Managing a Position (PnL, Margin, Risk)

What this step does

Managing a position means understanding how it behaves after it is opened.

Once your position is live, it becomes part of a continuously updating system. Its value, risk, and requirements are not fixed - they evolve with every price change.

This is not something you manually trigger. The system updates your position automatically as conditions change.

Step 1 - View your active position

Screen: Positions tab / active position panel

Open position with live PnL, entry price, and size metrics.

Your position appears in the interface as a set of live metrics.

Here is how to read each field:

• Ticker - the market your position belongs to (for example, BTC).
• Size - how large your exposure is in that market.
• Position value - the notional value of your current exposure.
• Entry price - the average price where the position was opened.
• Mark price - the current reference price used to evaluate the position.
• PnL - unrealized profit or loss based on the distance between entry and mark price.

These values update continuously as the market moves.

Step 2 - Understand margin

Screen: Position controls (Liq. Price / Margin / Funding / Close / TP-SL)

Position controls row with Liq. Price, Margin, Funding, Close actions, and TP/SL.

This row combines risk state and actions. Read it left to right:

• Liq. Price - boundary where the system can no longer keep the position valid.
• Margin - current collateral support (and mode, e.g. Cross) behind the position.
• Funding - periodic transfer component that affects net position economics over time.
• Close: Limit / Market / Reverse - direct actions to reduce, close, or flip exposure.
• TP/SL - predefined exit conditions for profit capture or downside control.

Margin is not a stored value - it is a condition that determines whether your position can continue to exist.

The core logic here is margin validity: margin determines whether your position can continue to exist.

It represents the relationship between:

• your collateral
• your position size
• current market conditions

As the market moves, this relationship changes automatically.

This is why risk is continuous: a position is valid only while margin requirements are satisfied.

Step 3 - Close or adjust your position

Screen: Position actions (Close / TP-SL / Reverse)

Position controls row with Close / TP-SL / Reverse actions.

From this panel, you can change or exit your position.

Each action directly changes your position - there is no separate "management" layer.

There is no separate "closing system" - only different types of actions.

Close All

Screen: Confirm close all

Confirm Close All modal.

This action closes all your open positions immediately.

What happens:

• the system closes 100% of your open positions
• any active TP/SL orders tied to those positions are canceled
• your market exposure goes to zero across all open positions

This is a full account-level exit from all active positions.

Market Close

Screen: Market close modal

Market Close modal.

Market close reduces or closes your position at the current market price.

You choose:

• how much of the position to close (size or %)

What happens:

• the order is executed immediately
• your position size decreases (or becomes zero)
• your balance is updated

This is the fastest way to exit.

Limit Close

Screen: Close modal (Limit mode)

Close modal in Limit mode with limit price input.

This uses the same panel as Market Close, but switched to Limit mode with a limit price input.

Limit close places an order to close your position at a specific price.

You choose:

• the price
• how much of the position to close

What happens:

• the order sits in the order book
• it executes only if the market reaches your price
• until then, your position remains active

This gives control over exit price, but not execution certainty.

Reverse

Screen: Reverse action (same order panel)

Reverse action in position controls.

Reverse flips your position direction.

This is used when you want to quickly switch direction without manually closing and reopening.

What happens:

• your current position is closed
• a new position is opened in the opposite direction
• this happens as a single combined action

Example:

• Long -> becomes Short
• Short -> becomes Long

This is not a modification - it is a full state transition.

Take Profit / Stop Loss (TP/SL)

Screen: TP/SL modal

TP/SL modal.

TP/SL defines automatic exit conditions.

TP/SL works by placing conditional orders that execute when price levels are reached.

You set:

• take profit price (or %)
• stop loss price (or %)

What happens:

• the system monitors price conditions
• when a condition is reached, a closing order is triggered
• the position is reduced or closed automatically

These are conditional actions, not guarantees of exact execution price.

What this means

Managing a position is not about "holding" or "closing" it as separate processes.

It is about interacting with a system where:

• positions continuously evolve
• risk is continuously evaluated
• and every change comes from a new action

Opening, adjusting, and closing all follow the same rule:

Key idea

Managing and closing a position are not separate processes - both are just actions that change system state.

Reinforcement

Position management follows the same logic:

• you submit an action
• the system applies it
• the state updates immediately

There is no hidden control layer.

Next step

→ Continue to Withdrawal