money that would have ended in loses before coming here to ask questions on what to do to end the trade.
You know that mistake is a part of learning. As such, you should find a way to recover your standing since the did is already done.
Perhaps you should try using copy trading features on Bitget, because I heard it offers such feature to help traders like you succeed without trying too hard.
There's no saying the best strategy you can adopt for future trade unless you learn, try, fail and try again.
Perhaps you should try using copy trading features on Bitget, because I heard it offers such feature to help traders like you succeed without trying too hard.
There's no saying the best strategy you can adopt for future trade unless you learn, try, fail and try again.
I've been here for a few years in crypto Trading I haven't tried margin trading yet because I know my capital will goes to nothing only, instead I do trade on spot most of the time.
You can't learn it if you never trade. But yeah, Margin and derivatives trading need to be approached with extra caution and with only an amount you can afford to lose. Spot trading is sometimes very hard/boring if the market is going sideways or on a downtrend (It's only sweet during an uptrend)This is where some people start to get attached to trading derivatives.
I just ask, do you have a deep knowledge of margin trading? Because if you suddenly come up with no idea or knowledge it is no wonder if you lose the margin trading. As far as I know, you won't get any benefit if you don have any deeper experience there.
Margin tradings are high risky but cross collateral margin is more risky than isolated margin. With isolated margin, you will only lose your collateral in that isolated position but with cross collateral margin, you will lose more because your collateral is cross, not isolated.Quote
I've been here for a few years in crypto Trading I haven't tried margin trading yet because I know my capital will goes to nothing only, instead I do trade on spot most of the time.
Many warnings but many people feel interested in margin tradings because some successful traders show their big profit with margin tradings. It cause newbies, amateur traders to jump into margin tradings as successful traders did not warn newbie traders about risk, forced liquidations.You made good decision by say no with margin tradings by the way.
This is an isolated margin trade which means you borrow money and use your asset as collateral. Simply click the repay button on your open position and pay the loan amount for your margin trade. Margin trade is a little bit complex compared to futures trading but it is less risky since the liquidation margin is much higher than futures trading.
I just ask, do you have a deep knowledge of margin trading? Because if you suddenly come up with no idea or knowledge it is no wonder if you lose the margin trading. As far as I know, you won't get any benefit if you don have any deeper experience there.
I've been here for a few years in crypto Trading I haven't tried margin trading yet because I know my capital will goes to nothing only, instead I do trade on spot most of the time.
Kucoin Help Center: How to Use Isolated Margin Trading (App).
If you opened a position by mistake, you want to close it, you must accept your loss if it is temporary loss and you want to close your position instantly.
If you want to wait for exit with a draw, let's wait but price maybe moves worse for your position.
So you must decide to exit it now or wait.
If you opened a position by mistake, you want to close it, you must accept your loss if it is temporary loss and you want to close your position instantly.
If you want to wait for exit with a draw, let's wait but price maybe moves worse for your position.
So you must decide to exit it now or wait.
I prefer to trade futures instead of margin. That is Binance. You can watch the tutorial from Binance academy: https://m.youtube.com/watch?v=h5wZoNSynh8
That is Kucoin, not Binance, but from the Binance video tutorial, you can understand how to close margin trading by clicking on repay, that is how it works also on Kucoin and on other exchanges. But if you need Kucoin video tutorial, you can watch this video officially from Kucoin: https://youtu.be/C0GZwE1wkSI
https://www.kucoin.com/support/900005034163
Your image was not visible, I had to follow the link and copy the Full BBcode so that other users can see what you're talking about. You opened a marging trade and if you look at your PNL, you already had $3.756 lost which is equivalent to 1.12% of your asset which means the price has go below the amount you bought optimism(OP) because you borrow. It is simple to close, put the total amount of OP you have in your balance and sell/short OP and the USDT you borrowed will be automatically returned to kucoin and your balance will be returned in USDT.
Next time, becareful about Margin trading because you can see that your Liquidation is around $0.925, if it was a highly volatile token, you can lose everything within a blink of an eye, you need to learn basic of trading before you even try Margin because of the risk involve.
Although this depends on the exchange/trading platform you are using as I've not traded on Kucoin before, still, general rules should apply. All you need to do since you have already switched it to the open position without the button to close it. Just click on the position itself and see what happens, it might bring the closing button. If that did not work, you might just long press your mobile gadget if it would bring it.
One or more of those approaches should work for any trading platform.
One or more of those approaches should work for any trading platform.
I prefer to trade futures instead of margin. That is Binance. You can watch the tutorial from Binance academy: https://m.youtube.com/watch?v=h5wZoNSynh8
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