Open/Close a Trade
A Step-by-Step Guide
Last updated
A Step-by-Step Guide
Last updated
Skip Down to Close a Trade
Enter the Lynx application and connect your wallet by clicking the "Connect Wallet" button on the top right corner.
Click the dropdown menu for traded instruments and select the instrument you'd like exposure to. For this tutorial, we will choose the BTC/USD pair.
Choose to go "Long" or "Short". For this tutorial, we will open a long position.
Click the collateral dropdown menu and select the asset you want to use as collateral. In this example, we will choose SPIRIT.
Enter how much collateral you want to use for your position. This is denominated in token units, not $USD. In this example, I will use 1000 $SPIRIT tokens as collateral.
Note: If the app shows you have 0 Available Balance, you must first deposit funds into your trading account. See Deposit/Withdraw to Lynx Account.
Select the amount of leverage you want to use and if you'd like to set a stop loss or take profit. If you don't set a stop loss or take profit, the default values will be assigned.
Click 'Place Order' to submit your trade. Follow the prompts in your wallet.
Click the 'Close' button next to the position you want to close. Follow the prompts in your wallet.