Your first trade

This walkthrough shows the basic flow for opening a first position on TrueCurrent. Start with a small size and low leverage while you learn how margin, price tolerance, funding, and liquidation behave.

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Before you start

Make sure you’ve:

• Connected your wallet (guide)
• Completed the one-time authorization (prompted automatically on first visit)
• Deposited USDC (guide)

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Step 1: Choose a market

From the markets dropdown, select the market you want to trade. Each market shows the last traded price, 24h volume, and funding rate.

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Step 2: Long or short?

Long – you profit if the price goes up. Short – you profit if the price goes down.

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Step 3: Set your size and leverage

Enter the amount of USDC you want to use as margin (your collateral). Then set your leverage – this determines the size of your position relative to your margin. For example, 100 USDC margin at 2x leverage means a 200 USDC position. A 10% price move in your favor results in a 20 USDC profit (20% on your margin). A 10% adverse move results in a 20 USDC loss. Higher leverage amplifies both gains and losses. Beware of the risks associated with high leverage.

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Step 4: Set your price tolerance

Before confirming, you’ll see a quoted price and a slippage amount. TrueCurrent converts these into a worst price: the highest price you will pay when going long, or the lowest price you will receive when going short. For example, if BTC is currently quoting at $100,000 and your slippage tolerance is set to 0.25%, you will not get filled on a long above $100,250. TrueCurrent will not settle your trade at a price worse than this limit. If no liquidity provider can satisfy it, the trade does not execute.

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Step 5: Review and submit

Review the trade summary at the bottom of the panel: Quoted Price, Resulting Position, Slippage (your worst price), Order Value, Margin Required, and Liquidation Price. When you’re ready, click Long [asset] or Short [asset]. TrueCurrent automatically collects prices from institutional liquidity providers, picks the best one, and executes your trade, typically within seconds. You’ll see a confirmation toast once the trade settles.

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Step 6: Monitor your position

Your open position appears in the Positions panel below the chart. You’ll see:

• Entry price and current Index Price
• Unrealized P&L
• Your liquidation price – if the mark price reaches this level, your position can be forcibly closed

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Closing your position

Click Close on any open position. Choose full or partial close and confirm.

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Tips

Watch your liquidation price. If you’re getting close, you can add margin or partially close to reduce risk. Check funding rates. If you’re holding a position for long periods of time, funding payments can add up. See Funding rates.