With low exchange charges. How To Set A Stop Loss On Okx … With an account at, you can quickly purchase crypto utilizing a card, bank account, or mobile wallet. It likewise provides exceptionally high yields in some cases when taking part in staking or saving features.
was founded in 2017 and keeps a head office in Seychelles, with additional offices around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance concerns.
If you’re in a location that deals with OKX, you can develop an account that provides you access to trade 343 spot currencies.
also supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining 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 list them all in our OKX review. 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 discount rates.
One big disadvantage of is that it doesn’t reveal fees for deposits and withdrawals. While much of is transparent, concealed cost details are a warning that might send you to another exchange with transparent charge schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal information prior to proceeding. If you accidentally send out funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some unique security issues you do not generally face with standard banking platforms. Nevertheless, the best practices for keeping your monetary accounts secure are comparable. These consist of using strong passwords distinct to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for most client assets. It likewise has offers extra features like the capability to set up 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’ve ever signed up 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 meaning that if we’re wrong and it continues moving down we’re offering our position which we want to take revenue at this level what we wish to do is find the difference between these worths which’s going to provide us.057 then we’re going to take the dollar quantity threat we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the How To Set A Stop Loss On Okx
difference in between the stop and the entry alright which’s going to provide us the amount of tokens that we require to buy in order to run the risk of only 10 dollars all right if we’re just sharing 250 coins or a thousand coins we’re never going to be able to call in our risk reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have that set dollar amount okay so that indicates that in order to discover the capital requirement or the amount of money that we need for this trade we need to take the amount of coins and multiply it by the entry cost which is this level here all right 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 require to be able to enter into this position when we’re utilizing utilize the only thing it’s altering is just how much money we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that indicates now I have 10 thousand dollars to utilize fine because if we only had a hundred dollar account alright this 587 is currently 5x the size of our money worth of our account which makes it impossible fine so let’s visit purchase bit here let’s say we wish 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 view what occurs when we open up our utilize okay and you’re gon na get this warning that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the ideal thing alright so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account all right so this leverage ability is altering absolutely nothing about the threat profile on the trade alright if you intend on trading anyways utilize the recommendation Link in the description fine each week we do a free gift where anyone trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars each week we’re selecting three winners a week okay we’re trying to provide the fees that we’re gathering from the affiliate program back into the neighborhood for you men trading with us link is below you can have a look at our Discord where we announce the winners okay prior to we hop into the trading system that you can use to start taking these trades I wish to review the guidelines that I would suggest utilizing when growing a small account all right so the first guideline is begin with the dollar amount danger per trade 10 of beginning balance on a hundred dollar account use that 10 dollar risk fine each time you double the account so when you go to 100 approximately 200 alright you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and use that there until we scale our account up a bit bigger the 3rd thing and this is extremely important is everyone has a mental limit when it comes to just how much money they’re comfortable running the risk of 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 math says you’re going to begin feeling a little bit psychological about the trades which’s something that you really want to prevent till you come comfy doing that all right so say you work your way approximately 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can stroll that back down to fifty dollars per trade choice that repaired amount when you wish to preserve your capital and just pick a goal each day on
the money that you wish to make as soon as you get up to a comfortable threshold where it’s fitting your income goals so for me personally you understand I like to make three that three to 5 thousand dollars per week so I’m using you know about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and then I’ll increase it you know a couple years from now move up to a thousand try to make 3 to five thousand per trade and try to double my earnings okay so let’s enter the support 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 reveal you one of the setups that I had on xrp when I was in fact in Dubai alright but what I wish to do is discover a location where I have actually a freshly developed uptrend first thing that I want to do is determine my wave count okay so if this is our beginning
very first pullback is two biggest waves as much as 3 pullback is 4 and after that the high is 5 and the way we can look for the top of 5 is by using a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click on this link click back here and after that discover my element 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 go up to the high of one if our cost action comes down through