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How to trade okex contracts

PHPz

Release： 2024-07-02 11:26:57

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Steps to trade contracts on OKEx: Create an account and complete KYC. Fund your account. Select the contract type (perpetual contract or delivery contract). Learn contract basics and develop a trading strategy.

How to trade okex contracts

OKEx Contracts Trading Guide

How to start OKEx Contracts trading?

OKEx contract trading requires the following steps:

Create an OKEx account.
Verify your identity (KYC).
Add funds to your account.
Select the contract type (perpetual contract, delivery contract).
Learn the basics and develop a trading strategy.

What is the contract?

A contract is a type of financial derivative that allows traders to speculate on the price of an asset without owning the underlying asset. Contract trading can achieve leveraged operations, amplifying potential gains or losses.

OKEx Perpetual Contracts and Delivery Contracts

Perpetual Contracts: Never expires and can be held without limit.
Delivery Contract: Expires on a specific date, and traders must close their position or deliver the underlying asset before expiration.

OKEx contract trading steps

Select the contract type: perpetual contract or delivery contract.
Choose the underlying asset: BTC, ETH, etc.
Open a position: Buy (long) or sell (short) a contract.
Manage positions: Monitor positions and adjust stop loss and take profit.
Close: Exit a position to realize profits or stop losses.

Trading Strategy

Trend Trading: Trade following the price trend.
Reversal Trading: Trade when the price trend reverses.
Range Trading: Trade within a range of price fluctuations.

Risk Management

Contract trading involves high risks and the following measures are crucial:

Understand leverage risks: Leverage can magnify gains and losses.
Set Stop Loss: Limit losses.
Avoid Overtrading: Only trade what you can afford to lose.
Emotional Trading: Stay calm and disciplined.

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