How to start trading on EXEX?
How to start trading on EXEX?
Now, when you decide to enter the Crypto world, you probably have plenty of questions. Let’s discover a step-by-step road map of how to start trading.
Account creation
The very beginning is always related to exploring new Platforms. We are glad you decided to become a part of the EXEX platform!
To create an account, you just need to sign up, link your email or phone number, and that’s all. You can learn more about account creation by following that link:
Trading fundamentals
Once you are registered, you need to understand what cryptocurrency is and how it differs from fiat.
Cryptocurrency exchange takes place on the market. Thus, you have to go through trading fundamentals. On the market, we have 2 types of deals – Long and Short. When you think that the asset price will grow, you click “Buy”, or in other words, open a Long position. And when you believe that the price will drop, you click “Sell” or open a Short position. Depending on your predictions, the profit or loss will be shown on your screen. We also have indicators that show you signals whether it’s a good time to Buy, Sell, or stay neutral.*
Further on, check when it is the best time to trade right here:
Start trading
EXEX offers you futures to trade, let’s see how you can open a deal:
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To start trading on real funds, you need to deposit with crypto, or buy crypto with fiat.
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After replenishing your wallet with a deposit in USDT or after purchasing USDT, go to the “Trade” tab and select the crypto pair you are interested in; for example, BTC/USDT.
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On the screen, you will see a section with the RSI indicator and “Buy” and “Sell” buttons.
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Insert the amount of the currency you want to trade (#1 on the pic). Please note that the amount is already calculated, considering the leverage for the currency pair.
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Next, you can use the hint given by the indicator, which analyses market indicators in dynamics, and decide which deal to conclude (#2 on the pic) and what level of trading risk to choose (#3 on the pic).
Read more about risks in our "Risk Management" article.
In this market situation, the indicator* shows neutral, you can either wait for a better opportunity to open the deal or open it on your predictions.
*The cryptocurrency market is very volatile and subject to all kinds of influences. Therefore, EXEX reminds you that the indicator’s recommendations are not financial recommendations by EXEX. The indicator signals are an exchange tool based on technical analysis data.
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Based on your predictions, click on the “Buy” or “Sell” button to open a position. (#4 on the pic)
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Once the trend (price chart movement) reaches the required level according to the chosen risk level (in this case, "Low"), you will take your profit.
No strategy guarantees you 100% profit at every position. Sometimes you win, and sometimes you learn. The main goal is to find the algorithm that brings you more profit rather than losses while trading. As you gain more experience, you will be able to apply the most suitable strategies according to the market situation.
KYC
You can start trading on EXEX without being fully verified. Whenever you are ready, you can pass the KYC in order to increase the available amount to withdraw per day. The higher the verification level is, the higher amount becomes available to be withdrawn per day. Once your account is fully verified, you will have no limits to deposit and withdraw. In general, the verification time varies from 1 minute to 1 day. You can check how to pass the KYC and what documents are required.
How to improve your trading approach?
When you feel more confident about trading, you are ready to implement analysis to your predictions. You can use fundamental and technical analysis to make more accurate decisions. Read more about the financial analysis.
Keep practicing
To become a mature trader, you need to trade systematically. Create a trading schedule and follow it. Try to learn more, and take time to get used to new instruments and strategies. Step-by-step, you will reach your goal if you will work efficiently.