With low exchange fees. Okx Close Position … With an account at, you can easily purchase crypto using a card, savings account, or mobile wallet. It also offers remarkably high yields sometimes when taking part in staking or saving features.
was founded in 2017 and preserves a headquarters in Seychelles, with extra workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that offers you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you use in addition to a third-party cryptocurrency wallet or your main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may qualify for discounts.
One big drawback of is that it doesn’t divulge charges for withdrawals and deposits. While much of is transparent, covert cost information are a warning that may send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check deal details prior to proceeding. If you unintentionally send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security issues you don’t usually face with standard banking platforms. The finest practices for keeping your financial accounts safe are comparable. These include utilizing strong passwords special 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 cold storage for the majority of consumer assets. It also has deals additional features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone outside of the United States. You will discover a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished to purchase apecoin at this level put our stop loss down at this level meaning that if we’re wrong and it continues moving down we’re offering our position which we wish to take profit at this level what we wish to do is discover the difference between these worths and that’s going to provide us.057 then we’re going to take the dollar amount danger 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 Okx Close Position
distinction in between the stop and the entry fine which’s going to give us the quantity of tokens that we need to buy in order to risk only ten dollars okay if we’re just sharing 250 coins or a thousand coins we’re never ever going to have the ability to dial in our threat reward and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you require to have that set dollar quantity fine so that means that in order to find the capital requirement or the amount of cash that we need for this trade we need to take the amount of coins and multiply it by the entry price which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 and that’s going to offer us 587 dollars then we need to be able to enter into this position when we’re utilizing leverage the only thing it’s changing is just 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 suggests now I have ten thousand dollars to use fine since if we just had a hundred dollar account all right this 587 is already 5x the size of our money value of our account which makes it difficult alright so let’s go over to purchase bit here let’s state we wish to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what happens when we open up our utilize all right and you’re gon na get this warning that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing all right so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account alright so this leverage ability is changing absolutely nothing about the danger profile on the trade fine if you intend on trading anyways utilize the referral Link in the description all right every week we do a free gift where anyone trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars weekly we’re selecting 3 winners a week alright we’re trying to give the costs that we’re collecting from the affiliate program back into the community for you guys trading with us link is listed below you can have a look at our Discord where we announce the winners alright before we hop into the trading system that you can use to start taking these trades I wish to go over the guidelines that I would suggest using when growing a small account alright so the first guideline is start with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk okay each time you double the account so when you go to 100 approximately 200 alright you want to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there until we scale our account up a bit bigger the 3rd thing and this is extremely crucial is everyone has a mental limit when it concerns how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose three trades in a row I don’t care who you are or what the math says you’re going to start feeling a bit psychological about the trades and that’s something that you truly want to prevent until you come comfortable doing that okay so state you work your way up to 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you all right you can stroll that pull back to fifty dollars per trade pick that repaired amount when you wish to protect your capital and simply choose a goal daily on
the money that you want to make once you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you understand I like to make three that 3 to five thousand dollars weekly so I’m utilizing 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 go up to a thousand shot to make three to five thousand per trade and try to double my income alright so let’s get into the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai all right however what I want to do is discover a location where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count alright so if this is our beginning
very first pullback is two largest waves up to 3 pullback is 4 and then the high is five and the method we can try to find the top of five is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and then find my element 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 go up to the high of one if our rate action comes down through