Mobile DigiFinex contract operation process

Contract trading on DigiFinex allows traders to speculate on cryptocurrency price movements without owning the underlying assets, enabling them to capitalize on market volatility.

Nov 30, 2024 at 02:17 am

Step 1: Overview of Mobile DigiFinex Contract Operation

DigiFinex is a popular cryptocurrency exchange that offers a wide range of trading options, including contract trading. Contract trading allows traders to speculate on the price movements of cryptocurrencies without owning the underlying asset. To participate in contract trading on DigiFinex, traders must first open an account and fund it with cryptocurrency. Once an account is funded, traders can access the contract trading platform and begin placing orders.

Step 2: Accessing the Contract Trading Platform

To access the contract trading platform, traders must first log in to their DigiFinex account. Once logged in, traders can hover over the "Trade" tab and select "Contract" from the drop-down menu. This will take traders to the contract trading platform, where they can view a list of available contracts.

Step 3: Choosing a Contract

The first step in placing a contract order is to choose a contract. DigiFinex offers a variety of contracts, each with its own unique terms and conditions. Traders should carefully consider the terms of each contract before placing an order. some general characteristics to consider when choosing a contract include the contract size, the leverage, and the expiration date.

Step 4: Placing an Order

Once a contract has been chosen, traders can place an order by filling out the order form. The order form requires traders to specify the type of order they want to place, the quantity of the order, and the price they want to pay. Traders can also use the order form to set stop-loss and take-profit orders.

Step 5: Managing Risk

Contract trading can be a risky endeavor, and it is important for traders to manage their risk carefully. There are a number of ways to manage risk when trading contracts, including using stop-loss orders and position sizing.

Step 6: Monitoring the Order

Once an order has been placed, traders can monitor it by clicking on the "Orders" tab in the contract trading platform. The Orders tab will show traders a list of all their open orders, as well as the status of each order.

Step 7: Closing the Order

When a trader is ready to close an order, they can do so by clicking on the "Close" button in the order form. The Close button will close the order at the current market price.

Step 8: Withdrawing Funds

Once a trader has closed all their open orders, they can withdraw their funds from DigiFinex by clicking on the "Withdraw" tab in the main menu. The Withdraw tab will allow traders to withdraw their funds to a cryptocurrency wallet or bank account.