Perpetual Decentralized Exchanges (Perp DEXs) in DeFi often share common themes and design elements, forming an industry standard for trading platforms. At Bloom, we decided to take a different path, focusing on making perps trading fun and simple again. This fresh approach has welcomed many first-time perp traders to place their initial trades on Bloom, inspiring us to keep innovating and providing the best trading experience for our users.

The Bloom trading guide encapsulates the trading experience on Bloom.The guide will help you quickly start trading and effectively manage your positions. Let’s dive into the details to ensure you get the most out of your trading experience.

1. Choose Bet Direction:

   1. LONG (Up): Select this if you predict the coin price will go up. You profit if the price rises above your entry point.

   2. SHORT (Down): Choose this if you expect the asset's price to decrease. You profit if the price falls below your entry point.

2. Select Order Type:

   1. Market: Execute the trade immediately at the current market price. Ideal for fast entries and exits.

   2. Limit: Set a specific price at which you want the trade to execute. The order will only be filled if the market reaches your price.

   3. Stop Limit: Unlike limit orders, stop limit orders allow users to trigger orders on momentum. Meaning - for long orders (bullish), users can set a price above market price, such that a trade gets executed at that price.

3. Set Your Wager: Enter the exact amount of collateral you wish to use for the trade. Alternatively, use the percentage shortcuts (25%, 50%, 75%, 100%) to quickly allocate a portion of your wallet balance.

4. Adjust Leverage: Choose leverage from 2x to 50x. Leverage allows you to open a larger position with a smaller amount of capital. For example, with 10x leverage, a $100 position controls $1,000 worth of the asset. Be cautious: higher leverage increases both potential gains and losses.

5. Review & Place Bet: Confirm the details of your trade, including position size, estimated fees, and potential risks. You can also set risk management triggers. Take Profit: Automatically close your position when a specific profit level is reached. Stop Loss: Automatically close your position to prevent further losses if the market moves against you. Double-check all details before placing your bet to ensure everything is set as intended.

6. Positions Tab Overview

   1. Active Positions: View all currently open positions. Each entry shows essential details such as:

      1. Leverage: The multiple of position size / initial collateral.

      2. Position Size: The total value of your position.

      3. Entry Price: The price at which you entered the trade.

      4. Liquidation Price: The price at which your position will be automatically closed to prevent further losses.

      5. Take Profit/Stop Loss: Any risk management settings you’ve applied.

   2. Limits: Check all pending limit orders that are awaiting execution. Review and modify them as needed to ensure they align with your trading strategy.

   3. History: Review all past trades and their outcomes. This section includes detailed records of each trade, including entry and exit prices, profits, losses, and fees. Use this data to analyze your performance and refine your trading strategy.

   4. Managing Position Risk:

      1. Take Profit/Stop Loss: Take Profit: Set a price level where you want to secure your gains. Once the market hits this price, your position will close automatically, locking in your profit.

      2. Stop Loss: Set a price level where you want to limit your losses. If the market moves against you and hits this price, your position will close automatically, preventing further losses. Toggle these settings on or off and specify the exact prices to match your trading strategy. Effective risk management helps protect your capital and enhance long-term trading success.

Got further questions? Join our discord!

https://discord.com/invite/CDAqx9MZBN

Perpetual Decentralized Exchanges (Perp DEXs) in DeFi often share common themes and design elements, forming an industry standard for trading platforms. At Bloom, we decided to take a different path, focusing on making perps trading fun and simple again. This fresh approach has welcomed many first-time perp traders to place their initial trades on Bloom, inspiring us to keep innovating and providing the best trading experience for our users.

The Bloom trading guide encapsulates the trading experience on Bloom.The guide will help you quickly start trading and effectively manage your positions. Let’s dive into the details to ensure you get the most out of your trading experience.

1. Choose Bet Direction:

   1. LONG (Up): Select this if you predict the coin price will go up. You profit if the price rises above your entry point.

   2. SHORT (Down): Choose this if you expect the asset's price to decrease. You profit if the price falls below your entry point.

2. Select Order Type:

   1. Market: Execute the trade immediately at the current market price. Ideal for fast entries and exits.

   2. Limit: Set a specific price at which you want the trade to execute. The order will only be filled if the market reaches your price.

   3. Stop Limit: Unlike limit orders, stop limit orders allow users to trigger orders on momentum. Meaning - for long orders (bullish), users can set a price above market price, such that a trade gets executed at that price.

3. Set Your Wager: Enter the exact amount of collateral you wish to use for the trade. Alternatively, use the percentage shortcuts (25%, 50%, 75%, 100%) to quickly allocate a portion of your wallet balance.

4. Adjust Leverage: Choose leverage from 2x to 50x. Leverage allows you to open a larger position with a smaller amount of capital. For example, with 10x leverage, a $100 position controls $1,000 worth of the asset. Be cautious: higher leverage increases both potential gains and losses.

5. Review & Place Bet: Confirm the details of your trade, including position size, estimated fees, and potential risks. You can also set risk management triggers. Take Profit: Automatically close your position when a specific profit level is reached. Stop Loss: Automatically close your position to prevent further losses if the market moves against you. Double-check all details before placing your bet to ensure everything is set as intended.

6. Positions Tab Overview

   1. Active Positions: View all currently open positions. Each entry shows essential details such as:

      1. Leverage: The multiple of position size / initial collateral.

      2. Position Size: The total value of your position.

      3. Entry Price: The price at which you entered the trade.

      4. Liquidation Price: The price at which your position will be automatically closed to prevent further losses.

      5. Take Profit/Stop Loss: Any risk management settings you’ve applied.

   2. Limits: Check all pending limit orders that are awaiting execution. Review and modify them as needed to ensure they align with your trading strategy.

   3. History: Review all past trades and their outcomes. This section includes detailed records of each trade, including entry and exit prices, profits, losses, and fees. Use this data to analyze your performance and refine your trading strategy.

   4. Managing Position Risk:

      1. Take Profit/Stop Loss: Take Profit: Set a price level where you want to secure your gains. Once the market hits this price, your position will close automatically, locking in your profit.

      2. Stop Loss: Set a price level where you want to limit your losses. If the market moves against you and hits this price, your position will close automatically, preventing further losses. Toggle these settings on or off and specify the exact prices to match your trading strategy. Effective risk management helps protect your capital and enhance long-term trading success.

Got further questions? Join our discord!

https://discord.com/invite/CDAqx9MZBN