Open a position
Last updated
Last updated
Use Long or Short according to your market view and open a position by entering the margin you want to use. Polynomial trade has different types of orders which are market, limit and TP/SL order. Select the convenient type order depending on your strategy.
If it is still unclear how Long and Short trades work, you can refer to the Basics of perp section. Once the user has decided on the direction of their trade, they can enter the trading amount and choose the desired leverage. At this point, the fees and keeper deposit will be displayed, and the user can review the fees before opening the position. Clicking on either Long or Short will initiate the position and it will be visible in the position tab.
After opening the position, the trade comes on orders, and the trader can view the position status after the transaction is completed. All the unfilled orders will be kept in the orders tab until they get filled.
After opening the position, the trade comes on positions, and the trader can manage the trades on this tab. The trader can view the position size, open price, Liquidation price, and PnL on this tab.
If the trader opens another trade, then the exchange automatically averages both orders, recalculates the PnL and shows it in the position tab.
Also, the Trade history tab on portfolio page will allow the traders to view all the trades on the exchange made by the user.
Expired order is a order that has not been filled because high volatility in the market or has reached its expiry time.
After an order expires you can,
Create a new order, so the expired order gets cancelled in the same transaction.
Manually execute at the current market price—this means you are attempting to place the trade based on the current index price.
When the trader does not have enough funds to meet the margin requirement, which is the amount of collateral that the trader must keep on deposit in order to maintain their open positions. In this case, the exchange will automatically liquidate the trader's positions to bring their account back within the required margin.
The liquidation price will be shown in the positions tab and if you are using more than 5x leverage, then always try to check the asset underlying price. The more leverage you take, the more chances are there for liquidation due to the volatility in the assets.
If there is any collateral remaining after deducting losses and fees, then the corresponding amount would be returned to your trading account.
