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Crypto.com contract trading steps
To start contract trading on Crypto.com, users must first create an account, fund it, choose a contract and trading mode, place an order, manage their position, and close it when desired.
Nov 28, 2024 at 09:53 am
Crypto.com Contract Trading: An Extensive Guide for Beginners
Step 1: Open a Crypto.com Account
- Visit the Crypto.com website or download the mobile app.
- Click on "Sign Up" to create an account.
- Provide your email address, create a password, and complete the verification process.
- Once your account is verified, you can access the contract trading platform.
Step 2: Fund Your Account
- Go to the "Wallets" tab in the Crypto.com dashboard.
- Click on "Deposit" and choose a deposit method (e.g., bank transfer, credit card).
- Follow the instructions to deposit funds into your Crypto.com account.
- Make sure you have sufficient funds in your account to cover margin calls.
Step 3: Choose a Contract and Trading Mode
- In the Contract Trading tab, select a trading pair (e.g., BTC/USD).
Choose a trading mode:
- Standard: Basic order types (limit, market, stop-limit)
- Advanced: More complex order types (OCO, Stop OCO, Trailing Stop)
Step 4: Place an Order
Standard Mode:
- Select "Limit" to set a specific buy or sell price.
- Enter the amount you want to trade and the desired price.
- Click "Buy" or "Sell" to place the order.
Advanced Mode:
- Choose a more complex order type (e.g., OCO, Stop OCO).
- Set multiple conditions and triggers for the order execution.
Step 5: Manage Your Position
- Once your order is executed, it will appear under "My Positions."
- Track the performance of your position in real-time.
- Margin calls may occur if the price moves significantly against your position.
- Adjust your position or add funds to your account to prevent liquidation.
Step 6: Close Your Position
- To close a position, select the "Close" button for that position.
- If you hold a long position (betting on price increase), the "Close" button will be "Sell."
- Conversely, if you hold a short position (betting on price decrease), the "Close" button will be "Buy."
- Click "Confirm" to close the position and realize your profit or loss.
Additional Tips
- Learn margin trading basics: Understand leverage, margin calls, and liquidation.
- Start with small amounts: Begin trading with small amounts to minimize risk.
- Set stop-loss orders: Protect your profits and prevent significant losses.
- Monitor market trends: Stay updated on market news and sentiment to make informed trading decisions.
- Practice on a demo account: Experiment with different trading strategies and risk management techniques in a risk-free environment.
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！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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