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

# Learn perps, free

> Lance Learn: short, free lessons on perps, placing trades, charts and risk. No sign-in needed.

**Lance Learn** is a free course for people new to perps. It needs no sign-in and no wallet.

* **In Lance Trade:** open [Learn](https://app.lancetrade.xyz/learn) from the menu.
* **In your community's bot:** send `/learn`, or tap **📚 New to perps? Learn first** on the welcome screen.

## What's in it

32 short lessons in six parts:

| Part | What it covers |
| - | - |
| **Start here** | What Lance is, how connecting works, and what trading costs |
| **Perps basics** | Long and short, leverage, liquidation and funding, and why perps are risky |
| **Placing trades** | Market and limit orders, the order book, sizing, take profit and stop loss |
| **Reading charts** | Candles, levels and every indicator on Lance Trade's chart |
| **Risk and discipline** | How much to risk, the limits you can set, and trading psychology |
| **Community tools** | Following and copying, price alerts, your stats and the leaderboard |

Each lesson ends with its key points, common mistakes, and a short check to test yourself. There's also a glossary of the terms you'll meet.

Your progress is saved in your browser only.

> [!NOTE]
>
> Lessons explain how things work. They aren't advice on what to trade.

**Risk warning.** Trading perpetual futures with leverage is high risk. Prices can move fast and you can lose all the money you put in. Lance is software: it does not give investment advice, manage money or trade on anyone's behalf. Trades are executed on Hyperliquid, a third-party exchange that is not affiliated with Lance. Lance is not available to persons in the United States, the United Kingdom and sanctioned countries. Nothing on this site is an offer or solicitation where it would be unlawful. [Full risk disclosure](https://docs.lancetrade.xyz/legal/risk-disclosure.md)


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.