How do I effectively execute a trade with precision?

Published on 21 June 2024Updated on 9 Dec 20245 min read13

We offer several compelling features to enhance your trading experience and facilitate trading on the go. They're as below:

Go Fullscreen charting mode on your app

Enable Fullscreen mode to avoid restricted views when charting on the app.

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Easily switch to Fullscreen mode of the chart in several simple moves

You can either

  • Select the expansion button on the chart; or

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Maximize the trading chart by selecting the enlarged option

  • Double tap on the screen.

Zoom in on your chart

Enhance your chart navigation and candle viewing with the adjustable y-axis scale. This feature allows you to pinch the y-axis on the chart to zoom in, enabling you to make more precise trades. By providing a more detailed view, it instills confidence in your trading decisions, making your trading experience more rewarding.

Fully utilize the available Indicators and Tools on platform

We offer several advanced trading tools such as Futures trading that allow you to trade contracts that represent the value of a specific cryptocurrency at a future date, Options trading that provides the opportunity to buy or sell an asset at a predetermined price before a specific date and Margin trading that enables you to trade with borrowed funds, amplifying potential profits (and losses). You can use these tools effectively:

  • Understand mechanics: learn how each tool works and the associated risks.

  • Start small: begin with a small position to get comfortable with the tool.

  • Monitor closely: keep a close eye on your positions, as advanced trading can be highly volatile.

Explore our comprehensive range of indicators and tools to identify key resistance and support levels. Learn more about it here.

Manage your trading risk with TP/SL

Take profit (TP) and stop loss (SL) are crucial elements in trading strategy. Be sure to set and adjust your profit targets and stop loss levels as needed. What's Take Profit (TP) and Stop Loss (SL)?

  • Take Profit (TP): a pre-set order that automatically closes your trade when the price reaches a certain profit level. This helps you lock in gains without having to monitor the market constantly.

  • Stop Loss (SL): a pre-set order that automatically closes your trade to prevent further losses if the price moves against you. It helps protect your capital by limiting potential losses.

Learn more on how to place TP and SL here or how you can modify TP and SL on our platform here.

Drag and set your TP/SL with the Order line

Easily set order-level TP/SL using the order line. Simply drag the TP or SL switch to your desired price level to modify the order. The estimated profit and loss for the TP or SL will be clearly displayed on the TP/SL line.

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Toggle the options of TP/SL to your desired price level

Learn how you can set up and manage stop-loss and take-profit orders with the order line here.

Always keep a trading journal

Track your trades with our future analysis tool. Discover how you can use it here.

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Monitor your trading effortlessly with our future analysis tool

The frequency of monitoring your trades depends on your trading strategy:

  • Day traders: check your trades frequently, possibly every few minutes or hours.

  • Swing traders: monitor your trades daily or every few days.

  • Long-Term investors: review your trades weekly or monthly.

FAQ

How do I access the trading interface?

  • Web: log in to your OKX account and select Trade in the main menu.

  • App: open your OKX app and select Trade from the main menu.

What's the minimum amount required to start trading?

The minimum amount varies depending on the cryptocurrency you're trading. Check our minimum trade requirements for specific details.

Can I use bots or automated trading?

Yes, we support the use of trading bots and automated strategies. You can integrate them via API to automate your trading based on predefined rules.

What should I do if I encounter issues while trading?

If you face any issues while trading on our platform, reach out to our chatbot via the Support Center for assistance. You can also access our extensive Help Center for FAQs and guides.

Disclaimer
This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.

© 2024 OKX. This article may be reproduced or distributed in its entirety, or excerpts of 100 words or less of this article may be used, provided such use is non-commercial. Any reproduction or distribution of the entire article must also prominently state: “This article is © 2024 OKX and is used with permission.” Permitted excerpts must cite to the name of the article and include attribution, for example “Article Name, [author name if applicable], © 2024 OKX.” No derivative works or other uses of this article are permitted.