Bybit Long Tutorial – Step by Step
In this Bybit Long tutorial we will explain step by step how to open a long position on Bybit in the “derivatives ” section. With a long position you bet on rising prices. Your profit increases with the price.
Long trading requires a little less experience than the use of short positions. However, you should always hedge a long position with a stop loss order to limit possible losses!
If you want to learn how to open a short position and bet on falling prices, we have summarized all the important information for you in our Bybit Short Tutorial.
At a glance – using long position on Bybit
Time needed: 10 Minuten.
The 3 important steps in opening and closing a long position on Bybit explained:
- Market assessment
Use different time levels to analyze the market situation.
- Risk and capital management
Based on your risk tolerance and how confident you are in your market assessment, you should decide the maximum amount you are willing to lose. Now enter the USD amount for your position at Qty (Quantity) and click – after you have decided on a market or limit order – on “By / Long”. Be sure to set an additional stop-loss order!
- Profit taking
To close your position, use a limit or market order under “Close By” in the position display.
How to trade a long position on Bybit
Step 1: Market assessment
Estimate and analyze the market on different time frames. Optimally, you use additional indicators such as the MACD (Moving Average Convergence/Divergence) or the Bollinger Bands.
Only when you have looked at the market from different perspectives, you can be sure that there is actually a valid trend. Based on a good market assessment, we can deal with the topic of risk and capital deployment in the next step.
Step 2: Risk & Capital
When it comes to risk and capital investment, everything depends on one central question: How confident are you in your trade and how much are you willing to lose? You should definitely make this decision before opening your trade. Once you have answered this question, you can choose between a limit order and a market order on Bybit.
- Limit order: A limit order is a type of order that becomes active only when a certain trigger price is reached. You set the price that should trigger the order and Bybit automatically opens your position when your desired price is hit.
- Market order: A market order is a type of order that is executed immediately. The price at which a market order is executed corresponds to the market price at the time of execution.
You enter the quantity at Qty (Quantity / Menge) in USD. This corresponds to the amount of your position in USD. Then click on “Buy / Long” to create your long position or to open a market order.
Step 3: Realizing profits
| Order type | Advantages | Disadvantages |
|---|---|---|
| Limit order | Guaranteed price | May not be executed |
| Market order | Guaranteed execution | Price may vary slightly |
Conclusion – Bybit Long Tutorial
We can conclude from the step by step process that trading a long position on Bybit is actually relatively simple. This works similarly on other platforms and with other asset classes. At this point, we would like to note once again the importance of a stop loss order to cap losses. If you have any further questions or remarks on the topic, as always, we welcome your comments!
Frequently asked questions and answers about long positions on Bybit
Read this article! If you want to find out how to open a short position on Bybit, you can read our Bybit Short Tutorial.
No, as of today (August 2021), the use of Bybit is legal in most countries. However, the use of Bybit is illegal in some countries – such as the United States – which is often circumvented with VPNs.
Long means when you bet on rising prices when trading. This financial instrument is also known as a bullish position or “going long” in finance.
“Letting a position run” is when you are already in a profitable long position and you let it run as you hope for further profits.
A net long or short position describes the balance between the total long and short positions of an account.
Important risk notice:
This service or the provider advertised here is only suitable for professional traders. Users without sufficient experience usually suffer a total losswhile trading here. Trading with leverage is highly risky and leads to poor risk management. Use this service only as a professional trader with sufficient experience in trading and leverage.
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