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Main => Technical Support => Topic started by: algobait on June 17, 2015, 07:37:49 pm

Title: How do I manually cover a short (in bitUSD)?
Post by: algobait on June 17, 2015, 07:37:49 pm

 I was filled on a short bitUSD order and on a buy bitUSD order (trying to make a market in small size).  I now see an asset as well as a short position in bitUSD.  How do I get these two positions to offset each other? 

Secondly, would it be better to hold this position since yield is around 5 on the asset but lower on my short?

Title: Re: How do I manually cover a short (in bitUSD)?
Post by: kenCode on June 17, 2015, 07:41:17 pm

Hi algobait and Welcome!
I'll page the Trading guys for that one, hold tight..
Thanx for your patience and again, Welcome :)
  -ken

Title: Re: How do I manually cover a short (in bitUSD)?
Post by: Xeldal on June 17, 2015, 09:07:51 pm

Quote from: algobait on June 17, 2015, 07:37:49 pm

I was filled on a short bitUSD order and on a buy bitUSD order (trying to make a market in small size).  I now see an asset as well as a short position in bitUSD.  How do I get these two positions to offset each other? 

Secondly, would it be better to hold this position since yield is around 5 on the asset but lower on my short?

So long as you have the same amount of bitUSD as you went short, they are offsetting each other already.  You don't need to do anything else.

In order to close/cover your short order all you need is that amount of bitUSD, which you're saying you've already purchased. So hang on to the bitUSD, thats all you need.


You'll earn interest on your bitUSD balance.  So long as its more than you are paying to maintain your short, it is profitable to do so.

Title: Re: How do I manually cover a short (in bitUSD)?
Post by: Shentist on June 17, 2015, 09:14:47 pm

Quote from: algobait on June 17, 2015, 07:37:49 pm

I was filled on a short bitUSD order and on a buy bitUSD order (trying to make a market in small size).  I now see an asset as well as a short position in bitUSD.  How do I get these two positions to offset each other? 

Secondly, would it be better to hold this position since yield is around 5 on the asset but lower on my short?

if you go to the "cover" button you can use your bitUSD to cover the short position. With both asset and short, you are market neutral, so if your goal is the interest this would be a good strategy.

Title: Re: How do I manually cover a short (in bitUSD)?
Post by: algobait on June 18, 2015, 04:18:27 am

Thanks a lot for the helpful explanations.  I've noticed some quirks with shorting that I couldn't find a good explanation for on the wiki:

• When my short limit order is filled, it usually is for less (in bitUSD) than the total that I had asked for (although it is at the right price).  What happens to the remainder of my order?  Is this because my collateral was not enough (I used whatever auto filled in BTS collateral after typing in a bitUSD quantity)?
• Is there a good way to see a list of my short orders that have been filled?  The transactions under accounts only shows buys and sells.  The transactions under Dashboard shows does howevershow my short orders and fills.
• How can I see my aggregate short position?  Or my net position of shorts and longs?  I do see each outstanding short under cover but it doesn't specify which account it is for