# TRADING

Here is our trade page: [https://app-alpha.silverkoi.io/trade](https://app-alpha.silverkoi.io/trade/XAUUSD)

## Connect your wallet:

To connect your wallet, simply click the 'Connect Wallet' button on the [Trade](https://app-alpha.silverkoi.io/trade) page. We support a variety of wallets, such as WalletConnect, MetaMask, Bitget Wallet, Coinbase Wallet, and others.

We currently support Plume Network and will be adding support for more chains as we approach the mainnet launch.

## Get Testnet ETH:

If you want to trade on Plume Testnet, you can get some testnet ETH through this [link](https://faucet.plumenetwork.xyz/).&#x20;

## Open a position:&#x20;

Before you can open a position, you are required to first approve USDC. You can set the approval limit to your preference through your wallet. Note that we don't take custody of your funds. When you open a position, a minimum amount required for collateral will be deposited into vault. &#x20;

The next step is to claim test USDC on our website. To do this, navigate to the top of the [Trade](https://app-alpha.silverkoi.io/trade) page and click the "USDC Faucet" button. Clicking this button will allow you to claim 10,000 test USDC. Please note that we currently allow claiming test USDC only once per wallet. If you need more test USDC, please contact us by creating a ticket in our [Discord](https://discord.com/invite/udg27sp2QA).&#x20;

Now, you can navigate to the trading panel on the left side of the website and open a position. You have the option to place market, limit, or stop-limit orders.

#### Market Order&#x20;

Specify the amount you wish to purchase at the market price, using either USDC or the underlying asset as the unit. For example, entering 1 XAUUSD means you want to either go long or short on 1 unit of XAU (Gold) at the current market price.

#### Limit Order

You can click on the Bid and Ask prices to automatically set your limit price to the current bid or ask. You can specify the amount in either USDC or the underlying asset.

Time in Force Options:\
We offer four different types of time-in-force settings: IOC (Immediate or Cancel), FOK (Fill or Kill), GTC (Good Till Canceled), and GTD (Good Till Date). Choose the option that best suits your trading needs.

#### Stop Limit Order

A stop limit order gives traders more control by setting maximum or minimum prices for their orders. When the underlying asset's price reaches the predetermined stop(trigger) price, a limit order is triggered, directing the protocol to either long or short the asset at the specified limit price. This type of order is particularly useful for managing risk, as it sets a boundary beyond which the investor is unwilling to incur further losses.

**Difference from Limit Orders:**\
While similar to a limit order, a stop limit order requires an additional input: the trigger price. This setup is ideal for traders who cannot constantly monitor the market, as it automatically triggers a long or short order once the asset hits a specified price.

**Types of Stop Limit Orders:**

**Buy Stop Limit**

This order is placed to go long on an underlying asset once its price reaches a set trigger price, helping traders control their entry price. At the same time, traders set a limit price, which is the maximum they are willing to pay when opening a new position.

**Sell Stop Limit**

This order is placed to short an underlying asset if its price drops to a set trigger price. Again, it consists of two prices: the trigger price (where the short limit order is triggered) and the limit price (the lowest price the trader is willing to accept). For example, if the current price is $100 per share, a trader might set a trigger price at $95 and a limit price at $93. The order activates when the price falls to $95 but will not execute if the price drops below $93.&#x20;

## Manage positions:&#x20;

At the bottom of the main [Trade](https://app-alpha.silverkoi.io/trade) page, you will find a condensed view of your orders, positions, and triggers.&#x20;

After placing an order, you will be able to view it under your orders list. The order list shows details about your order information, including side, limit price, size, time in force, filled size, and remaining size. If part of your order gets filled, it becomes a position. The remaining size of your order will still be displayed under remaining size. You can easily cancel your orders.

To view your open positions, click on the position tab. We provide you with an easy one-click method to close your positions. Alternatively, you can also choose to close or add to your position by clicking the edit button and placing new orders. Adding and withdrawing collateral is also supported under the edit modal.

Once you cancel your order or close all your positions, all your collateral will be returned to your wallet automatically. Your profit and loss will be proportional to your position size. For example, if you open a long GOLD position with a size of $10,000 and the price of GOLD increases by 10%, you would have a profit of $1,000. Conversely, if the price of GOLD decreases by 10%, you would incur a loss of $1,000. All profits and losses are settled in USDC.

There are two ways to create triggers:

1. Create stop limit orders.
2. Once you have existing positions, you can create SL/TP orders, which will create triggers.

This information will be displayed under the triggers tab. It includes details such as trigger side, type, trigger price, and limit price.

Please note that SL/TP orders are not guaranteed to execute. This can happen in several situations, including but not limited to the following:

* The mark price did not reach the specified price.
* The specified price was reached but not for a sufficient duration to allow execution.
* The order might only be partially filled due to limited available volume at the specified price.

Lastly, if you want to see a more comprehensive view of your positions, you can click on the portfolio tab to find your positions, orders, triggers, and history information.
