# Opening a New Position

## Opening a New Position

The **New Position** button sits just on the top right hand side of the terminal.\
This is where you open a leveraged long or short trade on any market—fully on-chain and in a few guided steps.

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## Creating a Position

The position creator is a **single unified panel** that lets you configure everything in one place—direction, order type, collateral, leverage, and risk controls—without clicking through multiple steps.

### 1. Choose Direction & Order Type

At the top of the panel you can select:

* **Long** – Profit when price rises.
* **Short** – Profit when price falls.

Then choose the execution type:

* **Market** – Executes immediately at the best available price.
* **Limit** – Opens your position only when the market reaches your target price.

Click on the little settings icon to manually adjust the slippage.

The market pair (e.g., BTC/USD, ETH/USD) is shown above the widget based on the chart you’re viewing.

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### 2. Set Order Size & Leverage

Use the slider or input fields to define:

* **Collateral Amount** – How much of your HL balance you want to deploy.
* **Leverage** – Increase or decrease position exposure with the slider.

A live preview updates instantly, showing:

* Position size
* Estimated entry
* Liquidation metrics

This allows you to adjust risk without leaving the panel.

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### 3. Configure Stop Loss & Take Profit (Optional)

Enable **SL** or **TP** to automate exits:

* **Stop Loss (SL)** – Close the position if price moves against you.
* **Take Profit (TP)** – Secure gains at a predefined price.

You can enter exact trigger levels or use percentage shortcuts.\
Cod3x displays the expected PnL at each level so you can confirm the risk profile.

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### 4. Open the Position

When everything looks right:

* Market orders execute immediately.
* Limit orders remain open until filled.

Click **Open Long** or **Open Short** to send the trade through Hyperliquid’s matching engine.

Your position then appears in the **Positions & Orders** section below the chart, where you can modify size, SL/TP, or close it at any time.

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#### Quick Tips

* **Watch your liquidation buffer** — it updates dynamically as you adjust leverage.
* **Use SL/TP early** — they help automate discipline and protect capital.
* **Everything is editable** — you can adjust SL/TP, add to size, or close at any time from the position panel.


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