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How do I close my position?

  • Updated

Close a position on BitMEX by placing an order for the same number of contracts in the opposite direction. If you hold -500 contracts (short), place a buy order for +500 contracts. The fastest method is clicking the Market or Limit button in the Positions widget. For more control, use the Place Order widget with reduce-only or close-on-trigger enabled.

 

How Do I Know Whether I Am Long or Short?

Check the Size display in the Positions widget on the Trade page.

  • Long position: Displayed with a green long icon or in green as a positive number (e.g. +500).
  • Short position: Displayed with a red short icon or in red as a negative number (e.g. -500).

The Size field also shows the total number of contracts you have open. To close the position, you need to place an order for this exact quantity in the opposite direction.

 

How Do I Close a Position Using the Positions Widget?

The Positions widget provides the most straightforward method. The system automatically handles contract selection, order direction, and order size.

Using the Limit button: 

  • Adjust the pre-filled value next to the button to set your desired limit price. 
  • Click the Limit button to place a limit order to close.

Using the Market button: 

  • Click the Market button and enter the size you’d like to close
  • Your position will be immediately closed at the current market price.
  • If you’re closing from the Positions tab, the method requires no manual input for size and closes the entire position. 

This method requires no manual input for contract selection or size. The system fills in the correct values automatically.

 

How Do I Close a Position Using the Place Order Widget?

The Place Order widget on the left side of the Trade page provides access to a wider range of order parameters.

  1. Ensure the correct contract is selected.
  2. Enter the exact number of contracts equal to your current position size in the Size field.
  3. Click Buy if you have a short position, or Sell if you have a long position.
  4. Consider enabling Reduce-Only or Close on Trigger to prevent accidental position increases and avoid additional margin requirements.

Using reduce-only or close-on-trigger ensures the order can only decrease your position. The system cancels the order automatically if it would increase position size instead.

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