Answers For How to Trade Perpetual Contracts on Phemex Quiz
Phemex is a crypto exchange founded in 2019 and become one of the most popular crypto exchanges in recent months. It is expected to see more growth of Phemex as stable exchanges like FTX are losing trust.
There are different quiz that includes a number of lessons. In this article, you will find answers to “How to Trade Perpetual Contracts on Phemex? Quiz”
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Phemex Learn & Earn Answers: How to Trade Perpetual Contracts on Phemex Answers
This quiz has 3 lessons which contain 15 questions in total.
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Lesson 1. How to Open a Position
Q1: Are limit, market, and conditional orders available with contract trading as they are for spot trading?
Q2: A Coin-Margined contract means that you will be using USD as your margin for positions, and your profits will also be paid in USD.
Q3: If you close a BTC-margined perpetual contract in profit, your profit will be paid in
Q4: The Estimated Liquidation Price is:
Answer: The estimated price at which you would lose all of the margin allocated to a position
Q5: The final confirmation pop-up window also allows you to set Take Profit and Stop Loss orders.
Q6: Once your order fills, you can view your positions under the ___ ___ tab.
Answer: open, positions
Lesson 2. How to Set or Adjust Leverage
Q1: When can Leverage be set or adjusted?
Answer: Both while placing an order or after a position is open.
Q2: The default leverage or margin mode is:
Answer: Cross Margin
Q3: When using Isolated Margin, what are two ways you can set a leverage value? (Select all correct answers)
Answer: Use the Leverage slider, D. Edit the number above the leverage slider
Q4: Once you have opened a position with the default Cross Margin setting, you will no longer be able to adjust leverage.
Lesson 3. How to Adjust Margin
Q1: To add margin to an isolated margin position, you must click on the figures under the column.
Q2: The pop-up window that allows you to adjust margin defaults to the Add option first.
Q3: If you add margin to an open isolated position, you can
Answer: Remove the added margin from the same pop-up window
Q4: Will adding margin to you isolated position change it’s leverage?
Q5: With Cross Margin mode, adding margin involves:
Answer: Transferring funds into the appropriate Contract Trading Account