How to activate ProBit Global contract multiples

ProBit Global empowers traders to multiply their potential profits and manage risk through the seamless activation of contract multiples, requiring a verified account and adherence to proper risk management principles.

Dec 03, 2024 at 02:16 am

How to Activate ProBit Global Contract Multiples: A Comprehensive Guide

ProBit Global, a leading cryptocurrency exchange, offers advanced trading options like contract multiples, which allow traders to increase their potential profits while managing risk. Activating contract multiples on ProBit Global requires a few simple steps that are outlined in this guide.

Prerequisites:

• Create and verify a ProBit Global account.
• Fund your account with sufficient funds to initiate leveraged trading.

Step-by-Step Activation Process:

1. Access the Contract Trading Interface

• Navigate to the "Futures" section on the ProBit Global website or mobile app.
• Select the contract you wish to trade (e.g., BTC/USDT) and click on the "Trade" button.

2. Enable "Contract Multiples"

• On the contract trading page, locate the "Settings" or "Advanced Settings" tab.
• Enable the toggle switch labeled "Contract Multiples."

3. Specify the Multiplier Value

• Once contract multiples are activated, you will be prompted to enter a multiplier value.
• This value represents the factor by which your trade size will be multiplied, effectively increasing your potential profits and risk.
• The multiplier value can range from 1x (no leverage) to 100x or more, depending on the contract.

4. Adjust Risk Management Parameters

• Before placing leveraged trades, it is crucial to adjust your risk management parameters.
• This includes setting stop-loss orders to limit potential losses and adjusting your position size to manage risk based on your account balance.

5. Place a Contract Multiple Trade

• With contract multiples enabled and risk management parameters set, you can now place leveraged trades.
• Enter the desired contract size, leverage multiplier, and order type (e.g., market, limit, or stop-limit).
• Confirm the details and place your trade.

Cautions and Considerations:

• Leveraged trading amplifies potential profits but also increases risk exponentially.
• Traders should only use contract multiples with a clear understanding of the risks involved.
• Manage your risk effectively by setting appropriate stop-loss orders and adjusting your position size according to your account balance.
• Regularly monitor your trades and adjust positions as necessary based on market movements.