How to make money from AscendEX contract trading

Contract trading on AscendEX provides access to a robust trading platform with a diverse selection of perpetual and quarterly futures contracts, allowing traders to speculate on future price movements of digital assets without owning them.

Nov 23, 2024 at 11:29 pm

Step 1: Understand AscendEX and Its Contract Trading Platform

AscendEX is a prominent cryptocurrency exchange that has gained recognition for its robust trading platform and a wide range of digital assets.
Contract trading, often referred to as futures trading, enables traders to speculate on the future price movements of an underlying asset without actually owning the asset.
AscendEX offers perpetual and quarterly futures contracts, providing traders with flexibility in tailoring their trading strategies.

Step 2: Open a Trading Account on AscendEX

Register on the AscendEX website to create a trading account.
Provide personal information, including name, contact details, and identification verification, as required by regulatory compliance measures.
Fund your account with cryptocurrency to start trading.

Step 3: Choose the Right Contract

AscendEX offers a variety of perpetual and quarterly futures contracts across multiple cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).
Perpetual contracts have no expiration date, allowing traders to maintain their positions indefinitely.
Quarterly contracts expire on a specific date, typically every three months, and represent a commitment to buy or sell the underlying asset at that future date.

Step 4: Analyze Market Trends and Formulate a Trading Strategy

Utilize technical analysis indicators, such as moving averages, Bollinger Bands, and Relative Strength Index (RSI), to identify trading opportunities.
Consider market sentiment, news events, and economic indicators that may influence the price direction of the underlying asset.
Develop a trading plan that outlines your entry and exit points, risk management parameters, and profit targets.

Step 5: Place Your Trade

Access the AscendEX contract trading platform and select the desired contract to trade.
Choose between long (buy) and short (sell) positions based on your market analysis and trading strategy.
Determine the number of contracts to trade, set leverage (the ratio of your own funds to borrowed funds), and input the target price and stop-loss levels.

Step 6: Monitor Your Trades and Manage Risk

Regularly track the performance of your trades through the AscendEX trading interface.
Monitor price movements, adjust leverage and stop-loss levels as needed, and take appropriate action to manage risk and maximize potential profits.
Keep abreast of market news and events that may impact the underlying asset's price.

Step 7: Close Your Trades and Realize Profits

When your profit target is reached or your stop-loss level is triggered, close your trades to realize your profits or minimize losses.
Choose between the "Market" or "Limit" order types to exit your positions.
Withdraw your profits from the AscendEX trading platform to your personal cryptocurrency wallet.

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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