Start a New DCA Cycle: Quickly Close Positions with Market Order on Bitsgap
The “Close position by market” feature allows you to close a DCA bot position by buying or selling a traded currency at the current market price. With just a few clicks, you can initiate a new bot cycle without having to cancel and restart your bot, simplifying the process.
In this article, you will discover how to close a DCA bot position utilizing the “Close position by market” feature, and how this affects your bot’s performance.
Market Order to Close DCA Bot Position
You may close your DCA position using the market order. To do so, follow the steps below:
1. Select the bot you wish to close from the list of active bots, and click the [Bot actions] button or three dots on the right, as shown below.
Once you initiate the closing process, the following steps will occur:
- Any outstanding DCA and Take Profit orders will be canceled.
- A market order will be placed for the full volume of the position, which will be filled at the current market price.
- The system will lock in the final PNL position and update the bot's total PNL. In the "Bot orders" window, the market order will be marked as a "Manual close" status.
- The bot will launch a new cycle based on its initial configuration, starting with a fresh set of DCA orders.
By using the "Close position by market" feature, you can close a DCA bot position quickly and easily, without needing to cancel and restart your bot.
Disclaimer
Please note that if your bot is trading on a highly volatile market, the final buy or sell price may differ from the one displayed in the preview window. This is because the market price can fluctuate significantly between the moment you confirm the position closing and the actual order execution on the exchange. As a result, the actual execution price may be higher or lower than the one displayed in the preview window.
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