At the time of introducing Bybit's USDT contract, we have also simultaneously launched 3 different Quick trading functions to place orders on the chart, which is convenient for all traders to execute their trading strategies more effectively in the rapidly fluctuating market.
There are now 3 quick ways to place an order on the chart:
1. Quick Open
The function of quick open order is located at the upper right corner of the Bybit trading chart. Once traders have pre-set the size of the contracts, traders will be able to open a Buy/Sell position using market order by one click.
a. A market order will be executed at the best available price in the order book. The actual execution price might differ from the price shown on the quick entry zone.
b. By using quick entry, clicking on Buy or Sell will cause traders to open a position or add position size in the same direction only and will not close the opposite direction position. If traders want to close a position, the trader will have to go to the position tab, the order zone or "Quick Close" as mentioned below.
2. Quick Close
On the left side of the trading chart, where the trader's current position is being displayed, the trader can click the "X" button to close the position by market price immediately.
3. Quick Reversal
The quick reversal function can be found on the left of the 'closing button' on the chart position display. Traders can click onto this button to create a quick reversal position, which would be convenient for traders to quickly reverse a position when the market condition changes. With this function, it is no longer necessary to close an existing position before opening a position in the opposite direction.
If the trader currently holds a Long position of 0.1 BTC and no Short position.
By clicking onto the quick reversal function for the Long position, the system will directly submit a 0.2 BTC short market order, which will first close the existing 0.1 BTC Long position and then open a new Short 0.1 BTC position in the opposite direction. Once this has been executed, the new position will be a 0.1 BTC in a Short position.
If the trader currently holds a Long position of 0.2 BTC and a 0.1 BTC Short position.
By clicking onto the quick reversal function for the Long position, the system will directly submit a 0.4 BTC Short market order, which will first close the existing 0.2 BTC Long position and then open an additional Short 0.2 BTC position in the Short direction. Once this has been executed, the new position will be a 0.3 BTC in a Short position.
*** Please take note that the purpose of a quick trading function is to facilitate the trader to entry/close/reverse a position in one click, hence there will not be any order confirmation windows pop-up. Traders are advised to exercise caution. ***
Note: The use of the 3 functions above are limited to a maximum order size of 100 BTC. For Positions over 100 BTC that do a Quick Reversal, the system will close 100 BTC positions automatically and the reverse-direction opening of the new position will fail.