Bityard is a crypto asset digital futures trading platform that has been officially launched. According to industry sources, Bityard has received investment from a US hedge fund worth 10 million dollars.
The platform was founded in November 2022 and is headquartered in Singapore. Bityard is a digital currency futures trading platform, regulated by the American Money Services Business, the Singapore Accounting and Corporate Regulatory Authority (ACRA), and the Estonian MTR for the European Union.
Well, maybe that’s a little review about Bityard. If you are new to it and want to know how to trade futures at Bityard, let’s see the explanation below:
How to Trade Futures on Bityard
Let’s start by taking a look at the bityard futures dashboard globally, as far as publication coverage is concerned and understanding each field, don’t worry each will be explained separately with their respective images:
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1. Bityard Asset List
There is a wide selection of crypto assets that you can use to trade futures, one of the most popular being the BTC/USDT pair.
2. Graph of Volatility Over Time
The chart is the old and well-known Trading View with the same tradingview configuration, which can be modified according to the user’s wishes, which the user can feel more comfortable or accustomed to to get the conclusion of the market execution.
The settings for the charts are a bit limited, but sufficient for day trading, the main preferences are visually on the screen and the settings can be found in the lower right corner of the chart. In day trading, unlike other methods of operation, the chart is just a point of view and doesn’t require you to observe a lot of details, which can get in the way of making decisions.
The leverage rule or configuration is one of the most important parts or the most important part of the margin operation, it will determine the risk you will have on every position made, the bigger the eat the bigger the risk.
When you increase your leverage. Be careful with the leverage you choose, avoid unnecessary risk, don’t go “all in” in one position.
Also Read: How to Copy Trading at Bityard
4. Global Settings
No need to worry about losing assets because you can’t in real time want to close your trade. Because at Bityard you can manage it yourself!
This setting will be the default for all new position executions that you create if you do not run a custom configuration.
- The TP Ratio parameter represents the percentage of Take Profit that you can earn from a position, in other words you have configured to close the position for automatic profit between 300% to 500%. Mandatory conditions at your discretion.
- The SL Radio parameter represents the percentage of Stop Loss that can be obtained from a position, in other words it is configured to close positions so that there are no losses automatically between 10% and 90%. Mandatory conditions at your discretion.
- Overnight has a question mark on the right that explains it, but for your information, when selected, the position will not be closed on the specified opening turn for the market, but will execute a certain fee collection, if it is not marked the position will be closed automatically beforehand. You need to analyze your situation in a position to decide this.
- Open Order Confirm is just a situation to ask for confirmation every time you open a position
- CloseOrder Confirmation is simply a situation asking for confirmation every time you close a position.
5. Initialization and Configuration of Individual Orders
Right at the top you can see the Market and Limit buttons, with the Market active, just enter the desired amount, within the available Limits and the contract will immediately get a Long (buy) or Short (sell) position at the current price, with Limit, You will be able to specify where you will get additional contract positions to be acquired, be it Long (buy) or Short (sell), that is, your orders will wait for the value specified in the respective price to execute.
Below, TP and SL have the same purpose as presented in the global configuration, as well as overnight, but are oriented towards the order to be executed.
6. Respective Futures Rules and Details
Below you can see the rules for operating in the futures market, what is available for the market, and after calculating the cost of operating in the market.
7. Details of Open Position at Bityard
Focusing on the details of the position we see:
- a) Margin: Earned through selected leverage and will give you the respective advantage with respect to the volume operated in relation to the portion of funds you are referring to
- b) Open: The execution value of an open position, at which calculation begins, is the entry value in buying or selling.
- c) TP: Configured automatic take profit for a specific position, as determined by general or special opening settings.
- d) SL: Configured automatic stop loss for a specific position, as determined by general or special opening settings.
- e) P&L: Represents Profit or Loss in the base value of the pair for the position, calculated from the leverage impacting the opening value.
- f) P&L%: Represents the percentage of profit or loss of the pair for the position, calculated from the leverage impacting the opening value.
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