08. How to Begin Spot Trading on FTX

 

1. Log in to FTX ➡︎ Click [Spot]

 

 

2. Select a pair to trade

Select a pair to trade. I will choose BTC/USDT as an example.

 

 

 

 

You will see the price action on the left, orderbook and order types(limit/market) on the right. Below, you will find more information such as open orders, order history, trade history, ect.

 

Choose the Order Type ➡︎ Enter Price(Limit) / Market Price ➡︎ Enter [Amount] ➡︎ [Buy]

 

 

There are various types of orders, as shown below. Select the type that best suits your needs.

 

Limit Order : Purchase or sale is placed at a desired price and is concluded when price is reached. It is useful for buying and selling in non-urgent situations and makes it possible to buy and sell at a better price.

Market Order : Buy and sell at the current market price. This requires the liquidity (quantity) required for the order and is immediately placed at the current market price. Fees are paid and are usually more expensive than limit orders.

Stop Market : Same as Stop Limit, but market price orders are activated instead of designated price orders.

Stop Limit : Pre-specified fixed-price order on the market if the market price is reached at the desired price.  Stop price is the price at which the designated price order is invoked when the market price is reached, and the limit price is the purchase or sale price that the stop price invokes.

*Set the stop price > limit price for selling orders, and the stop price <limit price for buying orders so that the order can be concluded as much as possible.

Trailing Stop : Orders are placed automatically when the top-to-bottom ratio (=callback ratio) that has risen along the trend exceeds the specified level. Trailing stops must be specified under specific conditions when ordered.

Take benefit : Termination function that is invoked when a trader's order reaches the expected revenue price. At the end of the day, the market price is activated in the form of an order, and the take profile limit with limit is terminated in the form of a limit price order.

Limit/Market TWAP : An algorithmic trading method that automatically concludes orders by dividing them by the time during the day. TWAP automatically closes the transaction according to the algorithm in the direction (long, short) that the coin is selected for a fixed period of time.

*While the automatic trading method has the advantage of reducing investor intervention and making more objective investments, it is difficult to expect large profits because the average selling price converges to the market average over time, and it is vulnerable to a surge and plunge.

 

 

 

3. Click Buy/Sell to Confirm Order