How to open 75 times Huobi contract

With Huobi's 75x leveraged contract, traders can amplify their potential profits, but should proceed cautiously, carefully monitoring their positions and managing risk to avoid exceeding their tolerance.

Nov 15, 2024 at 02:34 pm

How to Open a 75x Leveraged Contract on Huobi

Introduction:

Leveraged contracts, also known as futures contracts, allow traders to take on a higher level of risk in exchange for the potential to amplify their profits. Huobi, one of the world's leading cryptocurrency exchanges, offers a range of leveraged contracts with varying levels of leverage, including the popular 75x contract. This in-depth guide will provide a step-by-step walkthrough on how to open a 75x leveraged contract on Huobi, ensuring a comprehensive understanding of the process and potential risks involved.

Step 1: Create a Huobi Account

• Visit the Huobi website (https://www.huobi.com/) and click on the "Sign Up" button.
• Enter your email address and create a strong password.
• Complete the account verification process by providing your personal information and government-issued ID.

Step 2: Fund Your Account

• Once your account is verified, you need to fund it with the necessary capital to trade.
• Huobi supports a wide range of deposit methods, including bank transfers, credit/debit cards, and cryptocurrencies.
• Choose a suitable deposit method and follow the on-screen instructions to complete the transaction.

Step 3: Navigate to the Contracts Trading Interface

• Log in to your Huobi account and hover over the "Derivatives" tab on the top navigation bar.
• Select "Contracts" from the drop-down menu.
• The contracts trading interface will open, displaying a list of available contracts.

Step 4: Choose the 75x Contract

• On the contracts trading interface, locate the "Contracts List" section and scroll down to find the desired contract.
• In this case, we are looking for the 75x leveraged contract.
• Select the contract by clicking on its name or ticker symbol.

Step 5: Set Leverage and Order Parameters

• The 75x contract will open up in the trading panel.
• Adjust the "Leverage" slider to set the desired leverage (in this case, 75x).
• Enter the order type, quantity, and price at which you wish to open the contract.

Step 6: Review and Confirm

• Carefully review the order details, including the leverage, contract size, entry price, and potential profit/loss.
• Ensure that all the information is correct and meets your trading strategy.
• If satisfied, click on the "Buy/Long" or "Sell/Short" button to open the contract.

Step 7: Monitor and Manage the Contract

• Once the contract is open, it will be displayed in the "Positions" section of the trading interface.
• Monitor the contract's performance and adjust leverage or close the contract as needed.
• Keep track of risk and potential losses, and do not exceed your risk tolerance.