> For the complete documentation index, see [llms.txt](https://hashhedge.gitbook.io/hashhedge-user-guide/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hashhedge.gitbook.io/hashhedge-user-guide/en/trading-module/margin-mode.md).
# Margin Mode
Hash Hedge offers two margin modes. Pick the one that matches how you want to manage risk.
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## Isolated margin
Each position has its **own separate margin**. The risk of a trade is confined to the margin assigned to that position, which limits how much a single trade can lose.
## Cross margin
Margin is **shared across all open positions** in your account. This can help prevent liquidation when one position is losing, but it also means all positions are exposed if your overall margin level drops too low.
## At a glance
| | Isolated | Cross |
| -------------- | ----------------------------- | --------------------------------------- |
| Margin | Separate per position | Shared across all positions |
| A losing trade | Can lose only its own margin | Can draw on your whole balance |
| Liquidation | Per position | Based on total account margin |
| Best for | Capping the loss on one trade | Avoiding liquidation with spare balance |
## How to switch
1. Go to the **Trade** screen.
2. On the right side, click the margin button (it shows your current mode, e.g. **Isolated**).
3. Choose **Isolated** or **Cross**.
4. Click **Ok**.
The margin button on the Trade screen
Switching between Cross and Isolated
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## Rules to know
* **You can't use both modes at once.** If a position is open in one mode, new orders can't be opened in the other. To switch modes, first **close all positions and cancel all pending orders**.
* **In Cross margin**, the P\&L of long and short positions is netted, which affects your overall liquidation price.
* **In Isolated margin**, each position has its own P\&L and its own liquidation conditions.
