Extend Positions
Managing your FuturesAI Futures position.
Summary
As markets evolve, so do your trading strategies. FuturesAI offers you the ability to extend your open futures positions, enabling users to quickly react to market movements. This guide details the simple process for extending your position, ensuring you can make the most of your trades on our platform.
Extending Your Position
To extend your open position, follow these straightforward steps:
Initiate Extension: From the FuturesAI bot, select the position you wish to extend. Click on the 'Extend' option to start the process.
Choose Extension Duration: You will be presented with options to extend your position by either 1 or 2 days. Select your preferred extension duration. Extending for 2 days offers better value due to a more favorable fee structure.
Review and Confirm: After selecting your extension duration, a summary of the extension fee will be displayed. The fee for extending your position is calculated at half the rate of the initial opening fee for a single day, and even less when extending for two days, making it more cost-effective to opt for a 2-day extension.
Confirmation: After reviewing the fee and confirming your choice, your position will be extended accordingly, and the associated fee will be deducted from your account balance.
Fee Structure
Extending your position involves a nominal fee, strategically set at a lower rate compared to the initial position opening fee. This approach is designed to provide you with a cost-efficient way to maintain your positions in light of unfolding market developments.
1-Day Extension: Involves a fee calculated at 1% of your position's value.
2-Day Extension: Offers a reduced rate, with the fee set at 1.25% of your position's total value, providing a more economical option compared to extending for just one day.
This fee structure is meticulously designed to ensure that you have the flexibility to adjust your trading strategies without incurring prohibitive costs.
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