Market Cap: $3.0967T -6.850%
Volume(24h): $333.4499B 179.460%
Fear & Greed Index:

47 - Neutral

  • Market Cap: $3.0967T -6.850%
  • Volume(24h): $333.4499B 179.460%
  • Fear & Greed Index:
  • Market Cap: $3.0967T -6.850%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top Cryptospedia

Select Language

Select Language

Select Currency

Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos

How to set stop profit in Dubai OKX contract

Traders in Dubai can protect their profits and minimize losses through setting stop profit in their OKX contract, thereby ensuring proper risk management in volatile market conditions.

Oct 21, 2024 at 10:05 am

How to Set Stop Profit in Dubai OKX Contract

Setting stop profit in Dubai OKX contract is a crucial risk management strategy that helps traders protect their profits and minimize losses. Here's a step-by-step guide on how to set stop profit in OKX contract:

  1. Login to your OKX account: Visit OKX's website and log in to your account using your credentials.
  2. Navigate to the Contract Trading Platform: Click on "Contracts" from the top menu to access the Contract Trading Platform.
  3. Select the Contract: On the Contract Trading Platform, select the perpetual contract for which you want to set stop profit (e.g., BTCUSDT).
  4. Enter Order Details: In the Order Form, enter the following details:

    • Position: Select "Long" or "Short" based on your trade direction.
    • Quantity: Specify the number of contracts you want to trade.
    • TP (Trigger Price): Enter the price at which you want to take profit.
    • TP Plan: Choose "Reduce Only" if you want to reduce your position while placing a stop profit order; "Close Only" if you want to close your entire position upon hitting the stop profit price.
  5. Confirm the Order: Review the order details carefully and click on "Place Order" to execute the stop profit order.

Once your stop profit order is active, it will remain in place until either:

  • The trigger price is reached: At this point, your stop profit order will be executed, taking profit based on the TP Plan you selected.
  • You cancel the order: You can cancel your stop profit order at any time before it is executed.

Example:

Suppose you have a long position of 5 BTCUSDT contracts with an entry price of $20,000. You want to set a stop profit order to take profit if the price reaches $22,000. Follow these steps:

  1. Select "Long" position, enter "5" in the Quantity field, and specify "22000" as the TP (Trigger Price).
  2. Choose "Reduce Only" for the TP Plan if you want to partially take profit and keep the remaining position open.
  3. Click on "Place Order" to execute the stop profit order.

Now, if the price of BTCUSDT rises to $22,000, your stop profit order will be triggered, taking profit on a portion or all of your position as per the TP Plan you selected.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Related knowledge

How to view the market value ranking on Binance

How to view the market value ranking on Binance

Feb 03,2025 at 09:42am

Key PointsBinance is one of the leading cryptocurrency exchanges in the world.Binance provides a variety of features, including the ability to view the market value ranking of cryptocurrencies.The market value ranking is a list of cryptocurrencies, sorted by their total market capitalization.The market capitalization of a cryptocurrency is calculated by...

How to trade after recharging on Binance

How to trade after recharging on Binance

Feb 03,2025 at 09:36pm

Key PointsUnderstand the Binance platform and its features.Fund your Binance account through various methods.Choose the right trading pair and order type.Monitor your trades and adjust your strategy as needed.Explore advanced trading options for increased efficiency.Detailed Guide on How to Trade After Recharging on Binance1. Understanding the Binance P...

How to recharge Binance with QR code

How to recharge Binance with QR code

Feb 03,2025 at 10:36pm

Key Points:Utilize Binance's QR code for a seamless recharge experienceUnderstand the process of generating a QR code for Binance depositsIdentify various methods for recharging Binance through QR codesExplore the advantages and security aspects of using QR codes for Binance rechargesComprehensive Guide to Recharging Binance with QR CodeStep 1: Generati...

How to buy coins and withdraw from Binance app

How to buy coins and withdraw from Binance app

Feb 03,2025 at 08:25pm

Key Points:Choose a reputable cryptocurrency exchange like Binance.Open an account and verify your identity.Fund your account using a bank transfer, credit/debit card, or other supported methods.Find the coin you want to buy and select the "Buy" option.Choose your order type and enter the desired amount.Review and confirm your order.Store your coins in ...

How to open Binance 100x contract

How to open Binance 100x contract

Feb 02,2025 at 08:24pm

How to Open Binance 100x ContractKey Points:What is a Binance 100x contract?Requirements for opening a Binance 100x contractStep-by-step guide to opening a Binance 100x contractManaging your Binance 100x contractFrequently asked questions (FAQs)IntroductionA Binance 100x contract is a futures contract offered by Binance, a leading cryptocurrency exchang...

How to sell Binance spot

How to sell Binance spot

Feb 03,2025 at 12:24am

Key PointsBinance spot trading is a method of buying and selling cryptocurrencies on the Binance exchange. It is a simple and convenient way to trade cryptocurrencies, and it is suitable for both beginners and experienced traders.To sell Binance spot, you will need to create a Binance account and deposit funds into your account. You can then place a sel...

How to view the market value ranking on Binance

How to view the market value ranking on Binance

Feb 03,2025 at 09:42am

Key PointsBinance is one of the leading cryptocurrency exchanges in the world.Binance provides a variety of features, including the ability to view the market value ranking of cryptocurrencies.The market value ranking is a list of cryptocurrencies, sorted by their total market capitalization.The market capitalization of a cryptocurrency is calculated by...

How to trade after recharging on Binance

How to trade after recharging on Binance

Feb 03,2025 at 09:36pm

Key PointsUnderstand the Binance platform and its features.Fund your Binance account through various methods.Choose the right trading pair and order type.Monitor your trades and adjust your strategy as needed.Explore advanced trading options for increased efficiency.Detailed Guide on How to Trade After Recharging on Binance1. Understanding the Binance P...

How to recharge Binance with QR code

How to recharge Binance with QR code

Feb 03,2025 at 10:36pm

Key Points:Utilize Binance's QR code for a seamless recharge experienceUnderstand the process of generating a QR code for Binance depositsIdentify various methods for recharging Binance through QR codesExplore the advantages and security aspects of using QR codes for Binance rechargesComprehensive Guide to Recharging Binance with QR CodeStep 1: Generati...

How to buy coins and withdraw from Binance app

How to buy coins and withdraw from Binance app

Feb 03,2025 at 08:25pm

Key Points:Choose a reputable cryptocurrency exchange like Binance.Open an account and verify your identity.Fund your account using a bank transfer, credit/debit card, or other supported methods.Find the coin you want to buy and select the "Buy" option.Choose your order type and enter the desired amount.Review and confirm your order.Store your coins in ...

How to open Binance 100x contract

How to open Binance 100x contract

Feb 02,2025 at 08:24pm

How to Open Binance 100x ContractKey Points:What is a Binance 100x contract?Requirements for opening a Binance 100x contractStep-by-step guide to opening a Binance 100x contractManaging your Binance 100x contractFrequently asked questions (FAQs)IntroductionA Binance 100x contract is a futures contract offered by Binance, a leading cryptocurrency exchang...

How to sell Binance spot

How to sell Binance spot

Feb 03,2025 at 12:24am

Key PointsBinance spot trading is a method of buying and selling cryptocurrencies on the Binance exchange. It is a simple and convenient way to trade cryptocurrencies, and it is suitable for both beginners and experienced traders.To sell Binance spot, you will need to create a Binance account and deposit funds into your account. You can then place a sel...

See all articles

User not found or password invalid

Your input is correct