How to operate the okxe contract?

The gameplay of OKX perpetual contract includes: 1. Preparation: Register and complete KYC certification, learn basic knowledge, and recharge margin. 2. Trading operations: Select a trading pair, set a leverage multiple, open a position (buy long or sell short), position management (focus on price fluctuations, set a stop-profit and stop loss, adjust margin and position), and close the position. 3. Risk control: Understand risks, control positions reasonably, and continue to learn and analyze.

OKX (formerly OKEx) exchange entrance:

OKX (formerly OKEx) Exchange APP:

The gameplay of the OKX (formerly OKEx) exchange perpetual contract is as follows:

Preparation

1. Registration and Certification : Complete registration on the OKX official website and perform identity authentication as required, usually including the KYC (Know Your Customer) process to improve account security and transaction permissions.
2. Learn basic knowledge : Understand the basic concepts of perpetual contracts, such as leverage, margin, opening, closing, and liquidation; master relevant knowledge of the virtual currency market, including price fluctuations characteristics, market trend analysis, etc.
3. Funding preparation : Recharge a certain amount of digital currency or stablecoin (such as USDT) into the contract trading account of the OKX account as margin for the transaction.

Trading operations

1. Choose a trading pair : OKX perpetual contract has a variety of trading pairs, such as BTC/USDT, ETH/USDT, etc. According to your own judgment and analysis of the market, choose the trading pairs you are interested in for trading.
2. Set leverage multiple : Choose the appropriate leverage multiple based on your own risk tolerance and trading strategy. OKX perpetual contracts have a higher leverage multiple, up to 125 times, but high leverage is also accompanied by high risks. It is generally recommended that novices start from a lower leverage multiple, such as 5 times, 10 times, etc.
3. Opening a position :
   • Buy and open long (go long) : If the price of the underlying virtual currency is expected to rise, you can choose to buy and open long. That is, buy a certain amount of perpetual contracts based on the current market price. When the price rises, sell the contract to close the position and earn the difference income.
   • Sell ​​short (short) : If you believe that the price of the underlying virtual currency will fall, then sell short operation. That is, first borrow a certain amount of contract and sell it. After the price falls, then buy the contract at a lower price and return it to obtain profits.
   • Set the entrustment price : You can choose market entrustment or limit entrustment. Market price entrustment is to be sold immediately at the current market optimal price; price limit entrustment is to set a specific price that will only be sold when the market price reaches or is better than that price.
4. Position management :
   • Pay attention to price fluctuations : After opening a position, pay close attention to the price changes of the underlying virtual currency. Since perpetual contracts use leveraged trading, slight price fluctuations will have a significant impact on account equity.
   • Setting a stop-profit stop loss : In order to control risks and lock in profits, you can set a stop-profit stop-loss order. Take-profit orders are automatically closed when the price reaches the expected profit target; stop-loss orders are automatically closed when the price fluctuates in an unfavorable direction and reach the set stop-loss price to avoid greater losses.
   • Adjust margin and position : Adjust margin ratio or position size in a timely manner according to market conditions and account funding conditions. If the price trend is unfavorable, resulting in insufficient margin, you may face the risk of a liquidated position. At this time, you need to add margin or reduce your position in time; if the market conditions are favorable, consider appropriately increasing margin to expand the scale of your position and obtain more profits.
5. Close position operation : When the expected profit target is reached or the stop loss is required, close the position operation. The closing method is similar to opening a position. Select the corresponding buy closing position (for selling short positions) or sell closing position (for buying long positions) operations, and trade the held contract in reverse to end the current position state and realize profit or stop loss.

Risk control

1. Understand risks : Fully recognize the high risks of perpetual contract trading, including market risks, leverage risks, technical risks, etc. Price fluctuations may lead to rapid increase and decrease in account funds, and in extreme cases, it may cause all margins to be lost, and it may also owe exchange funds.
2. Reasonable control of positions : Do not over-leverage or full position operation. It is recommended to control positions within a certain range based on your risk tolerance to avoid huge losses due to a trading mistake.
3. Continuous learning and analysis : Continuously learn and accumulate trading experience, pay attention to information such as the dynamics of the virtual currency market, changes in policies and regulations, and industry development trends, and use technical analysis and fundamental analysis to improve your trading decision-making ability.

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