Understanding RFQs in Trading Simulations
When you send a Request for Quote (RFQ) in OKX's trading simulation environment but receive no response, it's typically because selected counterparties aren't actively reviewing or responding to simulation requests. To ensure users gain practical experience, OKX has implemented an automated pricing solution.
How to Guarantee a Simulation Quote Response
Follow this proven method to receive executable prices in your practice sessions:
- Navigate to the "RFQ Generator" page
- Select WAGMI as your counterparty before submission
- This specialized pricing bot will automatically respond to your simulated RFQ
👉 Learn more about OKX's trading tools that enhance your learning experience.
The WAGMI Pricing Bot: Key Features
WAGMI serves as an always-available counterparty within OKX's Block Trading simulation environment, providing these critical functions:
Pricing Mechanism Breakdown
- Basis: Calculates from the best available order book price
- Spread: Includes a predetermined margin
- Validity: Quotes remain active for 60 seconds
- Refresh: Requires RFQ cancellation and resubmission for updated prices
Important Limitations
- Simulation-only functionality
- Provides reference prices, not executable real-market rates
- Doesn't predict actual trading performance
Best Practices for Simulation Trading
To maximize your learning experience with WAGMI:
- Test multiple scenarios: Experiment with different trade sizes and instruments
- Analyze spreads: Observe how pricing varies under market conditions
- Practice execution timing: Master the 60-second quote validity window
👉 Discover advanced trading strategies to complement your simulation practice.
FAQ: Trading Simulation Questions Answered
Why didn't I receive any quotes in simulation mode?
This occurs when human counterparties don't respond. Always select WAGMI as your counterparty for guaranteed responses in the practice environment.
How accurate are WAGMI's simulated prices?
While based on real order book data, these prices include artificial spreads and shouldn't be considered market-executable rates. They serve purely for educational purposes.
Can I use WAGMI for live trading?
No. WAGMI exclusively operates in OKX's trading simulation environment and isn't available for real asset transactions.
How often do prices update?
Each quote remains valid for 60 seconds. You must cancel and resubmit RFQs to receive fresh pricing.
What's the advantage of practicing with WAGMI?
It provides immediate, consistent feedback crucial for understanding institutional trading mechanics without real-market consequences.
Are there limitations to simulated trading?
Yes. While valuable for learning, simulations can't replicate all market conditions, liquidity scenarios, or emotional factors present in live trading environments.