> ## Documentation Index
> Fetch the complete documentation index at: https://faction.trade/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# Trading

> Everything about trading perpetual contracts on Faction Trade.

Faction Trade gives you a full-featured trading terminal connected directly to Hyperliquid's order book. You can trade perpetual contracts with up to 20x leverage, set take profit and stop loss levels, and manage your positions in real time.

<Warning>
  Perpetual futures trading involves significant risk. You can lose more than your initial margin. Only trade with funds you can afford to lose.
</Warning>

## Learn to trade

<CardGroup cols={2}>
  <Card title="How to trade" icon="play" href="/trading/how-to-trade">
    Place your first trade in five steps.
  </Card>

  <Card title="Order types" icon="list-ordered" href="/trading/order-types">
    Market, limit, and stop orders explained.
  </Card>

  <Card title="Leverage and margin" icon="gauge" href="/trading/leverage-margin">
    Understand leverage, margin modes, and liquidation.
  </Card>

  <Card title="Take profit and stop loss" icon="shield" href="/trading/tp-sl">
    Protect your gains and limit your losses.
  </Card>
</CardGroup>

## Interface guide

<CardGroup cols={3}>
  <Card title="Asset selector" icon="search" href="/trading/asset-selector">
    Browse tradable assets and market data.
  </Card>

  <Card title="Order book" icon="book-open" href="/trading/order-book">
    Read bid/ask depth and spread.
  </Card>

  <Card title="Positions" icon="layers" href="/trading/positions">
    Manage positions, orders, and history.
  </Card>
</CardGroup>