With low exchange fees. Okx How To Take Partial Profit … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. It likewise uses extremely high yields sometimes when participating in staking or conserving features.
was founded in 2017 and keeps a headquarters in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulatory and compliance issues.
You can create an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
likewise supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you use in addition to a third-party cryptocurrency wallet or your primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various rates tiers that vary based on trade volume and account holdings. 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 receive discounts. Options, futures, and swaps have their own rate schedules with differing charges.
One big disadvantage of is that it does not reveal fees for deposits and withdrawals. While much of is transparent, surprise cost details are a warning that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check transaction information before continuing. You likely won’t recover any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not typically confront with conventional banking platforms. The best practices for keeping your monetary accounts protected are comparable. These include using strong passwords distinct to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for most client properties. It likewise has offers additional features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
wanted 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 offering our position which we wish to take revenue at this level what we want to do is discover the distinction between these worths and that’s going to give us.057 then we’re going to take the dollar amount danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx How To Take Partial Profit
distinction in between the entry and the stop fine which’s going to give us the amount of tokens that we require to buy in order to risk just ten dollars okay if we’re just going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our risk benefit and you’re going to definitely screw yourself so make sure that you’re refraining from doing that you need to have that set dollar amount all right so that implies that in order to find the capital requirement or the quantity of cash that we need for this trade we have to take the quantity of coins and multiply it by the entry price 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 offer us 587 dollars then we need to be able to enter into 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 use a 100x leverage that suggests now I have ten thousand dollars to utilize fine since if we only had a hundred dollar account alright this 587 is already 5x the size of our cash worth of our account which makes it impossible fine so let’s visit buy bit here let’s state we wish to take this ape trade here okay we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now see what takes place when we open up our leverage fine and you’re gon na get this caution that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the ideal thing all right so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account all right so this leverage ability is changing absolutely nothing about the risk profile on the trade all right if you plan on trading anyways utilize the recommendation Link in the description all right every week we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars each week we’re choosing three winners a week okay we’re attempting to give the fees that we’re collecting from the affiliate program back into the community for you guys trading with us link is listed below you can check out our Discord where we announce the winners fine before we hop into the trading system that you can use to begin taking these trades I want to discuss the rules that I would recommend utilizing when growing a little account alright so the first rule is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that 10 dollar risk alright each time you double the account so when you go to 100 approximately 200 all right you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there until we scale our account up a little bit bigger the 3rd thing and this is super crucial is everybody has a psychological threshold when it comes to just how much cash they’re comfortable risking if I’m looking at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the mathematics says you’re going to start feeling a bit emotional about the trades which’s something that you really wish to prevent up until you come comfortable doing that okay so say you work your method approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can stroll that back down to fifty dollars per trade choice that repaired quantity once you wish to preserve your capital and just pick an objective daily on
the cash that you want to make as soon as you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you know I like to make three that three to 5 thousand dollars weekly so I’m utilizing you know about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that 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 earnings okay so let’s get into 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 actually absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was really in Dubai fine however what I want to do is discover a location where I have a newly developed uptrend first thing that I want to do is determine my wave count fine so if this is our beginning
first pullback is two biggest waves up to three pullback is 4 and then the high is five and the method we can try to find the top of 5 is by using a Fibonacci forecast 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 aspect of one and you can see the cost 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 rate action boils down through