With low exchange fees. How To Close A Trade On Okx … With an account at, you can quickly purchase crypto utilizing a card, savings account, or mobile wallet. When taking part in staking or conserving functions, it also provides extremely high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
If you remain in a location that works with OKX, you can develop an account that provides you access to trade 343 spot currencies.
also supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining pools and its own blockchain, called OKExChain. might work as an exchange you utilize 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 insufficient space to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various rates tiers that differ based on trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might qualify for discount rates. Swaps, choices, and futures have their own rate schedules with varying charges.
One huge disadvantage of is that it does not disclose charges for withdrawals and deposits. While much of is transparent, hidden cost information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check transaction details prior to proceeding. If you mistakenly send funds to the incorrect wallet address, you likely will not recuperate any funds.
Cryptocurrency exchanges have some special security concerns you do not typically confront with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts safe are comparable. These include using strong passwords special to every site 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 a lot of customer possessions. It likewise has offers additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
wished to buy 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 want to take profit at this level what we want to do is find the difference in between these worths which’s going to give us.057 then we’re going to take the dollar amount threat we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the How To Close A Trade On Okx
distinction in between the stop and the entry okay which’s going to offer us the amount of tokens that we require to buy in order to risk only ten dollars all right 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 danger reward 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 quantity alright so that means that in order to find the capital requirement or the quantity of cash that we require for this trade we need to take the amount of coins and multiply it by the entry rate which is this level here fine so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we need to be able to enter this position when we’re utilizing leverage the only thing it’s altering is how much cash we personally require to put into the trade so if I have a hundred dollar account and I use a 100x leverage that indicates now I have ten thousand dollars to utilize fine because if we just had a hundred dollar account fine this 587 is already 5x the size of our cash value of our account that makes it impossible alright so let’s go over to buy bit here let’s say we want 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 see what occurs when we open our take advantage of fine and you’re gon na get this caution that the liquidation is high fine 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 best thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account okay so this utilize capability is altering absolutely nothing about the risk profile on the trade okay if you intend on trading anyways use the referral Link in the description fine each week we do a free gift where anybody trading with 50k volume or greater is
going to be instantly entered to win a hundred dollars each week we’re picking three winners a week fine we’re attempting to offer the charges that we’re gathering from the affiliate program back into the community for you men trading with us connect is 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 utilize to start taking these trades I want to go over the rules that I would advise utilizing when growing a small account okay so the first guideline is start with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that 10 dollar danger okay each time you double the account so when you go to 100 approximately 200 fine you wish to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there until we scale our account up a bit larger the third thing and this is incredibly crucial is everybody has a mental threshold when it comes to just 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 mathematics says you’re going to start feeling a bit psychological about the trades and that’s something that you actually want to avoid until you come comfy doing that fine so state you work your way up to 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you fine you can stroll that pull back to fifty dollars per trade pick that fixed quantity as soon as you wish to preserve your capital and just choose an objective daily on
the money that you want to make as soon as you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you know I like to make three that 3 to five thousand dollars weekly so I’m using you understand about 2.5 percent of my entire 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 move up to a thousand shot to make 3 to five thousand per trade and try to double my income fine so let’s get into the support of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have absolutely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai all right however what I wish to do is find a location where I have a newly established uptrend first thing that I want to do is recognize my wave count alright so if this is our start
very first pullback is 2 largest waves approximately 3 pullback is 4 and then the high is five and the way we can look for the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click here click back here and then discover my aspect of one and you can see the rate 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 price action comes down through