Question for high IQ math people:
> I go long.
> I set TP for 1%, at which point I want to fully hedge the position.
Do I set a limit sell order for 201% of the position to achieve this?
If not, what's correct?
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Depends on what "size" means.
On FTX, "size" means "number of the thing you're trading".
On inverted orderbooks, "size" generally means "number of the currency you're using"--often USD.
And what do you mean by "fully hedge"? Do you want to end with pure USD or BTC?
Oh wow, thank you for chiming in!
I am looking to be 100% in synthetic USD after completing a trade. Does that clarify?
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Sorry I dont think I answered for “size”.
So let’s say “size” = 100% of balance @ execution price (with BTC as collateral)
Then I successfully complete a long that I close at +1% from avg entry
I am looking to close it and be fully hedged accounting for the new profits
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