KuCoin contract trading steps

KuCoin offers a comprehensive contract trading feature for beginners, allowing users to create an account, fund it securely, choose a trading pair, place orders, manage positions, and close them for successful cryptocurrency trading.

Nov 15, 2024 at 09:39 pm

KuCoin Contract Trading Steps: A Comprehensive Guide for Beginners

1. Creating a KuCoin Account

• Navigate to the KuCoin website and click on "Sign Up."
• Enter your email address, create a password, and agree to the Terms of Service.
• You will receive a confirmation email. Click on the link in the email to activate your account.
• Once your account is activated, you can log in using your email address and password.

2. Funding Your KuCoin Account

• Log in to your KuCoin account and click on "Deposit."
• Select the cryptocurrency you want to deposit and copy the deposit address.
• Send the cryptocurrency from your external wallet or exchange to the KuCoin deposit address.
• The funds will be credited to your KuCoin account within a few minutes.

3. Enabling Contract Trading

• Click on "Trade" in the top menu bar and select "Contract."
• Click on "Enable Contract Trading" and follow the instructions to complete the process.
• Once contract trading is enabled, you will be able to access the contract trading interface.

4. Choosing a Trading Pair

• The KuCoin contract trading interface has a wide range of trading pairs to choose from.
• Each trading pair represents a different cryptocurrency that is being traded against another cryptocurrency.
• For example, the BTC/USDT trading pair represents Bitcoin being traded against Tether.
• Select the trading pair you want to trade by clicking on it.

5. Placing an Order

• There are two main types of orders in contract trading: limit orders and market orders.
• Limit orders allow you to set a specific price at which you want to buy or sell a contract.
• Market orders allow you to buy or sell a contract at the current market price.
• To place an order, enter the number of contracts you want to buy or sell and select the order type.
• Set the price for limit orders or leave it blank for market orders.
• Click on "Buy/Long" or "Sell/Short" to place the order.

6. Managing Your Positions

• Once you have placed an order, it will be added to your "Positions" tab.
• This tab shows all of your open positions, including the entry price, the current price, and the profit/loss.
• You can manage your positions by clicking on the "Edit" button.
• This allows you to adjust the order parameters, such as the stop loss or take profit levels.

7. Closing Your Positions

• To close a position, click on the "Close" button in the "Positions" tab.
• You can choose to close the position at the current market price or set a specific closing price.
• Once you have confirmed the closing price, the position will be closed and the funds will be credited to your KuCoin account.