🔁Opening / Closing trades

This guide shows the steps on opening and closing the trade via the kiloex.io.

To open and close trades on KiloEx.io you will need:

1. A Web3 wallet e.g. Metamask which is connected to KiloEx.io.

2. BNB for BNB Chain in that wallet to pay for transaction fees.

3. USDT in that wallet to use as margin.

Opening a trade

1. Go to our platform KiloEx.io

2. Click "Connect Wallet" in the top right. You might need to refresh the page for the website to detect your wallet, if it wasn't unlocked yet.

3. If this is your first trade, you will need to approve the contract to be able to use the USDT that you want it to. Click approve and submit the transaction to BNB Chain.

4. Now, you can set your trade parameters:

   1. Trade Type and whether it is long (buy) or short (sell).

      1. Market: To be used to open a trade immediately. It will open at the market price (+ spread).

      2. Limit: To be used when you want to go long at a lower price than present, or to go short if the price reaches a higher price than present. Executes at exact price set if price reaches threshold + spread.

      3. Conditional: To be used when you want to go long if the price reaches a higher price than present, or to go short if the price reaches a lower price than present. You might want to use this to long a breakout, or short a breakdown. The execution price is the current market price + spread.

   2. Margin: maximum amount you are risking if you are liquidated. Your minimum open margin should no less than $20. Based on different leverage, the minimum margin required will be different.

   3. Leverage: multiply the volatility of the price up and down, to increase exposure.

Viewing the details of an Open Trade & Updating margin

Now your trade is open, you can view its details by viewing it under Your Positions. You can change your "Margin Ratio" by click "Deposit". The margin ratio will be updated based on previous position size with new margin deposited.

Closing a trade

1. Scroll to the right hand side of your trade in Your Positions

2. Choose to close by market order or put your TP or SL orders

1. Under "Order History", you can check the details about your trade

1. The maximum profit on a trade is 900% PnL, so if you don't put any take profit, it will put one automatically at 900% PnL. This is a take profit mechanism that DEX usually takes to avoid the Vault suddenly taking a huge loss.