If you have completed the study of crypto and Perpetual Futures, congratulations, you already have a certain understanding of crypto Perpetual Futures, and you can try to start trading.
This article will guide you to start your first Perpetual Futures transaction on Coincall.
On the Coincall homepage, click "Futures", select the Futures you want to trade, and enter the trading page.
Note: The following guides and tutorials are examples and do not constitute any investment advice.
The current price of BTC is 29,000 USD. You predict that the price of BTC will continue to rise in the future. You choose to long 1 BTC on Coincall Perpetual Futures with 10x leverage.
Select the direction of the Futures: "Buy"
Set the leverage to "10x"
Step 3: Set the OrderType.
We will introduce all order types for you, please select it according to your transaction needs.
- Limit Order: you can enter the order price and quantity and click “Buy/Long” or “Sell/Short” to place a limit order;
If you buy/long 1 BTC with 10x leverage at a price of $30,000, the required margin is $3,000.
Click the "Buy/Long" button, and after confirming in the order confirmation window, your order will be released. The limit order needs to wait for the market price to reach the price you set before it can be filled, and it takes a certain period of time. If it has not been filed temporarily, you can check it in "Open Orders".
- Market Order: A market order is an order to buy or sell the product at the best available price in the current market.
If you buy/long 1 BTC with 10x leverage, the system will calculate the required margin for you, which is $2957.07
Click the "Buy/Long" button, and after confirmation in the order confirmation window, your order will be released, and the market order will be filled immediately. You can view your orders in "Positions".
Currently, Coincall supports Only-Maker (Post only), Limit Plan Order (Stop Limit), and Market Plan Order (Stop Market).
- Only-Maker (Post only)
If you wish to enjoy Maker fees, you can choose Only-Maker (Post only). For example, if you want to buy BTC at a price of $30,000, and the Ask price is $30,001, and there is no existing order that matches the price, you will be a Maker, and the order will be successfully released. If you buy at $30,001, it will immediately match the Ask and the order will be canceled.
- Limit Stop Order (Stop Limit)
The Order allows traders to set the order price, quantity, and trigger conditions in advance. When the contract's mark price reaches the predetermined trigger price, the system will send the limit order to the market according to the order price and quantity. This type of order is suitable for experienced traders executing trading strategies.
Note: Before the trigger, the order has no margin requirements. Traders can successfully set any conditional orders. However, if the account does not have enough margin at the time of the trigger, the order will be invalidated.
Suppose the current BTC price is $30,000, and you want to buy 1 BTC at a price of $28,500 when the BTC falls to $29,000. You can choose a Stop Limit Order and set the trigger price to $29,000, the order price to $28,500, and the order quantity to 1 BTC. When the price is equal to or less than $29,000, the order will be triggered. The system will send the order to the market as a limit order: the order price will be $28,500, and the order quantity will be 1 BTC.
- Market Stop Order (Stop Market)
The Market Stop Order is the same as the Limit Stop Order, but there is no need to set the order price. After the trigger, a market order will be pushed.
Suppose the current BTC price is $30,000, and you want to buy 1 BTC at a price of $28,500 when the BTC falls to $29,000. You can choose a Stop Market Order and set the trigger price to $29,000, and the order quantity to 1 BTC. When the price is equal to or less than $29,000, the order will be triggered. The system will send the order to the market as a Market Order.
If you need to cancel an order, please find the order in "Open Orders" and click "Cancel" on the right side of the motor.
You can monitor the "ELP" and "Profit and Loss" data in the position to decide whether to close the position.
"ELP": The estimated mark price at which your position will be incrementally liquidated.
If you need to close your position immediately, please select the position you want to close under "Positions", and click on the "Market All" buttons to close the position.
After that, the system will show the "Order Confirmation" pop-up window. Confirm that all the information the system showing is accurate and click on “Confirm”. Your position will be closed at the system-calculated "Market price".
The number of your positions will be reduced and the record will appear in the "Order History", where you can view your PNL.
Step 5: Take Profit Stop Loss
When the price of BTC rises, you hope that the price of BTC will rise to a certain price before you close the position and take profit:
The current price of BTC is 29,843 USD. If you want to close the position when BTC rises to 35,000, then you can close your position at “Limit Price”. On the right side, enter the price 35,000 and quantity 1 you set to close the position, click the "Limit" button, and your order will appear in the "Open Orders".
When the BTC price falls, your loss will expand, and you consider selling the BTC contract at a certain price to stop the loss:
The current Mark price of BTC is 29,843 USD. When BTC falls to 29,000 and you want to quickly close your position immediately, then you can choose to place a reverse "Stop Market " order. Select "Sell" in the order, select "Stop Market" for the order type, set the trigger price to 29,000, and set the amount to 3, click "Sell/Short", and your Stop Loss order will appear in the Open Orders.
The current Mark price of BTC is 29,843 USD. When BTC falls below 29,000, you consider closing the position at 28,500 to stop the loss. Then you can choose to place a reverse "Stop Limit " order. Select "Sell" in the order, select "Stop Limit" for the order type, set the trigger price to 29,000, set the Limit Price to 28500, and set the amount to 3, click "Sell/Short", and your Stop Loss order will appear in the Open Orders
If your position is extremely risky and the Mark price reaches the liquidation price, the position will be liquidated, which means that you will lose all your margin. The system will also send a liquidation notification email to your registered email address.
However, you can reduce the leverage of your positions by adding positions with lower prices, so that the Mark price remains below the liquidation price.
You long 1 BTC with an opening price of $30,000, and leverage of 10x. Your liquidation price is $27,000. (Other fees are ignored here)
The current Mark price of BTC is $28,000, which is about to reach your liquidation price. You can buy 1 BTC Perpetual Futures at a price of $28,000 with 10x leverage to reduce your average opening price and liquidation price.
Your liquidation price= (30000+28000)-(30000+ 28000)/2= 26100.
The operation steps of "sell/short" are roughly the same as "buy/long", just choose the selling direction in the first step.
We hope that you will trade cautiously after fully understanding the possible risks of Perpetual Futures.
** Remember to always trade responsibly and do your own research！**
I hope you have a pleasant trading experience on Coincall~
If you have any questions during this process, please contact our customer service center for help.