OKX Introduces Smart Iceberg Trading Bot Strategy For Large Scale Trading
- OKX has introduced a new Iceberg Trading Bot strategy to help users with large trade sizes achieve the best results.
- In the nyaf upgrade, the option of pending orders and pending orders, starting conditions and many other core upgrades has been added.
- OKX New Iceberg has the advantages of large order separation, hidden trading, reduced slippage, custom pending order options.
According to official news, in order to improve users’ trading experience, OKX intends to launch a new iceberg strategy at 4:30 pm (HKT) on July 13, 2023, adding a pending order option and number of pending orders, starting conditions and many other core upgrades.
The core upgrade changes are as follows:
- Added “Pending Order Option”: Support users to choose according to their needs: trade faster/trade faster with better price/queue
- Added “Number of Pending Orders”: Support user to display up to 5 pending orders in order book
- Added “starting condition”: user selection support: instant trigger/price trigger/RSI trigger
Once online, the user opens the OKX app, selects the trade button at the bottom of the page, and clicks on the strategy to enter the strategy page, click on the large order split in the strategy creation section, and select the iceberg strategy to enter OKX’s new iceberg page. Or you can open the official OKX website, through the trade button in the navigation bar, select Create Strategy in Strategy Trading in the drop-down box, and then select an iceberg strategy.
It is known that OKX Bingshan’s entrustment strategy is the strategy of breaking up large orders and placing orders in batches. It can help users customize their options when it comes to bulk transactions and complete splits of large orders.
It is capable of concealing transaction intent and reducing Cost reduction, slippage reduction and market price volatility have become one of the preferred strategies of large trading users in the market.
Users are advised to switch to the new iceberg strategy as soon as possible, the original iceberg strategy will be offline within a month.
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