What is OKX pre-market trading? Teaching of the advantages and operation steps of OKX pre-market trading

Catalog

• Why use pre-market trading? Solutions that cannot be obtained for the first launch
• What is the pre-market trading of OKX?
• What are the advantages of OKX pre-market trading?
• OKX How to operate pre-market trading?
• Step 1: Open OKX App
• Step 2: Select the middle pre-market trading
• Step 3: Select the currency you want to trade
• Step 4: Transaction
• Conclusion

If you want to make money in the virtual currency market, the most important thing is to seize the right opportunity. You don’t have to worry about not being able to follow the new currency or hot spots. The pre-market trading function of the OKX platform allows you to get a slot in advance without worrying about missing a good price.

This article will teach you to understand pre-market trading, understand its benefits, and actually operate it, so that you can easily grasp the market opportunities.

Why use pre-market trading? Solutions that cannot be obtained for the first placement

In the cryptocurrency market, first-time issuance (IEO) projects are always particularly attractive because the initial price is usually much cheaper than after listing.

But there is one problem with starting players, that is, the quota is limited, and the competition is fierce, and the threshold is relatively high.

Just grab tickets to Jay Chou’s concert, many people want to buy them at the lowest price, but they often cannot get them because there are too many people.

And even if you grab it, the number is often very small.

The second point is that the opening transaction time is usually the result, the horse is super high and the horse is super low.

Investors are like "waiting for the rabbit" and must stay in front of the screen to buy and sell. If they buy high or low, they can only sigh.

Pre-market trading refers to a mechanism in which investors can conduct trading operations before the official trading period begins.

This function allows investors to trade in advance before formally opening a sale, just as if you are actually trading the target.

More reading: What is IEO? How to participate? Detailed explanation of risks and the possibility of participating in the exchange!

What is the pre-market trading of OKX?

OKX Pre-market trading is a currency that allows OKX users to pre-trade.

Because you are trading in a currency that has not been traded on the open market, you cannot buy this currency.

The alternative is that the entire transaction process is carried out through a USDT-based delivery contract.

Trading can be conducted after the token is listed to the pre-market trading list, and finally "settlement" will be conducted about three hours after the new currency is actually launched.

Because at this time it is not a pre-market trading, it will be converted into spot trading.

What are the advantages of OKX pre-market trading?

First of all, you can know the transaction information in advance and don’t worry about missing the opportunity.

Through the OKX platform, the above records which currencies are about to be opened for trading, so you can have enough time to prepare and not be caught off guard.

First, there is a fair opportunity to participate, and you don’t have to steal the blame.

Pre-market trading adopts a fairer mechanism, not to compare who can make it faster, but to give every investor a reasonable opportunity to participate.

Just like ordinary spot trading, as long as you set trading conditions in advance, you can execute the transaction, and you will stand at the same starting point as ordinary investors.

In addition to the different strengths of the buying and selling orders, this price fluctuation will gradually reach the expected price due to the arrival of the official opening. You can avoid suddenly buying high or selling low during the official opening transaction.

For example, when a new GameFi token is about to be launched, the traditional way may be to stay in front of the computer and wait for the opening, and it is often bought at super high points because too many people rush to buy it at the same time.

But with OKX pre-market trading, you can buy his current expected price in advance and settle the profit before his official price arrives, without having to hold on to the front of the phone with a bunch of people.

Finally, it is the issue about liquidity.

OKX is currently one of the top exchanges. It has very high liquidity and many people trade.

The pre-market transactions they provide are relatively many people involved, so you don’t have to worry about not being able to sell them after buying them, and you don’t have to worry about the price difference being too large.

OKX How to operate pre-market trading?

Next, let me introduce to you the tutorial on the operation steps of OKX pre-market trading.

The entire OKX pre-market trading operation process has the following four steps:

• Open OKX App
• Click to select the pre-market trading in the transaction
• Select the currency you want to operate
• Trading

Step 1: Open OKX App

First, to use OKX App (official download) you must first have an OKX account. You can click the button below to apply, refer to the following article to complete OKX account establishment and KYC certification

OKX Account Application KYC Identity verification teaching

• Next, you need to have USDT to operate the pre-market trading function.

If you are a novice user, you can first exchange fiat currency for USDT, the largest and most common US dollar stablecoin in the currency circle.

Second step: select the middle pre-market trading

The second step is to select the "Trade" in the middle at the bottom of the App homepage, and click "Pre-market trading".

Step 3: Select the currency you want to trade

And again, you will see the currency that can be traded in OKX pre-market trading.

The following picture is as an example. You can see that the currency currently open for trading is HYPE, which will contain its brief introduction, transaction price, transaction volume, social website and official website.

If you are interested in this currency, you can click the links in it yourself to check out their white paper and vision, as well as the track they want to focus on now.

Step 4: Transaction

When you have selected the currency, you will directly enter the trading screen of this currency.

The entire transaction is a contract trading method, but you can only choose "position by position".

In the position-by-position mode, the margin between each position is independent of each other, and profits and losses are calculated separately.

When a single position loses a large loss, it will only lose the margin of that position and other positions will not be implicated.

Even if the profit of your other positions is greater than the loss of the position, the system will not automatically replenish margin from the funds in other positions, so the position may enter a forced closing state faster.

However, compared with the full position model, the advantage of the position-by-position model is that other positions will not be affected, which can effectively avoid the risk of the loss of a single position to expand to the entire account.

• Advantages: The risks of each position can be controlled accurately, especially in high leverage or short-term trading. The maximum loss is limited to the margin of a certain position, and the overall risk is relatively controllable.
• Disadvantages: Since the margin and profit and loss of each position are to be independently managed, the capital utilization rate is low.

The transaction method for ordering can be selected, such as "price limit entrustment", "market entrustment", etc.

"Market Price Entrustment" As the name suggests, it will be automatically sold directly at the current market price.

You just need to select the market order in the order screen and fill in the transaction quantity.

• Advantages: Orders will definitely be completed, so don’t be afraid of not being able to buy (sell).
• Disadvantages: But the transaction price depends on the current decision to place orders in the market, which may not necessarily meet your expectations.

This kind of ordering method is more suitable for those who want to buy and sell quickly at the moment, but it should be noted that the handling fee for market transactions will usually be higher!

"Price Limit Entrustment" can set the price you want to make a transaction by yourself. When the market price reaches that price, the commission order will be automatically sold.

For example: a certain cryptocurrency is now 1 USD. If you place a limit order at USD 0.8, then as long as the market price falls to USD 0.8, this order will be traded, but if it rises all the way, your order will not be traded.

• Advantages: Orders can be sold at your expected price.
• Disadvantages: There may be situations where transactions cannot be completed.

Conclusion

Using pre-market trading can help us participate in the virtual currency market more resiliently, and then trade some coins that have not been listed and have been sold.

But in contrast, its price fluctuates significantly, especially before and after the opening.

If you want to do this operation function today, you must first understand its entire function before trying it, and the amount of money you can pay at one time should not be too large.

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