Opening/Closing trades

This guide shows the steps for opening and closing the trade via the deri.trade frontend.

To open and close trades on Deri Trade, you will need:

1. A Web3 wallet e.g. Metamask which is connected to Deri Trade.

2. BNB for BNB Chain in that wallet to pay transaction fees.

3. USDT in that wallet to use as collateral.

Interface Overview

These are the different areas of trading UI that this guide will be using.

Opening a trade

1. Go to our deri.trade.

2. Click "Connect Wallet" in the top right. If this is your first trade, you will need to send a request and approval from your apps to connect your wallet.

1. Clicking on the "Star" turns it into a yellow star, adding the pair to your favorites list.

4. Now, you can set your trade parameters:

1. Trade Type and whether it is long (buy) or short (sell).

   1. Market: To be used to open a trade immediately. It will open at the market price.

   2. 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. Executes at exact price set if price reaches threshold.

   3. Stop Limit: To be used when you want to go long if the price reaches a higher price than present, or to go short if the price reaches a lower price than present. You might want to use this to long a breakout, or short a breakdown. The execution price is the current market price.

2. Collateral: the maximum amount you are risking if you are liquidated. Your collateral x leverage must be above the minimum position size. For example on cryptos, it should be above 300 USDT. This means you can for example open a trade with 10 USDT collateral at 30x, or with 60 USDT at 5x leverage, etc.

3. Leverage: multiply the price volatility up and down to increase exposure.

Order Initiated: This is when your request to execute an order reaches the network.

Closing a trade

1. Click on the 'X' to the right hand side of your trade in Your Position.

The 'X' to the right will let you close your trade.

1. Confirming to close the position will execute right on time.

2. After closed position, the collateral will return to your wallet.