Poloniex contract operation process

Poloniex's futures trading platform facilitates the speculation on future asset prices, requiring traders to open a futures account, deposit funds, select contracts, place orders, manage positions, and close accounts upon completion.

Nov 26, 2024 at 02:44 pm

Poloniex Contract Operation Process

Poloniex is a cryptocurrency exchange that offers a variety of trading options, including spot trading, margin trading, and futures trading. Futures trading is a type of derivative contract that allows traders to speculate on the future price of an asset.

To trade futures contracts on Poloniex, you will need to first open a futures account. Once you have opened a futures account, you can deposit funds into your account and start trading.

The Poloniex contract operation process is as follows:

1. Opening a Futures Account

To open a futures account on Poloniex, you will need to:

• Log in to your Poloniex account.
• Click on the "Futures" tab.
• Click on the "Open Futures Account" button.
• Enter the required information and click on the "Submit" button.

Once you have opened a futures account, you will be able to deposit funds into your account and start trading.

2. Depositing Funds into Your Futures Account

To deposit funds into your futures account, you will need to:

• Log in to your Poloniex account.
• Click on the "Futures" tab.
• Click on the "Deposit" button.
• Select the currency that you want to deposit.
• Enter the amount that you want to deposit.
• Click on the "Submit" button.

Your funds will be deposited into your futures account within a few minutes.

3. Trading Futures Contracts

To trade futures contracts on Poloniex, you will need to:

• Log in to your Poloniex account.
• Click on the "Futures" tab.
• Select the futures contract that you want to trade.
• Enter the number of contracts that you want to buy or sell.
• Click on the "Buy" or "Sell" button.

Your order will be placed on the Poloniex order book. Once your order is filled, you will be able to view your open positions in the "Positions" tab.

4. Managing Your Open Positions

Once you have open positions, you will need to manage them carefully. You can do this by:

• Monitoring the market price of the underlying asset.
• Adjusting your stop-loss and take-profit orders.
• Closing your positions when you are ready to take profits or cut losses.

5. Closing Your Futures Account

When you are finished trading futures contracts, you can close your futures account. To do this, you will need to:

• Log in to your Poloniex account.
• Click on the "Futures" tab.
• Click on the "Close Futures Account" button.
• Enter the required information and click on the "Submit" button.

Your futures account will be closed within a few minutes.