How to deliver BitFlyer contract

To trade contracts on BitFlyer, create an account, fund it, navigate to the contract platform, place an order, monitor your position, set stop-loss and take-profit orders, close your position, and withdraw your funds when done.

Nov 10, 2024 at 06:15 am

How to Deliver BitFlyer Contract

Step 1: Open a BitFlyer Account

To begin trading contracts on BitFlyer, you'll first need to create an account. Visit the BitFlyer website, click on "Sign Up" and fill out the registration form. Once your account is verified, you can fund it with the desired amount of funds using bank transfer or credit card.

Step 2: Navigate to the Contract Trading Platform

Once your account is funded, log in and navigate to the contract trading platform. Here, you'll see a list of available contract pairs and their current prices. Select the contract pair you wish to trade, such as BTC/USD or ETH/USD.

Step 3: Place a Limit Order

To place a limit order, specify the desired price and the quantity of the contract you wish to buy or sell. A limit order is executed only when the market price reaches the specified price. This type of order allows traders to set specific entry or exit points for their trades.

Step 4: Place a Market Order

A market order is executed immediately at the current market price. To place a market order, simply specify the quantity of the contract you wish to buy or sell. Market orders are filled quickly and ensure immediate execution, but they may result in a slightly less favorable price compared to limit orders.

Step 5: Monitor Your Contract Position

Once you've placed an order, you can monitor its status in the "Open Positions" section. Here, you'll see the current price of the contract, the quantity you hold, and the potential profit or loss. You can also manage your position by adding, reducing, or closing it.

Step 6: Set Stop-Loss and Take-Profit Orders

To manage your risk and protect your profits, consider placing stop-loss and take-profit orders. A stop-loss order automatically sells your contract if the price falls below a specified level, while a take-profit order automatically sells your contract if the price rises above a specified level. This helps you limit losses and secure profits.

Step 7: Close Your Contract Position

To close your contract position, simply click on the "Close Position" button. You can either close the entire position or partially close it by specifying the desired quantity. Closing your position will result in the settlement of the contract and the transfer of funds to your account.

Step 8: Withdraw Your Funds

Once you've closed all your contract positions, you can withdraw your funds from BitFlyer. Navigate to the "Withdraw Funds" section, select the desired withdrawal method (bank transfer or credit card), and enter the amount you wish to withdraw. Please note that withdrawal fees may apply.