Trading Guide
Connect your wallet
Connect your web3 wallet to the exchange and make sure it's connected to the official DexToro website
Make sure you are connected to the Optimism network; if not, check how to setup or update the RPC on the dedicated page Setup RPC
Create a Smart Wallet and deposit into the Smart Wallet
DexToro uses smart contract wallets to access the exchange. Click on Create Account, and a DexToro Smart Wallet will be created. Read more on: Smart Wallets.
After creating the Smart Wallet, the trader needs to deposit sUSD to the Smart Wallet. Complete the transaction, and the deposit will reflect on your new Smart Wallet instantly. Read below for more information on how to acquire sUSD and deposit into Smart Wallet.
Getting sUSD
DexToro is built on top of Synthetix liquidity protocol and uses sUSD as the deposit/collateral asset. Traders can get the sUSD from DexToro's dedicated Bridge and swap (powered by Socket). If you don't have funds on the Optimism chain, then follow the steps:
More on sUSD:
Bridge your assets through your favorite bridges to Optimism, or we strongly recommend using our dedicated Bridge module, which you can find on our exchange at the top, powered by Socket.
The transfer of assets may take a few minutes and will be deposited onto your Optimism network upon completion.
After bridging your assets, swap using DexToro Swap to sUSD. Our dedicated Bridge & Swap module is located at the top menu.
Once the swap is successful, you will immediately see your sUSD in your available balance.
Add sUSD to MetaMask
If you don't have sUSD token added to your metamask wallet than you will not be able to see your sUSD holdings. Your wallet might look like this:
Click on Import tokens and enter this address in the Token Contract Field
sUSD Token: 0x8c6f28f2f1a3c87f0f938b96d27520d9751ec8d9
Click Add custom token and now you will see your sUSD holdings.
Add margin
After adding funds to the Smart Wallet, traders can add margin to the respective markets. The minimum margin to start trading is $50, and no maximum limit exists.
You can adjust your trade size by selecting your margin allocation to the trade using the pre-determined percentages or simply input any amount in the Margin section.
Open a position
Video Tutorial
Place an order
Use Long or Short according to your market view and open a position by entering the margin you want to use. DexToro has different types of orders, which are standard, limit, stop, and TP/SL orders. Select the type of order depending on your trading strategy.
If it is still unclear how Long and Short trades work, you can refer to the Basics section. Once the trader has decided on the direction of their trade, they can enter the trading amount and choose the desired leverage. At this point, the fees and keeper deposit will be displayed, and the user can review the fees before opening the position. Clicking on either Long or Short will initiate the position, and it will be visible in the Positions tab.
There is also a "funding rate" that is deducted over time as fees.
Managing positions
After opening the position, the trade comes on orders, and the trader can view the position status after the transaction is completed. All the unfilled orders will be kept in the orders tab until they get filled.
After opening the position, the trade comes on positions, and the trader can manage the trades on this tab. The trader can view the position size, open price, Liquidation price, and PnL on this tab.
If the trader opens another trade, then the exchange automatically averages both orders, recalculates the PnL, and shows it in the positions tab.
Also, the Trades tab will allow the traders to view all the trades on the exchange made by the trader.
Expired Order
An expired order is an order that has not been filled because of high volatility in the market or has reached its expiry time. Under the status of the order, it will simply say Expired.
After an order expires, you can decide to:
Do nothing or cancel the order.
Retrythe expired transaction with a 1-click button to reproduce the transaction at market price.Create a new order so the expired order gets canceled in the same transaction.
Closing / Reduce a trade position
To close a trade position, the user can click Close or use the TP/SL feature directly in the Positions tab by clicking the Wallet icon under TP/SL.
Check how to add TP/SL to a position here: Take Profit / Stop Loss.
When the user clicks Close, a popup will appear, and the user can decide how much of that position to close. Once the transaction is made, the order will be closed or reduced, and PnL will be realized according to the trade outcome.
The profit/loss will be credited to the wallet address after collecting all fees by exchange, and no fees will be deducted from the portfolio after the final transaction.
Traders can also close or reduce a position, opening a trade in the opposite direction using any type of order.
Liquidations
When the trader does not have enough funds to meet the margin requirement, which is the amount of collateral that the trader must keep on deposit in order to maintain their open positions, in this case, the exchange will automatically liquidate the trader's positions to bring their account back within the required margin.
The liquidation price will be shown in the positions tab, and if you are using more than 5x leverage, then always try to check the asset's underlying price. The more leverage you take, the more chances are there for liquidation due to the volatility in the assets.
If there is any collateral remaining after deducting losses and fees, then the corresponding amount will be returned to your trading account.
Last updated
