How to open a contract cooling-off period in Deepcoin

How to Open a Contract Cooling-Off Period in DeepcoinIntroduction

When entering into a futures contract, traders often face the dilemma of experiencing unexpected market fluctuations that may lead to significant losses. To mitigate this risk, Deepcoin offers a contract cooling-off period, providing traders with a buffer to carefully assess their positions and make informed decisions. This comprehensive guide will thoroughly explain the step-by-step process of opening a contract cooling-off period in Deepcoin.

Step 1: Prerequisites for Opening a Contract Cooling-Off Period

Before initiating a contract cooling-off period, traders must ensure they meet the following prerequisites:

• Valid Contract: Only active, non-settled contracts are eligible for a cooling-off period.
• Acceptable Margin Level: The trader's account margin level must be within the permissible range.
• Sufficient Time Remaining: The cooling-off period must be initiated before the contract's expiration time.

Step 2: Navigating to the Contract Management Page

To access the contract management page, follow these steps:

• Log in to your Deepcoin account.
• Select the "Contracts" tab from the top menu bar.
• Click on the "Active Contracts" sub-tab.

Step 3: Identifying the Target Contract

On the contract management page, identify the contract for which you wish to open a cooling-off period. Select the contract by clicking on its corresponding row.

Step 4: Initiating the Contract Cooling-Off Period

Once the target contract is identified, follow these steps to initiate the cooling-off period:

• Click on the "Actions" button located on the right-hand side of the contract row.
• Select the "Open Cooling-Off Period" option from the drop-down menu.
• Confirm your decision by clicking on the "Open" button.

Step 5: Duration and Parameters of the Cooling-Off Period

Upon successfully initiating the cooling-off period, the contract will enter a frozen state for a predetermined period, typically 24 hours. During this interval:

• No further trading or liquidation activities can occur.
• The contract remains open and exposed to market price fluctuations.
• If the market moves in a favorable direction, the trader may opt to close the contract within the cooling-off period.

Step 6: Closing the Contract Within the Cooling-Off Period

If the market conditions improve during the cooling-off period, the trader can manually close the contract by following these steps:

• Navigate to the contract management page as described in Step 2.
• Locate the contract in the "Contracts on Cooling-Off" sub-tab.
• Click on the "Actions" button and select "Close Contract."
• Confirm your decision by clicking on the "Close" button.

Step 7: Consequences of Exceeding the Cooling-Off Period

If the trader fails to close the contract within the designated cooling-off period:

• The contract will automatically expire and be settled.
• The trader will face the consequences of their initial trading decisions.
• Additional losses or gains will be realized based on the contract's settlement price.