With low exchange charges. How To Set Stop Loss Okx … With an account at, you can easily purchase crypto utilizing a card, savings account, or mobile wallet. When participating in staking or saving features, it likewise offers incredibly high yields in some cases.
was founded in 2017 and keeps 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 declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance issues.
If you remain in an area that works with OKX, you can produce an account that provides you access to trade 343 area currencies.
likewise supports margin borrowing, earning 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 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:
breaks currencies down into various rates tiers that differ based upon trade volume and account holdings. 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 get approved for discounts. Choices, swaps, and futures have their own rate schedules with varying fees.
One big disadvantage of is that it doesn’t divulge fees for withdrawals and deposits. While much of is transparent, hidden expense details are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check deal details prior to continuing. If you unintentionally send out funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some distinct security issues you do not usually face with conventional banking platforms. The finest practices for keeping your financial accounts secure are similar. These include using strong passwords unique to every site 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 many customer properties. It likewise has offers extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. You will find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wanted 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 and that we wish to take revenue at this level what we wish to do is find the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity danger we wish 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 Set Stop Loss Okx
distinction in between the stop and the entry okay which’s going to provide us the amount of tokens that we need to buy in order to run the risk of just 10 dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our threat benefit and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you need to have that set dollar amount fine so that suggests that in order to discover the capital requirement or the amount of cash 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 fine so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to give us 587 dollars then we need to be able to get into this position when we’re using leverage the only thing it’s altering is just how much money we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have 10 thousand dollars to utilize fine since if we only had a hundred dollar account all right this 587 is currently 5x the size of our money worth of our account which makes it difficult okay so let’s visit 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 enjoy what takes place when we open our utilize fine and you’re gon na get this caution that the liquidation is high okay 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 best thing alright so now only thing that we require to utilize for this position is twelve dollars which is 12 of our entire account okay so this take advantage of ability is changing nothing about the danger profile on the trade alright if you plan on trading anyways use the recommendation Link in the description all right weekly we do a free gift where anyone trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars per week we’re selecting 3 winners a week fine we’re attempting to provide the charges that we’re collecting from the affiliate program back into the community for you guys trading with us link is below you can have a look at 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 wish to review the rules that I would suggest using when growing a small account fine so the first guideline is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account usage that 10 dollar danger alright each time you double the account so when you go to 100 as much as 200 alright you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and utilize that there until we scale our account up a bit larger the third thing and this is very crucial is everybody has a mental limit when it comes to just how much cash 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 says you’re going to begin feeling a little bit emotional about the trades which’s something that you truly want to prevent until you come comfortable doing that fine so say you work your way approximately 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can walk that pull back to fifty dollars per trade choice that fixed amount when you wish to preserve your capital and simply pick an objective each day on
the money that you wish to make once you get up to a comfy limit where it’s fitting your income goals so for me personally you know I like to make 3 that three to 5 thousand dollars weekly so I’m utilizing you understand about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and then I’ll increase it you understand a couple years from now go up to a thousand shot to make three to 5 thousand per trade and try to double my earnings okay so let’s enter into the bread and butter 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 reveal you among the setups that I had on xrp when I was really in Dubai all right however what I want to do is find a location where I have a newly developed uptrend first thing that I want to do is recognize my wave count fine so if this is our beginning
very first pullback is two biggest waves up to 3 pullback is 4 and after that the high is 5 and the way we can search for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click on this link click back here and then find my factor 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 go up to the high of one if our price action boils down through