How to set a stop loss on OKX contracts

To set a stop loss on OKX Contracts, navigate to the specific contract market, fund your margin account, enter a position, open the order menu, set the stop loss price, adjust the stop loss distance and position reduction percentage if desired, and confirm your order.

Nov 07, 2024 at 02:00 am

How to Set a Stop Loss on OKX Contracts

Stop-loss orders are an essential risk management tool for any trader, and OKX makes it easy to set them up on your contracts. Here's a step-by-step guide:

1. Open the OKX Website or Mobile App:

Go to the OKX website or app and log in to your account.

2. Select the Contract Market:

Hover over "Derivatives" in the top menu and select the contract market you want to trade in, such as "Perpetuals" or "Futures".

3. Choose a Contract:

Click on the specific contract you want to trade, such as "BTC-USD Perpetual".

4. Fund Your Margin Account:

Ensure you have sufficient funds in your margin account to cover the contract's margin requirements.

5. Enter a Position:

• Limit Order: Specify the price and quantity of the contract you want to buy or sell.
• Market Order: Execute an order at the current market price.

6. Open the Order Menu:

Click on "Limit" or "Market" at the bottom of the trading interface to open the order menu.

7. Set the Stop Loss Price:

In the "TP/SL" section, enter the price at which you want your stop loss to trigger. When the market price reaches this level, your position will be automatically closed to limit your losses.

8. Adjust the Stop Loss Distance (Optional):

You can adjust the distance between the entry price and the stop loss price by dragging the "SL" slider.

9. Set the Position Reduction Percentage (Optional):

Indicate the percentage of your position you want to close when the stop loss is triggered. This allows you to partially exit your position while managing your risk.

10. Confirm Your Stop Loss:

Review the details of your stop-loss order and click "Confirm" to place it.

Note: You can modify or cancel your stop-loss order anytime before it is triggered.