Open Position
You can open your position with following instructions.
Open Position
1. Select Market
Select the market or underlying asset you want to trade.
2. Before opening a position, you must first decide on 'Long' or 'Short' side.
Buy / Long Position
You buy an asset expecting its price to rise. You can make a profit if the price goes up.
If the token price goes down, you lose your money.
Sell / Short Position
You bet an asset's price will fall. You can make a profit if the price goes down.
If the token price goes up, you lose your money.
3. Select Order Type
Select the Order Type(Market Order / Limit Order)
Market Order : A market order is executed immediately at the current market price on a Perp DEX that provides liquidity.
Limit Order : A limit order sets a specific price for Long / Short, executing only when the market meets that price on Perp DEX that provides liquidity. Note: If it hits outside your slippage tolerance, the order won't execute.
4. Select Collateral, Position size using Leverage.
Set the collateral amount and leverage once you decide which side to trade.
"Select quantity of tokens for collateral."
"Choose your leverage, which will then set the position size."
Leverage:
Leverage refers to borrowing extra funds to increase trade size and potentially amplify your profits.
For example, using 10x leverage means trading ten times more than your initial collateral. DVX supports 40x leverage trading now.
Using leverage can boost profits and increase the risk of significant losses and possible liquidation if the market turns against your position, so it's essential to use it cautiously.
5. Review your Order & Open Position
After clicking the ‘Order’ button, a transaction approve button will appear in your wallet. Click 'Approve' to open the position.
Disclaimer
DVX supports the setting of slippage tolerance now and we’ve connected GMX v1 and MUX now. GMX support the slippage tolerance setting, but the MUX doesn’t have. Depending on where the position was opened, you may experience slippage that exceeds your preset slippage tolerance. If it hits outside your slippage tolerance, the order won't execute.
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