Closing a position
Closing your FuturesAI Futures position.
Summary
The FuturesAI bot offers a flexible trading environment, allowing users to close their futures positions ahead of schedule. This feature is designed to give traders more control over their investments, enabling them to respond proactively to market changes or lock in profits as they see fit. Below, we detail the process for closing your position early and how the fee structure is determined.
Can You Close Positions Early?
Yes, closing positions early is a feature supported by the FuturesAI bot. This option provides traders with an additional layer of flexibility, allowing for strategic adjustments to their trading plans based on current market conditions or personal investment strategies.
Closing a FuturesAI Futures Position
To close your FuturesAI futures position early, follow these steps:
Initiate Close: Navigate to your open positions and select the one you wish to close. Choose the 'Close Trade' option to begin the closure process.
Review Penalty Fee: Upon initiating the close, you will be presented with the details of the current worth of your position and the applicable penalty fee. The fee for closing a trade early varies dynamically between 3-5% of the trade's original value, depending on the profit/loss status and the amount at the time of closing.
Confirm Closure: After reviewing the penalty fee and the current value of your trade, confirm your decision to close the trade early. The FuturesAI bot will then calculate the final amount considering the penalty fee and update your balance accordingly.
Trade Closure Confirmation: Once the trade is closed, you will receive a confirmation message detailing the original position value, the profit/loss, the penalty fee applied, and the total amount returned to your balance. A trade closure image is generated for easy social sharing, tag us @TradeWithFAI and #tradewithfai.
Understanding the Fee Structure
Closing a trade early with the FuturesAI bot incurs a fee that is dynamically calculated based on the trade's performance at the time of closure. This fee structure is designed to be fair and transparent, ensuring that traders are informed of the costs associated with early closure:
Dynamic Fee: Ranges between 3-5% of the trade's original value, calculated based on current profit/loss and the amounts involved.
Fee Calculation: The exact fee percentage is determined at the time of closure, providing traders with the flexibility to decide the best time to exit their position.
This approach allows traders to make informed decisions about managing their positions, balancing potential profits against the costs of early closure.
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