To place an order in Dumb Mode on PancakeSwap, follow these steps:
- Select a Market: Go to Pancakeswap Perpertuals on BSC. Choose from the available markets like BTCUSD, ETHUSD, etc.
- Click on Dumb (Beta) Icon. The position interface will change to Dumb mode.
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Select Position: Choose to long or short the underlying asset*
- For long positions: If the expiry price is greater than the entry price, user will win the trade and make profit.
- For short positions: If the expiry price is less than the entry price, users will win the trade and make profit.
- Otherwise, user will lose the entire collateral.
- Refer to notes for more details on position
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Set Margin and Amount: Select your margin asset (USDC, USDT, CAKE, etc.) and specify the amount for collateral.
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Choose Duration: Decide on the expiration of your trade - 60s, 5m, or 10m.
- Place Order: Review the ROI, confirm details and place your trade by clicking Open Position*
- Monitor Trade: Once the trade is placed, monitor its progress until completion via the “Position” tab. Users cannot close trades before expiration
- Settlement: Upon the trade's conclusion, if successful, your ROI will be credited minus the 6% fee. If the trade is not successful, the loss will be 100%.
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- Please note that the expiration timer doesn't start when you click on the 'OpenPosition' button; instead, the 60-second / selected duration countdown commences from the instant the transaction gets confirmed on the blockchain
- The price you see displayed serves only as a reference. The final entry price will be determined by the price point at the exact moment the transaction is confirmed on the blockchain. This will be updated on the “position” tab
- Understand the Risks: Be aware of the high risks involved, especially with the -100% ROI on losses.
- Manage Your Collateral: Only invest what you can afford to lose.
- Stay Informed: Keep up to date with market trends for the assets you're trading.