Open/Close a Trade

A Step-by-Step Guide

Skip Down to Close a Trade

How to Open a Trade

1) Go to the Lynx application

Enter the Lynx application and connect your wallet by clicking the "Connect Wallet" button on the top right corner.

​2) Select the instrument you’d like to trade

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.

3) Select your Direction

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

4) Select your collateral asset

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

4. Enter the amount of collateral

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.

5) Configure leverage, stop loss, and take profit parameters

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.

6) Submit your trade

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

How to Close a Trade

1) Select 'Close' next to the position

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

​