ProBit Global Contract Tutorial

ProBit Global empowers traders with contract trading options, including defining trading pairs, placing orders, and implementing risk management strategies like stop-loss and position-sizing.

Nov 23, 2024 at 08:22 pm

ProBit Global Contract Tutorial

Introduction

ProBit Global is a cryptocurrency exchange that offers a wide range of trading options, including spot, margin, and contract trading. Contract trading, also known as futures trading, allows traders to speculate on the future price of an asset without actually owning it. This can be a lucrative way to trade, but it also comes with some risks.

This tutorial will guide you through the process of contract trading on ProBit Global. We will cover everything from opening an account to placing your first trade.

Step 1: Open an Account

The first step is to open an account on ProBit Global. You can do this by visiting the website and clicking on the "Sign Up" button. You will need to provide your email address, create a password, and agree to the terms of service.

Once you have created an account, you will need to verify your email address. To do this, click on the link in the email that ProBit Global sends you.

Step 2: Fund Your Account

Once your account is verified, you will need to fund it with cryptocurrency. You can do this by clicking on the "Deposit" button and selecting the cryptocurrency that you want to deposit. ProBit Global supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, and USDT.

Once you have selected the cryptocurrency that you want to deposit, you will need to provide the address of your wallet. ProBit Global will then send the cryptocurrency to your wallet.

Step 3: Choose a Trading Pair

The next step is to choose a trading pair. A trading pair is two cryptocurrencies that are traded against each other. For example, the BTC/USDT trading pair is Bitcoin traded against USDT.

ProBit Global offers a wide range of trading pairs, including BTC/USDT, ETH/USDT, and XRP/USDT. You can choose the trading pair that you want to trade by clicking on the "Markets" tab and selecting the pair that you want to trade.

Step 4: Place an Order

Once you have chosen a trading pair, you can place an order. There are two types of orders that you can place:

• Limit orders allow you to set a specific price at which you want to buy or sell an asset.
• Market orders allow you to buy or sell an asset at the current market price.

To place an order, click on the "Order" tab and select the type of order that you want to place. Then, enter the amount of the asset that you want to buy or sell and the price at which you want to buy or sell it.

Step 5: Manage Your Risk

Contract trading can be a lucrative way to trade, but it also comes with some risks. It is important to manage your risk by using stop-loss orders and position-sizing.

A stop-loss order is an order that you can place to automatically sell an asset if it falls below a certain price. This can help you to limit your losses in the event of a sudden price drop.

Position-sizing is the process of determining how much of your account balance to risk on a single trade. It is important to position-size so that you do not risk more than you can afford to lose.

Conclusion

Contract trading can be a lucrative way to trade, but it also comes with some risks. It is important to understand the risks involved and to manage your risk accordingly. By following the steps in this tutorial, you can learn how to trade contracts on ProBit Global and potentially profit from the cryptocurrency market.