How to trade contracts in MEXC

How to Trade Contracts in MEXC

MEXC is a leading cryptocurrency exchange that offers a wide range of trading options, including spot trading, margin trading, and contract trading. Contract trading is a type of derivative trading that allows traders to speculate on the future price of an asset without actually owning the underlying asset. This can be a risky but potentially profitable way to trade cryptocurrencies.

If you're new to contract trading, it's important to understand the basics before you get started. In this guide, we'll walk you through the steps on how to trade contracts in MEXC.

How to Create a Contract Trading Account

1. Create a MEXC account: If you don't already have a MEXC account, you'll need to create one before you can start trading contracts. You can do this by visiting the MEXC website and clicking on the "Sign Up" button.
2. Verify your identity: Once you've created an account, you'll need to verify your identity before you can start trading contracts. This is a regulatory requirement that helps to prevent fraud and money laundering. To verify your identity, you'll need to provide MEXC with your government-issued ID and a proof of address.
3. Fund your account: Once your identity has been verified, you'll need to fund your account before you can start trading contracts. You can do this by depositing cryptocurrency into your MEXC wallet.

How to Find Contracts in MEXC

1. Navigate to the Contracts page: Once you've funded your account, you can navigate to the Contracts page by clicking on the "Contracts" tab in the MEXC navigation bar.
2. Choose a contract: On the Contracts page, you'll see a list of all of the available contracts. You can choose a contract to trade by clicking on its name.
3. View the contract details: Once you've selected a contract, you'll be taken to the contract details page. This page will show you information about the contract, such as its underlying asset, its expiration date, and its trading fees.

How to Place a Contract Order

1. Choose an order type: There are two main types of contract orders: market orders and limit orders. Market orders are executed immediately at the current market price, while limit orders are executed only when the market price reaches a specified level.
2. Enter the order details: Once you've chosen an order type, you'll need to enter the order details. This includes the quantity of contracts you want to trade, the price you want to trade at, and the order type.
3. Submit the order: Once you've entered the order details, you can submit the order by clicking on the "Submit Order" button.

How to Manage Contract Orders

1. View open orders: You can view your open orders by clicking on the "Orders" tab in the MEXC navigation bar.
2. Cancel an order: If you want to cancel an order, you can click on the "Cancel Order" button next to the order.
3. Close a position: If you want to close a position, you can click on the "Close Position" button next to the position.

How to Trade Contracts Successfully

1. Do your research: Before you start trading contracts, it's important to do your research and understand the risks involved.
2. Start with a small amount of money: When you're first starting out, it's a good idea to start with a small amount of money so that you can learn how to trade without risking too much money.
3. Use stop-loss orders: Stop-loss orders can help you to limit your losses if the market moves against you.
4. Don't be greedy: It's important to set realistic profit targets and to avoid getting too greedy when trading contracts.
5. Be patient: Contract trading can be a volatile and unpredictable market, so it's important to be patient and to wait for the right opportunities to trade.