# Open/Close a Trade

{% hint style="info" %}
**Skip Down to** [**Close a Trade**](#how-to-close-a-trade)
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## How to Open a Trade

### 1)  Go to the Lynx application

Enter the [Lynx application](https://app.lynx.finance/leverage?chainId=250\&sa=usdc\&pairId=1) and connect your wallet by clicking the "Connect Wallet" button on the top right corner.

<figure><img src="https://1190515300-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FcattEyXT55xEtBJKXNBN%2Fuploads%2FX8n3ZPyHUe1T5DhPHbEQ%2Fimage.png?alt=media&#x26;token=f2e755b7-512f-4fe9-bf67-b41b340c7438" alt=""><figcaption></figcaption></figure>

### ​**2) Select the instrument you’d like to trade**&#x20;

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.

<figure><img src="https://1190515300-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FcattEyXT55xEtBJKXNBN%2Fuploads%2FBIRPURUafWwfSjyJNZtK%2Fimage.png?alt=media&#x26;token=f5ec71f1-f7f9-4fbb-8f24-16c5741d0aef" alt=""><figcaption></figcaption></figure>

### 3) Select your Direction  <a href="#id-3-select-either-long-or-short-by-clicking-on-the-buy-long-or-the-sell-short-buttons.-for-this-tutori" id="id-3-select-either-long-or-short-by-clicking-on-the-buy-long-or-the-sell-short-buttons.-for-this-tutori"></a>

Choose to go "Long" or "Short". For this tutorial, we will open a long position.

<figure><img src="https://1190515300-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FcattEyXT55xEtBJKXNBN%2Fuploads%2FJMiVIV9jDuBE94F4DhLc%2Fimage.png?alt=media&#x26;token=f07c1ef2-6830-4ca7-bf20-70b3449817ac" alt=""><figcaption></figcaption></figure>

### 4) Select your collateral asset <a href="#id-4-enter-the-amount-of-tokens-you-want-to-deposit-as-collateral-for-your-position.-note-this-is-denom" id="id-4-enter-the-amount-of-tokens-you-want-to-deposit-as-collateral-for-your-position.-note-this-is-denom"></a>

Click the collateral dropdown menu and select the asset you want to use as collateral. In this example, we will choose SPIRIT.

<figure><img src="https://1190515300-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FcattEyXT55xEtBJKXNBN%2Fuploads%2FAkklycK8k9uE11ky8IpN%2Fimage.png?alt=media&#x26;token=4310fd05-0c5f-4fb5-b021-3f09b5669167" alt=""><figcaption></figcaption></figure>

### 4. Enter the amount of collateral  <a href="#id-4-enter-the-amount-of-tokens-you-want-to-deposit-as-collateral-for-your-position.-note-this-is-denom" id="id-4-enter-the-amount-of-tokens-you-want-to-deposit-as-collateral-for-your-position.-note-this-is-denom"></a>

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.

{% hint style="warning" %}
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](https://lynx-finance.gitbook.io/lynx-finance/for-users/tutorials/deposit-withdraw-to-lynx-account "mention").
{% endhint %}

<figure><img src="https://1190515300-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FcattEyXT55xEtBJKXNBN%2Fuploads%2FcaWpAt1F0teeoooCt2KY%2Fimage.png?alt=media&#x26;token=3452a0b7-fcb6-4f4d-af5c-9d2c37307eb2" alt=""><figcaption></figcaption></figure>

### 5) Configure leverage, stop loss, and take profit parameters <a href="#id-5-select-the-amount-of-leverage-you-want-to-use-and-if-youd-like-to-set-a-stop-loss-or-take-profit" id="id-5-select-the-amount-of-leverage-you-want-to-use-and-if-youd-like-to-set-a-stop-loss-or-take-profit"></a>

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.

<figure><img src="https://1190515300-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FcattEyXT55xEtBJKXNBN%2Fuploads%2FAEG3VCdjuGrzbO969ZQY%2Fimage.png?alt=media&#x26;token=d5efab5f-10fc-4788-a4c9-c056597ce3a3" alt=""><figcaption></figcaption></figure>

### 6) Submit your trade <a href="#id-5-select-the-amount-of-leverage-you-want-to-use-and-if-youd-like-to-set-a-stop-loss-or-take-profit" id="id-5-select-the-amount-of-leverage-you-want-to-use-and-if-youd-like-to-set-a-stop-loss-or-take-profit"></a>

Click 'Place Order' to submit your trade. Follow the prompts in your wallet.

<figure><img src="https://1190515300-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FcattEyXT55xEtBJKXNBN%2Fuploads%2FxPw3xFH96sh3rYou6X2e%2Fimage.png?alt=media&#x26;token=d0723e1d-c81d-46d5-9e46-9e78b2f0adba" alt=""><figcaption></figcaption></figure>

## How to Close a Trade

### 1) Select 'Close' next to the position <a href="#id-8-under-the-positions-tab-find-the-position-that-youd-like-to-close-and-click-the-x-button" id="id-8-under-the-positions-tab-find-the-position-that-youd-like-to-close-and-click-the-x-button"></a>

Click the 'Close' button next to the position you want to close. Follow the prompts in your wallet.

<figure><img src="https://1190515300-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FcattEyXT55xEtBJKXNBN%2Fuploads%2Fidu3Am9TWJUo1cwPQr3r%2Fimage.png?alt=media&#x26;token=2a6f77ae-f6bf-4d9e-a944-4a4673b452ef" alt=""><figcaption></figcaption></figure>

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