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How to play CoinEx contract
To initiate contract trading on CoinEx, create an account, fund it, navigate to the "Contract" tab, select the desired contract, specify the order type, adjust leverage, monitor open positions, and manage risk with take-profit and stop-loss orders.
Dec 02, 2024 at 08:26 pm

How to Play CoinEx Contract: A Step-by-Step Guide
Step 1: Getting to Know the CoinEx Contract Trading Concept
What is contract trading?
Contract trading involves speculating on the price movements of an underlying asset, such as a cryptocurrency, without actually purchasing the asset. Instead, traders use contracts that track the value of the asset.
How does contract trading work on CoinEx?
On CoinEx, contract trading is facilitated through perpetual contracts. Perpetual contracts are contracts that have no set expiry date, allowing traders to maintain their positions for an indefinite period.
What is leverage?
Leverage is a tool that allows traders to increase their potential profits by borrowing funds from the platform. However, it also magnifies the potential losses, as traders can lose more than they initially invested.
Step 2: Opening a CoinEx Contract Trading Account
Creating a CoinEx account
Begin by creating a CoinEx account. This involves completing the registration process and verifying your identity.
Funding your account
To start contract trading, you need to fund your account with either cryptocurrencies or fiat currencies. CoinEx supports various deposit methods, including direct crypto deposits, fiat on-ramps, and third-party payment providers.
Step 3: Navigating the CoinEx Contract Trading Platform
Finding the contract trading tab
Once your account is funded, navigate to the "Contract" tab on the CoinEx website or mobile application.
Understanding the contract trading interface
The CoinEx contract trading interface displays various charts, order books, and trading tools. Familiarize yourself with the layout and functions of each component.
Step 4: Selecting the Right Contract
Choosing the underlying asset
CoinEx offers contracts for various cryptocurrencies. Select the contract that corresponds with the cryptocurrency you want to trade.
Understanding contract specifications
Each contract has its specifications, including tick size, leverage ratio, and funding rate. Review these specifications carefully to ensure you understand the trading conditions.
Step 5: Placing Orders and Managing Risk
Opening a position
To place an order, select the contract, specify the order type (Market, Limit, or Stop), enter the order size, and adjust the leverage as desired. Once the order parameters are set, confirm the order to enter the market.
Take-profit orders
A take-profit order allows you to close your position at a predetermined price target, locking in profits.
Stop-loss orders
A stop-loss order automatically closes your position when the price reaches a predetermined level, protecting you from excessive losses.
Step 6: Monitoring and Closing Positions
Tracking open positions
The CoinEx trading platform provides a section where you can monitor your open positions, including their current profit/loss, liquidation price, and other relevant metrics.
Closing positions manually
To close a position, navigate to the open positions section and click on the "Close" button for the desired position.
Step 7: Understanding Fees and Funding Rates
Trading fees
CoinEx charges trading fees for each contract traded. The fees vary based on the contract and the volume traded.
Funding rates
Perpetual contracts have funding rates that are paid by traders who hold long positions to traders who hold short positions or vice versa. The funding rate is designed to keep the contract price in line with the spot price.
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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