BTSE’s web interface provides two distinct features to aid in reducing or closing out a position. Understanding how to utilize these tools effectively can help you manage your investments more efficiently. Here’s a step-by-step guide on how to leverage these features:
1. Utilizing the Take Profit / Stop Loss (TP/SL) Order
The TP/SL order is a handy feature designed to help close out your entire position. We highly recommend using this feature to secure profits or limit losses. Here’s how to do it:
- Set your desired exit parameters, such as ROE%, % change in price, or P&L.
- Once these conditions are met, your entire position will be closed automatically.
- This process is unaffected by any subsequent increases or decreases in position size.
2. Employing the Close Position Feature
Located on the right-hand side of your position dashboard, the Close Position feature allows for a more manual approach to closing out your position based on a limit order:
- Place your limit order to specify the price at which you wish to close your position.
- Once the limit order is fulfilled, your current position will be closed.
- However, note that if you opt to increase your position size after placing the limit order, only the original position size will be closed out when the limit order is fulfilled.
By familiarizing yourself with these features on BTSE’s web interface, you can better manage your trading activities and optimize your investment strategy. Whether you prefer the automatic approach of the TP/SL order or the more manual control offered by the Close Position feature, BTSE provides the tools necessary to effectively manage your positions.
Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at feedback@btse.com or on X @BTSE_Official.
Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.
