How to play the AscendEX contract

To trade on the AscendEX platform, users should create an account, fund it, select a futures contract, place an order, monitor it, and close it when they are ready to exit the position.

Dec 05, 2024 at 01:30 pm

How to Play the AscendEX Contract

AscendEX is a cryptocurrency exchange that offers a variety of trading options, including spot trading, margin trading, and futures trading. Futures trading is a type of derivative trading that allows traders to speculate on the future price of an asset.

To play the AscendEX contract, you will need to create an account on the exchange and deposit funds into your account. Once you have done this, you can start trading futures contracts.

Here are the steps on how to play the AscendEX contract:

1. Create an account on AscendEX.

To create an account on AscendEX, you will need to provide your email address, create a username and password, and agree to the terms of service. Once you have created an account, you will need to verify your email address.

2. Deposit funds into your account.

To deposit funds into your AscendEX account, you can use a variety of methods, including bank wire, credit card, debit card, and cryptocurrency.

3. Choose a futures contract to trade.

AscendEX offers a variety of futures contracts to trade, including BTC/USDT, ETH/USDT, and BNB/USDT. You can choose the contract that you want to trade based on your market analysis.

4. Place an order.

To place an order, you will need to specify the type of order you want to place, the price you want to buy or sell at, and the amount of the contract you want to trade.

5. Monitor your order.

Once you have placed an order, you can monitor it in the "Orders" tab of your account. You can see the status of your order, the price at which it was executed, and the amount of the contract that you have traded.

6. Close your order.

When you are ready to close your order, you can do so by clicking on the "Close" button in the "Orders" tab of your account. You can also close your order by placing an opposite order to the one you originally placed.

Here are some tips for playing the AscendEX contract:

• Do your research. Before you start trading futures contracts, it is important to do your research and understand the risks involved.
• Start with a small amount of money. When you are first starting out, it is a good idea to start with a small amount of money so that you can learn how to trade without risking too much capital.
• Use stop-loss orders. Stop-loss orders can help you to protect your profits and limit your losses.
• Don't trade with money that you can't afford to lose. Futures trading is a risky business, and it is important to only trade with money that you can afford to lose.