BitFlyer perpetual contract stop profit and stop loss tutorial

BitFlyer Perpetual Contract Stop Profit and Stop Loss Tutorial

Perpetual contracts are a type of derivative that allows traders to speculate on the future price of an asset without having to take delivery of the underlying asset. They are similar to futures contracts, but they do not have a fixed expiration date and can be held indefinitely.

Stop-loss and stop-profit orders are two types of conditional orders that can be used to manage risk when trading perpetual contracts. A stop-loss order is an order to sell an asset if the price falls below a certain level, while a stop-profit order is an order to sell an asset if the price rises above a certain level.

In this tutorial, we will show you how to place a stop-loss and stop-profit order on a BitFlyer perpetual contract.

Place A Stop-Loss Order

To place a stop-loss order on a BitFlyer perpetual contract, follow these steps:

• Log in to your BitFlyer account and click on the "Trade" tab.
• Select the perpetual contract you want to trade and click on the "Order" button.
• In the "Order Type" dropdown menu, select "Stop-Loss".
• Enter the price at which you want to sell the asset in the "Price" field.
• Enter the amount of the asset you want to sell in the "Quantity" field.
• Click on the "Place Order" button.

Your stop-loss order will be placed and will execute automatically if the price of the asset falls below the specified price.

Place A Stop-Profit Order

To place a stop-profit order on a BitFlyer perpetual contract, follow these steps:

• Log in to your BitFlyer account and click on the "Trade" tab.
• Select the perpetual contract you want to trade and click on the "Order" button.
• In the "Order Type" dropdown menu, select "Stop-Profit".
• Enter the price at which you want to sell the asset in the "Price" field.
• Enter the amount of the asset you want to sell in the "Quantity" field.
• Click on the "Place Order" button.

Your stop-profit order will be placed and will execute automatically if the price of the asset rises above the specified price.