As a type of perpetual contract, USDT-M contract is also called positive contract and stablecoin contract in the encryption market. It takes USDT as the pricing unit and anchors the spot market price through the capital cost mechanism; Users may buy long or sell short contracts to obtain the profit from the increase or decrease of digital currency price by judging the price change.
How to trade USDT-M contracts in CoinEx? We will introduce from the following two aspects: CoinEx USDT-M contract market trading page and how to trade in CoinEx~
In the CoinEx USDT-M contract market, the trading page includes the following sections:
(1) Contract type switching area (2) Search bar and market selection area (3) Contract basic market display area (4) K-line candlesticks and depth map (5) Opening type and leverage selection area (6) Rate discount setting and rate display area (7) Order area (8) Active buying volume & active selling volume ratio (9) Market spread depth display area (10) Latest transaction display area (11) Contract asset area (12) Current position and historical position query area (13) Trading record query area.
How should we buy long or sell short by judging whether the currency price rises or falls to obtain multiple profits in USDT-M contracts? We will give two examples to explain.
I. If a rise of currency price is confirmed, buy long to make a profit in USDT-M contracts.
Here we take the BTCUSDT market as an example. When we buy long BTC by judging the rise of its price, we need to open a position /buy BTC at a lower price, and close a position/sell BTC at a higher price after the currency price rises to the expected price. Finally, we will make a profit after the settlement of profit and loss. Next, we will take an example that the 10 times leverage of the cross margin mode is used to buy long BTC in the BTCUSDT market to explain the specific steps~
- Please visit www.coinex.com through the browser. After successfully logging in, click [Contract] in the top navigation bar to enter the contract trading page;
2. After entering the contract trading page, select the USDT-M contract in the market display area, and select the market where contract trading is required, that is BTCUSDT here;
3. Please click [Asset transfer] on the contract trading page, select [From spot account to perpetual account] in the asset transfer pop-up window, select the currency [USDT], set [Quantity], and then click [Submit] to complete the transfer;
4. Please set the margin mode and adjust the leverage multiple and choose the cross margin mode and 10 times leverage here;
5. We will take limit order as an example. While opening a position/buying BTC with a lower price, we need to sequentially set [Bid price] and [Buying volume] in the BTCUSDT contract market, and then click [Buy BTC] to conduct the order;
6. When the order is completed, the buying/longing is completed as well. We can view the “Position detail” in [Current position]
7. We can close a position/sell BTC at a higher price after BTC rises to the expected price. Here introduce two methods for you~
(1) Method I: Close a position by selling position quantity in the order area (here take limit order as an example)
After sequentially setting [Ask price] and [Selling volume] in the “Order area” of the BTCUSDT contract market, click [Sell BTC] to conduct the order. When the order is completed, so is the position closing/selling;
(PS: When closing the position through the order area, if we want to completely close the position, the order quantity shall be consistent with the position quantity; if the order quantity is greater than the position quantity, the position in the opposite direction shall be held after the order is completed.)
(2) Method II: Close a position at the current position (here take limit position closing as an example)
After sequentially setting [Closing price] and [Closing volume] in the “Current position” of the BTCUSDT contract market, click [Close the position] to conduct the order. When the order is completed, so is the position closing/selling;
8. Send the contract assets to the spot account
II. Assuming that the currency price falls, how to sell short through USDT-M contracts?
We also take the using of 10 times leverage of the cross margin mode to sell short BTC in the BTCUSDT market as an example. We need transfer assets into perpetual account, and choose the cross margin mode and 10 times leverage;
1. Take limit order as an example, open a position/sell BTC at a higher price.
After sequentially setting [Ask price] and [Selling volume] in the BTCUSDT contract market, click [Sell BTC] to conduct the order; When the order is completed, the selling/shorting is completed as well. We can view the “Position detail” in [Current position];
2. After BTC falls to the expected price, closing a position/buying BTC shall be conducted at a lower price. There are also two methods:
(1) Method I: Close a position by buying position quantity in the order area
Here we will take the limit order as an example. After sequentially setting [Bid price] and [Buying volume] in the “Order area” of the BTCUSDT contract market, click [Buy BTC] to conduct the order. When the order is completed, so is the position closing/buying;
(2) Method II: Close a position at the current position
Here we will take the limit position closing as an example. After sequentially setting [Closing price] and [Closing volume] in the “Current position” of the BTCUSDT contract market, click [Close the position] to conduct the order. When the order is completed, so is the position closing/buying;
3. Finally, send contract assets to the spot account.
At the end of the article, we will remind all of you that contract trading is risky, and don’t follow the trend of unfamiliar contracts without understanding the market ~
