1. Enter the contract transaction
1) Login into the Bit-Z website, find the “Contract Transaction” button, click it and enter the Contract Trading page.
2) If you are not logged in at the main station, you can log in by entering the contract sub-station and clicking the “Login” button on the left or in the upper right corner of the page.
2. How to apply for simulation funds?
1) Click the “Apply Simulation Funds” button in the lower left corner of the page, then the prompt of successful application will pop up in the upper right corner.
2) After applying for the simulated funds, the “Available Balance” in the lower left corner will display the updated balance. Then you can conduct a simulated transaction.
3. Choose the contract
1) Select the appropriate contract type as needed, such as the BTCUSDT Perpetual Contract. Find the USDT contract in the upper left corner of the page and click on “BTC” to select the BTCUSDT Perpetual Contract.
4. How to place an order?
There are two ways to place an order. Select the limit price or the market price under the “Place Order” section (no need to enter the price under market price mode).There are two position patterns: Cross Margin and Isolated Margin. Take it as an example under the limit price and the Isolated Margin.
1) Select the limit price and isolated margin mode. Select the leverage multiple. Manually enter the price or click the deep fill price button next to it. Manually enter the contract quantity;
2) Click the “Buy/Long” or “Sell/Short” button. Take going long as an example. Enter the confirmation page to check the order information. Click the “buy/Long” button then the order is successfully placed.
3) If the order is not completed immediately after the order is placed, you can view or cancel the pending order under the “Activated Order” list;
4)After the order is completed, it will be displayed in the current position list; the positions in the list can adjust the margin and perform liquidation.
5) If positions are successfully opened, the holding position column on the left will display the current position information; click “Adjust Lever” to adjust the leverage multiplier or the mode of the position.
5. View the income
1) You can view your position under the “position” list if you have one, and the income is divided into unrealized and realized profit and loss.
Unrealized profit and loss is the estimated profit and loss amount after the current position is liquidated according to the Fair Price. Red represents the account is losing money, and green represents the opposite.
Realized profit and loss includes transaction fee, timed capital rate and partial liquidated income. Red represents the account is losing money, and green represents the opposite.
2) After liquidation, the income from it will be displayed under the “Liquidated Position” list.
6. How to liquidate a position?
There are two ways to liquidate the position: liquidating the position in the position list and putting an order to liquidate the position.
Method 1: In the “Current Position” list, click the “Limit” button on the right of the position to enter the price, select the closing ratio or input the quantity of contracts. Then click the button below to liquidate with limit price. If not completed immediately, it will be displayed in the activated orders where you can click “cancel the liquidation order”. You can also click the market price button to make quick liquidation without entering the price;
Method 2: Put an order with opposite direction and same quantity on the left. Or you can also make liquidation here.
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