With low exchange costs. How Long Can You Hold A Position On Okx … With an account at, you can easily buy crypto using a card, checking account, or mobile wallet. It also provides remarkably high yields in some cases when taking part in staking or saving functions.
was founded in 2017 and keeps a headquarters in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
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The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance issues.
You can create an account that offers you access to trade 343 spot currencies if you’re in an area that works with OKX.
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likewise supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you use in addition to a third-party cryptocurrency wallet or your main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency might qualify for discounts.
One huge drawback of is that it does not reveal fees for deposits and withdrawals. While much of is transparent, hidden cost information are a red flag that may send you to another exchange with transparent cost schedules.
Security
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check transaction details before proceeding. You likely will not recover any funds if you unintentionally send funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security issues you do not typically face with standard banking platforms. Nevertheless, the very best practices for keeping your financial accounts safe and secure are similar. These include using strong passwords unique to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for many client properties. It likewise has offers extra features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wished to purchase apecoin at this level put our stop loss down at this level significance that if we’re wrong and it continues moving down we’re selling our position which we wish to take profit at this level what we want to do is discover the difference in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the How Long Can You Hold A Position On Okx
distinction between the stop and the entry fine which’s going to provide us the quantity of tokens that we need to purchase in order to run the risk of just 10 dollars fine if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to call in our danger benefit and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have that set dollar amount fine so that means that in order to find the capital requirement or the quantity of cash that we require for this trade we have to take the amount of coins and increase it by the entry cost which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to give us 587 dollars then we require to be able to enter this position when we’re utilizing take advantage of the only thing it’s altering is how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that implies now I have ten thousand dollars to use alright due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our money worth of our account which makes it difficult okay so let’s visit purchase bit here let’s state we want to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what occurs when we open our take advantage of fine and you’re gon na get this warning that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing fine so now just thing that we need to utilize for this position is twelve dollars which is 12 of our whole account okay so this leverage ability is altering absolutely nothing about the danger profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description okay each week we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars weekly we’re selecting 3 winners a week all right we’re trying to offer the fees that we’re collecting from the affiliate program back into the community for you men trading with us link is below you can take a look at our Discord where we reveal the winners all right before we hop into the trading system that you can use to begin taking these trades I wish to go over the rules that I would suggest using when growing a little account alright so the very first guideline is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk fine each time you double the account so when you go to 100 up to 200 okay you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and use that there till we scale our account up a bit larger the 3rd thing and this is incredibly important is everyone has a psychological threshold when it concerns how much money they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the mathematics says you’re going to begin feeling a bit emotional about the trades and that’s something that you really want to avoid until you come comfy doing that okay so state you work your method as much as 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can walk that pull back to fifty dollars per trade pick that fixed quantity once you wish to maintain your capital and just select an objective daily on
the money that you wish to make when you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you know I like to make 3 that 3 to five thousand dollars weekly so I’m using you understand about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and then I’ll increase it you understand a couple years from now move up to a thousand try to make three to five thousand per trade and try to double my income okay so let’s enter the support of the real trading this is a system that I’ve been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was actually in Dubai alright however what I want to do is discover an area where I have actually a freshly established uptrend first thing that I want to do is identify my wave count alright so if this is our start
very first pullback is 2 largest waves as much as three pullback is 4 and after that the high is 5 and the way we can search for the top of 5 is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here click back here and then find my factor of one and you can see the price action sort of Consolidated right along this level if we take a Fibonacci retracement off of this level and increase to the high of one if our price action comes down through