How to play perpetual contract at MEXC

Perpetual contracts on MEXC offer traders flexible speculation on asset prices without ownership, making them popular for long-term price speculation and hedging.

Nov 10, 2024 at 08:20 pm

How to Play Perpetual Contract at MEXC

Perpetual contracts, also known as perpetual futures, are a type of financial derivative that allows traders to speculate on the future price of an underlying asset without having to take ownership of the asset itself. Perpetual contracts are similar to traditional futures contracts, but they do not have an expiration date, which means that they can be held indefinitely.

This makes them a popular choice for traders who want to speculate on the long-term price of an asset without having to worry about the contract expiring. Perpetual contracts are also often used for hedging purposes, as they allow traders to lock in a price for an asset in the future.

If you are new to perpetual contracts, it is important to understand how they work before you start trading them. In this guide, we will walk you through the basics of perpetual contracts and show you how to trade them on MEXC.

1. Open an Account on MEXC

The first step to trading perpetual contracts on MEXC is to open an account. You can do this by visiting the MEXC website and clicking on the "Register" button. Once you have registered for an account, you will need to verify your email address and phone number.

2. Deposit Funds into Your Account

Once you have verified your account, you will need to deposit funds into it. You can do this by clicking on the "Deposit" button in the top right corner of the screen. MEXC supports a variety of deposit methods, including bank transfers, credit cards, and cryptocurrencies.

3. Choose a Perpetual Contract to Trade

Once you have deposited funds into your account, you can start choosing which perpetual contracts you want to trade. MEXC offers a wide range of perpetual contracts, including contracts for Bitcoin, Ethereum, and other popular cryptocurrencies.

To choose a perpetual contract to trade, click on the "Contracts" tab in the top menu bar. This will take you to a page where you can see a list of all of the perpetual contracts that are available on MEXC.

4. Place an Order

Once you have chosen a perpetual contract to trade, you can place an order. To do this, click on the "Trade" button next to the contract that you want to trade. This will open up the order form.

In the order form, you will need to specify the following information:

• The type of order you want to place (e.g., market order, limit order, stop order)
• The quantity of the contract that you want to buy or sell
• The price at which you want to buy or sell the contract

Once you have filled out the order form, click on the "Buy" or "Sell" button to place your order.

5. Manage Your Position

Once you have placed an order, you can manage your position by clicking on the "Positions" tab in the top menu bar. This will take you to a page where you can see a list of all of your open positions.

From the Positions page, you can do the following:

• Close your position
• Add to your position
• Set a stop loss or take profit order

6. Withdraw Your Profits

Once you have closed your position, you can withdraw your profits by clicking on the "Withdraw" button in the top right corner of the screen. MEXC supports a variety of withdrawal methods, including bank transfers, credit cards, and cryptocurrencies.

Tips for Trading Perpetual Contracts

Here are a few tips for trading perpetual contracts on MEXC:

• Do your research before you start trading. Make sure you understand how perpetual contracts work and the risks involved.
• Start with a small amount of money. This will help you to manage your risk and avoid losing more money than you can afford to lose.
• Use stop loss orders to protect your profits. A stop loss order will automatically close your position if the price of the asset moves against you.
• Take breaks from trading. It is important to take breaks from trading to clear your head and avoid making emotional decisions.