Trading in the cryptocurrency derivatives market demands precision, automation, and strategic foresight. One of the most powerful tools available to traders on the OKX platform is the plan order—a feature that allows users to set conditional instructions for entering or exiting positions in futures and perpetual contracts without constant monitoring. Whether you're managing risk or aiming to capitalize on specific price movements, understanding how to use OKX contract plan orders can significantly enhance your trading efficiency.
This guide walks you through everything you need to know about setting up and using plan orders on OKX, including API integration options, best practices, and practical use cases.
What Are Plan Orders in OKX Contracts?
A plan order (also known as a conditional order) enables traders to execute trades automatically when predefined market conditions are met. In the context of OKX contract trading, this typically includes:
- Setting a trigger price
- Defining the order type (buy/sell)
- Specifying quantity and leverage
- Choosing between limit or market execution upon trigger
These orders are especially useful for:
- Automated entry and exit strategies
- Stop-loss and take-profit management
- Scalping or breakout trading setups
Plan orders help remove emotional decision-making and ensure timely execution—even when you're not actively watching the markets.
Types of Plan Orders Available on OKX
OKX supports several types of plan orders tailored for different trading needs:
1. Trigger Order
Set an order to activate once the last traded price or index price reaches your specified level. Commonly used for stop-losses or breakout entries.
2. Trailing Stop Order
Automatically adjusts the stop price based on market movement, locking in profits while giving room for volatility.
3. Time-based Order (Countdown Cancellation)
Schedule an order that cancels itself after a set period if not triggered—ideal for temporary market exposure.
Each of these enhances strategic control over your positions in fast-moving crypto markets.
How to Set Up a Plan Order via OKX Web Interface
You don’t need coding skills to start using plan orders. Here’s how to set one up directly on the OKX trading platform:
- Log in to your OKX account and navigate to the Contracts section.
- Select your desired market (e.g., BTC-USDT-SWAP).
- Below the order entry panel, click on "Plan Order".
- Choose the order type: Take Profit / Stop Loss, Trailing Stop, or Iceberg/Hidden.
Enter:
- Trigger price (last price or index price)
- Order price (limit) or select market price
- Quantity
- Confirm and submit.
Once set, the order will appear in your Active Plan Orders list and execute automatically when conditions are met.
👉 Discover how to automate your trading strategy with advanced order types on OKX.
Using API to Place OKX Contract Plan Orders
For algorithmic traders or those building custom bots, OKX provides a robust REST API and WebSocket interface that supports plan order functionality.
Prerequisites:
- An active OKX account with API keys enabled
- Proper permissions assigned to your API key (e.g., "Trade" permission)
- Familiarity with HTTP requests and JSON formatting
Key API Endpoint:
POST /api/v5/trade/order-algoRequired Parameters:
| Parameter | Description |
|---|---|
instId | Instrument ID (e.g., BTC-USDT-SWAP) |
tdMode | Trade mode (isolated or cross) |
side | buy or sell |
ordType | trigger, oco, conditional, etc. |
sz | Order size |
triggerPx | Price that triggers the order |
orderPx | Execution price (can be -1 for market) |
Example Request (Trigger Order):
{
"instId": "BTC-USDT-SWAP",
"tdMode": "isolated",
"side": "sell",
"ordType": "trigger",
"sz": "100",
"triggerPx": "30000",
"orderPx": "-1",
"triggerPxType": "last"
}This example sets a market sell order for 100 contracts when BTC drops to $30,000.
💡 Tip: Always test your API calls in demo trading mode before going live.
Why Use Plan Orders? Key Benefits
- 24/7 Market Coverage: Never miss a move due to time zone differences or sleep.
- Disciplined Risk Management: Enforce stop-loss rules consistently.
- Improved Entry Precision: Capitalize on support/resistance levels with exact pricing.
- Reduced Emotional Bias: Automate decisions based on logic, not fear or greed.
👉 Start building smarter strategies with automated trading tools on OKX today.
Common Use Cases for Plan Orders
1. Protecting Profits in a Long Position
If you’re holding a long BTC position at $28,000, place a take-profit plan order at $32,000 and a stop-loss at $26,500. This locks in gains while limiting downside.
2. Breakout Entry Strategy
Set a buy-side plan order just above a key resistance level (e.g., $31,200). When price breaks out, your position opens automatically.
3. Shorting During Downtrends
Use trailing stop orders to short during bearish runs, letting profits run while protecting against sudden reversals.
Best Practices When Using Plan Orders
- Always verify whether your trigger is based on last traded price or index price, as discrepancies can cause premature execution.
- Avoid placing stop-loss orders too close to current price—this increases risk of being stopped out by noise.
- Combine plan orders with technical indicators like moving averages or RSI for higher-confidence setups.
- Regularly review and update open plan orders as market conditions evolve.
Frequently Asked Questions (FAQ)
Q: Can I modify or cancel a plan order after it's placed?
Yes. You can edit or cancel any active plan order through the OKX trading interface or via API (/api/v5/trade/cancel-algos) before it triggers.
Q: What happens if the market gaps past my trigger price?
In volatile conditions, your order may execute at a price worse than expected—especially if using market execution. Consider using limit orders for more control.
Q: Is there a fee for placing plan orders?
No. There is no additional fee for setting up plan orders. Fees apply only when the order executes.
Q: Can I use plan orders in both isolated and cross margin modes?
Yes. Plan orders work in both isolated and cross margin modes for futures and perpetual swaps.
Q: Do plan orders work during weekends or low-volume periods?
Absolutely. Plan orders remain active 24/7, regardless of market volume or day of the week.
Q: Are plan orders visible to other traders?
No. Your plan orders are private and not part of the public order book until they are triggered.
Final Thoughts
Mastering OKX contract plan orders gives you a significant edge in crypto derivatives trading. Whether you're using the web interface for manual setups or leveraging APIs for algorithmic execution, these tools empower disciplined, efficient, and strategic trading.
By automating key aspects of your strategy—like entries, exits, and risk controls—you free up time and reduce errors caused by human emotion or delayed reactions.
👉 Unlock the full potential of automated trading—get started with OKX now.
With proper configuration and sound risk management, plan orders become an indispensable part of any serious trader’s toolkit.
Core Keywords: OKX contract, plan order, conditional order, API trading, automated trading, stop-loss, take-profit, trailing stop