How to

Learn how to trade with Quantfury

Key facts:
  • Part 3 of the Quantfury app guide for trading on 5 different markets

  • Learn how to use the Quantfury app to trade in different markets

Sponsored content by Quantfury

This is part 3 of a total of 3 articles on the Quantfury trading app. In this article, we will learn how to work within the platform, how to deposit, modify operating power and withdraw funds, among other things.

Read the first part of this tutorial here, Quantfury: an application that allows you to trade on 5 different marketsor part two here, Learn how to register and use the Quantfury app.

Quantfury completely redesigned the concept of trading and did it in such a way that we can not only do it in 5 different markets from the same application, but in a very complete and simple way, because it allows us to order in just a few steps as and merchant professional. And all this directly from our smartphone.

It is worth noting that in the previous articles we have already reviewed what Quantfury is and its advantages, and we have learned how to register and how to use the application, so we recommend that you read both articles before starting.

Another thing worth clarifying is that the goal of this tutorial is not to teach you how to trade, since we will only focus on how to use the application to work in different markets. Therefore, it is advisable to have some knowledge of trading before using Quantfury.

content

Deposit funds into Quantfury

As we explained in the previous article, our Quantfury account is funded only with cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, DAI, Tether (OMNI and ERC20), Dash and QTUM and We can only make deposits in the same cryptocurrency at the same time.

As for the latter, you can only fund accounts with one cryptocurrency at Quantfury; This means that if we choose BTC for example, every subsequent deposit must be made in the same cryptocurrency as long as we have a positive balance. Otherwise, Quantfury will provide an option that allows us to choose the cryptocurrency we want to fund our account with.

Now, for the payment, we will have to go to the option Start trading (Start trading), which we can find either in the main section or from the side menu.

The first step will be to select a permanent trading power from those shown at the top. Amounts range from $2,000 to $200,000.

To know more about permanent workforce you can visit the following relationship.

Then we will have to select the currency of the account (account currency), by clicking on the icon of the cryptocurrency that interests us.

At the bottom is shown the amount to be deposited expressed in the selected cryptocurrency, which will depend on the selected operating power, $100 minimum required amount regardless of cryptocurrency.

Regarding the latter, it is worth clarifying something, the minimum amount is only a reference, because we can pay small amounts to the address shown to us. Of course, if we decided to fund our account in this way, the available balance will only appear when we reach the minimum amount, which is 100 USD.

To continue, we must click on Next.

Here we will be shown the wallet address corresponding to the selected cryptocurrency. In our case we chose BTC.

Now all that remains is to transfer the funds to the indicated address, we are waiting for confirmation from the network and we will have the balance available.

Add more assets

After the first deposit on the platform, it is possible to make additional deposits, but not from the Start Trading option because it disappears.

To make additional deposits, we will have to go to the Account option from the side menu and once there, go to the Add Funds option, which is at the end of this section, which when pressed will show us the wallet address to which we need to payleaving only the shipping on our end.

On the other hand, the amount of this deposit is entirely up to us and will not automatically modify the current Trading Power we already have, since after paying the deposit we can modify it manually, if possible, through the Increase Trading Power option in the Account section.

Modify the permanent workforce

The constant workforce depends on the net balance in our account and can be changed subsequently as long as the balance allows.

It is also worth noting that, If the value of our USD cryptocurrency deposit falls below the required minimum, we will not lose the level of operating power we possess.. For example: If our balance is 300 USD in BTC, which gives us an Operating Power of 6,000 USD and due to market fluctuations the balance is reduced to 250 USD, we will not lose the current level. Moose withdrawals They affect the level of operational power we possess.

To begin with, we will need to go to the Account option again and then to Increase Trading Power at the bottom of this option.

In our case, since we do not have enough balance to decide on the next level, Quantfury shows us different levels of operating power, which, when pressed, show the amount to pay in the Amount of funds required field. Required funds) to reach such a level.

After the manpower level is selected, we need to press Continue (Next) to move forward.

We are presented with a wallet address for payment. However, as we can see, we have a time frame of 1 hour and it tells us that we need to send exactly (Send exactly) that amount in order to increase our operational power. However, if you make a payment and the time period expires, there is no need to worry, because after confirmation, our available balance will appear.

If you do not execute deposit We will have to generate a new request within the stipulated time.

When depositing, all we have to do is wait for network confirmation and we will be able to see our new workforce level.

On the other hand, if we have enough funds in the account to increase the Operational Power, the procedure is manual, without the need for deposits.

Trading on Quantfury

Now with our account balance we come to the biggest part of this guide, which teaches how to place orders within Quantfury on long, short and stop, target and limit order type.

Trading on Quantfury is quite simple; Within each market we will trade with a balance corresponding to our Operating Power, but any profit or loss when closing a position is calculated in the base currency and then in the cryptocurrency of our account at the current market value and is added to or subtracted from our cryptocurrency balance. This means that both profits and losses within Quantfury are exclusively in cryptocurrencies.

To better illustrate this, we have: If we trade a USD/JPY instrument with Japanese Yen as the base currency, any gain or loss is reflected in Yen (JPY) and at the time of closing the position, the final amount is converted to USD (According to the market price), and then into the cryptocurrency of our account.

Open manual operations

A handwork It is a buy or sell order (short or long) of a trading pair without further ado, which we will have to track manually as it will not be closed until we decide.

These orders are executed at the current market price; That is, we cannot choose the price to buy or sell, because only the quantity and the open position are determined. Although it should be noted that the current price at which the order is executed is the one that we will see within the floating button when buying or selling since it is updated every moment, and it is also affected by the size of our position, especially in cryptocurrencies, because the price can vary depending on order book liquidity.

To open an account of this type, we will only have to select the asset to be traded Watchlist or from a browser. In our case, we have chosen the BTC/USD pair. Similarly, the way different markets work within Quantfury is exactly the same, differing only in their availability.

Cryptocurrency markets operate 24/7

Now, to open an operation of this type, we just have to choose Buy (Buy) or Sell (Sell) in the floating buttons that we see at the bottom.

In our case, we chose to buy BTC, so we open a purchase order.

In the case of a sales order, the same variables are processed.

The first thing to do when opening a manual operation is to set the order amount. For that we have a slider that, when moved, changes the amount that defines the amount to buy at the top.

In the same way we have (+) and (-) buttons that allow us to vary the amount in increments of $10.

Another important aspect to consider is that when we put the amount to buy, the trading power decreases, which is shown at the bottom.

With the purchase amount already set, in our case 10 USD, we press the button Buy Open position at the bottom, with the price next to it, to execute the order. This price changes as the market price and our position size changes.

Finally, we confirm the Open Long Position option and that’s it, we’ve opened a buy order.

Manage accounts

When opening an account, if we go back to the main screen, we will see a new window called Positions. In it we can see the different open positions we currently have. There we can see:

  • Name of the instrument.
  • Position size.
  • Total profits or losses expressed in fiat currency. In the picture, they are expressed in Tether, hence the T symbol.
  • The amount of profit or loss expressed, in this case, in BTC.

Increase or decrease the position

After opening a position within Quantfury, we can modify it to take profit, cut losses, close it, or increase its size, among other things.

Something interesting that happens with Quantfury is that as the position size increases, the total value of the position is averaged to know at what point we are losing or making money. For example, if we buy a stock for $100 and it drops to $90, that means we lose 10% of our position. But, if we increased our position by buying another stock for $90, the price at which our overall position would start to generate a profit would be $95. This is because both accounts are grouped into the same position.

Now, to modify the position size, the first thing you need to do is to go to the relevant account, either from the Positions section of the main window or through the Trade History option.

In the picture on the side we have 2 positions as an example. On the left is a long position in BTC and on the right is a short position in ETH. Bear and bull figures characterize each position.

Within each of these positions, we see that there is no variation, however, we see that the labels of the floating buttons are reversed, because in the case of a long position, Sell means to reduce the position (Reduce position) and Buy (Buy ) is to increase (Add position). Otherwise, in a short position, selling increases the position and buying decreases it.

Now, to increase or decrease the position we have to press the corresponding option.

The next step is to set the amount to decrease or increase:

  • In the event of an increase, the maximum amount is limited only by our available workforce.
  • In the case of reduction, we will have the total size of our position, and if we want to close it completely, we just have to set the total available amount by moving the bar completely to the right, which, upon confirmation, shows us the Close position ).

To finish, we just need to press the bottom button, as we did when opening the position, confirm and that’s it.

Place a Stop order

A orders Stop It is a variation of a manual order with an additional attribute, which is that a lower or higher price will be set for it, depending on the order type, which when reached, will liquidate the order and close the position. This is used to cut losses or take profits, because if our position is winning, we can move the stop order to prevent the loss of profits.

Likewise, this type of order is activated, in the case of cryptocurrencies, according to the last price; That is, when it is below the price set in the Stop order and is executed at the best current market price, also taking into account that the final price may be affected by the size of our position.

Within Quantfury, we can place Stop orders at the moment of opening a position or on an already opened position, regardless of the case, the procedure is the same.

In our case, we will open a new position together with a Stop order. To do this, the first thing will be to choose a trading pair, which will be BTC/USD. Then we will choose the amount of the position, but in addition we set the price in the Stop box. This price must be below the current selling price in case of buying and above it in case of selling..

By pricing the Stop order, we will see the approximate loss in case the Stop order is executed at the bottom.

To finish, we click on the bottom button, which in our case is Buy, we confirm and that’s it, we opened a Stop order.

If you want to change the stop price, we just need to return to the position, change it to a Stop order, press Enter on the keyboard and that’s it.

Set a target order

The Order of Target or target, is a manual order, but with an additional attribute similar to a Stop order. Since the target price is set in the Target order and when it is reached the order is liquidated and closed, its use is to take profit from the open position.

Like the Stop order, the target order is triggered based on the last market price and is executed at the current best price. This is only in the case of the cryptocurrency market.

To place an order of this type, as with a Stop order, it can be done from an already open position or at the moment of opening. In our case, we place a Target order on an already open short position.

We must remember that the target order price is set above the market price for long positions and below it for short positions.

Now within the Target Order we set the price of our order and since it is a short position we set it lower than the current price. Then, all we have to do is press Enter when entering the amount and that’s it. We will see how the approximate amount of profit is shown at the bottom.

Order limit

This type of order is very different from the previous orders, because from the inside limit order We can set a buy or sell price, something that does not happen in manual orders, which are executed only when the market price reaches the price of our order. Also, we can use Stop and Target orders within the Limit order.

Another thing to consider is that although a Limit Order is not an immediate execution order, the amount of Operating Power used in it cannot be used to open other orders.

Now, to open an account of this type, we will have to choose a trading instrument or a trading pair. In our case we chose BTC/USD.

To open a Limit order we have two buttons located on each side of the market price represented by a visiting for long positions ia very for short positions, together with the clock.

In our case, we will open a long Limit order, so we will click on the bull icon on the right.

The only information required to enter is:

  • Limit Buy Price: The price at which the order will be opened. In a long position, the price must be below the market price, and for short positions, it must be set above.
  • Amount (Amout): Amount to purchase.

As for the value of the stop order and the target order, they are completely optional and can be set according to the criteria we explained previously.

Now all that remains is to press Confirm, confirm again and that’s it. We have placed a Limit order.

If we want to change or cancel the order, we just open it and click on the corresponding buttons.

Withdraw money from Quantfury

Now it’s time to learn how to withdraw our earnings from Quantfury app. The first thing will be to close all our positions, because otherwise we will not be able to make withdrawals within the application.

In the first case, it is necessary to note the following: he Labor is affected by the amount to be withdrawn, as it depends on our account balance and when it decreases, the level of Operational Power will decrease. For example: if we have a balance of $300 in our account, we will have a workforce of $6,000, but if we withdraw $50, reducing the balance to $250, our workforce will drop to $2,000

If we are below the Operating Power level of $2,000, when requesting a withdrawal, the application will indicate that the withdrawal must be made for all available funds in our account.

The minimum withdrawal amount is $1.

Now, with this cleared up, let’s move on to the retreat. First, we will go to the Account option and there, at the bottom, select the Cryptocurrency Withdrawal option.

Here we will have to move the top bar to indicate the amount to withdraw or use the (+) and (-) buttons.

At the bottom we see the New Trading Power and the Account Balance, which is the amount left after the withdrawal.

To continue, we’ll choose Pull.

Now it will be necessary to enter the destination cryptocurrency wallet address of our account. We can paste this or scan it using the QR code icon we see on the right side of the box.

Now, all you have to do is click on Withdraw to complete the withdrawal and that’s it.

Conclusion

Quantfury makes trading feel comfortable because it integrates exactly what is needed into its simple interface so that both the novice and the professional can trade intuitively within the application.

Another notable point about Quantfury when it comes to business is its guides, because while ordering Quantfury alerts us to prices, profit or loss levels, current or remaining balances, things that are always highly valued considering that no matter how much professionals that we are, we may be missing details that the application is obliged to warn us about.

In conclusion, although Quantfury is not built for technical analysis, complementing it with tools like Trading View makes it an indispensable application for any trader.

Read the first part of this tutorial here, Quantfury: an application that allows you to trade on 5 different marketsor part two here, Learn how to register and use the Quantfury app.

Leave a Reply

Your email address will not be published. Required fields are marked *