First Trade
Last updated
Last updated
Starting your first trade on nftperp is straightforward. We’ll walk you through a few simple steps: picking your market, setting your position size and leverage, opening your trade, adjusting it as needed, and finally, closing out. Here’s how to kick off your trading journey.
On the upper right dropdown menu, choose the chain you'd like to trade on.
On the upper left dropdown menu, choose the market you would like to trade.
Select the order type: nftperp offers Market Orders, Limit Orders, and Conditional Orders that you can use to manage risk. If you are a beginner and just want to buy the perpetual contract at its current price then go with a Market Order. To read more on Market Orders, you can read about it on Order Types.
Choose the direction: Select Long (Buy) or Short (Sell) below the order type.
Position size: Enter the amount of the underlying asset you want for your position. You can do this in two different ways:
Using the text input, you can enter how much WETH collateral you want to use.
Using the Max button, you can set a maximum position Size.
Choosing leverage: You can use the leverage slider to trade with leverage. The slider will automatically show how much leverage you are using.
Of note, you can also set your maximum allowed slippage for your position.
When you're ready to open the position, click the button at the bottom of the form. A confirmation modal will appear so you can review the details of your trade and make sure all the details are correct. Finally, you will be asked to "Open Position", and sign the transaction with your connected wallet.
While your trade is open, your position will pay/earn funding payments depending on the market skew
After you've reviewed and opened your position, we offer a feature that allows you to share your trade with your network. It's a great way to showcase your trading moves, get feedback, or spark discussions with fellow traders. Click the icon below.
Choose what you want to share and tweet! You can also download the image as well.
Once you are done with a trade, you can close out of that position. Go to My Positions.
After you enter your positions tab, you can click the "Close" button to realize your P&L.
Next, a Close Summary tab will appear. In this Modal, you can adjust your position ratio, slippage tolerance, and download a PnL image before you close your trade. Please review all of the trade information before Closing Position.
Be sure to sign the transaction via your connected wallet.
Once your position is fully closed, it will state "Success" at the bottom.
