BigONE Contract Tutorial

BigONE Contract Trading empowers traders with the ability to speculate on future asset prices, offering a wide range of contract options to suit varying risk tolerances and trading goals.

Nov 26, 2024 at 01:22 pm

BigONE Contract Tutorial

Introduction

BigONE is a cryptocurrency exchange that offers a wide range of trading products, including spot trading, margin trading, and contract trading. Contract trading, also known as futures trading, is a type of trading that allows traders to speculate on the future price of an asset.

Getting Started

To start contract trading on BigONE, you will need to:

1. Create an account: If you don't already have a BigONE account, you can create one by visiting the BigONE website and completing the account creation process.
2. Fund your account: You will need to fund your account with cryptocurrency before you can start trading contracts. You can do this by depositing cryptocurrency from another wallet or by purchasing cryptocurrency directly on BigONE.
3. Open a contract trading account: Once you have funded your account, you can open a contract trading account by clicking on the "Contracts" tab on the BigONE website.

Choosing a Contract

There are a number of different contracts available to trade on BigONE. Each contract has its own unique characteristics, such as the underlying asset, the contract size, and the leverage. When choosing a contract, it is important to consider your risk tolerance and your trading goals.

Placing an Order

Once you have chosen a contract, you can place an order to buy or sell the contract. To place an order, you will need to enter the following information:

• Contract: The contract that you want to trade.
• Order type: The type of order that you want to place, such as a market order or a limit order.
• Price: The price at which you want to buy or sell the contract.
• Quantity: The number of contracts that you want to buy or sell.

Managing Your Risk

It is important to manage your risk when trading contracts. There are a number of different ways to do this, such as:

• Using stop-loss orders: Stop-loss orders are used to automatically sell a contract if it falls below a certain price. This can help you to protect your capital in the event of a sudden drop in the price of the underlying asset.
• Hedging: Hedging is a strategy that can be used to reduce your risk by taking opposite positions in two different contracts. For example, you could buy a long contract on one asset and a short contract on a different asset.

Closing a Position

When you are finished trading a contract, you will need to close your position. To close a position, you will need to enter a new order to sell the contract if you bought it or buy the contract if you sold it.