When the position is set to one way mode, opening a trade in the opposite direction (long or short) of an existing trade will result in the immediate closure of the original trade.
For instance, if a BTC/USDT trade is already in a long position and another BTC/USDT trade is initiated in a short position, the exchange will close the long trade immediately irrespective of its profitability.
Our algorithm sends signals for both long and short directions, even for the same coin. Which in case of One Way Mode, if the opposite direction signal is received, the existing trade will be closed, resulting in a loss.
In hedge mode, you can open positions in both long and short directions simultaneously for the same coin.
How to Change Position Mode
You cannot switch to “Position Mode” if any trade is currently open in the account. Before changing the position mode, all existing trades must be closed.
However, I won’t suggest to close the trades at loss.
Here’s what I would suggest to follow :
- Disable auto trading in your current account (Account1) and allow your trades to close with profits. Do not withdraw your funds until all trades are closed. Disabling auto trading will not affect your current trades.
- Create a new Subaccount in Bybit (Account2) and set the hedge mode.
- Add new funds to your Subaccount (Account2) and connect it to BitsTurtle Signals for auto trading.
- Once all trades are closed in your main account (Account1), you can withdraw the funds and use them as desired.
