> ## Documentation Index
> Fetch the complete documentation index at: https://docs.agonaut.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Your first trade

> Place a long or short on Agonaut, with leverage, take profit, and stop loss.

With a funded balance and trading activated, you are ready to place an order.

<Steps>
  <Step title="Pick a market">
    Choose a market from the selector, for example BTC-PERP. The chart, order
    book, and recent trades update to that market.
  </Step>

  <Step title="Choose a side">
    Long if you expect the price to rise, Short if you expect it to fall.
  </Step>

  <Step title="Set leverage and size">
    Set your leverage and the size of the position. The form shows your
    estimated liquidation price, margin, and fee before you commit.
  </Step>

  <Step title="Pick an order type">
    Market for an immediate fill, or Limit to set your own price. You can attach
    a take profit and stop loss in the same ticket.
  </Step>

  <Step title="Review and confirm">
    A confirmation step shows the full order. Review it, then sign. Once signed,
    the order is live on Hyperliquid.
  </Step>
</Steps>

<Warning>
  Trading perpetual futures with leverage carries real risk. A position can be
  liquidated, and you can lose your margin. Never trade more than you can afford
  to lose.
</Warning>

## Take profit and stop loss

You can attach exits to a position so they trigger automatically:

* **Take profit** closes the position once price reaches a target in your
  favor.
* **Stop loss** closes the position once price moves against you past a limit.

Agonaut warns you and blocks the order if a take profit or stop loss is set on
the wrong side of your entry, so you cannot accidentally invert them.

## Next

* Learn the full set of [order types](/trading/order-types).
* Enable [instant trading](/trading/agent-wallet) to skip per order popups.
* See how your activity turns into [points](/rewards/points).