With low exchange fees. Okx Trading Journal … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. When taking part in staking or conserving functions, it likewise provides remarkably high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance issues.
You can create an account that offers you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. might 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 total.
Currencies traded on by volume:
breaks currencies down into different 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 might qualify for discount rates. Choices, futures, and swaps have their own rate schedules with differing fees.
One huge downside of is that it doesn’t disclose charges 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 typically one-way and can’t be reversed, so constantly double-check deal information prior to proceeding. If you mistakenly send out funds to the wrong wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some unique security issues you do not usually confront with traditional banking platforms. However, the very best practices for keeping your monetary accounts safe and secure are comparable. These include 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 the majority of client possessions. It also has deals extra features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover 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 in between these worths and that’s going to provide us.057 then we’re going to take the dollar quantity risk 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 Okx Trading Journal
difference in between the entry and the stop all right which’s going to offer us the amount of tokens that we require to purchase in order to run the risk of just 10 dollars all right if we’re just going in with 250 coins or a thousand coins we’re never ever going to have the ability to call in our danger reward and you’re going to absolutely screw yourself so make sure that you’re refraining from doing that you require to have actually that set dollar quantity fine so that suggests that in order to find the capital requirement or the amount of cash that we require for this trade we need to take the quantity of coins and increase it by the entry price 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 provide us 587 dollars then we need to be able to enter this position when we’re using leverage the only thing it’s changing is just how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that implies now I have 10 thousand dollars to use okay due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our cash value of our account which makes it difficult okay so let’s visit purchase 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 watch what happens when we open our leverage all right and you’re gon na get this warning that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing all right so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this leverage capability is changing nothing about the risk profile on the trade alright if you intend on trading anyways use the referral Link in the description okay weekly we do a free gift where anybody trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars per week we’re picking three winners a week alright we’re attempting to offer the fees that we’re collecting from the affiliate program back into the community for you men trading with us link is listed below you can check out our Discord where we announce the winners fine prior to we hop into the trading system that you can utilize to begin taking these trades I want to go over the rules that I would suggest utilizing when growing a small account all right so the very first guideline is start with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that 10 dollar danger alright each time you double the account so when you go to 100 as much as 200 all right you wish to move that approximately 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 bigger the third thing and this is incredibly essential is everyone has a mental threshold when it pertains to just how much money they’re comfortable risking if I’m taking a look 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 math states you’re going to begin feeling a bit psychological about the trades which’s something that you really wish to prevent until you come comfortable doing that alright so say you work your method approximately 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade which’s too much for you fine you can walk that back down to fifty dollars per trade pick that repaired quantity as soon as you wish to preserve your capital and simply choose an objective daily on
the money that you wish to make as soon as you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make 3 that 3 to 5 thousand dollars per week so I’m utilizing you learn 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 go up to a thousand shot to make three to five thousand per trade and attempt to double my earnings fine so let’s get into the support of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have absolutely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was in fact in Dubai all right however what I wish to do is discover an area where I have actually a recently established uptrend first thing that I wish to do is identify my wave count fine so if this is our beginning
very first pullback is 2 largest waves approximately three pullback is 4 and after that the high is five and the method 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 here click back here and after that find 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 go up to the high of one if our price action boils down through