🕶️Trading on WOWswap Pro
WOWswap swap version is easy to use like you would use Uniswap style interface.
However, some traders need more functionality for trading, so the WOWswap released the Pro version of WOWswap. In this guide you will get the most detailed guide on all the functionality of WOWswap Pro.
In order to get into WOWswap Pro, you need to select the Pro tab on the main page of the website.
Now only the dark version of WOWswap Pro is available. To get started, you need to connect your crypto-wallet by clicking “Connect Wallet” button. In the window that opens, select your type of crypto wallet and then confirm joining WOWswap Pro.
WOWswap website offers several features:
Swap - when you click, you are taken to the simplified version of the site originally created.
Earn - section for placing your assets to earn passive income
Portfolio - this section displays your open long and short positions
Alerts - in this section you can set up notifications via Telegram, e-mail or browser that your position has reached a certain level of profit or is about to be liquidated
Also, there is a button in the top dashboard that you can click to select a network for trading:
To the left of the selection button is your wallet balance (only the balance in BNB is displayed for the BNB Chain)
Let's take a look at the side dashboard:
The gear icon opens the settings menu:
Here you can configure the Slippage and Transaction deadline
The Amount section shows the amount of tokens you're contributing to the transaction.
Please note that the transaction cannot be the equivalent of less than $23 on BNB chain
When you click on the MAX button, the transaction will use the entire amount of tokens you have. You can select the token you will use for the exchange using the drop-down menu. Above the drop-down menu button displays the balance of those tokens in your wallet.
You can use the scroll bar to apply any leverage up to 5X. Moving the slider to the right will set the leverage and a long position. Moving the slider to the left will set your leverage and position to short.
Under the scroll bar, you will see the size of your position, including leverage, and the token selected to open the position.
One of the important innovations was the introduction of limit orders for setting Take Profit and Stop Loss. They are set as a percentage of the point of entry into the position. To apply them, you must move the slider from the "off" position to the "on" position.
On the right side there is a chart, similar to the TradingView chart. You can mark on it various elements of technical analysis and your positions.
Let's look at an example of opening a trade.
In this example, we open a short position on $ADA token using 2X leverage and $BUSD token as an exchange token. Also, we use limit orders to place a Take Profit of 3% and Stop Loss of 1%. Our position will be $58 $ADA.
To confirm the position opening, we need to click Open Position and confirm the transactions in our wallet. by clicking Confirm Swap in the window that will open:
After confirming the transaction, you can add the purchased token to your crypto wallet or just close the window.
Now your open position will be displayed in WOWswap Pro. To close the position, click "Close" and confirm the transaction:
WOWswap allows you to apply any trading strategy and comfortably control your positions.