Managing Positions
Last updated
Last updated
In OrbTrader every Trade you make opens a Position. So when you buy some ELON token for ETH, you open a position. You can then manage your positions by adding orders to it, which will be explained in more details on the following page.
To open a new position, go to the "New Trade" tab. There you can search for tokens by contract address, name or symbol. The contract address is always unique for each blockchain, and there are many imposters and scammers using token names or symbols of well known projects.
So it is definitely preferred to always only use the contract address.
OrbTrader already knows all existing pairs / tokens which have a liquidity pool on a supported DEX like Uniswap, Sushiswap or Pancakeswap. Most likely we also have already generated the OrbScore and a token report.
Currently we support:
Uniswap v2 Ethereum Mainnet (an all clones like Sushiswap)
Uniswap v2 Arbitrum (an all clones like Sushiswap)
Pancakeswap v2 Binance Smart Chain (and all clones)
We will add more decentralized exchanges and blockchains soon, based on their trading volume. our focus for the first version was to cover like 50% of all trading volume for now.
For now we also only support trading against the native token. For 80-90% of the interesting token you will find such a pair. We will add support for other pair types when required.
Hint: If you can not find a token in our database, it might be a scam and should be avoided. We will add a feature soon, to adjust your personal risk score, which enables you to see more tokens.
When you found your token, you can either do further analytics with orb analytics or go straight to the New Trade form to open the position.
There you can set the order Size in ETH (or the native token like BNB) and you see the expected output amount of token you get. You can also set a take profit and stop loss order, based on a trigger price, this orders will be executed automatically. And you can adjust the slippage. You know the slippage field probably from the Uniswap swap form, but we are basically swapping with less than 0.1% slippage and on a protocol level this term doesn't exist. You don't have to worry about the details here, we make sure you always get the best amount available by selecting the pools with the most liquidity and a fast execution.
As you can see in the above sample, when you press the view button, you can see all pending orders and edit them.
To buy more token or sell parts of your position, click the green "Add Order" button.
If you bought a scam token or a honeypot which can not be sold, press "Flag spam". This will close the position for you and remove it from the dashboard.
If you want to sell all token, use the red "Close" button, to sell all token immidiatly with a market sell order.
Closed positions will be visible in the "History" tab where you can see all your previous trades, there outcome and some analytics data.
