3. How to trade (Conditional)
Upon clicking "Trade" in the top right hand corner, you'll be launched to the trade interface. From this page you'll be able to see all markets, all current positions, pending orders, and all past trades.
At the top of the page, you can select the market you'd wish to trade from a drop-down menu: ETH/USD, BTC/USD or LINK/USD. Once selected, all the relevant information will update.
After you've chosen the market, you'll need to select whether you're going long or short. Long and Short refer to Leveraged Trading.
Confirm your collateral selection and quantity. Followed by choosing your Leverage, either by using the Leverage Slider or entering your Leverage amount (to 2 decimal points) in the box.
Stop Loss: choose from -10%, -25%, -50%, -75% or enter a Custom %.
Take Profit: choose from 10%, 50%, 100%, 300% or enter a Custom %.
Review your Conditional Order, with Profit collateral, Leverage, Stop Loss Trigger Price, Take Profit Trigger Price, Trigger PnL Stop Loss %, Trigger PnL Take Profit %, Entry Price, Liquidation Price and Fees.
The following approvals will have to be executed via a wallet prompt:
- Enable Leverage
- Enable Orders (pop-up appears highlighting conditions under which order may not execute [liquidity, price, time, keeper], requires selection of checkbox, and approval by accepting terms)
- Long ETH (directional trade and market)
If your Conditional Order is executed by the keeper, you will see it listed under "Positions", and two orders for each the “Stop Loss” and “Take Profit” listed under "Orders". Once your Conditional Order meets the conditions for EITHER “Stop Loss” OR “Take Profit”, both orders will be closed, and the outcome will be listed under ”Trades”.
You can adjust your existing position by clicking "Edit" at the bottom-left side of the screen.
By depositing collateral, you will reduce leverage, and increase liquidation price.
By withdrawing collateral, you will increase leverage, and decrease liquidation price.
You can close a position by clicking on the "Close" button.
The user can select which asset the remaining collateral is paid out in by changing the selection under "Receive".
Note that arbiscan may not always show ETH transfers so when you close long positions on Arbitrum and receive ETH the transaction might not show the transfer but your ETH balance would have increased.