With low exchange fees. How To Take Profit Okx … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. When taking part in staking or conserving features, it also uses remarkably high yields in some cases.
was founded in 2017 and preserves a headquarters in Seychelles, with extra workplaces around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange worldwide by volume.
The website claims 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 create an account that gives you access to trade 343 spot currencies.
Supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining 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 insufficient space to list them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into various prices tiers that vary based on trade volume and account holdings. For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might get approved for discount rates. Futures, swaps, and alternatives have their own rate schedules with differing charges.
One huge downside of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, hidden cost details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so always double-check transaction information before continuing. You likely won’t recover any funds if you accidentally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not typically confront with standard banking platforms. Nevertheless, the best practices for keeping your monetary accounts secure are similar. These consist of using strong passwords distinct to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for most consumer properties. It also has deals additional features 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 find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished to buy 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 offering our position and that we want to take earnings at this level what we want to do is find the distinction in between these values and that’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 Take Profit Okx
difference between the entry and the stop all right which’s going to provide us the amount of tokens that we need to buy in order to run the risk of only 10 dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never ever going to have the ability to call in our threat benefit and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar amount all right so that indicates that in order to find the capital requirement or the amount of cash that we require for this trade we have to take the quantity of coins and multiply it by the entry rate which is this level here okay so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we require to be able to enter this position when we’re using leverage the only thing it’s changing is how much cash we personally need 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 use okay because if we just had a hundred dollar account all right this 587 is already 5x the size of our cash worth of our account that makes it difficult alright so let’s visit purchase bit here let’s state we want to take this ape trade here all right we need 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 take advantage of alright and you’re gon na get this warning that the liquidation is high all right as long as you’re quantifying you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the best thing okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account all right so this utilize 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 alright each week we do a giveaway where anyone trading with 50k volume or higher is
going to be immediately gotten in to win a hundred dollars each week we’re selecting three winners a week fine we’re trying to provide the fees that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is below you can take a look at our Discord where we reveal the winners all right before we hop into the trading system that you can utilize to start taking these trades I wish to go over the rules that I would recommend using when growing a little account alright so the first rule is begin with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger alright each time you double the account so when you go to 100 approximately 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 larger the 3rd thing and this is very crucial is everybody has a psychological threshold when it pertains to how much cash they’re comfortable running the risk of if I’m looking 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 begin feeling a bit emotional about the trades and that’s something that you actually wish to avoid up until you come comfy doing that okay so state you work your way as much as 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you all right you can stroll that pull back to fifty dollars per trade pick that repaired quantity when you want to preserve your capital and simply select a goal each day on
the money that you wish to make as soon as you get up to a comfy threshold where it’s fitting your income goals so for me personally you understand I like to make three that 3 to five thousand dollars weekly 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 understand a couple years from now move up to a thousand try to make 3 to 5 thousand per trade and attempt to double my income alright so let’s enter into the bread and butter of the actual 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 show you one of the setups that I had on xrp when I was in fact in Dubai alright however what I wish to do is find a location where I have a freshly established uptrend first thing that I wish to do is identify my wave count all right so if this is our start
very first pullback is two largest waves up to three pullback is four and after that the high is 5 and the way we can look for the top of 5 is by using a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click on this link click back here and after that find 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 increase to the high of one if our rate action boils down through