Placing contract trading orders on OKX is a streamlined process that empowers traders to execute precise market strategies with confidence. Whether you're new to futures trading or looking to refine your execution techniques, understanding how to effectively use order types, manage margin, and navigate position management is essential. This guide walks you through the complete workflow of placing contract orders on OKX—step by step—while integrating core trading concepts and advanced tools.
Step-by-Step: How to Submit a Contract Trading Order
To place a contract trading order on OKX, follow these three key steps:
1. Select Contract Pair and Order Type
First, choose your contract currency and preferred order type.
OKX supports major cryptocurrencies including BTC, ETH, EOS, LTC, BCH, ETC, XRP, BSV, TRX, Neo, LINK, and DASH.
Next, select from the available order types:
- Limit Order
- Take Profit / Stop Loss (formerly Plan Orders)
- Advanced Limit Order
- Trailing Stop Order
- Iceberg Order
- Time-Weighted Order (TWAP)
- Market Order
Each serves a unique strategic purpose depending on your market outlook and risk tolerance.
👉 Discover how professional traders optimize their entries and exits using smart order types.
2. Enter Price and Quantity
Input your desired price in USDT and quantity in contracts (per coin or per contract). The system will automatically calculate:
- Number of contracts you can open
- Initial margin required
- Margin ratio after opening
This real-time feedback helps prevent margin-related rejections and supports informed decision-making.
3. Choose Trade Direction and Confirm
Finally, select your trade type:
- Buy Open Long: Go long when expecting price increases
- Sell Close Long: Exit an existing long position
- Sell Open Short: Open a short position anticipating price drops
- Buy Close Short: Cover an open short position
Once confirmed, your order appears in the "Contract Orders" tab, where it can be monitored or canceled before full execution.
Margin Requirements:
- In cross-margin mode, the margin ratio must be ≥
1 / selected leverageto submit successfully.- In isolated margin mode, available margin must exceed the cost of at least one contract.
All pending orders remain cancelable until fully filled.
Understanding Trade Directions
Knowing the difference between opening and closing positions is critical for managing exposure.
| Action | Purpose |
|---|---|
| Buy Open Long | Enter a bullish position by purchasing contracts |
| Sell Close Long | Exit a long position by selling held contracts |
| Sell Open Short | Initiate a bearish position by selling contracts not owned |
| Buy Close Short | Exit a short position by buying back borrowed contracts |
These actions form the foundation of directional trading in perpetual futures markets.
Contract Order Types Explained
OKX offers a suite of intelligent order types designed for both novice and advanced traders.
Limit Order
A limit order lets you specify the maximum price to buy or minimum price to sell. It ensures execution only at your defined terms—or better.
Example:
- Current BTC/USDT price: 13,000
- You set a buy limit at 12,900 → Order fills when price ≤ 12,900
- If you set a buy at 13,100 → Since current price (13,000) is more favorable, it executes immediately
This follows the "best price principle"—you always get the better end of the deal if market conditions allow.
Take Profit & Stop Loss Orders
Automatically trigger an order when the latest traded price hits your preset trigger level.
Used primarily for:
- Protecting profits (take profit)
- Limiting losses (stop loss)
Case Example – Stop Loss for Short Position:
- You short BTC at average entry: 9,000 USDT
- Set stop loss trigger: 10,000 USDT
- When market hits 10,000, system places a buy-to-close order at 10,010, minimizing further downside risk
Reverse logic applies for long positions.
👉 Learn how automated risk controls protect your portfolio during volatile swings.
Trailing Stop Order
Ideal for capturing trends while protecting gains. A trailing stop activates only after a specified pullback from peak price.
Rules:
- For buying: Activates when price drops below activation level AND rebounds by set percentage
- For selling: Triggers when price rises above activation level AND pulls back by defined amount
Example:
- BTC price: 19,000 USDT
- You expect further decline but want to catch rebounds
- Set activation: 18,000 | Callback rate: 1%
- Price falls to 17,800 → activation condition met
- Rebounds to 17,978 → (17,978 - 17,800)/17,800 ≈ 1% → triggers market buy
This dynamic strategy balances timing precision with automation.
Iceberg Order
Designed for large-volume traders who wish to avoid market impact. Your total order is split into smaller chunks executed incrementally.
Key features:
- Each sub-order: 80–100% of average size
- Price adjusts based on best bid/ask ± depth setting
- Auto-renews after partial fill or significant price deviation
Helps maintain stealth in illiquid markets and reduces slippage.
Time-Weighted Average Price (TWAP) Order
Breaks large orders into smaller pieces executed over time based on opposing order book depth.
Perfect for:
- Institutional-scale entries/exits
- Minimizing market disruption
System calculates optimal slice size using:
- Opposite-side liquidity volume
- User-defined participation rate (e.g., 5%)
- Max price deviation tolerance
Orders repeat at fixed intervals until total volume is filled.
Advanced Limit Order
Adds execution control beyond standard limits with three modes:
1. Post Only (Maker Only)
Ensures you only pay maker fees by avoiding immediate execution. If your order would match instantly, it’s canceled instead.
2. Fill or Kill (FOK)
Requires full execution immediately—or cancellation. Partial fills are not allowed.
3. Immediate or Cancel (IOC)
Executes what it can right away; any unfilled portion is canceled automatically.
Use Case: A trader wants to buy 800 BTC contracts at 10,050:
- Total available asks: 775 → FOK fails; IOC fills 775 and cancels remainder
These tools give fine-grained control over execution quality and cost efficiency.
Frequently Asked Questions (FAQ)
Q: What’s the difference between isolated and cross margin?
A: Isolated margin allocates a fixed amount to a position—limiting max loss but risking liquidation if depleted. Cross margin uses your entire balance as collateral, improving utilization but exposing more funds to risk.
Q: Can I modify a stop-loss order after placing it?
A: Yes. As long as the order hasn’t been triggered, you can edit or cancel it via the “Contract Orders” section.
Q: Why was my limit order rejected?
A: Common causes include insufficient margin, leverage mismatch, or violating Post Only rules (if immediate execution would occur).
Q: Do TWAP and Iceberg orders work overnight?
A: Yes. These strategies run continuously until completion or manual cancellation—even across sessions.
Q: Are there fees for using advanced order types?
A: No additional fees. You're charged standard taker/maker rates based on whether your order takes liquidity or adds it.
Q: How fast are trailing stops executed?
A: Execution speed depends on market data feed latency. During high volatility, slight delays may occur—use conservative callback thresholds accordingly.
Final Tips for Effective Order Management
Success in contract trading hinges not just on predicting price moves—but on precise execution. Use OKX’s diverse order types to:
- Automate risk management with stop-loss and take-profit orders
- Reduce market impact with iceberg and TWAP strategies
- Optimize fee structure using Post Only settings
Whether you're hedging portfolio risk or speculating on short-term moves, mastering these tools puts you ahead of the curve.
👉 Start applying advanced order strategies in real-time with powerful trading tools.