Ouyi OKX backhand opening tutorial

Backhand opening is to take an operation opposite to the market direction when the market trend reverses, that is, short when it rises and long when it falls. The specific steps include: logging into OKX, switching to the reverse contract, selecting the opening direction, setting the opening parameters and placing an order to open the position. The purpose of opening a backhand position is to hedge risks and reduce the impact of volatility, but there are higher risks, and positions and leverage need to be strictly controlled.

OUYI OKX backhand opening tutorial

What is backhand opening?

Backhand opening refers to taking an operation opposite to the market direction when the market trend reverses, that is, going short when it rises and going long when it falls.

Steps to open a backhand position using OKX:

1. Log in to OKX and select the contract type

Log in to Ouyi OKX official website or APP.

Select the contract type you want to trade, such as BTC/USDT.

2. Switch to the reverse contract

In the contract trading interface, find the "Contract Type" drop-down box.

Select "Reverse Contract".

3. Select the direction to open a position

In an upward trend, select "Short Sell".

In a downward trend, select "Buy Long".

4. Set the opening parameters

Enter the opening price.

Select the leverage multiple (optional).

Set the stop-profit and stop-loss points (optional).

5. Place an order to open a position

Enter the opening quantity.

Click the "Sell Short" or "Buy Long" button to open a position.

Example

If you hold 1 BTC in the spot market, you can perform the following backhand opening operations:

In the spot market, sell 1 BTC.

In the contract market, buy 0.1 BTC contract with 10x leverage.

In this way, your overall position is:

Spot: Short position 1 BTC

Contract: Long position 0.1 BTC

By opening a backhand position, you can hedge risks and reduce the impact of volatility on your investment.

Note:

Opening a backhand position involves high risks, and positions and leverage need to be strictly controlled.

When the reversal trend is unclear, it is not recommended to open a backhand position.

Please always pay attention to market dynamics and stop profits and losses in a timely manner.

The above is the detailed content of Ouyi OKX backhand opening tutorial. For more information, please follow other related articles on the PHP Chinese website!