How to Close a Spot Trade on Bybit

Closing a spot trade on Bybit can be a seamless experience, especially if you understand the platform’s interface and functionalities. To begin, it's essential to log into your Bybit account and navigate to the trading dashboard. From there, locate your open positions—this is where you will manage your trades. Select the specific position you want to close. Once selected, you will see options to either market sell or limit sell. A market sell allows you to close your position instantly at the current market price, ensuring a quick exit. Alternatively, a limit sell allows you to set a specific price at which you wish to close your trade. If the market reaches that price, your order will be executed. Confirm the transaction by reviewing the details and clicking the appropriate button. After the order is executed, you can check your order history to verify that the trade has been closed. It's important to monitor market conditions and set alerts to stay updated on price movements that could affect your decision to close a trade. For better risk management, consider using stop-loss orders to protect your investments. Overall, closing a spot trade effectively involves understanding your position, making strategic decisions based on market trends, and confirming your orders promptly.