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How to open a contract on Poloniex
To open a futures contract on Poloniex, you must create and fund an account, locate the desired futures market, select the contract type, set contract size and leverage, place the order, and continuously monitor your position.
Nov 26, 2024 at 08:59 pm
How to Open a Contract on Poloniex
Poloniex is a cryptocurrency exchange that offers a variety of trading options, including futures contracts. Futures contracts are agreements to buy or sell an asset at a set price on a future date. They can be used for hedging or speculation.
How to Open a Position on Poloniex:
1. Create an Account and Fund It
You will need to create an account on Poloniex and fund it with the cryptocurrency you wish to trade. You can deposit cryptocurrency from another exchange or wallet, or you can purchase cryptocurrency directly from Poloniex using a credit card or bank transfer.
2. Find the Futures Market
Once you have funded your account, you will need to find the futures market for the asset you wish to trade. You can do this by searching for the asset name in the search bar at the top of the Poloniex website.
3. Select the Contract Type
There are two types of futures contracts on Poloniex: perpetual and quarterly. Perpetual contracts do not have an expiration date, while quarterly contracts expire on a specific date. Choose the contract type that best suits your trading needs.
4. Set the Contract Size
The contract size is the amount of the asset that you are agreeing to buy or sell. You can choose the contract size that you wish to trade, but keep in mind that larger contract sizes will require more margin.
5. Set the Leverage
Leverage is the amount of money that you are borrowing from the exchange to trade. You can choose the leverage that you wish to use, but keep in mind that higher leverage will increase your risk of loss.
6. Place the Order
Once you have set all of the parameters for your trade, you can place the order. You can choose to buy or sell the contract, and you can set a limit price or a market price.
7. Monitor Your Position
Once you have opened a contract, you will need to monitor it closely. You can check the value of your contract in the "Positions" tab of your account. You can also close the contract at any time by clicking on the "Close" button.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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