How to set stop loss on Dubai OKX

To set a stop-loss order on Dubai OKX, navigate to the "Order" page, select "Limit Order," enter your order details, and configure the stop-loss price and amount before reviewing and confirming the order.

Oct 20, 2024 at 08:18 am

How to Set Stop Loss on Dubai OKX

1. Go to the 'Order' page.

   • On the OKX homepage, go to the 'Market' tab and select your preferred trading pair.
   • Click on the 'Trade' button to open the order form.

2. Select 'Limit Order'.

   • Choose the 'Limit Order' tab from the three options (Limit, Market, and Stop Limit).

3. Enter the Order Details.

   • Specify the amount you want to trade under 'Qty'.
   • Enter the price at which you want to sell your order under 'Price'. This price should be lower than the current market price if you want to sell at a loss.
   • Click on the 'Set stop loss' checkbox located just below the price field.

4. Configure the Stop Loss.

   • Enter the price at which you want to 'Trigger' the stop loss. This price should be lower than the price you entered in the 'Price' field.
   • Choose the amount or percentage of your order that you want to sell under 'Stop Loss'.

5. Review and Confirm.

   • Verify the entered parameters, including the order amount, price, stop loss trigger price, and stop loss amount.
   • Click on the 'Buy' or 'Sell' button to place the order.

Example:

Let's say you want to place a limit order to sell 1 BTC at $20,000 with a stop-loss triggered at $19,000 for 50% of the order.

1. Go to the 'Order' page for the BTC/USDT pair on OKX.
2. Select 'Limit Order'.

3. Enter the details:

   • Qty: 1 BTC
   • Price: $20,000
   • Set stop loss: checkbox ticked

4. Configure the Stop Loss:

   • Trigger: $19,000
   • Stop Loss: 50%
5. Review and confirm the order and click 'Sell'.

Important Notes:

• Stop loss orders are executed based on market conditions. They may not always be filled at the exact price you specify.
• Monitor your stop loss orders regularly and adjust them if needed based on market fluctuations.
• Use stop loss orders judiciously as they can limit potential profits if the market moves in your favor.