Skip to main content

How to Start Trading

Prerequisites​

Before you begin, you need:

  • A Stellar wallet or a smart account. You have two options:
    • Browser wallet: Zenex supports Freighter, xBull, Ledger, Lobstr, Albedo, Hana, and Hot Wallet.
    • Smart account: Create a passkey-based smart account directly from Zenex. No seed phrase, no extension. Just your device's biometrics (fingerprint, Face ID) or a security key.
  • The vault's collateral token (e.g., USDC) in your account.

Step 1: Connect or Create an Account​

Click Connect in the bottom-left corner. From here you can either select an existing browser wallet, connect an existing passkey account, or create a new smart account using a passkey. No wallet extension needed.

Session Keys: One-Click Trading​

When using a smart account, each trade normally requires a passkey prompt (biometric confirmation). To streamline this, Zenex offers session keys: a temporary signing key that lets you trade with a single click for up to 4 hours, without repeated passkey prompts.

To enable session keys, toggle Session Key after connecting your smart account. An ephemeral key is generated and authorized on your account. When the session expires, simply re-enable it. Session keys can only be used for trading actions and can be revoked at any time.

Step 2: Select a Market​

Choose the asset you want to trade like XLM and BTC.

Step 3: Choose Your Direction​

Select Long if you expect the price to go up, or Short if you expect it to go down.

Step 4: Set Your Collateral and Leverage​

Enter the amount of collateral you want to allocate and choose a leverage multiplier (up to 100x). Your notional position size equals collateral multiplied by leverage. For more details, see Leverage and Collateral.

Step 5: Set Entry Price​

Choose your order type. A market order executes at the current oracle price. A limit order lets you specify the exact price at which you want to enter.

Step 6: Set Stop-Loss and Take-Profit (Optional)​

Add stop-loss and take-profit triggers to automate your risk management. A stop-loss closes your position if the price moves against you beyond a threshold, while a take-profit locks in gains at a target price. See Liquidation for more on how positions are protected.

Step 7: Review and Submit​

Review your position details: direction, collateral, leverage, entry price, and any triggers. When everything looks correct, click Submit and sign the transaction in your wallet.

Managing Your Position​

Once your position is open, you can modify it at any time: add or remove collateral, update your stop-loss and take-profit triggers, or close the position entirely. See PnL Calculations to understand how your profit and loss are computed, and Fees for applicable trading costs.