Overview
Once users obtain contract and spot copy trading permissions, they’ll notice that the trading mechanics differ slightly from regular trading due to system requirements. Previously, limitations like the inability to use limit orders for closing positions or custom quantity adjustments affected user experience. After comprehensive optimization, OKX has revamped these features—now supporting limit closes and custom quantity closes, aligning the experience with standard trading.
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For Contract Traders
1. How Contract Traders Open Positions
After gaining copy trading permissions, traders must complete initial setup for their trading instruments. Supported order types when signaling followers include:
| Category | Supported Order Types |
|---|---|
| Supported | Limit, Market, Advanced Limit (Post-only/FOK/IOC), Take Profit/Stop Loss, Trailing TP/SL, Trigger Orders |
| Unsupported | Iceberg Orders, TWAP (Time-Weighted Average Price) |
Note: Strategies like contract grids, DCA, or arbitrage won’t generate copy signals.
2. How Contract Traders Close Positions
Method 1: Closing via Position Panel
Identical to standard trading—click [Close] on any position to set custom price/quantity.
Alternatives:
– Two-Way Mode: Place closing orders directly in the trading panel.
– One-Way Mode: Execute opposite-direction orders to close.
Method 2: Closing via Copy Management Dashboard
Accessible under [Trading Interface > Copy] or [Copy Plaza > My Trades], this panel displays:
– Detailed View: Per-order metrics (entry price, P&L).
– Aggregate View: Combined stats per instrument/margin mode.
Actions:
– Market-close individual orders.
– Set TP/SL per order or aggregate.
3. Setting Take Profit/Stop Loss (TP/SL)
Four flexible methods:
1. Attach TP/SL when opening orders.
2. Place standalone TP/SL orders.
3. Modify TP/SL on active positions.
4. Configure via the Copy Management dashboard.
For Spot Traders
1. How Spot Traders Initiate Copy Trades
Post-authorization, traders must configure instruments. Funds are locked—unavailable for earn/staking or other strategies. Supported order types:
| Order Type | Copy Signal Generated? |
|---|---|
| Limit/Market | Yes |
| TP/SL | Yes |
| Advanced Limit | Yes |
| Trigger/Trailing | Yes |
| Iceberg/TWAP | No |
Key Notes:
– Iceberg/TWAP/arbitrage allowed but won’t signal followers.
– Broker-assisted trades unsupported for copy trading.
2. Custom Closing for Spot Positions
Similar to contracts, traders manually set closing prices/quantities via position panels or trading terminals.
For Followers: Closing Copied Trades
Followers’ positions mirror the trader’s actions proportionally:
– Partial Close (e.g., 50%): Follower’s position closes by 50%.
– Full Close: All follower positions liquidate simultaneously.
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FAQ
1. Can I modify a closing order after submission?
Yes, until execution. Navigate to Open Orders to edit/cancel.
2. Do followers pay extra fees for copied closes?
No—standard trading fees apply based on their account tier.
3. Why can’t I use TWAP for copy trading?
TWAP’s fragmented execution conflicts with real-time signal synchronization.
4. How are TP/SL triggers calculated for followers?
Followed orders replicate the trader’s exact trigger prices.
5. Is there a delay between trader and follower execution?
Minimal (sub-second), but market conditions may cause slight variances.
6. Can followers manually close copied positions early?
Yes, but this exits the copy relationship for that trade.