The PowerTrade exchange allows you to build structures of multi-legged orders using the various instruments available including but not limited to Spot, Options, and Futures (coming soon). This guide lays out how to do this using the PowerTrade mobile app user interface.
Build a Multi-legged Structure
Navigate to the Trading Screen
To start, navigate to the trading screen by tapping the lightning bolt icon.
Next, tap the Markets drop down menu to open the market selector. You should now see the markets available to trade. Tap any instrument you want to trade. For the purposes of this guide, we will create a simple BTC Options, so please choose Bitcoin on this Markets screen.
You should now be brought back to trading screen of the selected market. Tap on the "Trade" button, then choose "Trade Options".
You can create your own customized structure by mixing and matching different types of instruments.
Select a Strategy
From this point, you can add individual order legs manually or choose from one of several common pre-defined strategies based on your view of the market. To do that, tap on the desired Expiration date on top. Then, tap "Select a Strategy" button.
Choose the direction that you think the market would go and tap one of pre-defined strategies that we recommend. For the purposes of this guide, we will be building a BTC Options Call Spread.
Once a strategy has been selected, the system will populate the appropriate order legs based on the strategy template. If prices are available for the selected contracts, the outright cost of the contracts as well as a payoff graph will be displayed on the bottom panel.
In this case, the two legs that have been selected are:
- 1x BTC-05Aug22-24000C
- -1x BTC-05Aug22-24500C
Adjust the Structure
At this point, all the parameters of the multi-leg order are set to template defaults, but these are easy to adjust using the "Nudge Bar". To open it, tap Settings (gear icon) on the top right corner.
As you use the various buttons on the Nudge Bar to adjust the various parameters of the multi-leg order, the various parts of the trading UI will change accordingly, and this will let you visualize how the order will be affected by the adjustments.
Nudge Bar: Strikes
Use the backward and forward arrow buttons to move the strike prices of all legs at the same time.
Nudge Bar: Width
Use the narrow and wide buttons to move the buy and sell legs closer and farther apart respectively.
Nudge Bar: Expirations
Use the minus and plus buttons to change the expiration dates.
The number of contracts in each leg can be adjusted manually by tapping Edit Ratio and typing in numbers in the text entry fields to the right of each item.
You can also invert the entire structure by changing the direction from the default Long to Short by toggling the Long/Short tab. Long means that you are placing a long order for the entire set of legs, and Short means that you are shorting the entire set of legs (which can include Buys and Sells).
Optional: Add More Legs
At this point you may choose to add additional legs to your structure by tapping "+ Add leg" button.
The additional legs will appear in the order list, and if you were previously using a strategy template, the strategy name will now read "Custom".
Enter the Order
Tap Next to reveal the order entry screen.
Here you can enter the Size of Contracts of the structure you would like to order as well as specify a Limit Price. Note that not taking the suggested limit price may result in the entire order taking a long time to fill due to the many legs that comprise the structure.
Once you're ready, tap Review button to proceed to the order confirmation screen.
Confirm the Order
This will bring up the order review screen. Swipe upwards from the bottom of the screen to complete your order.