1、Contract trading is an agreement between buyers and sellers to receive a certain amount of an asset at a specified price at a certain time in the future. A contract is a standardised contract between a buyer and a seller. The exchange specifies the type of commodity, trading time, quantity and other standardised information. The contract represents the rights and obligations of the buyer and seller. In simple terms, it is an agreement to trade a certain amount of a commodity at a certain time and place in the future. (1) Trading hours: Contracts are traded 24 hours a day, 7 days a week, and are only interrupted on Fridays at 16:00 (UTC+8) during settlement or delivery. Contracts can only be closed, not opened, in the last 10 minutes before delivery. (2) Transaction types. There are two types of transaction types, open and close positions. Open and closed positions are further divided into two directions, buy and sell. Buy to open a long position (call) means that when the user is long or bullish on the index, he buys a certain number of new contracts. A "buy to open long" operation will increase the long position after a successful aggregation. A Sell Close Out (long position closing) is when the user is no longer bullish on the future index and covers the sold contract, offsetting the currently held bought contract to exit the market. A "sell to close" operation will reduce the long position after a successful aggregation. Selling short (bearish) means selling a certain number of new contracts when the user is bearish or bearish on the index. A "sell to open" operation will increase a short position if the aggregation is successful. A buy to close (short position closing) is a buy contract that the user is no longer bearish on the future of the index and is hedged against the current sell contract to exit the market. A "buy to close" operation will reduce the short position after a successful aggregation. (3) Order Placement Methods Limit orders: The user needs to specify the price and quantity of the order. Limit orders can be used to open and close positions. Counterparty orders: If the user chooses to place a counterparty order, the user can only enter the number of orders to be placed and cannot enter the price of the order. The system will read the latest current counterparty price (if the user is buying, the counterparty price will be the sell 1 price; if the user is selling, the counterparty price will be the buy 1 price) and place a limit order at this counterparty price the moment the order is received. (4) Positions Once a user has opened and closed a position, he or she has a position and positions in the same direction on the same contract will be combined. There can only be a maximum of 6 positions in a contract account, i.e. long position in the current week's contract, short position in the current week's contract, long position in the next week's contract, short position in the next week's contract, long position in the quarterly contract and short position in the quarterly contract. (5) Order placement restrictions The platform will set limits on the number of positions a single user can hold in a certain cycle and the number of orders a single position can open/close to prevent users from manipulating the market. When the number of positions or commissions of a user is too large and the platform considers that it may pose serious risks to the system and other users, the platform has the right to request the user to adopt risk control measures including but not limited to withdrawal of orders and closing of positions. The platform has the right to adopt measures including, but not limited to, limiting the total number of positions, limiting the total number of commissions, limiting the opening of positions, withdrawing orders, forcibly closing positions and other measures for risk control. (6) Contract price limit mechanism In order to prevent malicious manipulation of the market, the opening and closing prices of different kinds of contracts are restricted. For example, the BTC quarterly contract price limit Within 10 minutes of contract creation (when there is no basis difference limit). Highest price = spot index (1 + 0.5%). Lowest price = spot index (1 - 0.7%). After the contract has been generated for 10 minutes (when there is a basis spread limit). If (average of last 10 minutes basis spread + spot index) > spot index * (1 + 3%), then basis spread basis = spot index * (1 + 3%); () if (average of recent 10-minute basis spreads + spot index) < spot index * (1 - 4%), then basis spread = spot index * (1 - 4%). If [spot index * (1 + 3%)] > (average of recent 10-minute basis spreads + spot index) > spot index * (1 - 4%), then basis basis = average of recent 10-minute basis spreads + spot index highest price = min (basis spread * (1 + 2.5%), spot index * (1 + 3%)) min = max (basis spread * (1 - 3.5%),spot index * (1 - 4%)) The above rules, open and close positions are subject to restrictions, if open long or close short, when the commission price is higher than the highest bid price, it will trigger a hard limit; if open short or close long, when the commission price is lower than the lowest ask price, it will trigger a hard limit. 2. The content introduced above is only about the basics of cryptocurrencies, which relates to whether we can make money through cryptocurrencies. In addition to increasing your income by scientific methods, cryptocurrency money making is also about finding ways to save money. The handling fees are small, but they must not be ignored. I have calculated that with frequent transactions and long trading hours, the accumulation of fees can add up to more than 10,000 U a year. Next I will introduce a few common ways to reduce fees on large trading platforms. (1) Lowering Binance's fees Binance is currently the world's largest digital currency exchange, and you must sign up for Binance if you want to speculate on coins. The transaction fee is deducted from the assets received. For example, if you buy Ethereum/USDT, the fee is paid in Ethereum. If you sell Ethereum/USDT, the commission is paid in USDT. Example. You place an order for 10Ethereum at a price of USD3,452.55 per share. Transaction fee = 10Ethereum0.1% = 0.01Ethereum Or you place an order to sell 10Ethereum at 3,452.55 USDT per share. Transaction fee = (10Ethereum3,452.55USDT)*0.1% = 34.5255USDT What many people do not know is that the Binance transaction fee can also be reduced. If you want to reduce your Binance trading fees, you must use the invitation link below or use the invitation code "Q022W7SC" to register. https://accounts.binance.com/en/register?ref=Q022W7SC

(2) Reducing OKX fees OKX is a professional digital currency trading platform loved by many users, and its transaction fees can be reduced. Depending on the volume of transactions, OKX divides its users into two levels: normal and professional. Ordinary users are graded according to their OKB positions, while professional users are graded according to their trading volume and asset size. The different tiers determine the trading fees for the next trading day. When calculating the fee levels, if the coin trading volume, total trading volume of delivery and perpetual contracts (USDT delivery contract, coin-based delivery contract, USDT perpetual contract, coin-based perpetual contract), option contract trading volume, and asset volume meet the conditions of different fee levels, users will enjoy the fee discount of the highest level. First method: OKX has an official maximum savings rate of 20%. Use the link below to register with OKX and save 20% on fees. https://www.ouyi.business/join/BTC1ETH Second method: Open the OKX website and enter "BTC1ETH" in the "Invitation Code" on the registration page to see the cashback percentage: 20% at the bottom. Be sure to enter this invitation code, otherwise you can not get 20% cashback percentage. (3) Reduce FTX fees FTX is currently a very fast-growing, contract players more exchange, you must register FTX if you play the contract. if you want to reduce the FTX transaction fees, you must use the following invitation link to register. https://ftx.com/referrals#a=121031692 3, trading road is long, together with the forward Want to know more about how to reduce the commission? telegram: btcethcool We have set up a community dedicated to the study of trading, add telegram friends to pull you into the community.