With low exchange charges. Is Okx Copy Trading Profitable … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. When participating in staking or conserving functions, it also offers incredibly high yields in some cases.
was founded in 2017 and preserves a headquarters in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet 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 regulatory and compliance issues.
If you’re in an area that deals with OKX, you can develop an account that provides you access to trade 343 spot currencies.
likewise supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you use in addition to a third-party cryptocurrency wallet or your primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient room 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 might certify for discount rates.
One huge downside of is that it doesn’t divulge charges for deposits and withdrawals. While much of is transparent, covert expense details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal information prior to continuing. If you unintentionally send funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security issues you don’t typically confront with conventional banking platforms. The best practices for keeping your monetary accounts safe and secure are similar. These consist of using strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for the majority of consumer possessions. It likewise has deals extra features 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 signed up for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wanted 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 offering our position and that we want to take earnings at this level what we wish to do is discover the distinction between these worths and that’s going to give us.057 then we’re going to take the dollar quantity 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 Is Okx Copy Trading Profitable
distinction between the stop and the entry fine and that’s going to provide us the amount of tokens that we need to purchase in order to run the risk of only ten 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 risk reward and you’re going to absolutely screw yourself so make sure that you’re not doing that you require to have actually that set dollar amount all right so that implies that in order to find the capital requirement or the amount of money that we need for this trade we have to take the quantity of coins and multiply it by the entry price 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 give us 587 dollars then we need to be able to enter into this position when we’re using take advantage of 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 utilize a 100x utilize that indicates now I have 10 thousand dollars to utilize alright since if we only had a hundred dollar account all right this 587 is already 5x the size of our cash worth of our account which makes it difficult okay so let’s visit buy bit here let’s state we want 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 our leverage 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 running the risk of that 10 dollars you are safe and you’re doing the best thing okay so now only thing that we require to use 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 alright if you plan on trading anyways utilize the referral Link in the description alright every week we do a giveaway where anybody trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars weekly we’re choosing three winners a week all right we’re trying to offer the charges that we’re collecting from the affiliate program back into the community for you men trading with us connect is listed below you can have a look at our Discord where we reveal the winners all right prior to we hop into the trading system that you can use to start taking these trades I wish to discuss the rules that I would recommend utilizing when growing a small account all right so the first rule is start with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that ten dollar danger fine each time you double the account so when you go to 100 up to 200 all right you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and utilize that there till we scale our account up a little bit larger the 3rd thing and this is super important is everyone has a psychological limit when it concerns just how much money they’re comfortable running the risk of 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 bit emotional about the trades which’s something that you actually wish to prevent till you come comfortable doing that fine so say you work your method as much as 200 to 500 to a thousand fine 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 back down to fifty dollars per trade choice that fixed quantity when you want to preserve your capital and simply choose a goal daily on
the cash that you want to make as soon as you get up to a comfy limit where it’s fitting your income objectives so for me personally you understand I like to make three that three to 5 thousand dollars each 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 go up to a thousand shot to make 3 to 5 thousand per trade and attempt to double my income okay so let’s enter into the bread and butter of the real trading this is a system that I have actually been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was actually in Dubai fine however what I want to do is find an area where I have actually a newly established uptrend first thing that I wish to do is identify my wave count fine so if this is our start
very first pullback is two largest waves as much as three pullback is four and after that the high is 5 and the method we can try to find the top of five is by using a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here 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 increase to the high of one if our rate action comes down through