> For the complete documentation index, see [llms.txt](https://doc.rocky.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://doc.rocky.exchange/getting-started/your-first-trade.md).

# Your First Trade

A quick walkthrough from zero to an open position.

1. **Connect or create** your [Rocky Wallet](/getting-started/rocky-wallet.md).
2. **Deposit** funds (see [Deposit & Withdraw](/getting-started/deposit-and-withdraw.md)).
3. **Pick a market** — e.g. BTC or ETH perpetual.
4. **Set your leverage** and margin mode (cross or isolated).
5. **Open a position** — go long if you expect the price to rise, short if you expect it to fall.
6. **Manage it** — optionally set a take-profit and stop-loss.
7. **Close the position** to realize your profit or loss.

{% hint style="warning" %}
**Leverage cuts both ways.** Higher leverage means a smaller price move can liquidate your position. If you're new, start with low leverage and small size.
{% endhint %}

## Tips

* Use a **limit order** to control your entry price; use a **market order** for immediate execution.
* Set a **stop-loss** when you open, not after — it removes emotion from the exit.
* Watch your **liquidation price** — keep enough margin that normal volatility won't wipe you out.


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