I want to place an order on Ouyi Contract, what is the specific procedure?

Key Points:

• Opening an Account
• Funding the Account
• Placing an Order
• Selecting Trading Types
• Setting Parameters
• Managing Risk
• Monitoring Performance

Step-by-Step Guide to Placing an Order on Ouyi Contract1. Opening an Account

• Visit the Ouyi website and click on "Register."
• Enter your email address, create a password, and read and accept the Terms of Service.
• Verify your email and mobile phone number.

2. Funding the Account

• Log in to your Ouyi account.
• Click on "Deposit" in the top navigation bar.
• Select a deposit method (e.g., bank transfer, credit/debit card, cryptocurrency).
• Follow the on-screen instructions to complete the deposit process.

3. Placing an Order

• From the Ouyi homepage, select "Contracts" in the top navigation bar.
• Choose a trading pair (e.g., BTC/USDT).
• Click on the "Order" tab.

4. Selecting Trading Types

• Limit Order: Set a specific price at which you want to buy or sell. The order will execute when the market price reaches the limit price.
• Market Order: Execute the order at the current market price.
• Conditional Order: Set trigger conditions for your order to execute (e.g., "stop-loss" or "take-profit").

5. Setting Parameters

• Quantity: Enter the number of contracts you want to trade.
• Price: For limit orders, specify the price at which you want to trade.
• Leverage: Set the leverage for your order (e.g., 5x, 10x).

6. Managing Risk

• Stop-loss Order: Set a limit order to automatically sell your contract if the market moves against you.
• Take-profit Order: Set a limit order to automatically sell your contract if the market moves in your favor.
• Margin Call: If your account equity drops below a certain level, you will receive a margin call and may be forced to close your positions.

7. Monitoring Performance

• Track the status of your orders in the "Open Orders" tab.
• Monitor the profitability of your closed orders in the "Order History" tab.
• Use technical analysis tools to identify trading opportunities and manage risk.

FAQs

• Can I trade futures contracts on Ouyi Contract without having experience?

Ouyi Contract provides educational resources and tools to help beginners get started with futures trading. However, it is essential to understand the risks involved before placing any trades.

• What is the difference between a limit order and a market order?

A limit order allows you to specify the price at which you want to execute your trade. A market order executes immediately at the current market price.

• How can I reduce the risk of trading futures contracts?

Use stop-loss orders, set appropriate leverage, and understand the market conditions before placing any trades.

• What is the commission fee for trading futures contracts on Ouyi Contract?

Ouyi Contract charges a maker fee of 0.02% and a taker fee of 0.04%.

• Can I lose more money than I deposit into my Ouyi Contract account?

Yes, it is possible to lose more money than you deposit if you use leverage. Leverage magnifies potential profits but also increases the risk of losses.