How to make Perpetual Swaps
The guideline for newbies learning how to do perps on OpenOcean
Last updated
The guideline for newbies learning how to do perps on OpenOcean
Last updated
Before getting started, for new users, you need to create an account and make the first deposit of minimum of $5. Connect wallet, and scroll all the way down on the left bottom and click 'Deposit'.
First, you need to select the market you would like to trade. Then, you choose the Long (Buy) or Short (Sell) from the right top and select the order type - Market or Limit.
Set Position Size in three different ways: - Adjust the position size using the percentage button. - Enter an amount directly. - Use the âLeverageâ slider to increase the trade size.
(Optional) You could also add Take Profit (TP)/Stop Loss(SL): - To secure profits, set a "Take Profit" price. - To limit losses, set a "Stop Loss" price.
After confirming order details, click the Long or Short button to submit, and sign the transaction with your connected wallet.
Once your order is filled, you could manage your positions in the "Positions" list on the left bottom.
Add or Edit Take Profit/Stop Loss: Adjust as needed to manage risk and secure potential profits.
Close Position: Preview the profit or loss, then sign the transaction to exit the position.
View and manage pending orders in the "Orders" list.
Edit or Delete Orders: Modify order settings or remove orders as needed.
View transaction details and transaction hashes in the "Trades" section.
Check and manage assets in the "Balances" section.
Settle Profit/Loss: Collect funds available from completed trades in each market's pool.
Deposit or Withdraw Assets: Select assets to deposit or withdraw from your balance.
