Opening/Closing Positions
Last updated
Last updated
Opening and closing a position functions similar to any other perps exchange.
Trade Type and whether it is long (buy) or short (sell).
Market: To be used to open a trade immediately.
Limit: To be used when you want to go long at a lower price than present or to go short if the price reaches a higher price than present.
Stop: To be used when you want to go long if the price reaches a higher price than present (breakup) or to go short if the price reaches a lower price than present (breakdown).
Conditional orders execute at an exact price, if the price reaches the condition. Fill may slightly vary depending on the Oracle price at the time the order execution is complete.
Collateral: Maximum amount you are risking if you are liquidated. Your collateral to open your planned trade.
Leverage/Positions Size: Traders can either pick a leverage multiplier or set their position size changes in one field will always correspond with changes in the other.
Your Stop Loss and Take Profit. You are not obligated to use a stop loss, but this allows you to set up the entire trade before submitting an order.
Closing an open position if all margin is exhausted or the trader doesn't have enough margin to reserve to execute the trade, the close has to be done through the close position modal by selecting close on the positions table on an open position.
Traders can only close a position by opening the opposite direction of the current trade only if they have sufficient margin for the order to reserve for execution.
