> For the complete documentation index, see [llms.txt](https://docs.moonlander.trade/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.moonlander.trade/how-to-use/trading/trade-lifecycle/open-position.md).
# Open Position
Select your desired trading pair and open a long/short position.
| Step | Description |
| ----------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| 1. Choose your Order Type | Market Order
- Buying/selling immediately at the current market price
Limit Order
- Buying/selling only when the market price reaches your specified target price
- not applicable to 500x, 750x, 1000x leverage
|
| - Enter the Collateral to be used
| You can pay collateral by using any of the assets supported in MLP:
- Cronos EVM: USDC
- Cronos zkEVM: vUSD, zkCRO
|
| - Set the desired Leverage
| 1-100x
- available to all traders
- trading pairs may have different max leverage
500x, 750x, 1000x - unlock by fulfilling staking requirement:
- Cronos EVM: 200 $MLP
- Cronos zkEVM: 1000 $MLP
- see $MLP for more information
|
| - Adjust the desired Position Size
| - Automatically inputted once you complete step 2
- You can adjust the position size in the unit of the asset that you’re trading (i.e. BTC, ETH, CRO, and etc.)
- As you adjust the position size, the collateral amount will be automatically adjusted to meet the required amount
|
| - Set Take Profit/Stop Loss Orders (TP/SL)
| Take Profit
- Closing a position automatically and realizing profits when the market price reaches a specified price level
- For Leverage <50x, the maximum level is 550%
- For Leverage >=50x, the maximum level is 350%
- Default is set to be 100%
Stop Loss
- Closing a position automatically and minimizing losses when the market price reaches a specified price level
- TP/SL orders cannot be canceled once created. You can only edit the order.
|
| - Set the desired Slippage
| - Set the maximum discrepancy between the expected price of a trade and the price at which the trade is executed
- Not applicable to Limit Order
|
| - Pay Fees
| - Open Fee and Execution Fee are charged when opening positions
- Fees are deducted from your wallet together with the collateral
- There is no Open Fee for positions with 500x, 750x, 1000x Leverage
- See Fees for more information
|
{% hint style="info" %}
Note that positions under the same trading pair will be created as individual positions upon each position creation. They will not be unified.
{% endhint %}
{% hint style="info" %}
Once the maximum open interest (OI) is reached for Long and Short Positions respectively for a trading pair, opening position in that direction will be temporarily suspended. This helps to
* prevent excessive losses in MLP in case of adverse market movements
* maintain market stability by preventing the accumulation of disproportionately large positions that could impact market dynamics
{% endhint %}