Placing your first trade
- Learn how to navigate different markets
- Learn how to place trades through the cypher trading terminal
Once you have selected the market and the contract you would like to trade, you will place your orders from the right side of the webpage.
Here are some of the decisions (not necessarily in this order) that you will need to make before placing a trade.
- 1.Short or long?
- 2.Market order or limit order?
- If a market order is selected, your order will attempt to fill at the current market price. If a limit order is selected, you will need to decide the price at which you would like your order to get filled
- If you decide not to use leverage, simply de-select the ‘Leverage’ button beneath the position sizing slider
- 4.Immediate or Cancel (IOC) order on or off?
- When toggled on, an IOC order will cancel your order if the order is not filled within a few seconds. This is especially beneficial if you are trading extremely volatile assets and want to ensure you receive an accurate price
- 5.Post Only order on or off?
- When toggled on, a Post Only order will ensure your order is posted ONLY if it can enter the orderbook (i.e. your order is a maker). Once the order is posted, it will then sit on the orderbook until it is filled.
After you place your order and approve the transaction from your wallet, you should see a confirmation receipt pop up in the right corner of the webpage.
To view your newly opened position, navigate to your ‘Portfolio’ on the website header to view your positions at the bottom of the webpage.