Trading Terminal Guide

Content

Step 1: Logging In

1. If you haven't registered on kyrrex.mt yet, create your own personal account. Enter your username and password and proceed to complete the registration and verification process.
2. If necessary complete additional security steps such as two-factor authentication.

Step 2: Navigating the User Interface

Let’s get acquainted and explore the user interface, the main dashboards, and customizable options that will empower you to take full control of your trading activities and achieve your financial goals.

The crypto trading terminal consists of two main parts:

• An integrated chart that displays price data and technical indicators, aiding traders in analyzing market trends and making informed decisions.
• The trading component, where traders input parameters such as price and amount to execute trades and participate in the market. This part facilitates the actual buying or selling of financial instruments based on the trader's inputs.

Order book (1): The order book panel on Kyrrex, similar to the feature provided by TradingView, displays live open orders in a ladder format providing real-time visibility into the current market depth.

Depth chart (2): The depth chart provides a graphical depiction of the order book, presenting the relative size of bid and ask orders at various price levels, accompanied by the cumulative size of those orders. Widely used in scalp trading where the liquidity and volumes at different price levels can serve as enter/exit position indicators.

Order panel

The order (buy/sell) panel is where you can place orders that will be instantly executed or displayed in the order book.

At the very top, you’ll find the trading pair and its market information. This tab shows basic price information such as current asset price, daily trading volume, and daily price change.

Price chart: The price chart is a fast and easy way to view an asset's historical pricing. Personalize your price chart by selecting a specific time range and chart type (crypto candles, lines, or bars). Leverage a comprehensive range of indicators to gain deeper insights into pricing trends and enhance your trading decisions.

Time range: You have the ability to view the price history and trading volume of an asset over a specific span of time.

The candles in crypto trading represent the range of an asset's price movement within a specific timeframe. To better understand this, you can learn how to read crypto candles. You can modify the time interval the candles represent by selecting your preferred time frame from the dropdown menu in the price chart's upper left-hand corner. Mastering how to read candles can significantly enhance your trading decisions.

In the bottom left-hand corner of the live chart, you can adjust the time period by interacting with the time range (3m, 1m, 5d, 1d) enabling you to visualize the trading volume within that timeframe.

Types of crypto trading charts (Bar Charts)

O (Open) is the initial price of the asset at the beginning of the chosen time-frame. For example, if you are trading ETH, the open price will be the price of ETH at the time when the candle you are viewing begins.

H (High) is the highest level the asset reaches during the chosen time-frame. For example, if the ETH candle opened at $1844, rose to a high of $1845, and then started moving back downwards, then the candle high is $1845.

L (Low) is the lowest price the asset reaches during the period represented by the chosen candle.

C (Close) is the final price of the asset during the time-frame represented by the chosen candle. For example, if you're viewing an ETH 4-hour candle that starts at 13:00, the Close price will be the price of ETH at 17:00.

Indicators

To achieve success as a cryptocurrency trader, it is crucial to possess knowledge of appropriate indicators and metrics, as well as their optimal usage. Consequently, here are several well-known crypto indicators that can enhance your decision-making abilities when executing trades:

Indicators serve as instruments for guiding your market-related choices. They enable the measurement of various facets of market activity, encompassing volume and price fluctuations, thereby aiding in the formation of informed perspectives regarding ongoing market dynamics.

Here are some of the best indicators for crypto:

Moving Average Convergence Divergence (MACD) shows the relationship between two moving averages of prices. The MACD is a histogram that plots two exponential moving averages (EMAs) against each other.

The Relative Strength Index (RSI) examines the magnitude of recent price fluctuations to determine whether or not the price of a cryptocurrency is overbought or oversold.

Exponential Moving Average (EMA) is a moving average that focuses more on recent data. It smooths out price fluctuations and helps identify trends. It's useful as a trading signal and works even better alongside other indicators like RSI or MACD. This combination improves the accuracy of signals during sudden market price shifts.

Step 3: Placing Orders

The crypto trading terminal features a collection of levers and buttons that enable you to establish the quantity of a token you intend to buy or sell and the price at which you wish to execute the transaction. This trading terminal is specifically designed to accommodate the crypto market's dynamic and often volatile nature.

A market order is a type of order used in crypto trading to buy or sell a cryptocurrency at the current price in the market. When you place a market order, you essentially instruct the exchange to execute your order immediately at the prevailing market price. Market orders are popular among traders who prioritize speed and want to ensure their order is filled quickly, regardless of the price.

It's important to note that when you place a market order, the actual execution price may differ slightly from the currently displayed price due to market fluctuations and the liquidity of the trading pair. Therefore, if there's a high level of volatility or low liquidity in the market, the execution price of your market order may deviate from what you initially expected.

On the other hand, a limit order allows you to specify the exact price at which you want to buy or sell a cryptocurrency. Unlike market orders, which prioritize execution speed, limit orders give you more control over the price at which your trade will be executed. When placing a limit order, you set your desired buy or sell price and wait (or hope) for the market price to reach your limit price.

For instance, you can place a limit order to buy Ethereum at $3,100, and the order will be executed only when the price reaches your $3,100 target. Your order will stay open for as long as it takes for the asset to reach your stipulated price.

One advantage of limit orders is that they allow you to take advantage of potential price fluctuations and enter or exit a trade at a specific desired price. However, it's important to note that there is a possibility that your limit order may not be executed if the market price does not reach your specified limit. In such cases, the order will remain open until the conditions are met or until you cancel the order.

Understanding the difference between market orders and limit orders is crucial for traders, as it helps them make informed decisions about how they want to execute their trades based on their individual trading strategies and goals.

Step 4: Order Execution and Monitoring

Located at the bottom of the trading terminal is a trade history tab. This tab provides access to information regarding currently active orders, past order history, and trade history. It serves as a platform for reviewing previous trading activity and managing open trades or trading positions.