You are looking for how to do it Future trading in Bybit but you don't know how?
In this article I will give you all the information on how to do Future trading Step by step by Bybit.
Let's start with the basics.
Before we start I should tell you that Future trading is not an easy process and it needs a lot of study to be able to make a profit.
Table of Contents
What is Bybit and how to register
Bybit is one cryptocurrency exchange based in Singapore, founded in 2018. It has over 10 million registered users and is one of the top 3 cryptocurrency derivatives exchanges in the world, However we have also detailed presentation about the Bybit exchange.
How do I register?
To register with Bybit, the process is very easy:
- Bybit Page: you should enter from the link here and it will take you to the home page to register.
- Email or phone: you will register by email or phone and the referral code will have your number 43536 to get the incubation for the fee.
- certification: and it will ask you to do a quick KYC that won't take you more than 7 minutes.
- and that was you have registered with bybit
How to make a deposit to Bybit
It's time to make your first one deposit.
- Buy Crypto: you will go to the class Buy crypto and it will make you choose your local currency but also which Cryptocurrency to buy, what you should buy is USDT or otherwise Tether
- Deposit Option: You can make a deposit with Google Pay, Visa, Mastercard
How to make future trading settings
To enter Future at Bybit you will go to the category Derivatives then USDT perpetual and finally you will press it Bitcoin.
Now let's assume that we want to Buy on Bitcoin Derivatives Future, i.e. take a long.
- Isolated: We will always take our trades with isolated and not cross.
- Leverage: Leverage if you are a beginner always below 4x until of course you understand how it works at 100%.
- Market/Limit: Market is when you want to enter the trade immediately and limit when you want to buy or sell at a better price.
- Order by cost: you will put the money you want for the trade.
- Stop loss: In all the trades you will take you will put a stop loss as you can see and in the diagram I have put in specific points where you will see how much you will lose and how much you will win and if everything is as you want you will click open long.
- Trade R/R: We will always take 1/2 of our trades.
- Risk: We always risk our account accordingly 4% to 3%.
After we have everything ready you will press confirmation for it take profit and stop loss and then you will press open long.
and it will show you your trade in Positions:
- P&L: You will see if you are in profit or loss.
- Lig Price: Here you need to be careful because in the lig that is written to you is the point where you will liquidate, so the stop loss you have set must be above the liq price
Psychology and trading
As I mentioned above trading futures it is a technique that needs time, strategy and back testing, you have to try what suits you and then follow your plan faithfully.
LIABILITY DISCLAIMER:
Cryptocurrency trading is VERY risky. Make sure you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your money
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