BVOX Futures: How to Open and Close Positions?

Dear BVOX User,

Perpetual contract users can profit from the rise or fall of digital asset prices by buying long or selling short. Opening includes: [buy long] and [sell short]; closing includes: [sell long] and [buy short]. Here we use perpetual contracts as an example to demonstrate how to open and close positions.

APP

Opening a Position

1. Buy Long

When you predict that the market will rise, you can choose to go long. Here we use the BTCUSDT perpetual contract as an example to demonstrate the operation.

Go to the [Contract] page, click the top left corner of the currency pair box [BTCUSDT perpetual].

Select [Cross/Isolated], [Leverage], [Limit Order] - Enter [Price], [Quantity] - Click [Buy Long].

Note:

• Difference between Cross and Isolated: In Cross mode, all available balances in your account will be used as position margin. In Isolated mode, the margin locked when placing an order is the maximum loss for this position.
• Leverage: The BTCUSDT perpetual contract supports a maximum leverage of 125 times. The higher the leverage, the higher the potential profit, but also the greater the risk.
• Users can set take profit and stop loss at the same time when opening a position to avoid risks and lock in profits.
• If the USDT quantity is insufficient, the balance may be insufficient to place an order. Users can adjust the leverage ratio or increase the available USDT quantity to complete the order.
• Due to the leverage in contract trading, while expanding the profit, the risk is also increased. If there is a significant fluctuation in the BTC price, your position is likely to be forced to close, so you should pay attention to market fluctuations and set take profit and stop loss in time.

2. Sell Short

When you predict that the market will fall, you can choose to go short. Here we use the BTCUSDT perpetual contract as an example to demonstrate the operation.

Go to the [Contract] page, click the top left corner of the currency pair box [BTCUSDT perpetual].

Select [Cross/Isolated], [Leverage], [Limit Order] - Enter [Price], [Quantity] - Click [Sell Short].

Closing a Position

1. Long Position, Sell Long

Perpetual contracts can be closed in two places: the contract page and the specific position page. Users can choose according to their own situation.

Close a long position on the contract page: Click [Close] - Select [Limit Order] - Enter [Price], [Quantity] - Click [Sell Long].

Close a long position on the specific position page: Click [Position] - Select the specific position to be closed, click [Close] - Enter [Price] or click [Market Order], [Quantity] - Click [Close].

Note: If there is a significant fluctuation in the market, the order may not be filled.

2. Short Position, Buy Short

Close a short position on the contract page: Click [Close] - Select [Limit Order] - Enter [Price], [Quantity] - Click [Buy Short].

Close a short position on the specific position page: Click [Position] - Select the specific position to be closed, click [Close] - Enter [Price] or click [Market Order], [Quantity] - Click [Close].

Note: Users can also choose to close the position by setting take profit and stop loss to reduce losses in time or lock in profits.

Select the specific position to be closed, click [Take Profit/Stop Loss] - Enter [Take Profit Price], [Stop Loss Price], click [Confirm].

Note: If there is a significant fluctuation in the market, there may be situations where orders cannot be filled.

2. Short position, buy to close the position

To close a position on the contract page: click on [Close] - select [Limit Order] - enter [Price] and [Quantity] - click on [Buy to Close].

To close a specific position on the positions page: click on [Positions] - select the position to close - click on [Close] - enter [Price] or click on [Market Order] and [Quantity] - click on [Close].

Friendly reminder: Users can also choose to close positions using [Take Profit] or [Stop Loss] to reduce losses or lock in profits in a timely manner.

Select the position to be closed and click on [Take Profit] or [Stop Loss] - enter [Take Profit Trigger Price] and [Stop Loss Trigger Price] - click on [Confirm].

Web Version

Opening a Position

1. Long position, buy to open

Using the BTCUSDT perpetual contract as an example: click on [Perpetual Contracts] on the top left of the homepage - enter the trading page.

Select [Cross/Isolated], [Leverage], [Limit Order] - enter [Price] and [Quantity] - click on [Buy to Open] - [Confirm to Open].

2. Short position, sell to open

Using the BTCUSDT perpetual contract as an example: click on [Perpetual Contracts] on the top left of the homepage - enter the trading page.

Select [Cross/Isolated], [Leverage], [Limit Order] - enter [Price] and [Quantity] - click on [Sell to Open] - [Confirm to Open].

Closing a Position

1. Long position, sell to close

Click on [Positions] - select the position to be closed - enter [Price] and [Quantity] - click on [Close].

Friendly reminder: Users can also choose to close positions using [Take Profit] or [Stop Loss] to reduce losses or lock in profits in a timely manner.

Click on [Positions] - select the position to be closed - click on [Take Profit] or [Stop Loss] - enter [Take Profit Trigger Price] and [Stop Loss Trigger Price] - click on [Confirm].

2. Short position, buy to close

Click on [Positions] - select the position to be closed - enter [Price] and [Quantity] - click on [Close].

Friendly reminder: Users can also choose to close positions using [Take Profit] or [Stop Loss] to reduce losses or lock in profits in a timely manner.

Click on [Positions] - select the position to be closed - click on [Take Profit] or [Stop Loss] - enter [Take Profit Trigger Price] and [Stop Loss Trigger Price] - click on [Confirm].

BVOX Team

 

Risk warning: The cryptocurrency market has high risks, please understand the risks and invest in products you are familiar with. Please carefully consider your investment experience, financial situation, investment objectives, risk tolerance and consult professional independent investment experts to make a decision before investing. The information presented on this page is for informational purposes only and should not be construed as any investment advice. Past earnings performance is not indicative of future earnings. You should be aware that the market value and returns of investment products fluctuate and you may lose the amount you invest. You are solely responsible for your investment decisions. BVOX is not responsible for any possible investment losses.