BigONE Coin Margin Trading Tutorial

BigONE Coin Margin Trading Tutorial: A Comprehensive Guide

Step 1: Enable Coin Margin Trading

• Navigate to your BigONE account and hover over the "Trade" tab.
• Select "Coin Margin" from the drop-down menu.
• Click the "Enable" button and follow the on-screen instructions.
• Once enabled, you can access the Coin Margin trading interface.

Step 2: Fund Your Trading Account

• You need to fund your trading account with the underlying asset you wish to trade on margin.
• Navigate to the "Assets" tab, select "Deposit," and choose the corresponding coin.
• Follow the instructions provided to transfer funds into your account.
• Ensure that you credit the correct coin address for the asset you wish to leverage.

Step 3: Set Loan Parameters

• From the Coin Margin trading interface, choose the desired trading pair.
• Enter the amount of the asset you want to borrow and the margin level you desire.
• The margin level determines the ratio of borrowed funds to your own equity.
• A higher margin level provides more leverage but also increases the risk of liquidation.

Step 4: Place an Order

• Select the order type you want to execute, such as Limit, Market, or Stop-Limit.
• Enter the order quantity, which represents the notional value of the position.
• Set the order price for Limit and Stop-Limit orders.
• Review the order details to ensure everything is correct.
• Click the "Buy" or "Sell" button to submit your order.

Step 5: Monitor Your Positions

• Your open orders and active positions can be viewed under the "Positions" tab.
• Monitor your positions regularly to adjust or close them as needed.
• The order book provides a real-time view of the bid and ask orders for your traded asset.
• Use the Stop-Loss and Take-Profit orders to manage your risk and protect your gains.

Step 6: Manage Margin and Leverage

• The margin level of your positions is crucial to ensure their sustainability.
• BigONE provides alerts when your margin level reaches certain thresholds.
• Adjust the loan parameters or deposit additional funds to maintain a sufficient margin level.
• The liquidation price indicates the point at which your position will be forcibly closed to protect the exchange.
• Manage your positions closely to avoid reaching this threshold.

Step 7: Close Positions and Repay Loan

• To close a position, navigate to the "Positions" tab and select the one you want to terminate.
• Click the "Close" button and confirm the cancellation.
• The borrowed amount will be repaid automatically using the available balance in your trading account.