First You need to create an account with https://bybitbonus.com
then after Doing That you will see the Home Screen
If you used our link https://bybitbonus.com you can claim up to $600 by following the steps on the bottom left.
Now you can continue to the trading platform by hovering over the text Trade in the top left corner.
We are going to Focus on Inverse Perpetual and for this Example we will click on “BTCUSD”
and then you should see the following.
This is where you will be Opening and closing your trades.
But before we get started we need to understand some basics first.
Lets look at leverage and what it means!
In very simple terms, increased leverage means increased risk. For example, if we open a $1,000 Bitcoin position on Bybit with 10x leverage we will increase our profits by 10 times if the Bitcoin price moves up. However, if the price moves down 10% we will reach our liquidation price.
and now that you understand what leverage does you also need to know what is a liquidation price
liquidation on Bybit is triggered when the Mark Price hits Liquidation Price. This means that the Last Traded Price is not used as a trigger for liquidation. Rather when a position is liquidated; it is used to calculate at which price the position closes
So in other words if you use leverage the higher your Leverage the smaller your Liquidation price is and the greater chance you have of getting stopped out and losing your entire Position Balance.
(keep in mind if you have $2000 in your wallet but only use $1000 to trade with you can only lose $1000 when you are using isolated Leverage)
Now Let’s Change our Leverage. By Default it will be set on Cross or 100x which is very dangerous so lets switch that to 10x or whatever you feel safe with.(I personally use 5-10x depending if I swing or scalp).
So on the top right of your screen you will see this
But by default yours would say Cross and 100X now lets click on the 5.00 X or in your case the 100 X
Now make sure you set it on Isolated and I am going to set my Leverage on 10X and click “Confirm”
Now Before we can do anything else we need to Fund our Account. Hover over your Email address or Phone number on the top right and click on “My Assets”
Now you should see the Assets page
Now you want to send Bitcoin to your Trading Account I’ve already done it.
Click on Deposit on the Bitcoin Section and Send Bitcoin to your BTC address. (Remember to only send BTC to a BTC Address)
After Doing That and you have Received your BTC we can proceed to enter a trade.
Now hover over trade and then Select “BTCUSD”
Now on the exchange page on the right you will see the following
Make Sure to Select Market if you want instant entries
The Difference between Limit and Market Orders
A Limit order needs to be filled so if price is as 50 000 and you want to long you need to place your limit order at 49999.50 or below that and then price needs to fall to your order price in order for it to fill and the opposite for a short position.
A Market order will Fill immediately at 50 000 if you have it set to market orders
So why would you choose limit over market
Limit orders means you don’t pay a fee but it also means getting late entries and orders not filling where at market entries you never miss out on any moves but pay a very small fee.
Now lets say you want to enter a trade and you have 10 x Leverage. You can close your Trade by using a Stop loss or a Take Profit.
so what does that mean.
A Stop Loss (S/L) Is an order type used by traders to trigger the exit of a position when the price goes against them until touching a predefined level. When the price crosses that level, the position is closed automatically by the trading platform to avoid further losses.
A Take-profit (T/P) orders are limit orders that are closed when a specified profit level is reached. Limit prices for T/P orders are placed using either fundamental or technical analysis. This will Close your Position and you will Take Profit.
So Bybit has 2 Options
You can set a TP or SL before placing your Trade or After.
All you need to do is tick the box depending if you are going to open a Long or a Short
So now you need to select QTY first you can use the % bar for quick selections or use a manual entry
Remember if you have $1 000 and you are using 10x leverage you can use QTY of 10 000
and now you can either select if you want a TP or SL or both
Here you would enter the price of the take profit if you are in a long the take profit should be higher then the last price and stop loss lower and Vice Versa for a Short or you can use the % button below for a Quick %
and now select “Buy/Long” or “Sell/Short” Depending on your TA(Technical Analysis) or Indicator.
Now let’s Say you have decided to go “Short/Sell”
you should get the following Confirmation Message
So for this example Trade ill be risking 1 USD
and you will see my Estimate Liquidation Price at 65146.5 this means if price Pumps and touches 65146.5 I lose my entire Position in this case 1USD
And you can also see I did not set a Take Profit or Stop Loss and I have 10 X Leverage now lets “Confirm”
Now at the bottom you will see Positions
Here you will see the Asset you are Trading in this Case BTCUSD and its 10x Isolated Leverage.
and the QTY with 10 x Leverage and that is 1 USD
Then the value in BTC
Then you will see at what Price you entered
You will see your Liquidation Price
and then position Margin is without Leverage
Then your Unrealized PnL is how much you are in a loss or in Profit before the Position is closed or a Stop Loss , Take Profit or Liquidation Price is hit.
Then you will see there is a TP/SL button you can click there to set a TP or SL while in a trade.
And Then if you want to immediately close your trade you can click on “Market”
and confirm the popup menu
This is Only The Beginners Guide to Bybit and we have not discussed everything only things you need to know in order to start Trading.
2021, Crodl - Discord Trading Community - Not Financial Advisors