How to turn off the contract trading mode on Eureka?

Before disabling contract trading mode on Eureka, it's crucial to assess the associated risks, such as the potential for magnified losses due to leverage.

Jan 26, 2025 at 03:06 pm

Key Points:

• Understand the risks associated with contract trading.
• Locate the contract trading mode settings on Eureka.
• Follow the steps to disable contract trading mode.
• Consider alternative trading strategies.

Steps to Turn Off Contract Trading Mode on Eureka:

1. Assess the Risks:

Before disabling contract trading mode, it is crucial to understand the risks involved. Contract trading involves speculating on the price movements of an underlying asset using leverage. This leverage can magnify both profits and losses, making it a high-risk, high-reward endeavor. Traders must carefully weigh the potential rewards against the risks before proceeding.

2. Locate the Settings:

Once you have assessed the risks, you can locate the contract trading mode settings on Eureka. Go to the "Settings" tab and select the "Trading" option. Underneath the "Trading" section, you will find the "Contract Trading" settings.

3. Disable Contract Trading Mode:

Toggle the "Enable Contract Trading" option to the "Off" position. This will disable contract trading mode on your Eureka account. You will no longer be able to open or close contract positions.

4. Explore Other Trading Options:

After disabling contract trading, consider alternative trading strategies. Eureka offers a variety of trading options, including spot trading, leveraged token trading, and MOVE trading. Spot trading involves buying and selling cryptocurrencies directly, while leveraged token trading involves using leverage to trade pre-designed portfolios. MOVE trading allows traders to speculate on the volatility of an underlying asset.

FAQs:

• Why should I turn off contract trading mode?

You should turn off contract trading mode if you are unfamiliar with the risks involved, have limited trading experience, or are not prepared to handle the potential losses associated with leveraged trading.

• What are the alternatives to contract trading?

Alternatives to contract trading include spot trading, leveraged token trading, and MOVE trading. Spot trading involves buying and selling cryptocurrencies directly, while leveraged token trading involves using leverage to trade pre-designed portfolios. MOVE trading allows traders to speculate on the volatility of an underlying asset.

• Can I re-enable contract trading mode in the future?

Yes, you can re-enable contract trading mode by following the steps outlined above and toggling the "Enable Contract Trading" option to the "On" position. However, it is recommended to thoroughly understand the risks involved before re-enabling contract trading mode.