How To Place A Futures Trade

Below is a detailed explanation on how to place a futures trade on your crypto exchange before we proceed make sure you have funds in your Binance account or your desired crypto exchange 

Step 1: Login to your Binance account.

Step 2: Hover your mouse over the "Derivatives" menu at the top of the website and select "USD-M Futures" from the drop down menu.

Step 3: After you click on "Futures", you'll be directed to the futures trading interface. It may be a bit complex if you're not familiar with trading platforms. On this page, you will see the order book, recent trades, and the candlestick price chart.

Below is a picture format of how it looks like

Step 4: Transfer funds to your Futures Wallet. Click on "Transfer" beside your futures wallet balance at the top right of the interface ( it is highlighted with a red pen on the picture below). A dialog box will open. Here, enter the amount you want to transfer from your spot wallet to your futures wallet and click "Confirm transfer".

Step 5: Choose a futures contract ( it is highlighted with a red pen on the picture below) . On the top left side of the interface, you'll see a dropdown box with a list of available futures contracts. Select the one you're interested in trading.

Step 6: Choose your leverage. On the left side of the interface, there's a leverage slider. Drag it to select the amount of leverage you're comfortable with.

Step 7: Place your order. On the bottom right side of the interface, you'll see options for limit, market, and stop-limit orders.

Limit Order: Choose this if you want to buy/sell at a specific price. Enter your price and the amount you want to buy/sell, then click "Buy/Long" or "Sell/Short".

Market Order: Choose this if you want to buy/sell at the best market price. Enter the amount you want to buy/sell, then click "Buy/Long" or "Sell/Short".

Stop-Limit Order: Choose this if you want to set a stop-limit order. Enter the stop price, limit price, and the amount, then click "Buy/Long" or "Sell/Short".

Step 8: After placing your order, you can monitor it under the "Open Orders" tab. Once it's filled, it'll move to the "Positions" tab, where you can see your unrealised Profit & Loss.

Remember, futures trading involves significant risk and isn't suitable for every investor. The amount you may lose may be greater than your initial investment. Before trading futures, please understand the risks and ensure you can handle potential losses.