Opening a New Position
Opening a New Position
The New Position button sits just under the TradingView chart. This is where you open a leveraged long or short trade on any GMX market—fully on-chain and in a few guided steps.
Step 1 – Choose Direction & Market
When you click New Position, a four-step modal opens.
Direction
Long – Profit if the token price rises.
Short – Profit if the token price falls.
Market
Search or scroll to select from supported pairs like ATOM/USD, SUI/USD, or DYDX/USD.
Click Continue to lock in your market choice.
Step 2 – Set Your Collateral
Decide which asset to use as collateral and how much:
Collateral Currency
Long Collateral (e.g., WETH) gains value as the token rises.
Short Collateral (e.g., USDC) keeps exposure stable for isolated risk.
Collateral Amount
Enter an amount or use quick buttons (like 80% of your balance).
The preview shows the market price and available balance in real time.
Step 3 – Choose Leverage
Move the leverage slider to set your desired multiple (1x–50x). Higher leverage means larger potential gains but a smaller liquidation buffer.
The preview panel updates live with:
Position Size
Liquidation Price
Distance to Liquidation (%)
Use this to fine-tune risk before continuing.
Step 4 – Review & Confirm
The final screen gives a full summary:
Collateral and leverage settings
Estimated position size and entry price
Here you can:
Enable Stop Loss / Take Profit (SL/TP)
Choose Market or Limit Order
Adjust Advanced Settings such as slippage tolerance
When satisfied, click Open Long/Short Position to go live.
Quick Tips
Use Take Profit & Stop Loss – Protect gains and define risk automatically.
Check Risk Metrics – The liquidation price and risk percentage help you avoid over-leverage.
Save Time – All parameters can be edited later using the position controls (covered in the next page).
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