Opening a position
Opening a futures position with FuturesAI.
Summary
So you've made it this far, you've funded your FuturesAI account and you're ready to start trading futures - but where exactly do you start? In this guide we'll show you how to open your first position, from choosing a market all the way through to sharing your trade card.
Choosing Markets
So let's get started by choosing your market, which is essentially a pair of crypto currencies that you'll use to speculate on.
Opening the Trading Menu: From the main menu of the FuturesAI bot you'll find the Trading Menu, open that up to access the different trading solutions we offer, along with being able to manage your existing open positions.
Choose Markets: Open up the Markets menu to find a list of the currently available ETH markets, if you're an FuturesPass subscriber you'll see your additional markets here too. Choose the currency pair you'd like to open a position in.
Shorting and Longing: After selecting your Market (let's say you chose $GROK for the sake of our guide here) you'll be shown a more detailed view of the token, it's information and chart - here you're able to choose between opening a short position or a long position.
FuturesPass holders get access to exclusive, more volatile markets.
Opening a Position
Opening a position is an easy and streamlined process within the FuturesAI Telegram bot, after you've selected a market and pulled up a more detailed view of the token, you'll be able to chose between opening a Long position or a Short position. Shorts aim to profit on the downside of a tokens price, whilst Long positions aim to profit from the price increasing.
Up or Down, Long or Short: Choose your Futures position type, will the price go up, or come tumbling down? Select from Short Positions and Long Positions.
How Much You Can Afford: After choosing your position type you'll be prompted to enter the amount of Ether you would like to open this position with, currently during BETA the maximum size position you can open is 0.02 Ether.
Leverage and Margin (coming soon): If you're lucky enough to have snagged a spot in our controlled testing group, and have active funds in your collateral balance, you'll be prompted to choose a leverage option here if you'd like.
Position Duration and Fees: Once you've passed your position amount and set up your margin (if applicable), the platform will provide a final prompt for you to select the duration of your position. Positions can be closed early, and extended. See pricing and fees here.
Review and Confirmation: Finally you'll receive a breakdown of your trade including the entry price, duration, underlying assets and any fees - press the Confirm button if you agree and your trade will immediately be opened.
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