Market Cap: $2.7965T 0.480%
Volume(24h): $121.5102B -17.520%
Fear & Greed Index:

20 - Extreme Fear

  • Market Cap: $2.7965T 0.480%
  • Volume(24h): $121.5102B -17.520%
  • Fear & Greed Index:
  • Market Cap: $2.7965T 0.480%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top Cryptospedia

Select Language

Select Language

Select Currency

Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos

How to open a MEXC contract cooling-off period

Traders can temporarily pause their MEXC contract trading activities for 7, 15, 30, or 90 days through the Cooling-Off Period feature to manage trading challenges or take a break.

Nov 09, 2024 at 01:05 pm

How to Open a MEXC Contract Cooling-Off Period

For various reasons, a trader may find themselves in a situation where they need to temporarily disable their contract trading activities. MEXC Exchange offers a "Cooling-Off Period" feature that allows users to pause their contract trading activities for a specified duration. This can be useful for traders who feel they need a break from trading, want to reassess their trading strategy, or simply need some time away from the markets.

Step 1: Determine the Need for a Cooling-Off Period

Not all cases require the activation of a cooling-off period. A trader may decide to activate this feature if they experience the following:

  • Emotional trading or excessive risk-taking
  • Continuous losses and a significant drawdown
  • Difficulty controlling trading impulses
  • The need for a mental break from trading activities

Step 2: Access the MEXC Cooling-Off Period Settings

To initiate a cooling-off period, follow these steps:

  1. Log in to your MEXC account and select "Contracts" from the menu.
  2. Click on the "Settings" tab and locate the "Cooling-Off Period" section.
  3. Adjust the sliders to set the desired suspension duration. You may choose between 7, 15, 30, or 90 days.
  4. Once satisfied with the settings, click "Confirm" to activate the cooling-off period.

Step 3: Effects of the Cooling-Off Period

Once the cooling-off period is active:

  • All contract trading activities, including order placement, order liquidation, and adjustments, are temporarily suspended.
  • Existing open positions will be liquidated at the market price.
  • Funding payments on the perpetual contracts will cease.

Step 4: Revoking the Cooling-Off Period

If after some time, a trader feels ready to resume their contract trading activities before the expiration of the cooling-off period, it can be canceled as follows:

  1. Log in to your MEXC account and navigate to the "Contracts" section.
  2. Click on the "Settings" tab and locate the "Cooling-Off Period" section.
  3. Click on the "Cancel" button to revoke the cooling-off period.

Step 5: Resumption of Contract Trading

Upon the expiration of the cooling-off period or its cancellation, the trader can resume their contract trading activities as usual.

  • All trading functionality will be restored.
  • The trader can place new orders, adjust existing orders, and manage their positions.

Additional Considerations:

  • A trader is only allowed to activate one cooling-off period within a 12-month period.
  • While the cooling-off period is active, it is recommended to take time to reflect on the reasons behind the trading difficulties and consider seeking professional advice or educational resources if necessary.

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.

Related knowledge

What are the risk control methods in Bitcoin contract trading?

What are the risk control methods in Bitcoin contract trading?

Feb 28,2025 at 06:07am

What are the Risk Control Methods in Bitcoin Contract Trading?Key Points:Understanding Leverage and Position Sizing: Proper leverage utilization and precise position sizing are fundamental to risk management in Bitcoin contract trading. This involves understanding your risk tolerance and capital allocation strategies.Stop-Loss Orders: Your First Line of...

How to choose leverage in Bitcoin contract trading?

How to choose leverage in Bitcoin contract trading?

Feb 28,2025 at 01:06am

How to Choose Leverage in Bitcoin Contract Trading?Key Points:Understanding Leverage and its Risks: Leverage amplifies both profits and losses. A higher leverage multiplies gains but equally magnifies potential losses, potentially leading to liquidation. This section will delve into the mechanics of leverage and its impact on your trading capital.Assess...

What does liquidity mean in Bitcoin contract trading?

What does liquidity mean in Bitcoin contract trading?

Feb 27,2025 at 08:19pm

What Does Liquidity Mean in Bitcoin Contract Trading?Key Points:Liquidity's Core Meaning: Liquidity in Bitcoin contract trading refers to the ease with which a trader can buy or sell a Bitcoin contract without significantly impacting its price. High liquidity means orders are filled quickly at the current market price, while low liquidity implies diffic...

How to set up stop-profit and stop-loss for Bitcoin contracts?

How to set up stop-profit and stop-loss for Bitcoin contracts?

Feb 28,2025 at 02:49am

How to Set Up Stop-Profit and Stop-Loss for Bitcoin Contracts?Key Points:Understanding Leverage and Risk: Bitcoin contracts utilize leverage, magnifying both profits and losses. Stop-loss and stop-profit orders are crucial for risk management in this high-volatility market. Incorrectly setting these orders can lead to significant financial losses. Under...

Is Bitcoin contract suitable for beginners?

Is Bitcoin contract suitable for beginners?

Feb 28,2025 at 04:25am

Is Bitcoin Contract Suitable for Beginners?Key Points:Understanding Bitcoin Contracts: Bitcoin contracts, primarily referring to Bitcoin futures and options, are complex financial instruments that involve significant risk. Beginners lack the necessary experience to accurately assess and manage this risk.Leverage and Risk: The high leverage offered by Bi...

What is the forced liquidation mechanism of Bitcoin contracts?

What is the forced liquidation mechanism of Bitcoin contracts?

Feb 28,2025 at 03:43am

What is the Forced Liquidation Mechanism of Bitcoin Contracts?Key Points:Understanding the concept of margin trading and leverage in the context of Bitcoin contracts.Detailing how liquidation prices are calculated based on position size, leverage, and the current market price.Exploring the different types of liquidation mechanisms employed by various cr...

What are the risk control methods in Bitcoin contract trading?

What are the risk control methods in Bitcoin contract trading?

Feb 28,2025 at 06:07am

What are the Risk Control Methods in Bitcoin Contract Trading?Key Points:Understanding Leverage and Position Sizing: Proper leverage utilization and precise position sizing are fundamental to risk management in Bitcoin contract trading. This involves understanding your risk tolerance and capital allocation strategies.Stop-Loss Orders: Your First Line of...

How to choose leverage in Bitcoin contract trading?

How to choose leverage in Bitcoin contract trading?

Feb 28,2025 at 01:06am

How to Choose Leverage in Bitcoin Contract Trading?Key Points:Understanding Leverage and its Risks: Leverage amplifies both profits and losses. A higher leverage multiplies gains but equally magnifies potential losses, potentially leading to liquidation. This section will delve into the mechanics of leverage and its impact on your trading capital.Assess...

What does liquidity mean in Bitcoin contract trading?

What does liquidity mean in Bitcoin contract trading?

Feb 27,2025 at 08:19pm

What Does Liquidity Mean in Bitcoin Contract Trading?Key Points:Liquidity's Core Meaning: Liquidity in Bitcoin contract trading refers to the ease with which a trader can buy or sell a Bitcoin contract without significantly impacting its price. High liquidity means orders are filled quickly at the current market price, while low liquidity implies diffic...

How to set up stop-profit and stop-loss for Bitcoin contracts?

How to set up stop-profit and stop-loss for Bitcoin contracts?

Feb 28,2025 at 02:49am

How to Set Up Stop-Profit and Stop-Loss for Bitcoin Contracts?Key Points:Understanding Leverage and Risk: Bitcoin contracts utilize leverage, magnifying both profits and losses. Stop-loss and stop-profit orders are crucial for risk management in this high-volatility market. Incorrectly setting these orders can lead to significant financial losses. Under...

Is Bitcoin contract suitable for beginners?

Is Bitcoin contract suitable for beginners?

Feb 28,2025 at 04:25am

Is Bitcoin Contract Suitable for Beginners?Key Points:Understanding Bitcoin Contracts: Bitcoin contracts, primarily referring to Bitcoin futures and options, are complex financial instruments that involve significant risk. Beginners lack the necessary experience to accurately assess and manage this risk.Leverage and Risk: The high leverage offered by Bi...

What is the forced liquidation mechanism of Bitcoin contracts?

What is the forced liquidation mechanism of Bitcoin contracts?

Feb 28,2025 at 03:43am

What is the Forced Liquidation Mechanism of Bitcoin Contracts?Key Points:Understanding the concept of margin trading and leverage in the context of Bitcoin contracts.Detailing how liquidation prices are calculated based on position size, leverage, and the current market price.Exploring the different types of liquidation mechanisms employed by various cr...

See all articles

User not found or password invalid

Your input is correct