Trading Guide

Once you've joined a challenge, you can start trading on Hyperliquid. Your performance during the challenge period determines your ranking on the leaderboard.

Understanding Your Challenge Wallet

When you join a challenge, DeltaDash creates an embedded wallet specifically for that challenge. This is separate from your main wallet:

  • Root Wallet - Your connected wallet (MetaMask, etc.)
  • Challenge Wallet - An embedded trading wallet created for each challenge you join

This separation ensures your challenge trading is isolated and tracked accurately.

Trading Interface

The trading interface provides everything you need to execute trades:

  • Price Chart - Real-time price data and candlestick charts
  • Order Panel - Place market and limit orders
  • Positions - View your open positions and P&L
  • Order History - Track your pending and filled orders
  • Balance - Monitor your available margin

Placing Orders

Market Orders

Market orders execute immediately at the current market price:

  1. Select the asset you want to trade
  2. Choose Buy or Sell
  3. Enter the order size
  4. Click Place Order

Limit Orders

Limit orders execute only when the price reaches your specified level:

  1. Select the asset
  2. Choose Buy or Sell
  3. Enter your limit price
  4. Enter the order size
  5. Click Place Order

Managing Positions

Viewing Positions

Your open positions show:

  • Entry Price - Average price you entered at
  • Current Price - Live market price
  • Size - Position size
  • Unrealized P&L - Current profit/loss
  • Liquidation Price - Price at which your position would be liquidated

Closing Positions

To close a position:

  1. Find the position in your positions list
  2. Click Close or place an opposing order
  3. Confirm the transaction

Setting Stop-Loss and Take-Profit

Protect your positions with automated exit orders:

  • Stop-Loss - Automatically close at a loss limit to prevent larger losses
  • Take-Profit - Automatically close when your profit target is reached

Leverage

Hyperliquid supports leverage trading. Higher leverage amplifies both gains and losses:

  • Lower leverage = Lower risk, lower potential returns
  • Higher leverage = Higher risk, higher potential returns

Warning: Trading with leverage carries significant risk. You can lose more than your initial deposit.

Performance Tracking

During the challenge, track your performance:

  • P&L - Your profit or loss in dollar terms
  • Return % - Your percentage return (used for leaderboard ranking)
  • Rank - Your current position on the leaderboard