How to Open a position?
Now that you are ready to start your trading journey in the platform, let us guide you on how you can open a position in Bybit.
Bybit's Order Zone is located in the upper right corner of the platform. To successfully place a new order in the Order Zone, traders would just need key in these few important inputs.
1) Bybit's Margin Modes
When placing a new order, traders will need to select from the 2 margin modes on Bybit:
1) Cross Margin = The default margin mode on Bybit. Under this mode, traders will utilize their entire account's balance to protect their existing open position from liquidation. This means that when the position is liquidated, traders will lose their entire balance.
2) Isolated Margin = The second margin mode on Bybit. Under this mode, traders will only lose whatever they committed as position margin for their existing open position when the position is liquidated.
For more details, please visit What is Isolated Margin/ Cross Margin?
2) Open Tab and Order Direction
After selecting from the 2 margin modes, click on Open Tab and proceed to select the Order Direction by simply clicking on "Buy" or "Sell".
3) Order Type
After selecting the direction of the order, traders can continue choosing the Order Type they wish to open according to their trading needs. To know more about the order types, please visit What is a limit/market/conditional order?
4) Order Price and Contract Size
Based on the order type traders have selected, they can now proceed to key in the the contract size (Qty BTC), Order price (USDT) and/or the Trigger price (USDT) as applicable. Please note that USDT contracts are quoted and settled in USDT. Please visit USDT Contract FAQ for more information.
5) Setting Take Profit and Stop Loss Order
Setting up Take Profit and/or Stop Loss order is made easy on Bybit. Traders can achieve this by enabling the TP or SL USDT box and keying the Take Profit and/or Stop Loss price either by selecting from the percentage (%) bar or by manually placing the TP and/or SL price.
6) Time in Force (TIF (only for limit order types)
When placing an order, traders can also choose from different 'Time in Force' instructions to indicate how long an order will remain active before it is executed or expires. Bybit offers three (3) different 'Time in Force' order instructions, namely:
1. 'GTC (Good Till Filled)
2. 'IOC' (Immediately filled Or Cancelled)
3. 'FOK' (Filled Or Kill)
For more information, please read What are time in force (TIF): GTC IOC FOK?
After setting up all the content and preferred conditions for the order, traders can then proceed to click on the Buy and/or Sell button to confirm placing the order.
Can I hedge my position at Bybit?
Yes, the platform supports hedging positions for USDT contracts.
How does hedging look like in Bybit?
When hedging at Bybit, traders can use different leverage to hold a long & a short position at the same time on an isolated margin.
Under isolated margin, the hedged positions have their own liquidation price. The hedged positions are independent and not related, hence the positions can be liquidated individually.
Under cross mode, perfectly hedged positions will never be liquidated. When the positions are not fully hedged, only the Exposed Position Size (EPS) that are un-hedged may be subjected to liquidation, and the positions that are hedged will not be affected.