Post
Topic
Board Project Development
Re: [BETA]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
by
molecular
on 25/04/2013, 16:53:57 UTC
I have some favorable loans used in a long position (85%). I would like to close the position but keep the loans. Is that possible somehow?

I've assumed that that would be the case, but apparently not! I had loans at various rates, with the lowest rates being the first ones I took out. When I closed a fraction of my trading positions later, it closed the more favourable loans as well (a 50% loan, 30 days), leaving the rest of the position with the more unfavourable loans (200%+ loans)! In my opinion this should not happen and the funds should remain available to me, not closed out. Seems like it closes loans in a FIFO fashion, thats why I lost the older, more favourable loans.
go to https://bitfinex.com/credit then Borrowed funds used in a margin position and click on  the loan you want to close

I think you misunderstand. I don't want to close or replace a loan. I want to keep it from auto-closing when I reduce my long position. I had >$4000 in 50% and 85% loans. By reducing my positions these got partly closed and I was (about 2 days ago) stuck with having to borrow at whooping 500% or whatever insane rate (which I didn't do). I would've loved to be able to use my old unclosed loans.

I would've expected the borrowed funds to move from "borrowed funds used in position" to "unused borrowed funds" when I reduce the position. This is not the case, the loans get automatically closed.