How to buy contracts for short selling in Dubai OKX

To short sell contracts on OKX in Dubai, create an account, fund it, enable futures trading, select a trading pair, open a short position, close it when desired, and calculate profit or loss based on asset price fluctuations.

Oct 21, 2024 at 01:12 pm

How to Short Sell Contracts on OKX in Dubai

1. Create an OKX Account

• Visit the OKX website and create an account. Verify your identity and complete the KYC process.

2. Fund Your Account

• Transfer funds to your OKX account using a credit/debit card, bank transfer, or cryptocurrencies.

3. Enable Futures Trading

• Go to the "Futures" tab and enable Futures Trading.

4. Choose a Trading Pair

• Select the trading pair you want to short sell from the available options. For example, BTC/USDT.

5. Open a Short Position

• Go to the "Short" tab. Select the desired leverage and enter the number of contracts you want to sell short. Click "Short" to open the position.

6. Close the Short Position

• You can close the short position at any time by selecting "Close" in the "Open Positions" tab.

7. Calculate Profit or Loss

• If the price of the underlying asset falls, you will profit from your short position. If the price rises, you will incur a loss.

Additional Tips

• Use leverage with caution, as it can amplify both profits and losses.
• Set stop-loss orders to minimize potential losses.
• Monitor the market closely and adjust your positions accordingly.