With low exchange fees. Can You Dollar Cost Average On Okx Pro … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. When taking part in staking or saving functions, it likewise offers incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The website declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may qualify for discount rates.
One big drawback of is that it doesn’t divulge charges for withdrawals and deposits. While much of is transparent, covert cost details are a warning that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check deal details before proceeding. You likely will not recuperate any funds if you unintentionally send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security concerns you do not usually confront with conventional banking platforms. The finest practices for keeping your financial accounts protected are comparable. These consist of 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, consisting of freezer for most customer properties. It likewise has offers additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
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 which we wish to take profit at this level what we wish to do is discover the distinction between these values and that’s going to offer 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 Can You Dollar Cost Average On Okx Pro
distinction in between the entry and the stop all right which’s going to provide us the quantity of tokens that we require to buy in order to risk just ten dollars alright 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 certain that you’re not doing that you require to have that set dollar quantity okay so that implies that in order to find the capital requirement or the quantity of money that we require for this trade we need to take the quantity of coins and multiply it by the entry cost which is this level here alright 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 using utilize 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 suggests now I have 10 thousand dollars to use all right due to the fact that if we just had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account that makes it impossible alright so let’s go over to purchase bit here let’s say we want to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open up our take advantage of alright and you’re gon na get this caution that the liquidation is high alright as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the right 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 take advantage of capability is altering nothing about the risk profile on the trade fine if you plan on trading anyways utilize the referral Link in the description okay every week we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars each week we’re choosing three winners a week all right we’re trying to provide the costs that we’re collecting from the affiliate program back into the neighborhood for you men trading with us connect is listed below you can have a look at our Discord where we reveal the winners alright prior to we hop into the trading system that you can use to start taking these trades I want to discuss the rules that I would suggest utilizing when growing a small account okay 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 up to 200 fine you wish to move that approximately 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 third thing and this is incredibly important is everyone has a mental limit when it concerns just how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 trades in a row I don’t care who you are or what the mathematics states you’re going to start feeling a little bit psychological about the trades which’s something that you actually want to avoid 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 which’s too much for you all right you can stroll that pull back to fifty dollars per trade pick that fixed amount when you want to maintain your capital and just pick an objective per day on
the cash that you wish to make once you get up to a comfortable threshold where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to 5 thousand dollars per week so I’m using you understand 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 know a couple years from now go up to a thousand try to make three to five thousand per trade and attempt to double my income fine 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 definitely 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 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 alright so if this is our beginning
first pullback is 2 largest waves up to three pullback is 4 and then 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 then discover my aspect 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