How to play the ProBit Global perpetual contract

To play a perpetual contract on ProBit Global, traders must open an account, fund it, select a contract, place an order, monitor their position, and close it when desired, keeping in mind the leveraged and volatile nature of these financial instruments.

Nov 27, 2024 at 03:24 am

How to Play the ProBit Global Perpetual Contract

Perpetual contracts, also known as perpetual futures, are a type of financial instrument that allow traders to speculate on the future price of an asset without having to take delivery of the underlying asset. Perpetual contracts are similar to traditional futures contracts, but they do not have an expiry date, which means that they can be held indefinitely. This makes them ideal for traders who want to take long-term positions on an asset.

ProBit Global is a cryptocurrency exchange that offers a variety of perpetual contracts. To play a perpetual contract on ProBit Global, you will need to:

1. Create an account on ProBit Global. You can create an account by visiting the ProBit Global website and clicking on the "Sign Up" button. You will need to provide your email address, a username, and a password.
2. Fund your account. Once you have created an account, you will need to fund it with cryptocurrency. You can do this by depositing cryptocurrency from another exchange or by purchasing cryptocurrency with a credit card.
3. Choose a perpetual contract. ProBit Global offers a variety of perpetual contracts, including contracts for Bitcoin, Ethereum, Litecoin, and XRP. You can choose a contract by clicking on the "Contracts" tab on the ProBit Global website.
4. Place an order. Once you have chosen a contract, you will need to place an order. You can do this by clicking on the "Buy" or "Sell" button on the contract page. You will need to specify the quantity of the contract that you want to buy or sell, as well as the price at which you want to buy or sell.
5. Monitor your position. Once you have placed an order, you will need to monitor your position. You can do this by clicking on the "Positions" tab on the ProBit Global website. You will be able to see the current price of the contract, as well as your profit or loss.
6. Close your position. When you are ready to close your position, you will need to place a closing order. You can do this by clicking on the "Close" button on the contract page. You will need to specify the quantity of the contract that you want to close, as well as the price at which you want to close.

Here are some things to keep in mind when playing perpetual contracts on ProBit Global:

• Perpetual contracts are a leveraged product. This means that you can lose more money than you invest.
• Perpetual contracts are a volatile product. The price of an asset can fluctuate rapidly, which can lead to large profits or losses.
• It is important to have a trading strategy. This will help you to manage your risk and to make informed trading decisions.
• It is important to stay up-to-date on the latest market news. This will help you to make informed trading decisions.