How to open high multiple contracts on CoinEx

Before you start trading high multiple contracts, consider potential risks, ensure a viable trading strategy, and begin with a minimal trading sum to acquire market knowledge and risk management skills.

Dec 03, 2024 at 01:50 pm

How to Open High Multiple Contracts on CoinEx

High multiple contracts, also known as leveraged contracts, are a type of derivative instrument that allow traders to increase their potential profits by using leverage. This can be a great way to magnify gains, but it also comes with increased risk. If the market moves against you, you could lose more money than you initially invested.

Before you start trading high multiple contracts, it's important to understand the risks involved. You should also make sure that you have a sound trading strategy in place.

If you're new to high multiple contracts, it's a good idea to start with a small amount of money. This will help you to get a feel for the market and learn how to manage your risk.

Once you're comfortable with trading high multiple contracts, you can start to increase the amount of money that you trade with. However, it's important to remember that the higher the leverage you use, the greater the risk.

Here are the steps on how to open high multiple contracts on CoinEx:

1. Create a CoinEx account. If you don't already have a CoinEx account, you can create one by visiting the CoinEx website.
2. Deposit funds into your CoinEx account. You can deposit funds into your CoinEx account by wire transfer, credit card, or debit card.
3. Navigate to the high multiple contracts trading page. Once you're logged into your CoinEx account, you can navigate to the high multiple contracts trading page by clicking on the "Derivatives" tab and then selecting "High Multiple Contracts."
4. Choose a trading pair. The first step is to choose a trading pair. CoinEx offers a variety of trading pairs, including BTC/USDT, ETH/USDT, and XRP/USDT.
5. Select the leverage you want to use. The next step is to select the leverage you want to use. CoinEx offers leverage of up to 100x.
6. Enter the amount of money you want to trade with. The next step is to enter the amount of money you want to trade with.
7. Click the "Buy" or "Sell" button. Once you're happy with your order, click the "Buy" or "Sell" button.

Your order will be executed immediately. You can track the progress of your order by clicking on the "Orders" tab.

Tips for Trading High Multiple Contracts

Here are a few tips for trading high multiple contracts:

• Use stop-loss orders. Stop-loss orders are a great way to protect your profits and limit your losses. A stop-loss order will automatically sell your position if the market price falls below a certain level.
• Don't overtrade. One of the biggest mistakes that traders make is overtrading. Overtrading can lead to losses, so it's important to stick to your trading plan and only trade with money that you can afford to lose.
• Manage your risk. Risk management is one of the most important aspects of trading high multiple contracts. You should always make sure that you're managing your risk properly. This means using stop-loss orders, not overtrading, and only trading with money that you can afford to lose.