How to play Huobi perpetual contract

Huobi's perpetual contract trading platform offers a diverse selection of contracts, allowing traders to capitalize on price fluctuations of cryptocurrencies like Bitcoin and Ethereum.

Nov 11, 2024 at 02:08 pm

How to Play Huobi Perpetual Contract? A Step-by-Step Guide

1. Introduction

Perpetual contracts, also known as futures contracts without expiry dates, are a popular way to trade cryptocurrencies. They allow traders to speculate on the future price of an asset and potentially profit from price fluctuations. Huobi is one of the world's leading cryptocurrency exchanges, and it offers a perpetual contract trading platform with a wide range of features and benefits.

2. Opening an Account

To start trading Huobi perpetual contracts, you need to first open an account with the exchange. The process is simple and straightforward:

• Go to the Huobi website (https://www.huobi.com/) and click on "Sign Up".
• Enter your email address, create a password, and agree to the terms of service.
• You will then receive a verification email. Click on the link in the email to complete the registration process.

3. Funding Your Account

Once you have opened an account, you need to fund it with cryptocurrencies. Huobi supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, USDT, and BNB.

• To deposit cryptocurrencies, go to the "Assets" page in your Huobi account.
• Click on "Deposit" and select the cryptocurrency you want to deposit.
• Follow the instructions on the screen to complete the deposit process.

4. Finding the Right Perpetual Contract

Huobi offers a wide range of perpetual contracts, each based on a different underlying asset. The most popular perpetual contracts are based on Bitcoin, Ethereum, and USDT.

• To find the right perpetual contract, go to the "Contracts" page in your Huobi account.
• Select the "Perpetual" tab and choose the underlying asset you want to trade.
• You will then see a list of all the perpetual contracts available for that asset.

5. Placing an Order

To place an order, you need to select the perpetual contract you want to trade and specify the order type, quantity, and price.

• The order type can be either "Market" or "Limit". A market order will be executed immediately at the current market price, while a limit order will only be executed when the price reaches a specified level.
• The quantity is the number of contracts you want to buy or sell.
• The price is the price at which you want to buy or sell the contracts.

6. Managing Your Position

Once you have placed an order, you can manage your position by monitoring the market price and making adjustments as needed.

• You can use the "Positions" page in your Huobi account to view your current positions.
• You can use the "Stop Loss" and "Take Profit" orders to protect your profits or minimize losses.
• You can also close your position by placing an opposite order.

7. Withdrawing Your Funds

When you are finished trading, you can withdraw your funds from your Huobi account.

• To withdraw funds, go to the "Assets" page in your Huobi account.
• Click on "Withdraw" and select the cryptocurrency you want to withdraw.
• Follow the instructions on the screen to complete the withdrawal process.