How to Trade Long OPerps - LCO or LPO?
Last updated
Last updated
How to do the first task?
Step 1: Go to Operps (if you are not already there). When you visit the Operps website without a connected wallet, the following screen will appear.
Step 2: Connect your wallet to the BNB Chain (if you haven't already done so, as shown below):
Step 3: Go through the guided tour. Once you connect your wallet, you will see the following page. Click on 'Start guided tour' and learn how to trade on OPerps in under 1 minute.
Please note: OPerps are not perpetual futures (a.k.a. perps), spot market trading, or margin trading. OPerps are the first product of their kind, and going through the guide will help you understand them and leverage that information to your benefit. OPerps are very easy to use, making them accessible for both beginners and experienced traders.
After completing the guided tour, if you want to go through it again, you can do so by clicking on the 'Guide' button as shown below:
Step 4: Choose the token you would like to trade. Please note that to trade on BNB, you have ETH, BTC, DOGE, and FLOKI available.
I have chosen ETH 2-hour cycle, Long Put OPerps here.
Why? Because the expected leverage in the next cycle is 3373x, which essentially means a profit of 8382%, with a maximum loss capped at 50%. So if I invest $2 and the price goes up (Long Put is for those who think the price will go down), I can only lose $1. However, if the market moves in my favor, I will earn $1 multiplied by the percentage price change multiplied by the leverage.
To learn more about leverage and cycle please check the links.
Step 5: Put $2 and buy ETH LPO. Read on if you want to know how to monitor and exit.
Once you click 'Buy' you will see the following message:
Please note, the tokens will now be placed in 'Open Orders' until the start of the next cycle. At the beginning of the next cycle, the tokens will be shown under the 'Positions' tab where you can also see the current P&L, tentative balance, etc.
Step 6: You just have to observe the market and check the P&L as shown on the screen. Towards the end of the cycle, decide whether you would like to continue trading or exit the trading cycle. Please note, to exit, click on 'Sell' in the positions tab; otherwise, your current position will be rolled over to the next cycle.
Hint: If you have lost money in the current cycle, it means that others have too, which will lead to higher leverage in the next cycle. Therefore, it might be worth staying in. Leverage is calculated as the ratio of Short OPerps to Long OPerps, so Long OPerps losing in the current cycle will increase the number of Short OPerps, resulting in higher leverage.
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