Step by Step Trading
Last updated
Last updated
Meridian Trade is accessed by pressing selecting the Trade option on the main Meridian menu located in the page header. This page provides all of the information and functionality to open, close and manage your Leverage Trading positions. This page includes:
Asset price information for the past 24 hours
A live showing the price movements for the selected assets over selected periods of 5m, 15m, 1hr, 4hr and 1day intervals
A panel showing or for the currently active account
The main trading control panel
To open a simple, market position:
Select the type of trade that you wish to execute.
Select how you would like the trade to be executed
In the top 'Pay' box select the token that you would like to use as collateral. It should be noted that:
For short positions, if the selected collateral is not USDM then it will first be converted into USDM as a part of the trade and this conversion will incur a fee which will be included in the summary box below the leverage slider
While there are no price impacts for trades, price movements can occur between the time when the transaction is submitted and when it is confirmed on the blockchain. The maximum permissible slippage can be customised by clicking on the "..." icon next to your address at the top right of the page.
In the trade shown above 0.1 ETH of start collateral is being used with a 5.3x leverage to go long on ETH at a market price of $1,849.94. The calculated open fee for this trade is $0.97.
The opening position is calculated based on the size of the initial collateral after deducting the opening fees and the amount of leverage that has been selected.
Long and short positions can be held on the same token at the same time. These will be shown separately on the Positions Table. However if you select to open a new position for an asset in the same direction as an existing position for that same asset then this will result in the current position being updated. When you do this the Entry Price, The Liquidation price and Leverage will show two sets of numbers. The grey numbers to the left indicate the values from your current position and the white values on the right represent the new values for that position once you execute the new trade. This is shown in the diagram below.
The Trading Panel allows users to select between , or orders as well as defining the price entry criteria for a given order, , or .
Users can select their preferred trading assets along with the amount of that they wish to use and, in the case of long and short orders, the size of the that they wish to use.
- if you wish to profit when the price rises
- if you wish to profit when the price falls
- if you wish to execute a zero slippage swap from one token to another
- execute the order at the current market price
- execute the order when the market price equals a specific price or better
- trigger prices can only be set against existing positions listed in 'open positions' panel. They cannot be set in the trading panel
For long positions, if the selected collateral is not the same as the trade that is being made then the collateral will be converted to the trade token. eg if you are going long on BTC then the collateral will be converted to BTC. This conversion will incur a which will be included in the summary box below the leverage slider.
Move the Leverage Slider to set the amount of leverage that you wish to apply to the trade. Note that the minimum leverage for Long and Short orders is 1.1. As the leverage slider is increased or decreased the and the transaction fees will be updated in the panel below.
The panel below the Leverage Slider provides details of the trade that is being made including the Entry Price for the trade, the and the . Once you are happy that the trade has been configured correctly it can be submitted by pressing the transaction button at the bottom of the Trading Panel.
The Liquidation Price is calculated as the price at which the (collateral - losses - fees) is less than 1% of the position's size. If the token's price crosses this point then the position will be automatically closed. More details on liquidations can be found .
