The video tutorial teaches how to use the leverage platform on OKEx exchange. After logging in, users need to select the Futures column to take trades. The top left corner is where they choose the token; USDT pair is recommended due to higher liquidity and volume. The Trading View option provides tools for time frames and indicators while the order book and trade history reveal buying and selling trends. The isolated leveraged trade option allows users to select leverage amount while limits and market are used for entry and exit. The exchange wallet is separate from other wallets, and users can deposit and withdraw funds from this wallet.
Using OKEx: A Guide to Trading and Leverage
As cryptocurrency continues to grow in popularity, more and more exchanges are popping up to give traders greater access to a wider range of coins. One of these exchanges is OKEx, which offers a range of features including margin trading. In this guide, we’ll show you how to use OKEx to trade with leverage.
Once you’ve signed into the OKEx platform, click on the Trading section, then go to the Futures column. This will take you to your dashboard, where you can start trading.
Selecting Your Token
The first thing you need to do is select your token. Make sure you’re using the USDT pair, as it has the best volume and liquidity for getting in and out of trades.
The Tokens List
One great feature of OKEx is that you can easily switch between tokens while trading. All the tokens are listed on the side of the dashboard, making it easy to jump from coin to coin to manage your trades.
The charting tool on OKEx is an excellent feature for traders. You can use the trading view option to access a toolbar that offers the same tools that you have on TradingView. You can select different timeframes and add indicators if you want, but it’s best to keep your charts clean for a basic understanding of your trades.
Order Book and Trade History
On the right side of the dashboard, you’ll find the order book, which shows you who is buying and selling the token you’re interested in. You’ll also find trade history, which shows you the recent trades made on the exchange.
Taking a Trade
To take a trade on OKEx, you need to select whether you want to use cross or isolated. We recommend using isolated, as it offers more protection in case of market fluctuations.
Next, you’ll need to select the amount of leverage you want to use. For example, let’s say you want to use 3x leverage on the Matic token.
Selecting the Token
To select the token you want to trade, go to the top left corner of the dashboard and select Matic. Make sure you select the Futures section, as this is where you will find the perpetual contracts.
It’s essential to understand that the Futures wallet on OKEx is separate from any other wallets you have on the exchange. This means that any funds you put into this wallet will not affect your other funds. To put money into this account, click the little arrow icon, which will allow you to either send money into the account or transfer profits back to your spot wallet.
Placing a Short Trade on Matic
Suppose you’ve done some analysis and determined that it’s time to make a short trade on Matic. First, make sure you’re on the four-hour chart and have identified where to place your stop loss.
Place your stop loss below the nearest support level. Once you’ve identified this, put your Wrist reward ratio tool in place and determine your entry point. Then, enter a limit or market order and wait for your trade to fill.
In conclusion, OKEx is an excellent platform for traders looking to trade with leverage. After following this guide, you should be able to navigate the dashboard, select your token, and place your first trade. Always remember to do your research before entering a trade, and never risk more than you can afford to lose.