How to play MEXC contracts tutorial

MEXC's user-friendly platform empowers traders with various contract options, including linear, inverse, perpetual, and quarterly contracts, providing a comprehensive trading experience.

Nov 07, 2024 at 03:30 pm

How to Play MEXC Contracts Tutorial

MEXC is a leading cryptocurrency exchange that offers a wide range of trading options, including futures contracts. Contracts trading can be a powerful way to increase your profits, but it is important to understand the risks involved before you get started.

This tutorial will guide you through the steps on how to play MEXC contracts. We will cover everything from choosing the right contract to placing an order and managing your risk.

1. Choose the Right Contract

The first step is to choose the right contract. MEXC offers a variety of contracts, including:

• Linear contracts: These are the most basic type of contract.
• Inverse contracts: These contracts are more advanced and can be used to bet on the value of the underlying asset going down.
• Perpetual contracts: These contracts never expire.
• Quarterly contracts: These contracts expire every three months.
• Leveraged Tokens: These tokens provide leveraged exposure to the underlying asset.

Each type of contract has its own advantages and disadvantages. It is important to do your research and choose the contract that is right for you.

2. Place an Order

Once you have chosen a contract, you can place an order. To place an order, you will need to specify the following:

• The order type: There are two main types of orders: market orders and limit orders.
• The order side: You can either buy or sell a contract.
• The order quantity: This is the number of contracts that you want to buy or sell.
• The order price: This is the price at which you want to buy or sell a contract.

3. Manage Your Risk

Contracts trading can be risky. It is important to manage your risk carefully. Here are a few tips:

• Use a stop-loss order: A stop-loss order will automatically sell your contract if the price falls below a certain level.
• Limit your leverage: Leverage can amplify your profits, but it can also amplify your losses. Be careful not to use too much leverage.
• Only trade with money that you can afford to lose: Contracts trading can be volatile. Never trade with more money than you can afford to lose.

4. Withdraw Your Profits

Once you have made a profit, you can withdraw your profits. To withdraw your profits, you will need to:

• Go to the "Withdraw" page: This page can be found in the "Account" section of the MEXC website.
• Select the cryptocurrency that you want to withdraw: You can withdraw your profits in BTC, ETH, or USDT.
• Enter the amount that you want to withdraw: Enter the amount of cryptocurrency that you want to withdraw.
• Click the "Withdraw" button:

Your profits will be sent to the cryptocurrency address that you specified.

5. Conclusion

Contracts trading can be a powerful way to increase your profits, but it is important to understand the risks involved before you get started. By following the steps in this tutorial, you can learn how to play MEXC contracts safely and profitably.