Exchanges, Trading Accounts and Trading Markets
You need to connect to the exchange's API key when using HXR Trade.Each API key we connect corresponds to an [Exchange] account. When connecting, a note will be added to each API key, a note will be added to each API key, and the note will be used instead of the exchange account in subsequent transactions for the convenience of distinguishing.
Each exchange usually has multiple accounts, because exchanges currently provide a variety of services, such as spot trading,margin trading, future trading, and financial management.Exchanges need to divide different accounts to serve different businesses, and each account will have assets. To calculate the total assets of an exchange, the assets in all accounts need to be added up.
In HXR Trade, we call the different accounts divided by the exchange as [trading accounts].
Each trading account usually corresponds to one or more [trading markets]. The trading market here is what we usually call the spot market, the margin market and the future market.
HXR Trade is currently in a very early stage. After connecting to the exchange, you may find that the assets counted are less than what the exchange actually owns, which is normal.
Take Binance as an example: the assets counted by HXR Trade only include U-based account assets. Assets such as spot accounts, margin accounts, and currency-margined accounts are not counted
HXR Trade will gradually support more exchanges, trading accounts and trading markets. The following are the exchanges, trading accounts and trading markets currently supported by HXR Trade.
Base coin、 Quote coin 、Settle coin
- Base coin：Usually in digital coin, BTC and ETH are common base coin. The price change of the trading base coin will generate profit and loss
- Quote coin：Mainly in USD and USDT. Used to price the base coin
- Settle coin：That is, the margin coin, which is used for the profit and loss settlement of the trading. For future trading market only
Trading Pair Naming
Trading pair naming is a combination of base coin, quote coin, settlement coin and connectors. The trading pair naming mainly includes three categories:
- Spot market and margin market：base coin+「/」+ quote coin，such as BTC/USD
- Perpetual future market：base coin +「-」+「 PERP」+ 「/」+settlement coin，such as BTC-PERP/USD
- Delivery future market：base coin +「-」+「delivery date」+ 「/」+settlement coin，如 BTC-0625/BTC
After the specification is formed, we can intuitively judge which trading market the trading pair belongs to based on the trading pair name.
Long And Short
- When going long, buy the base coin, you will make a profit when the price rises, and you will lose when the price falls
- When going short, sell the base coin, you will make a profit when the price falls, and you will lose when the price rises
You can directly go short in margin market and future market. But if you want to go short in the spot market, you need to own the asset you want to trade first (for example, if you want to short the BTC/USDT trading pair in the spot market, you need to own BTC first). Profit by selling at a high price first and then buying back at a low price.
Earn Quote Coin and Earn Base Coin
Commonly known as "earn U or earn coins":
- earn quote coin（earn U）：Equal volume of long and short trades
- earn base coin（earn coins）：Equal amount of long and short trades
Taking the spot market BTC/USDT trading pair as an example, when we trade:
- earn USDT：Buy 1 BTC at $10,000. Sell 1 BTC at $12,000. At this point we make a profit of $2,000
- earn BTC：Buy $10,000 BTC at $10,000, you got 10,000/10,000 = 1 BTC. Sell $10,000 worth of BTC at $12,000, selling 10,000/12,000=0.83 BTC. At this point we are profitable 1-0.83 = 0.17 BTC
Tips for getting rich: Bull market earns U, bear market earns coins
Common Trading Price
|Average opening price||Avg. open||Average price of the position|
|Breakeven price||Breakeven||When the market price reaches this price, the profit and loss of the position is 0|
|Take profit price||TP||When the market price reaches this price, the position will be closed by take profit|
|Stop loss price||SL||When the market price reaches this price, the position will be closed by stop loss|
|Average open price||Avg. open||Average open price of total position|
|Liquidation price||LP||When the market price reaches this price, the position will be liquidate|
|Best ask||Best ask||The lowest sell price|
|Best bid||Best bid||The highest bid price|
|Last||Last||The latest trading price in the market|
|Queue price||Queue||Buy at best bid or sell at best ask|
|Opposite price||Opposite||Sell at best bid or buy at best ask|