There's more to explore: #THENA Perps V2.
Perps let you trade price movements without buying $THE coin. Up or down, you choose a side. Here's how to get started, step by step, without overlooking the risks.
1/ Connect your wallet and complete the account setup shown.
Before trading, deposit an accepted asset as collateral (margin).
Think of margin as the money backing your trade. Check which assets the platform currently accepts.
2/ Now pick a market you understand.
Choose your direction:
LONG ➵ You expect the price to rise
SHORT ➵ You expect it to fall
For example, if you expect $BTC to drop, you can open a short without owning any BTC. Simple idea. Different risk from a spot trade.
3/ Next: position size and leverage.
Say you put up $50 margin at 2x leverage. You now have roughly $100 in market exposure.
A 1% price move changes your position's value by about $1 before costs. Higher leverage means bigger swings relative to your margin.
4/ Before placing your order, check:
▹ Market or Limit order
▹ Trading fees and funding
▹ Estimated liquidation price
▹ Available margin
Consider setting a Stop Loss (SL) and Take Profit (TP) if supported for your order. A SL helps manage risk but can't guarantee an exit price.
5/ Ready to place the trade?
Review the details and submit your Long or Short order. One important thing: submitting an order doesn't mean it has executed.
Check its status. Your position is open only once the order fills. Then monitor PnL, margin and liquidation risk.
6/ Want to close the trade?
Find your open position, choose to reduce or close it, and confirm. Make sure the closing order actually executes.
My beginner tip: start small, use modest leverage and understand the fees before increasing your position size.
7/ Why trade on THENA?
Perps V2 uses #orbsnetwork Ultra for order execution and access to external liquidity, with onchain settlement. It's another trading option in the THENA ecosystem on #BNBChain .
Explore THE interface and try it when you're ready! Trade carefully. NFA.
