Place Order
Last updated
Last updated
The "Place Order" panel on Decentrex enables users to enter and manage their trades efficiently. Here is an outline of what all the components within it mean:
To initiate a trade, you can use the "Buy" and "Sell" buttons to switch between longing and shorting a particular asset, respectively. Clicking on "Buy" means you are entering a long position, speculating that the asset's price will rise. Conversely, clicking on "Sell" means you are entering a short position, speculating that the asset's price will decline.
You can enter the order amount manually in the input field or by dragging the leverage slider. The leverage slider allows you to adjust the size of your position based on the desired leverage. As you move the slider, the order amount will update accordingly. This feature helps you quickly adjust your position size according to your risk appetite and available margin.
You may also switch your input preference between the current asset and USD. This option provides flexibility in expressing your order amount in terms of the asset you are trading or its equivalent value in USD. To toggle between the two input preferences, click on the button to the right of the order amount text input.
Slippage is the difference between the expected price of a trade and the actual price at which the trade is executed. In fast-moving markets, slippage can occur due to price fluctuations during the time it takes for your order to be filled. Decentrex allows you to edit the acceptable slippage percentage to manage this risk.
To adjust the slippage, click on the pencil icon displayed at the end of the "Slippage" line in the order preview section. A small input will appear, allowing you to enter your preferred slippage percentage. If your order is not going through due to high market volatility, you may need to increase the allowed slippage to ensure your order gets filled. However, keep in mind that higher slippage may result in less favorable execution prices.
