Tutorial on AscendEX contract trading

Tutorial on AscendEX Contract Trading: A Comprehensive Guide

Welcome to the ultimate tutorial on contract trading with AscendEX, the esteemed cryptocurrency exchange. If you're eager to delve into the realm of derivatives trading, this guide will equip you with the knowledge and skills to navigate the AscendEX platform seamlessly. We'll embark on a comprehensive journey, covering every essential aspect, from account setup to executing trades and managing risk.

Step 1: Creating an AscendEX Account

• Visit the official AscendEX website and click on "Register."
• Provide your email address, create a strong password, and accept the Terms of Service.
• Verify your email address by entering the code sent to your inbox.

Step 2: Understanding Contracts and Types

Contracts are financial instruments that derive their value from an underlying asset. AscendEX offers perpetual contracts, which are derivatives that track the price of the underlying cryptocurrency without an expiry date.

Step 3: Funding Your Account

• Log into your AscendEX account and click on "Deposit."
• Choose a deposit method and follow the instructions provided.
• AscendEX supports a wide range of cryptocurrencies and fiat currencies.

Step 4: Choosing the Right Contract

• Navigate to the "Contracts" page and select the cryptocurrency pair you wish to trade.
• Consider factors such as liquidity, trading volume, and volatility when selecting a contract.

Step 5: Understanding Leverage

Leverage is a double-edged sword that allows traders to amplify their profits but also magnifies their losses. AscendEX offers adjustable leverage, enabling you to customize your risk exposure.

Step 6: Placing Orders

• Identify the order type that aligns with your trading strategy.
• Specify the entry price, quantity, and leverage for your order.
• Review your order details carefully before executing it.

Step 7: Monitoring Your Position

• AscendEX provides real-time updates on the status of your open positions.
• Monitor your position's profit/loss (P/L), margin level, and liquidation price.

Step 8: Managing Risk

• Implement appropriate risk management strategies, such as stop-loss orders and position sizing.
• AscendEX offers automated liquidation to mitigate losses when your margin level falls below a critical threshold.

Step 9: Withdrawing Funds

• Navigate to the "Withdraw" page and select the cryptocurrency you wish to withdraw.
• Enter the withdrawal address and amount, then follow the withdrawal process.