How to Close a Trade on FOMO App: Step-by-Step Guide

Before closing a Trade on the Fomo app

Kindly note that once the transaction is completed, the amount you sold will no longer be part of your token position. And the important thing is to make sure you’re selling the correct token and the correct amount before confirming.

How to Close a Trade on FOMO App

Let’s do it together with real-time screenshots.

Step 1: Open the FOMO App

Both mobile and web app allow you to view your portfolio and activity. Open the FOMO App and log into your account.

If you’ve already deposited funds and bought a token, your holdings will be reflected in your portfolio.

Step 2: Find the Trade You Want to Close

Go to your portfolio and find the cryptocurrency or memecoin you want to sell [should you have many of them].

Tap the asset to open its position.

You’ll want to confirm that you’ve selected the right token before proceeding.

This is especially important if you’re holding several similar-looking tokens.

Step 3: Tap Sell

Once you’ve opened the token or position, select Sell.

This is the action that closes your spot position.

If you want to exit the entire position, you’ll sell the full amount you hold.

And if you only want to take some profit, you can sell part of the position and leave the rest invested.

Step 4: Choose How Much You Want to Sell

You don’t always have to sell everything.

You can decide to:

• Sell your entire position
• Sell part of your position
• Take out your initial investment
• Lock in some profit while keeping some exposure

For example, suppose you bought: $200 of a memecoin and your position is now worth: $600. You could sell the entire $600 position.

Or you could sell enough to recover your original $200 and leave the remaining position running.

The second approach is sometimes called taking your initial out.

You are free to also select in percentage as well.

Step 5: Review the Sale

Before confirming, take a moment to check the transaction details.

Make sure:

• You’re selling the correct token.
• The amount is correct.
• You’re comfortable with the expected proceeds.
• You understand the applicable trading fee.
• You’re happy with the current market price.

This is particularly important when you’re trading volatile memecoins because the action is irreversible.

And kindly note that you might get slightly different amounts because a token can move significantly between the time you decide to sell and the time the transaction executes.

Step 6: Confirm the Sale

Once everything looks correct, confirm the transaction. Click on Sell

After the sale executes, your position will be reduced by the amount you sold.

If you sold the entire position, you have effectively closed the trade.

You can then check your portfolio to confirm that the position has been removed or reduced accordingly, and the cash added to your balance.

How to Close a Trade Without Selling Everything

You don’t have to completely exit a position every time. Sometimes taking a partial profit makes more sense.

Let’s say you bought: $100 and your position grows to: $500. Instead of selling everything, you could sell a portion.

For example: Sell $200 → keep $300 invested

This allows you to lock in some gains while still maintaining exposure if the token continues moving upward.

This is what I did when I traded UniPeg

I first sold to take initial profits – although it was 100% out of 130% and then kept the balance to ride on – which I later sold off for profits too.

What is Fomo App Position Closing Trading Fees?

FOMO charges 0.5% on all trades, or 0.45% if you signed up using a referral link or code. The fee is also reduced significantly for trades of $200 or more.

Should You Sell Everything or Take Partial Profits?

There isn’t one answer that works for every trade.

Sell everything when:

• Your target has been reached.
• Your trade thesis is invalidated.
• You no longer want exposure to the token.
• You need the capital for another opportunity.

Take partial profits when:

• You still believe the token has room to run.
• You’ve already made a significant gain.
• You want to reduce your risk while keeping some exposure.
• You want to recover your initial capital.

For example:

Entry: $100
Current value: $400

You could sell $100 to recover your initial capital and leave the remaining $300 exposed to further upside.

That’s not risk-free; the remaining position can still fall, but you’ve already removed your original $100 from the trade.

How to Close Memecoin Trade in Profits on FOMO

Closing a memecoin trade follows the same basic selling process.

But memecoins require a little more attention because liquidity can change rapidly.

Before selling a large position, consider liquidity, trading volume, current price, price impact, and recent transactions.

A token can show a large profit on your screen, but if liquidity is thin, selling a large position can produce a worse execution price than expected.

This is why you use the Solana memecoin calculator to evaluate your real PNL.

What Is Slippage When Closing a Trade?

Slippage is the difference between the price you expect and the price at which your transaction actually executes.

For example, you might see that your token is trading around: $0.010

You decide to sell a large position. But because there isn’t enough liquidity at that exact price, part of your order may execute at lower prices.

Your final proceeds could therefore be lower than the amount you expected.

This matters particularly with low-liquidity memecoins.

If you’re closing a large position, consider the size of your trade relative to the available liquidity.

Use Your FOMO P&L to Help Manage the Exit

Fomo app provides live P&L information that lets you see how your positions are performing.

This is useful when deciding whether your trade is approaching a predetermined target.

But don’t let the number alone decide everything.

A position showing: +150% doesn’t automatically mean you should sell.

Likewise, a position showing: -20% doesn’t automatically mean you should hold.

Your decision should be based on your trading plan, risk level and the reason you entered the position.

Can You Close a FOMO Trade from Desktop?

Yes. You can open a trade on your phone and close it on your desktop. In fact, in our guide, I bought the $BaseCat token on mobile and closed on Desktop to show us.

This is useful if you entered a trade while away from your computer and later want to manage it from a larger screen.

Meaning, you don’t necessarily have to close the position on the same device you used to open it.

How to Withdraw your Closed Position on Fomo App

Once your sale has executed, the token position you sold is reduced.

If you sold your entire holding, you no longer have that spot position.

Your proceeds become part of your available balance, subject to the applicable transaction and settlement mechanics.

If you’re finished trading and want to move the money out of FOMO, the next step is to withdraw your funds.

See our guide: How to Withdraw from FOMO App

What If Your Trade Won’t Close?

Sometimes a sell transaction may not execute as expected. Don’t immediately assume something is wrong with your account.

Because Crypto transactions can be affected by:

• Market volatility
• Low liquidity
• Slippage
• Network congestion
• Transaction failures

If you’re trying to close a spot position and the transaction fails, check the transaction status and try again only after confirming what’s happening – you can use the calculator to see how much you can sell wit available liquidity without failure.

And if you’re dealing with a Perps position, the situation is different because those positions are provided through third-party protocols and have additional risks.

Closing a Spot Trade vs Closing a Perps Position

These shouldn’t be treated as exactly the same thing.

Spot trade

You buy an asset and later sell it.

Example: Buy SOL → SOL rises → Sell SOL

The sale closes your spot position.

Perps trade

You open a leveraged long or short position through a perpetual contract. Closing that position involves exiting the Perps position rather than simply selling tokens you hold in your spot wallet.

Like we said how making money on Fomo, FOMO’s Perps are provided by third-party protocols such as Hyperliquid and Trade[XYZ], and the product has additional risks involving leverage, funding rates, liquidation and protocol mechanics.

So, if you’re asking specifically about closing a Perps position, make sure you’re using the Perps position controls rather than treating it like an ordinary spot sale.

5 Mistakes to Avoid When Closing a FOMO Trade

1. Waiting for the absolute top

Nobody knows exactly where the top is.

Trying to sell at the perfect price can result in watching a large gain disappear.

2. Refusing to take profit

A trade being profitable doesn’t mean it will remain profitable.

If you have a predetermined target, consider following it.

3. Panic selling

Don’t sell simply because a token drops for a few minutes if your trading plan hasn’t changed.

FOMO identifies panic selling as one of the common emotional trading traps.

4. Ignoring liquidity

A large position in a low-liquidity token can be difficult to exit without significant price impact.

5. Overtrading after the exit

Once you’ve closed a trade, don’t immediately jump into another position just because you feel you need to “make more.”

A Simple FOMO Trade Exit Checklist

Before you close a trade, ask yourself:

• Why am I selling?
• Did I hit my target?
• Has my trade thesis changed?
• Am I cutting a loss according to my plan?
• Should I sell everything or only part?
• Is there enough liquidity for the position I’m selling?
• Have I checked the transaction details?

If you can answer those questions clearly, you’re less likely to make an impulsive decision.

Want a better understanding? Start by downloading the trenches terms and slang and then go on to read the memecoin trading beginner’s course.