Your First Trade
Use the workflow below to fund an account, choose a market, place an order, monitor risk, and close the position.
Before You Trade
Make sure you have:
- A trading account
- Available allowlisted collateral
- The market you want to trade
- A clear view of your chosen leverage and liquidation risk
In the current closed beta, the allowlisted collateral asset is USDC.
Open A Position
- Choose a market. Ollo's current product focus is FX perpetuals.
- Choose a side. Go long if you expect the pair price to rise. Go short if you expect it to fall.
- Set collateral and leverage. Your collateral becomes committed margin, and leverage determines the resulting notional size.
- Choose an order type.
- Market order executes against the best available liquidity.
- Limit order rests on the book until it can trade at your chosen price or better.
- Submit the order. In the current protocol and closed beta API flow, margin is checked before the order is accepted.
Monitor The Position
After the order fills, keep track of:
- Entry price
- Mark price
- Unrealized PnL
- Available versus committed margin
- Liquidation price
- Pending funding
Funding is settled lazily, and liquidation checks use the effective position state after pending funding is accounted for.
Add, Reduce, Or Close
You can manage the position in several ways:
- Place another order on the same side to increase size
- Place an opposite-side order to reduce or close
- Use the close-position flow exposed by the API when available
Closing realizes PnL back into margin. If the fill fully exits the position, the protocol clears the virtual token balances and debt associated with that trade.
Practical Notes
- Higher leverage means a smaller adverse move is needed to reach liquidation.
- Closing orders do not require new collateral if they are only reducing or exiting an existing position.
- Withdrawals are only available from free, not committed, margin.