AscendEX Contract Guide

AscendEX's contract trading platform empowers traders with access to a comprehensive suite of tools, including advanced order types, flexible leverage options, and risk management features, enabling them to navigate the complexities of perpetual contract trading with precision and efficiency.

Nov 29, 2024 at 05:41 pm

AscendEX Contract Guide

Introduction

AscendEX is a leading global cryptocurrency exchange offering a comprehensive suite of trading services, including spot, margin, and perpetual contracts trading. Its contract trading platform provides traders with access to a wide range of crypto assets with high leverage and low trading fees. This guide will delve into the intricacies of AscendEX's contract trading platform, providing step-by-step instructions and comprehensive explanations for successful contract trading.

Getting Started

1. Create an AscendEX Account:

To begin contract trading on AscendEX, you must first create an account. Visit the AscendEX website, click on "Sign Up," and follow the instructions to set up your account. Remember to complete the KYC verification process to unlock the full range of trading features.

2. Fund Your Account:

Once your account is created, you need to fund it to commence trading. AscendEX supports a wide range of deposit methods, including cryptocurrencies, credit/debit cards, and wire transfers. Navigate to the "Assets" tab, select "Deposit," and follow the prompts to deposit funds into your AscendEX account.

3. Understand Contract Trading Basics:

Contract trading involves trading perpetual contracts, which are financial instruments that track the price of an underlying cryptocurrency asset. Unlike spot trading, contract trading allows traders to use leverage, which magnifies both potential profits and losses. It's crucial to comprehend the concept of margin, leverage, liquidation, and the risks associated with contract trading before you engage in it.

Trading Contracts on AscendEX

1. Access Contract Trading Platform:

To start contract trading, navigate to the "Contracts" tab on the AscendEX website. You will be presented with a comprehensive trading interface that includes an order book, chart, and various trading tools.

2. Choose a Trading Pair and Leverage:

Select the desired trading pair from the left-hand panel. AscendEX offers a wide range of cryptocurrency pairs, each with varying leverage options. Choose the leverage level that aligns with your risk tolerance and trading strategy. Higher leverage amplifies both potential profits and losses, so trade responsibly.

3. Place an Order:

AscendEX supports various order types to accommodate different trading strategies. You can place a limit order, market order, or stop order. Specify the order type, quantity, and price (for limit orders) on the order form. Review the order details carefully before submitting it.

4. Manage Your Position:

Once your order is executed, you will have an open position in the market. Monitor your position by observing the "Positions" tab. You can adjust your position by placing additional orders to increase or decrease your position size, or by using stop-loss or take-profit orders to manage risk.

5. Close Your Position:

To close your position and realize your profit or loss, place an opposite order of the same size as your open position. For example, if you have a long position, place a short order of the same quantity. Once the opposite order is executed, your position will be closed.

Advanced Features

1. Traders Hub:

The Traders Hub on AscendEX is a valuable resource for traders of all levels. It offers educational materials, trade analysis, and insights from experienced traders. Utilize the Traders Hub to enhance your trading knowledge and gain a competitive edge.

2. Demo Account:

Before risking real capital, consider using AscendEX's demo account to practice contract trading and test different strategies. The demo account simulates real-time market conditions, allowing you to gain hands-on experience without financial risks.

3. Copy Trading:

AscendEX offers a copy trading feature that enables you to automatically copy the trades of experienced and successful traders. Navigate to the "Copy Trading" section, select a trader to follow, and allocate a portion of your funds to copy their trades proportionately.