Quote from: urwhatuknow on November 23, 2013, 09:40:51 AM

Quote from: Progressive on November 23, 2013, 07:47:05 AM

What does the new "Claim" button do? (in margin trading screen)

The claim button allows traders which are in a winning position to close it and to transfer the gain without having to change coins into fiat and then back into coins. The purpose of this option is to avoid losses due to slippage.

Example: I took a long position using 400 usd of collateral for 10 BTC back at the beginning of October when the price was 100 usd each and now the price is 1000 so my P/L tell me I have a profit of 9600 minus my swap position which is 38 usd.
I want to close my position but keep my coins ( I don't want to divest into USD).
By pressing the claim button the software will change into usd only the necessary amount to cover for the loans and the swap and keep the rest into coins.
This basically have the advantage to avoid slippage caused by selling and buying coins again.
The commission applied for such service is equal to the sum of the 2 operations our customer will pay if the trades were be executed on Bistamp ( i.e 2 x 0.35% = 0.7% ).

Please let me know if something is not clear

Have a good day

Giancarlo

This is a seriously great feature!
Thanks guys. Good work.
Now if only I had a leveraged long position at the moment. I meant to set one up back at $600 but was too busy to get to it.... Maybe the next ramp.