> ## Documentation Index
> Fetch the complete documentation index at: https://docs.leap.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Opening a Trade

> A practical walkthrough from choosing a market to reviewing and submitting your first position.

Use the same review order each time you place a trade. It helps catch market, direction, and sizing mistakes before you submit.

## 1. Choose the market

Open **Explore**, search for the asset you want, and select the market.

<CardGroup cols={2}>
  <Card title="Spot" icon="coins">
    **Buy** to purchase an asset or **Sell** to dispose of an asset you hold. Spot trades do not use leverage, margin, funding, or liquidation.
  </Card>

  <Card title="Perpetual" icon="chart-line">
    **Long** to open a position that benefits from rising prices or **Short** for falling prices. Perpetual trades can use leverage and involve margin, funding, and liquidation risk.
  </Card>
</CardGroup>

Check the market type before continuing. **Buy/Sell** and **Long/Short** describe different actions.

## 2. Choose Simple or Pro

Use **Simple** for a focused path from market to order.

Use **Pro** when you want a limit or conditional order, order-book data, advanced margin controls, or TP/SL before you submit.

## 3. Set direction and amount

For a perpetual market, choose **Long** or **Short**. For a spot market, choose **Buy** or **Sell**.

Enter the amount you want to trade. Think in **position value**, not only in margin.

### Example

Imagine you open a \$500 BTC position at 5x leverage.

* Position value: about **\$500**
* Initial margin: about **\$100**
* Market exposure: still **\$500**

If BTC moves 2%, the effect is based on the $500 position value, not the $100 margin figure. This simplified example excludes fees, funding, slippage, and other account effects.

## 4. Check leverage and margin

Confirm the leverage displayed in the trade panel.

If you are using cross margin, collateral is shared across your cross-margin positions. Losses in one position can affect the margin available to others.

## 5. Choose how the order should execute

In Simple mode, review **Order settings**.

In Pro mode, choose **Market**, **Limit**, or **Conditional**, then review slippage and any advanced controls.

## 6. Add an exit plan

If you already know where you want to take profit or cut the trade, set TP/SL before submitting or add it immediately after the position opens.

An exit plan is easier to follow when you decide it before the market starts moving.

## 7. Review and submit

Check the final preview:

* market and market type
* direction
* amount
* leverage and margin mode
* order type
* estimated margin and position value
* estimated quantity
* TP/SL, if used

Submit the order, then open **Positions**, **Open orders**, or **Trade history** to confirm the result. A market order may fill immediately; a limit or conditional order may remain under **Open orders** until its conditions are met or you cancel it.