> For the complete documentation index, see [llms.txt](https://fx100.gitbook.io/fx100-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://fx100.gitbook.io/fx100-docs/trading/managing-a-position.md).

# Managing a position

Reading the position panel and acting on what it tells you.

## The position panel

| Field                      | Meaning                                                                                                                                                           |
| -------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Size**                   | Notional exposure, in USD and in units of the underlying.                                                                                                         |
| **Collateral**             | USDC backing the position.                                                                                                                                        |
| **Entry price**            | Your actual execution price, spread included. Never re-marked.                                                                                                    |
| **Mark price**             | Current oracle price. Drives unrealized PnL and liquidation.                                                                                                      |
| **Leverage**               | `sizeInUsd / (collateral − pendingFunding)`. Excludes PnL, so it does not move with price. See [leverage and margin](/fx100-docs/trading/leverage-and-margin.md). |
| **Liquidation price**      | The oracle price at which the position becomes eligible for liquidation.                                                                                          |
| **Liquidation protection** | Countdown on the 15-minute window. Zero means standard liquidation rules apply.                                                                                   |
| **Funding**                | Pending funding. Negative means you are paying, positive means you are receiving.                                                                                 |
| **PnL**                    | Pure price PnL. Not what you receive on close.                                                                                                                    |
| **Est. receive**           | What actually lands if you close now, after impact, fees, and funding.                                                                                            |

## Reading the protection countdown

While the countdown is running, the position cannot be liquidated. Price can cross your liquidation price without consequence.

The countdown is not a reason to stop watching. It is a window in which to act. If price has crossed your liquidation level and the timer is running down, you have two moves — add margin, or reduce leverage — and a hard deadline for making them.

When the countdown reaches zero, [standard liquidation](/fx100-docs/how-the-system-works/liquidation.md) applies immediately if the position is below the maintenance threshold.

## Adding margin

Increases collateral, moves the liquidation price further from current price, lowers displayed leverage. No position fee, because notional size is unchanged.

This is the cheapest way to defend a position under pressure.

## Reducing leverage

Cuts notional size. Charges a position fee on the reduction and realizes a proportional share of PnL and closing impact.

## Adding to a position

Increases notional size at the current execution price. Your entry price becomes a weighted average of the old and new fills.

{% hint style="warning" %}
Adding does **not** reset the liquidation protection window. Protection is timed from the original open.
{% endhint %}

## Setting TP and SL

Take profit and stop loss are trigger orders attached to the position. Once triggered they fill at market — the trigger price is not a cap on the fill. See [order types](/fx100-docs/trading/order-types.md).

Both can be edited or cancelled while pending.

## Reading the numbers

**"My leverage went up and I didn't do anything."** Funding accrued, net collateral shrank, ratio rose. Check the liquidation price for real risk.

**"My PnL is positive but Est. receive is lower."** Closing fee and closing impact are deducted on close and are not in the PnL figure. See [PnL and closing](/fx100-docs/trading/pnl-and-closing.md).

**"My limit order filled at a worse price than I set."** Trigger orders fill at market. See [order types](/fx100-docs/trading/order-types.md).

**"My order was cancelled instead of filled."** Slippage tolerance exceeded, insufficient liquidity, or a stale oracle price.