Trading in LOBSTR wallet

Direct access to Stellar Decentralized Exchange (SDEX) lets you buy and sell Stellar assets inside your account in LOBSTR wallet. 

Before trading your assets, you should establish a trustline to the chosen asset remembering that in accordance with the Stellar Network rule (not decided by LOBSTR wallet), the base minimum balance (1 XLM) raises by 0.5 XLM with each created trustline or active trade offer. When the asset is added to your account, you'll be able to trade it.

How to place an order

You will need to do the following to place an order:

1. Open the 'Trade' tab in the side menu of the LOBSTR web version.

2. Choose a corresponding trading pair. There is also an option to choose any asset-to-asset pair

3. Scroll down a little and select the Order type

Here you can set an order type as limit (you can set your custom price) or market (price is set automatically in accordance with the current market order book).

4. Specify the amount you'd like to buy/sell, price and check the total amount.

You can click on the available amount to sell the maximum available amount and tap on a certain offer in the Order book to use the desired price.

Trade offers are completed automatically only with the presence of relevant reverse offers on the market.

LOBSTR does not affect the trading volume and price of any asset, as well as does not control offers on SDEX and does not guarantee their appearance on the market.

IMPORTANT!

With reference to the Stellar Network rules, when creating an offer for sale, the funds involved in the offer are postponed to the reserved balance and cannot be used until the order is canceled or executed.

Trading on mobile apps looks like this:

How to cancel an order

Please follow these steps to cancel an order on LOBSTR web:

1. Open the 'Trade' tab of the LOBSTR web app;

2. Scroll down to the 'My Orders' section;

3. Select the 'Active' tab;

4. Click on the (x) button next to the required offer. 

Right here you can view your orders History. After clicking on the corresponding Order in the 'History' section, its details, such as trade time, selling amount, etc. will show up.

Canceling an order on mobile apps:

1. Click on 'Orders' in the top right corner of the screen;

2. Select the 'Active' tab;

3. Click on the required offer;

4. Press the 'Cancel Order' button.

To see the History of your orders, just tap on 'History' next to the 'Active' tab.

If you have questions at any step of trading in LOBSTR, please reach out to us at support@lobstr.co.