Tutorial on how to play the BigONE contract

By understanding the intricacies of contract trading through BigONE's platform, traders can leverage the power of high-leverage perpetual contracts to amplify their profits or hedge their portfolio risks.

Nov 22, 2024 at 11:34 pm

Tutorial on How to Play the BigONE Contract

Introduction

BigONE, a leading cryptocurrency exchange, offers a diverse range of trading instruments, including contract trading. This guide provides a comprehensive walkthrough for beginners on how to navigate the BigONE contract platform and participate in this exciting market.

Step 1: Understanding Contract Trading

Contract trading involves speculating on the price movements of an underlying asset without owning it directly.
BigONE offers perpetual contracts, which have no expiration date and provide high leverage.
Leverage allows traders to magnify their profits (and losses) with a relatively small initial investment.

Step 2: Registering for a BigONE Account

Create an account on the BigONE exchange website or mobile app.
Complete identity verification for enhanced security and trading privileges.
Fund your account with supported cryptocurrencies.

Step 3: Navigating the Contract Platform

Access the "Contracts" section from the BigONE homepage or menu.
Choose the contract you want to trade (e.g., BTCUSDT).
The platform displays the contract's details (price, leverage, fees).

Step 4: Placing an Order

Decide on the contract size (number of underlying assets per contract) and order type (market or limit).
Select whether you want to buy (long) or sell (short) the contract.
Enter the desired leverage ratio.
Review and confirm your order before submitting it.

Step 5: Managing Your Positions

Once your order is executed, you will hold a position (long or short).
The platform displays the profit/loss status of your position in real-time.
You can close your position at any time by placing an opposite order (selling for a long position or buying for a short position).

Step 6: Understanding Contract Fees

BigONE charges maker fees (for adding liquidity to the market) and taker fees (for taking liquidity from the market).
Fees vary depending on the contract, trading volume, and VIP level.
Be aware of these fees as they can impact your profitability.

Step 7: Strategies for Contract Trading

Trend Trading: Follow market trends and trade in the direction of the dominant trend (up or down).
Scalping: Make multiple small trades in a short period, capturing small profits from price fluctuations.
Hedging: Use contracts to offset risk in spot or other investments.

Step 8: Risk Management

Understand the risks associated with contract trading, including leverage and market volatility.
Set appropriate stop-loss orders to limit potential losses.
Monitor your positions closely and adjust your strategy as needed.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

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