Understanding Position Modes on OKX
When using uTrading for the first time with no existing positions in your OKX account, the system typically defaults to Open/Close mode. This automatic setting enables smooth operation of trading bots. However, if automatic switching fails, manual configuration becomes necessary.
Why Open/Close Mode Matters
This mode supports simultaneous long and short positions - essential for strategies like uTrading's dual-position approach. Unlike Buy/Sell mode (which restricts you to one-way positions), Open/Close mode provides flexibility for sophisticated trading strategies.
Step-by-Step Configuration Guide
Access Trading Settings
- Open the OKX mobile app
- Navigate to [Trade] via the bottom menu
- Tap the upper-right corner icon
Enter System Settings
- Select [Settings] from the menu
Locate Position Mode
- Choose [Position Mode] in settings
Select Open/Close Mode
- Check the [Open/Close Mode] option
- Confirm your selection
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Mode Comparison Table
| Feature | Open/Close Mode | Buy/Sell Mode |
|---|---|---|
| Order Types | Open & Close orders | Buy/Sell orders only |
| Positions | Two-way positions | One-way positions |
| Margin | Cross/Isolated | Cross/Isolated |
Key Benefits of Open/Close Mode
- Enables hedging strategies
- Allows position netting
- Provides greater flexibility
- Supports automated trading systems
FAQ Section
Q: Why does uTrading require Open/Close mode?
A: The bot simultaneously manages long/short positions on the same asset, requiring two-way position capability.
Q: Can I switch modes with active positions?
A: No. You must close all positions before changing position modes.
Q: Is Open/Close mode available on all OKX products?
A: Currently supported for perpetual swaps and futures contracts.
Q: What happens if I don't switch modes?
A: The trading bot may fail to execute orders properly, potentially missing market opportunities.
Q: Can I use both modes simultaneously?
A: No. You must select one mode for your entire account.
Q: Does mode selection affect fees?
A: No. Trading fees remain the same regardless of position mode.
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Professional Considerations
When selecting position modes:
- Strategy Alignment: Ensure the mode matches your trading approach
- Risk Management: Different modes offer varying risk profiles
- Liquidity Needs: Consider how each mode affects margin requirements
- Bot Compatibility: Verify your automated systems support the selected mode
Conclusion
Proper configuration of OKX's position mode is fundamental for successful trading, particularly when using automated systems like uTrading. The Open/Close mode's flexibility makes it ideal for sophisticated strategies requiring simultaneous long and short positions.