Contract Trading Course： How to open a position?

How to open a position?

Open position (take Buy / Long as an example)

1. Select positon type

Click the drop-down box on the right side of [leverage] and select the leverage multiple.

Click the drop-down box on the right of the delegation type to select the price limit mode.

[Price Limit] risk is controllable, and [price limit] operation is recommended.

PS: the [Price Limit] mode specifies the price limit and does not deal with a depth beyond the strategy.

The [Market Price] mode takes priority in terms of transaction speed, which may lead to an unexpected transaction depth.

[Stop limit Entrustment] more complex strategies can be planned, including take profit orders and stop loss orders, etc.

2. Enter price and Order QTY

Enter price and order QTY to determine transaction value

Enter 7081.3779usdt in the [price] column. In the price limit mode, the order from 7081.3779usdt to the last order of position is limited to match the transaction. If there is no order that can be matched, it will enter into the order book area to wait for the matching.

Enter 10000 in the [position] field which means the order QTY. If the contract face value = 0.0001, 10000 order QTY means 0.0001*10000=1 which is equivalent to 1 BTC position value.

The transaction value sent out this time is 1 BTC, calculated according to the price of the consignment sent out:

7081.3779* 10,000 * 0.0001 =7081.3779

The value of the position is $7081.3779usdt

4. Observe the opening cost

After entering the price and order QTY, please observe the opening cost.

Observe the cost and confirm the operation again.

The cost is related to the initial margin, price, the order QTY, active transaction handling fee and potential force liquidation handling fee.

Note: the cost of a short position is slightly higher than that of a long position due to the need to reserve more forced liquidation margin for a short position.

5. Opening positions

After the review, click the [buy / long] button to place the entrustment.

Click and place order

After buying / longing, it may be because the trader chooses the price higher than the lowest price in the seller's market and is matched. Because the price of the order cannot be changed, the transaction will be completed in the form of reducing the number of transactions.