Dubai OKX contract tutorial

To commence contract trading on OKX, users create an account, fund it via various payment options, select their preferred contract type and trading pair, set contract parameters, and monitor positions through the dedicated "Positions" tab.

Oct 18, 2024 at 01:29 am

Dubai OKX Contract Tutorial

Step 1: Open an OKX Account

• Visit the OKX website and click "Sign Up."
• Enter your email address or mobile number and create a password.
• Complete the KYC (Know Your Customer) verification process.

Step 2: Fund Your Account

• Log in to your OKX account and click "Deposit."
• Select a payment method (e.g., credit card, wire transfer) and enter the amount you wish to deposit.
• Follow the instructions provided by OKX to complete the transaction.

Step 3: Open a Contract Position

• Navigate to the "Contracts" section on the OKX website.
• Select the contract type you wish to trade (e.g., Perpetual Swap, Futures).
• Choose the trading pair (e.g., BTC/USDT).
• Enter the contract price, quantity, and leverage (optional).
• Click "Buy" or "Sell" to open the contract position.

Step 4: Manage Your Position

• Once you have opened a contract position, you can monitor its performance in the "Positions" tab.
• You can modify the stop-loss and take-profit orders to manage risk.
• Close the contract position by clicking "Close Position" when desired.

Step 5: Withdraw Your Earnings

• After closing a contract position with a profit, you can withdraw your earnings.
• Navigate to the "Accounts" section and click "Withdraw."
• Select the withdrawal method and enter the amount you wish to withdraw.
• Follow the instructions provided by OKX to complete the transaction.

Tips for Contract Trading:

• Understand the risks involved in contract trading.
• Only trade with capital that you can afford to lose.
• Use stop-loss and take-profit orders to manage risk.
• Monitor your positions regularly.
• Consider using leverage cautiously.
• Seek professional advice if needed.