Choose the symbol you want to trade.
Go to the order window on the right side of the PrimeBit WebTrader app.
Select "SELL" to short an asset or "BUY" to take a long position.
Choose the "Market" order type, select the "Quantity" (number of PrimeBit contracts).
Now you can see the "Required margin" for this order. Make sure the margin is not higher than your "Available balance".
Click the green "BUY" button to make the order.
That's it! You can see your position in the "Open Orders" tab under the chart.
You can see the symbol, order type, quantity which is the number of contracts, position value in your account currency, entry price, fair price, liquidation price, and your potential profit.
Everything looks fine so far. If you don’t want your position to be liquidated, set stop-loss order. PrimeBit is operating in an exchange model where a stop loss is a stop order.
For a buy order, stop-loss needs to open on the opposing side of the trade. Since we made a BUY order, the stop loss is a sell stop order. Choose "Stop" your order "Type". In our case stop loss will be below the current BTCUSD price. Your order quantity should be the same as for our initial buy order.
Your stop loss will be visible in the pending order tab. Perfect!
Take profit (TP)
Take profit option will close your order when the price reaches a limit.
Here's how you can open a SELL order with a take profit option.
Choose "SELL" as the order's "Side", and "Limit" as its "Type". The order quantity should be the same as for our initial buy order.
Double-check the details, and click the "SELL" button.
You can see your take profit order in the "Pending Orders" tab.
You can close the positions by clicking “x” icon. That`s it!