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Newbie-friendly Tutorial: Steps of Perpetual Trading on CoinEx

2021-07-14 03:43:34

So how can we trade perpetual contracts on CoinEx? Let's take the long trade of BTC by the cross margin mode with tenfold leverage in the BTC/USDT market as an example to demonstrate the process step by step:

Step 1: Enter the perpetual contract trading page

Visit www.coinex.com in an explorer, and after signing in, click [Perpetual] on the top navigation bar to enter the perpetual contract trading area.

After entering the perpetual contract trading page, select USDT-M Contracts in the market display area and then the specific market where the perpetual contracts are traded (here we take BTC/USDT as an example); 

Step 2: Transfer assets to the perpetual account

On the perpetual contract trading page, click [Transfer], select [Spot Account] and [Perpetual Account] and [USDT] in Coin Type, set the [Amount], and click [Submit] to transfer USDT.

Step 3: Set the margin mode and adjust the leverage

Here we take Leverage: Cross Margin 10X as an example. Select [Cross] for the margin mode and [10X] for the leverage;

Step 4: Open a position/Buy BTC for a lower price (take limit orders for example):

1、In the BTC/USDT perpetual market, set the [Price] and [Amount] and then click [Buy BTC].

 2、When the order is completed, BTC is bought/long trade of BTC is done. You can check details in [Current Position].

Step 5: After the BTC price rises to expectations, close the position/sell the BTC at a higher price

Below are two methods

Method 1: Close the position in the order area (here we take limit orders for example)

In the “Transfer” area of the BTC/USDT perpetual contract market, set the [Price] and [Amount] and then click [Sell BTC]. When the order is completed, the position is closed/BTC is sold;

(Note: In the “Transfer” area, if you want to completely close the position, the amount must be the same as the position; if the amount is greater than the position, the position will go the opposite direction after the order is completed.)

Method 2: Close the position at the current position (here we also take the limit orders for example)

Set the [Price] and [Amount] on the BTCUSD contract market, and then click [Close Position] to complete the delegation. When the order is executed, the close/sell will be completed.

Step 6: Transfer the assets to the spot account

Click [Transfer], select [Spot Account] and [Perpetual Account] and [USDT] in Coin Type, set the [Amount], and click [Submit]to transfer USDT.

At this point, we have gone through the entire process of perpetual contract trading. But here is a reminder: perpetual contract trading allows you to gain considerable profits with relatively small funds, but huge losses would occur if you made a wrong judgment. To prevent forced liquidation, it is suggested ordinary traders should not hold heavy positions with high leverage. Hundredfold leverage sounds good, yet remember to control your desire.

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