# Open Long/Short

### What is a Long Position <a href="#id-8aec553d-84b7-40a3-a58a-155d8819be78" id="id-8aec553d-84b7-40a3-a58a-155d8819be78"></a>

A long position profits when the price goes up. You are buying the asset with the expectation that its value will increase.

### What is a Short Position <a href="#id-3be7a7c2-32e1-4565-b2db-823aa9079cfe" id="id-3be7a7c2-32e1-4565-b2db-823aa9079cfe"></a>

A short position profits when the price goes down. You are selling the asset with the expectation that its value will decrease.

### How to Open a Position <a href="#b6a47ff3-46e0-44f6-b3b6-acdcfd06dbcd" id="b6a47ff3-46e0-44f6-b3b6-acdcfd06dbcd"></a>

#### Step 1: Start a trade and search for token ticker <a href="#id-3b2ae150-8ffc-4ec5-a87a-093bc182b37d" id="id-3b2ae150-8ffc-4ec5-a87a-093bc182b37d"></a>

Use `/long` or `/short` to begin.&#x20;

#### Step 2: View current price

The bot displays the current market price and your available margin.

#### Step 3: Select order type <a href="#f713fd22-76f1-47d4-892f-dbbc61d56dc7" id="f713fd22-76f1-47d4-892f-dbbc61d56dc7"></a>

Choose **Market** (executes instantly at current price) or **Limit** (executes at your specified target price). Limit orders are GTC (Good-Til-Cancelled) and execute at the exact price with no slippage.

#### Step 4: Choose margin mode <a href="#id-28cdff1a-1a4f-48e4-b9cf-2125f635c5f5" id="id-28cdff1a-1a4f-48e4-b9cf-2125f635c5f5"></a>

Select **Isolated** or **Cross** margin. This choice is locked once the position opens and cannot be changed afterward. See the Isolated vs Cross Margin page for details.

#### Step 5: Set leverage <a href="#eb2732f1-09df-4b3a-a495-018d0e802712" id="eb2732f1-09df-4b3a-a495-018d0e802712"></a>

Choose your leverage multiplier from 1x to 100x. The default is 5x.

#### Step 6: Enter trade size <a href="#id-62824909-401e-45f4-bfff-dfcfea84fc15" id="id-62824909-401e-45f4-bfff-dfcfea84fc15"></a>

Specify the amount of margin to allocate to this position.

#### Step 7: Confirm the trade <a href="#id-523b2a42-93f6-4a1e-a708-8573a35810a1" id="id-523b2a42-93f6-4a1e-a708-8573a35810a1"></a>

Review all parameters, including direction, asset, order type, margin mode, leverage, and size, then confirm to execute.

#### Step 8: Position opened <a href="#id-9e55464c-da84-4edb-bd10-b6a6fcb62f88" id="id-9e55464c-da84-4edb-bd10-b6a6fcb62f88"></a>

An Open Position Card is displayed showing direction, ticker, entry price, size, margin, and unrealized PnL.

### Setting Stop-Loss and Take-Profit <a href="#id-2ba2df9a-5db3-47db-a9fb-e331b7230db5" id="id-2ba2df9a-5db3-47db-a9fb-e331b7230db5"></a>

SL/TP cannot be set during order entry. Set them immediately after the position opens using the `/sl` and `/tp` commands. See the Stop-Loss and Take-Profit page for full instructions.

### Example <a href="#id-80050224-dace-4b5d-9d55-bee8a5b4fb94" id="id-80050224-dace-4b5d-9d55-bee8a5b4fb94"></a>

`/long HYPE` with 10x leverage:

1. Bot shows HYPE current price and your available margin
2. Select Market order
3. Choose Isolated margin
4. Set 10x leverage
5. Enter trade size
6. Review and confirm
7. Position card appears with your entry details

> 💡 **TIP:** Start with lower leverage (2-5x) if you are new to perpetual futures trading.

> ⚠️ **Fees:** There is no Click platform fee on perpetual trades. Hyperliquid maker and taker fees apply directly.