How to Open a HOTCROSS long position with OpenLeverage?
Step1: Open the Margin Trade page
Input HOTCROSS in the search box, then you will see the HOTCROSS-BNB trading pair
Click the “HOTCROSS-BNB” pair to start
Step2: Create the Long Position
Select "Long HOTCROSS" and adjust the leverage & collateral.
Double-check the information and click "Continue to trade”.
Wait for confirmation, here is an example transaction.
Click "My Positions" in the menu bar to view your trade. If you refresh the page, it also shows under the trading pair price chart.
To close your position, you may click "Close". You can choose to close a partial portion of your position by entering a number in "Input Amount" or selecting a percentage.
To avoid having your position liquidated, an additional margin may be added by clicking "Add Margin”.
The Risks
On-chain applications are not without their risks so please do exercise caution and safety when using any protocol or platform that you are unfamiliar with. For security concerns, please refer to here for more audit info.
Margin trading liquidation
Margin trading is a method of trading assets using funds provided by a third party. When compared to regular trading accounts, Margin accounts allow traders to access greater sums of capital, allowing them to leverage their positions. Essentially, Margin trading amplifies trading results so that traders are able to realize larger profits on successful trades.
However, Margin trading does not come without risk, please be aware of the possible liquidation: Liquidation happens when an exchange or brokerage closes out a trader’s position because it can no longer meet margin requirements. Margin is the percentage of the total trade value that must be deposited with the broker to open and maintain a position.
When a trader’s margin account falls below a level previously agreed upon with the exchange, positions will automatically start liquidating.
To prevent from getting liquidated in the OpenLeverage platform, please refer to here for liquidation statement.
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