Tutorial on CoinEx contract trading

Contract trading on CoinEx offers traders a leveraged form of speculation, allowing them to profit or incur losses based on the price movements of underlying assets without actual ownership or delivery.

Dec 01, 2024 at 07:22 pm

A Comprehensive Guide to Contract Trading on CoinEx

Contract trading is a form of financial trading that allows traders to speculate on the price movements of an underlying asset without having to actually own or deliver the underlying asset itself. This makes it a highly leveraged form of trading, which can result in both significant profits and losses.

To start contract trading on CoinEx, you will need to:

1. Create an account on CoinEx.
2. Fund your account with the currency you wish to trade.
3. Choose the contract you wish to trade.
4. Place an order.
5. Manage your risk.

Step 1: Create an Account on CoinEx

To create an account on CoinEx, visit the CoinEx website and click on the "Sign Up" button. You will be prompted to provide your email address and create a password. Once you have entered this information, click on the "Sign Up" button to create your account.

Step 2: Fund Your Account

Once you have created an account, you will need to fund it with the currency you wish to trade. To do this, click on the "Deposit" button in the top right-hand corner of the screen. You will then be presented with a list of the currencies that you can deposit. Select the currency you wish to deposit and follow the instructions on the screen.

Step 3: Choose the Contract You Wish to Trade

Once you have funded your account, you will need to choose the contract you wish to trade. CoinEx offers a wide range of contracts, including futures, options, and perpetual swaps. Each type of contract has its own unique risks and rewards, so it is important to do your research before choosing a contract to trade.

Step 4: Place an Order

Once you have chosen a contract to trade, you will need to place an order. An order is simply a request to buy or sell a certain number of contracts at a certain price. To place an order, click on the "Trade" button in the top right-hand corner of the screen. You will then be presented with an order form. Enter the following information in the order form:

• The type of order you wish to place (buy or sell).
• The number of contracts you wish to trade.
• The price at which you wish to trade.
• The leverage you wish to use.

Step 5: Manage Your Risk

Contract trading is a leveraged form of trading, which means that it can result in both significant profits and losses. It is important to manage your risk before entering a trade. Some strategies for managing your risk include:

• Using a stop-loss order.
• Using a take-profit order.
• Reducing your leverage.
• Diversifying your portfolio.