In the Simple Mode, you are able to open short or long contracts efficiently with the simplified user interface. If you have limited exposure to trading derivatives or trading in general, this platform is the best for you! The minimalist structure helps you to navigate the interface without getting lost in the never-ending waves of a crypto derivatives exchange.
Here are 5 Easy Steps on How to Trade in BitOrb Simple Mode:
Step 1: Placing an Order
You will find the Simple Mode by clicking on the header tab drop-down list on the left-handed side at the BitOrb exchange. Simple Mode is set in Limit Order by default only. Begin to choose either Open Long (Buy) or Open Short (Sell).
(Note: If you change your mind, this can be changed in Step 2)
Step 2: Setting Quantity & Leverage
Insert the number of contracts to purchase at ‘Quantity’ (Please note that 1 contract = 1 USD). Adjust the leverage accordingly. Your leverage can go up to 100%. Click ‘Proceed’ to continue with your order. However, if you want to change your order from a Long to Short (or vice versa), choose your option in the drop-down list above the ‘Quantity’ section of the Simple Mode.
(Note: The higher the leverage, the lower the cost utilized to purchase the contracts, but, also higher the risk. The ‘Risk Level’ on the right-hand side will you the risk level of your order based on your inputs)
Step 3: Exit Price & Stop Loss Price
Insert the Exit Price and the Stop Loss Price (Either in USD or as %).
Step 4: Confirm Order Details
Check the ‘Order Summary’ on your right to ensure that you are satisfied with your order before clicking on ‘Confirm’ and officially placing the order in the Order Book.
Step 5: Order Placed!
After you have confirmed your order, it will be listed under you’re the ‘Active Orders’ table and it would appear in the Order Book in the Advanced Mode.