# Order Actions

## Prerequisites

Make sure you've set up and connected your wallet on the Monad network. You can submit orders directly through the [interface](https://pingu.exchange/) or by using the [smart contract documentation](/pingu-exchange-docs/other/smart-contract-documentation.md).

## Submit Order

### Select a Market

Select a market to trade from the market drop-down list.

## **Select a Direction**

Buy orders will create a new long position, add to an existing long position, or reduce an existing short position.

Sell orders will create a new short position, add to an existing short position, or reduce an existing long position.

## **Select an Order Type**

In combination with the Order panel, you have access to a wide variety of order types. Learn more.

## **Select an Asset**

Select MON or USDC. Your order's margin will be denominated in this asset.

## **Select Leverage**

Leverage multiplies your potential profits and losses. The more leverage you use, the less margin (real balance) you need to achieve a given order size.

## **Enter Order Size**

This is your total order size, equal to leverage × margin. For example, an order size of 50,000 MON at 50× leverage will use 1,000 MON in margin (actual balance) from your wallet.

Once submitted, your order will appear in the Orders panel. It will remain there until [settlement](https://docs.pingu.exchange/pingu-exchange-docs/trade/orders/order-settlement).

The minimum order size is 100 USDC.

## **Update Price**

You can update a limit or stop order's price directly from the Orders panel or from the Position bar.

## **Cancel Order**

You can cancel an order by clicking on the X/Close button. . This will return the margin tied to the order (plus fees) to your wallet.

You can cancel all current orders by clicking on the Cancel All button.


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