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Flamingo Advanced Trade
In this section we explain Flamingo Advanced Trade and how to buy and sell tokens with market orders.
Advanced Trade is a new trading section for advanced traders on Flamingo.Finance where you can search for and select trading pairs, see data on the price history of trading pairs, execute trades, and more.
Note: You can also still use Convert to trade assets in a more simple form of trading if you wish.
A trading pair is two assets that can be traded against each other, usually on an exchange. They are often displayed as such: BTC/USD. When they are displayed as such, the first asset is called the base asset and the second asset is called the quote asset. In the case of this BTC/USD trading pair example, BTC would be the base asset and USD would be the quote asset. Think of it like this: when the trading pair is BTC/USD, the prices are quoted in USD.
Area A - Trading Pair Info
On the Trading Pair Info panel, you can get information about the selected trading pair at a glance and see the price of the base token in USD no matter the quote token.
Area B - Trading List
On the Trading List, you can see all trades on the trading pair happening live, and can also check your own trading history for the active pair.
Area C - Trading View
You can get the full power of Trading View™ on your favorite Flamingo trading pair. You can add indicators, compare prices against other pairs, and see live prices down to the minute.
Area D - Trade Panel
On the Trade Panel, you'll be able to buy and sell the token of the selected pair by dragging easy-to-use sliders or setting amounts manually. For now, the Trade Panel only features market orders (see below to learn how to execute one), but limit orders (together with a complete on-chain order book) will come soon.
Area E - Trading Pair Selector
On the Trading Pair Selector, you can browse and select the pair you wish to trade in the searchable trading pair list on the right. Here, you can also get a glance on how every trading pair on Flamingo is performing at the moment.
How to Execute a Market Order
A market order is an order to buy or sell a token at the market's current best available price. A market order typically ensures an execution, but it does not guarantee a specified price. Market orders are optimal when the primary goal is to execute a trade immediately. We'll walk you through how to execute one.
Things you will need:
- A computer with an installed internet browser
- A Neo N3 wallet
- Assets to trade
- Neo N3 GAS tokens for transaction fees
2. If your wallet isn't already connected, scroll down to the Market tab and select Connect Wallet.
3. Select a wallet to connect. For this example we will use NeoLine.
4. At your NeoLine wallet, select Connect.
5. Now that your wallet is connected, select the trading pair you would like to trade. For this example we will trade the GAS/FLM pair, and sell GAS for FLM.
6. On the Market tab, adjust your Slippage and Deadline Settings as you wish. Then, enter the amount of the asset you wish to buy and select Buy or enter the amount of the asset you wish to sell and select Sell. In this case we will sell 1 GAS for 28.62 FLM.
7. Read over your transaction details. If you agree, select Confirm.
8. At your NeoLine wallet, read over the transaction details. If you agree, select Yes.
9. Success! Your trade was successful. On your NeoLine wallet, select Done. On Flamingo, select Close.
That's it! You have now traded assets using a market order on Flamingo Advanced Trade.