With low exchange costs. Okx Trading Bot Review … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. When participating in staking or saving functions, it also offers remarkably high yields in some cases.
was founded in 2017 and preserves a headquarters in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The website declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance concerns.
If you’re in an area that works with OKX, you can create an account that offers you access to trade 343 area currencies.
Supports margin borrowing, 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 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 inadequate space to note 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 certify for discount rates.
One huge disadvantage of is that it doesn’t disclose charges for withdrawals and deposits. While much of is transparent, concealed cost information are a warning that may 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 proceeding. You likely won’t recuperate any funds if you inadvertently send funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security issues you do not usually face with conventional banking platforms. The best practices for keeping your monetary accounts secure are similar. These include utilizing strong passwords distinct to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for most customer possessions. It also has deals extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. You will discover a familiar experience at OKX if you’ve 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 significance that if we’re wrong and it continues moving down we’re selling our position and that we want to take revenue at this level what we want to do is discover the difference between these worths which’s going to provide us.057 then we’re going to take the dollar amount threat we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Trading Bot Review
difference in between the stop and the entry all right and that’s going to offer us the amount of tokens that we require to purchase in order to risk just 10 dollars fine if we’re just sharing 250 coins or a thousand coins we’re never 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 require to have actually that set dollar amount fine so that means that in order to find the capital requirement or the amount of money 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 get into this position when we’re using take advantage of the only thing it’s altering 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 utilize that implies now I have ten thousand dollars to utilize all right since if we only had a hundred dollar account okay this 587 is already 5x the size of our money worth of our account that makes it difficult okay so let’s visit buy bit here let’s state we want 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 view what takes place when we open our take advantage of okay and you’re gon na get this warning that the liquidation is high fine as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the best thing fine so now only thing that we need to utilize for this position is twelve dollars which is 12 of our entire account all right so this utilize capability is changing absolutely nothing about the risk profile on the trade okay if you intend on trading anyways use the referral Link in the description fine weekly we do a free gift where anybody trading with 50k volume or higher is
going to be automatically gone into to win a hundred dollars weekly we’re picking 3 winners a week okay we’re attempting to give the fees that we’re gathering from the affiliate program back into the community for you guys trading with us connect is below you can take a look at our Discord where we announce the winners all right before we hop into the trading system that you can use to begin taking these trades I wish to discuss the guidelines that I would advise using when growing a small account okay so the first guideline is begin with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that ten dollar danger okay each time you double the account so when you go to 100 as much as 200 alright 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 quantity and utilize that there till we scale our account up a little bit bigger the third thing and this is very important is everyone has a psychological threshold when it pertains 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 three trades in a row I don’t care who you are or what the mathematics says you’re going to start feeling a little bit emotional about the trades and that’s something that you actually want to prevent up until you come comfy doing that all right so say you work your way up to 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can stroll that pull back to fifty dollars per trade pick that repaired quantity when you want to preserve your capital and just choose an objective daily on
the money that you wish to make once 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 three to 5 thousand dollars each week 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 know a couple years from now go up to a thousand shot to make three to 5 thousand per trade and attempt to double my income all right so let’s get into the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually absolutely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was really in Dubai okay but what I wish to do is discover an area where I have a newly established uptrend first thing that I want to do is identify my wave count all right so if this is our start
first pullback is 2 biggest waves as much as 3 pullback is 4 and after that the high is 5 and the way we can try to find the top of 5 is by using 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 after that discover 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 increase to the high of one if our cost action boils down through