How do I close lead trades with a limit order and custom amount?
What's the background?
We've enhanced our copy trading system, ensuring that the experience of leading trades aligns with manual trading experience. With the upgrade, lead traders can use limit orders and custom amounts to close positions, eliminating the restrictions found in the old system version.
Futures lead traders
How do I open a futures lead trade position?
Once you've become a futures lead trader, you'll need to select contracts for leading trades. Each position you open with these contracts opens a lead trade that copy traders can replicate. Supported order types for futures trading include:
| Support type | Order type |
|---|---|
| Supported | Limit, Market, Advanced limit (Post only, FOK, IOC), Take Profit (TP) / Stop Loss (SL), Trailing stop, Trigger |
| Not supported | Iceberg, TWAP |
Note: if you place any bot trades (such as futures grid, futures DCA, or arbitrage bots) they won't act as lead trades.
Enter the trading page to start opening a futures lead trade position
Select your preferred order type to open a futures lead trade position
How do I close a futures lead trade position?
Method 1: Go to your open positions
Similar to regular trading, you can go to your open positions and directly close your lead trade position. You can also set a custom price and amount if you'd like to perform a partial closure.
Select the order type that you want to close
Set the price and amount that you long for before closing the futures lead trade position
You can also close a position in the order placement section.
Hedge mode: Select the Close tab and place an order. All basic orders are supported, including trigger and Take Profit (TP) / Stop Loss (SL).
One-way mode: Simply place an order in the opposite direction to your open position.
Method 2: Close in your lead trade management
Once you've become a lead trader, manage your lead trades under both Trade > Lead trades and Copy trading > My lead trades. In the lead trade management section, you can access both an overview and a detailed breakdown of your lead trade orders.
The Detailed view breaks down each position by order, allowing you to set TP/SL for each order or close it with a market order.
On the other hand, the Overview combines data for all orders under the same contract, margin mode, and direction, enabling you to close the entire position with a market order.
Trade > Lead trades
Set the price and amount that you long for before closing the futures lead trade position
Set a TP/SL for your order or close it with a market order
Copy trading > My dashboard > Ongoing
Open the Copy trading page to start closing your futures lead trade position
Select the Close all button to close your futures lead trade position
How do I set a take profit and stop loss?
Method 1
Location: Add a TP/SL when placing an order
Enter the TP/SL values in the provided boxes, then proceed to confirm your choices
Method 2
Location: Place a TP/SL order
Initiate a TP/SL order by filling up your desired amount at the required boxes
Method 3
Location: Go to an open position and add a TP/SL
Launch an open position and add your desired figures to the TP/SL section
Method 4
Location: Go to lead trade management and add a TP/SL
Select the TP/SL button on the My dashboard page
Spot copy traders
How do I buy a lead trade crypto?
Once you've become a spot lead trader, you can choose which cryptocurrency to lead trades with. When you purchase this crypto, it will be frozen and can't be used for other products like Earn or bot trading. Keep in mind that certain order types are not currently supported for spot lead trading. You can learn more about placing spot lead trade here.
| Order type | Trading supported? | Will a lead trade be created? |
|---|---|---|
| Limit | Yes | Yes |
| Market | Yes | Yes |
| TP/SL | Yes | Yes |
| Advanced limit | Yes | Yes |
| Trigger | Yes | Yes |
| Trailing stop | Yes | Yes |
| Iceberg | Yes | No |
| TWAP | Yes | No |
Spot lead traders can execute bot trades, such as futures grid, futures DCA, or arbitrage bots. However, it's important to note that these bot trades won't function as lead trades.
Currently spot lead traders can't lead trades through OKX Broker.
How do I sell lead trade assets?
You can find out more in this article.
How do I set a take profit and stop loss?
Go to your ongoing orders to set a TP/SL. You can set the TP and SL trigger price. The amount will be the same as the related ongoing order.
How does a copy trader sell assets or close positions?
Copy trader orders will replicate the orders of the lead trader they are copying. If a lead trader partially closes a position, the system calculates the percentage of the closed position to the total position, and applies it to the copy trader's position. If the lead trader fully closes a position, the copy trader's position is also fully closed.