Let’s start by looking at that Bityard The global contract operations dashboard doesn’t worry about the cut for the amount of disclosure and understanding of each field. Each one is treated in isolation with the respective images:
1. List based on the respective assets.
2. Graph showing volatility over time.
3. Leverage rule.
4. Global settings.
5. Initialization and individual order configuration.
6. Rules and details of the respective contract.
7. List of open positions with their individual settings.
Remember that in contracts you are not acquiring the asset itself, but rather its representation, so you cannot withdraw, but only the conversion of what is not leveraged at market value.
Tabs with the descriptions “Optional”, “Main area” and “Innovative area” can be seen in the list. We focus on “Main Area” which, as understood by the platform, are consolidated assets in contracts and offer lower risk, while “Optional” are selected as favorites.
All content is dealt with exclusively in transactions in BTC / USDT contracts, which are by far the best known, and those described in the text for this article do not change for the other pairs of assets.
The diagram is the same old and familiar TradingView with default line configuration that can be changed at the discretion of the user as the user becomes more comfortable or familiar to get their execution results.
The settings for the chart are somewhat limited, but sufficient for day trading. The most important settings are visually displayed on the screen and the settings can be found in the lower right corner of the diagram. In day-to-day operations, unlike swing and other operating methods, the chart is just an observation point and doesn’t require you to have a lot of details, which can even hinder decision-making.
The leverage rule or configuration is one of the most important parts or part of margin operations. It determines the risk you have in each position created. The greater the risk, the greater the attention required and, typically, the faster execution completion costs are required.
As you increase your leverage, your settlement margin decreases and the number of contracts you can open a position in is also decreased. This is due to the fact that a minimum job that uses part of your funds is eligible for the respective leverage. Be careful with the leverage you choose, avoid unnecessary risks and do not go “all in” in a single position.
As mentioned in the previous publication, BityardDue to its contractual methodology, it reduces the user’s risk but at the same time imposes some constraints in order not to be harmed and at the same time to eliminate the excessive risk to the user.
This setting is the default for all new position executions that you make unless you make special configuration at the time of creation.
a) The TP ratio The parameter represents the percentage of Take Profit that you can get from a single position. In other words, you’ve closed the position to automatically make a profit between 300% and 500%. Mandatory condition at your discretion.
b) The SL radio The parameter indicates the percentage of the stop loss that you can get from a single position. In other words, you have closed the position in such a way that it automatically avoids losses between 10% and 90%. Mandatory condition at your discretion.
c) Over night On the right there is a question mark that explains, but for your information, if it is selected, positions will not be closed on the opening round set for the market, but a certain charge will be made if it is not marked with the positions are automatically closed beforehand. You have to analyze your situation in the positions in order to make a decision.
d) Open order confirm It’s just the situation of asking for confirmation every time you open a position
e) Close order confirmation is just the situation of asking for confirmation every time you close a position.
At the very top it is possible to see the “Market” and “Limit” buttons. When the market is active, you simply enter the desired amount within the available limit and the contract is immediately purchased at price as a long (buy) or short (sell) position, meaning with Limit you can tell where you are Want to purchase your additional contract position, be it long (buy) or short (sell), ie your order is waiting for the value defined in the definition to run at the respective price.
The big difference in relation to the traditional spot, and taking into account the fact that you are not acquiring the asset yourself, as previously described, is that taking a short position will benefit you from the decline and buying a position will benefit you from the valuation.
In the following, TP and SL have the same purpose, which is shown in the global configurations and overnight, but they are based on the sequence to be executed.
Below are the rules for operating in the contract market, what is available for the market, and after calculating the fees to operate in the market, including overnight, you need to keep in touch.
There is still general information and some links to the asset you are working on.
At the very top are tabs that show the order of elapsed activities and executions. Let’s focus on the open positions. The DEMO and LIFE The versions are exactly the same, with the only difference that DEMO does not use any real financial value, there is no loss but there is also no gain, it is a training tool.
It can be seen that there is a button at the top that closes instantly and we need to remember that Bityard We have the advantage that we don’t work with it CROSS or ISOLATED, but with INDIVIDUALLY, where each execution is a new position.
Let’s focus on the details of the positions we see:
a) Range: Obtained through the selected leverage and bring you the respective profit in relation to the volume operated in relation to the part of your fund used to which it relates
b) To open: The value of the execution of the opening of the position at which the calculation starts is the entry value when buying or selling.
c) TP: The automatic Take Profit configured for the particular position as defined by the general or specific opening settings.
d) SL: The automatic stop loss configured for the particular position as defined by the general or specific opening settings.
e) Profit and Loss Account: Represents the profit or loss in the base value of the pair for the position, calculated from the leverage effect with an impact on the opening value.
f) Profit and Loss Account: Represents the profit or loss as a percentage of the pair for the position, calculated from the leverage with an impact on the opening value.
The Close button Position closing is carried out individually on the position line.
The Settings button In the open position, the configuration for setting the automatic execution change to Take Profit and Stop Loss of the position is opened. In this situation, it can be defined in terms of amount or price and must never exceed the existing restrictions.
The Plus (+) button it is such that it is possible to add more working latitude to the position. You can never remove the border. This is to give you more space under certain circumstances. Be careful though, as drowning can make you abused think you are saving yourself, in addition, all of these will reduce your leverage.
I stay here, I hope I have helped. Many Thanks.
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