Position mode can be set to either "Hedge Mode" or "One-Way Mode".
How to change Position Mode on your account?
You can set it through your Cornix trading bot:
Main Menu > Account Configuration > Account name > Margin > Position Mode.
or through your Web Dashboard:
Accounts > Click the account > Under 'General' scroll down to 'Account Configuration' > Position Mode > Make the desired changes > click Save.
Or through your Mobile App:
Menu > Accounts & Configuration > Click the account > Under 'General' scroll down to 'Account Configuration' > Position Mode > Make the desired changes > click Save.
How does Position Mode work?
"Hedge Mode" means that you can simultaneously open or hold both long and short positions under the same symbol or contract, while "One-Way Mode" means that you can only have either a long or short position for a specific symbol or contract at the same time.
You can switch between these modes for Accounts (Clients) that are connected to exchanges that support "Hedge Mode" - currently ByBit USDT, Binance Futures, and Binance Coin-Futures.
On ByBit USDT you can set "Hedge Mode" or "One-Way Mode" for each symbol separately, while on Binance it's either "Hedge Mode" or "One-Way Mode" for all symbols. Please note that before switching between these modes, all trades, positions, and orders must be closed.
Setting the position mode under Cornix configuration will automatically change the mode on your account directly on the exchange. When changing it directly on the exchange it won't adjust Cornix configuration.
For more information on how to change your trading preference from "One-Way Mode" to "Hedge Mode" on Binance Futures and Bybit USDT.