ok coin-based contract trading tutorial

The benchmark contract is a cryptocurrency contract that uses the platform’s native token as the margin and settlement currency, eliminating the price impact caused by fluctuations in legal currency. To conduct margin contract trading on OK Coin, you need to: 1. Register and deposit money; 2. Go to the contract trading page; 3. Understand the contract interface; 4. Place an order; 5. Manage risks; 6. Close positions. Understand the risks, use leverage with caution, become familiar with funding fees, and practice in a demo account.

OK Coin Margined Contract Trading Tutorial

What is a Margined Contract?

The benchmark contract is a cryptocurrency contract that uses the platform’s native token (such as OKB) as the margin and settlement currency. Unlike traditional fiat-denominated contracts, standard contracts eliminate the price impact of fiat currency fluctuations, allowing traders to focus on the value changes of the cryptocurrency itself.

How to trade futures contracts on OKcoin?

1. Register and deposit

Register an account on the OK Coin official website and complete identity verification. Then transfer OKB or other supported cryptocurrencies to your wallet.

2. Go to the contract trading page

After logging in to your OKcoin account, navigate to the "Contracts" tab. Select "Marked Contracts" and select the contract you want to trade.

3. Understand the contract interface

The contract interface includes the following information:

• Index price: a weighted average that reflects the true value of the underlying cryptocurrency Price
• Tag Price: Based on the index price, taking into account funding charges and contract premium/discount
• Last Price: The price of the contract’s last trade
• Funding Charge: Open Position Fees to be paid or obtained
• Position: Your current position

4. Place an order

Select the one you want to hold Position type (long or short) and enter the amount you want to trade. Adjust leverage (optional) to increase or decrease your potential profit/loss.

5. Manage Risk

Set stop-loss and take-profit orders to limit your losses and lock in your profits. Keep an eye on funding fees to avoid unnecessary position costs.

6. Closing a Position

If you want to close your current position, please place an order opposite to your initial position. After closing your position, your profit or loss will be settled into your wallet in the form of OKB.

Tip:

• Understand the risks of margin contracts and manage your positions wisely.
• Consider using leverage, but do so with caution and only if you understand the potential risks.
• Be familiar with funding fees and incorporate them into your trading strategy.
• Before doing any real trading, please practice in a demo account.

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