How to sell AscendEX contracts

Selling contracts on AscendEX is a straightforward process that involves selecting the contract, specifying order parameters, and confirming the order.

Nov 24, 2024 at 08:16 am

How to Sell AscendEX Contracts: A Comprehensive Guide

Selling contracts on AscendEX, a reputable cryptocurrency exchange, involves several straightforward steps. This guide provides a comprehensive walkthrough of the process, ensuring a seamless experience for beginners and experienced traders alike.

Prerequisites

Before initiating the selling process, ensure that you have met the following prerequisites:

• Create an AscendEX Account: If you haven't already, register for an AscendEX account by providing your necessary personal information.
• Fund Your Account (Optional): To sell contracts, you need sufficient funds in your AscendEX trading account. You can either deposit cryptocurrency or fiat currency into your account.
• Activate Futures Trading: Enable futures trading by completing the risk assessment and verification process within your AscendEX account settings.

Step-by-Step Guide to Selling AscendEX Contracts

Once the prerequisites are met, follow these steps to sell contracts on AscendEX:

1. Navigate to the Futures Trading Interface

• Log in to your AscendEX account and hover over the "Derivatives" tab.
• Choose "Futures" from the dropdown menu.
• You will be directed to the futures trading interface, where you can trade perpetual and delivery futures contracts.

2. Select the Contract and Order Type

• On the futures trading interface, select the contract you want to sell. Popular contracts include BTC/USDT, ETH/USDT, and BNB/USDT.
• Determine the order type you wish to place. AscendEX offers limit orders, market orders, and stop orders.
• Limit Order: Allows you to specify a price at which you want to sell the contract. The order will be executed only when the market price reaches or exceeds your specified price.
• Market Order: Executes your order immediately at the best available market price.
• Stop Order: Triggers a sell order when the market price reaches a predetermined trigger price.

3. Specify Order Parameters

• Enter the quantity of the contract you want to sell. The contract quantity represents the number of units of the underlying asset you wish to trade.
• For limit orders, specify the limit price at which you want to sell the contract.
• For stop orders, specify the trigger price and stop price. The trigger price determines when the order becomes active, and the stop price determines the execution price.

4. Review and Confirm the Order

• Carefully review the order details, including the contract, order type, quantity, and price.
• Ensure that all the information is accurate and соответствует вашим торговым намерениям.
• Click the "Sell" button to confirm the order.

5. Monitor Your Order

• After submitting the order, it will be displayed in the "Active Orders" section.
• You can monitor the status of your order in real-time and make any necessary adjustments.
• If the market price moves in your favor, your order will be executed, and the funds will be credited to your trading account.

Additional Tips for Selling AscendEX Contracts

• Manage Risk: Use stop-loss orders to limit your potential losses. Stop-loss orders automatically sell your contracts when the market price falls below a specified level.
• Set Realistic Targets: Don't set unrealistic profit targets. Remember that trading involves risk, and it's essential to have a clear understanding of your risk tolerance.
• Use Technical Analysis: Analyze market trends and indicators to make informed trading decisions. Use technical analysis tools such as charts, moving averages, and support and resistance levels to identify potential trading opportunities.
• Stay Updated: Keep up-to-date with market news and announcements. This information can help you stay informed about market conditions and make better trading decisions.
• Practice Risk Management: Develop a comprehensive risk management strategy to mitigate potential losses. This includes setting stop-loss levels, diversifying your portfolio, and managing your emotions.