Futures traders greatly depend on Contract Data to figure out market patterns and develop trading techniques. Contract Data is required by all expert futures traders for financial investment analysis. That stated, how do we inspect Contract Data on CoinEx? Here is a succinct illustration:
I. Check CoinEx Contract Data on Web/App
- For Web users:
First, go to the CoinEx site (https://www.coinex.com/) and log in to your CoinEx account, click [Futures] on the navigation bar and after that [Market Info], and choose [Contract Data].
- For App users:
Tap the icon in the upper right corner on the [Futures], and choose [Contract Data].
II. What is CoinEx Contract Data? How should it be utilized?
- Open Interest & Trading Volume
Open Interest describes the overall open interest of all users within a provided duration.
Trading Volume describes the overall carried out volume of the futures agreement within a provided duration.
Taken together, the Open Interest and Trading Volume aid financiers view the liquidation and closing volume in a futures market. For circumstances, A a great deal of futures agreements are closed or liquidated when the Trading Volume increases and the Open Interest falls; traders in the market are passionate about opening positions if both the Open Interest and the Trading Volume increase.
- Taker Buy/Sell Volume
Taker Buy Volume describes capital inflow volume.
Taker Sell Volume describes capital outflow volume.
A big Taker Buy Volume reveals that the marketplace belief falls under the greed spectrum. On the other hand, a big Taker Sell Volume suggests that the marketplace belief is within the worry variety, and numerous traders tend to offer brief.
- Long/Short Ratio (Account)
Long/Short Ratio (Account) represents the percentage of net long accounts to the net brief accounts within a particular duration.
This sign reveals us the marketplace disposition of retail traders and leading traders. In each Futures market, the long position worth equates to the brief position worth. And since of that, there are a couple of accounts with big worth in Long positions when the Long/Short Ratio (Account) is 150% (i.e. Long Account / Short Account = 1.5), which suggests that these accounts may come from the leading traders. Conversely, when there are numerous accounts with little worth in long positions, then they may come from retail traders.
- Top Trader Long/Short Ratio (Account)
Top Trader Long/Short Ratio (Account) represents the percentage of the net long positions to the net brief positions of the leading traders in the market.
Top trader describes the leading 20% traders in regards to position quantity in the existing market, and each account is counted as soon as without determining the particular position volume.
When it concerns futures trading, it’s indisputable that leading traders have much better trading routines and are more delicate than retail traders. As such, their propensity can be trusted by retail traders. However, it ought to be kept in mind that some leading traders and organizations utilize futures agreements as a hedging tool versus area dangers. Therefore, our own market insights need to likewise make a distinction when we describe Contract Data.
In conclusion, Contract Data is a crucial recommendation for futures traders that assist them evaluate the marketplace, figure out market patterns, and develop the matching trading techniques. Still, we need to likewise depend on our own market insights when selecting the ideal trading instructions utilizing Contract Data.