Position Modification
Learn how to modify existing positions using market orders or conditional orders.
Last updated
Learn how to modify existing positions using market orders or conditional orders.
Last updated
Position Modification allows traders to increase or decrease existing positions without depositing additional margin. Traders may use market orders to increase or decrease their position size at any time, or use conditional orders to scale in and out of positions automatically based on predefined triggers.
In order to use Position Modification without allocating additional margin, the resulting position must be below the maximum leverage value for new positions. Fees for position modification are only paid for the difference between the initial and resulting positions. For example, increasing the size of a 1 ETH long to 3 ETH, a trader will pay fees associated with a 2 ETH trade.
The Position Modification modal can be accessed by selecting the pencil icon next to the position size of any open position, allowing any order to be modified through market or limit orders.
To modify a position within the modal:
Select Increase or Decrease at the top of the modal to change your absolute exposure.
Using the entry box or slider, select the amount to increase or decrease.
Select Market or Limit order.
If you select Limit, enter your execution price.
Verify your order details are correct, and confirm your order.
The Take Profit / Stop Loss modal is another way to modify existing orders, and is selected using the right-most pencil icon under TP/SL. These order types reduce position size via conditional orders, and can partially reduce or close an existing order.
To set TP/SL within the modal:
Select Entire Position or Partial Position.
If desired, enter a price and a size for your Take Profit order.
If desired, enter a price and a size for your Stop Loss order.
Verify your order details are correct and confirm your order.
Orders with unfilled details will not be placed. For example, leaving Take Profit unfilled while filling Stop Loss data will only set a Stop Loss.
Using these tools, traders can finely tune their positions and their strategies without the need to allocate additional margin to their positions. For more information on order types, see Conditional Orders.
