With low exchange costs. Reverse Position Okx … With an account at, you can quickly buy crypto utilizing a card, savings account, or mobile wallet. When participating in staking or saving features, it likewise provides incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance concerns.
You can produce an account that provides you access to trade 343 area currencies if you’re in a location that works with OKX.
likewise supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you utilize 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 space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various rates tiers that differ based upon trade volume and account holdings. For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might receive discount rates. Swaps, futures, and options have their own rate schedules with differing fees.
One big downside of is that it doesn’t divulge fees for withdrawals and deposits. While much of is transparent, surprise cost information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction details prior to proceeding. You likely will not recover any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you don’t normally face with traditional banking platforms. The best practices for keeping your financial accounts safe and secure are comparable. These include using strong passwords special to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, consisting of freezer for many customer possessions. It likewise 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 easy for anybody outside of the United States. If you’ve ever registered for another cryptocurrency exchange or stock market brokerage account, you will find a familiar experience at OKX.
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 selling our position which we wish to take profit at this level what we want to do is find the difference in between these values which’s going to provide us.057 then we’re going to take the dollar quantity risk we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Reverse Position Okx
difference in between the stop and the entry okay and that’s going to provide 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 going to have the ability to dial in our danger reward and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have actually that set dollar quantity fine so that suggests that in order to find the capital requirement or the quantity of money that we require for this trade we have to take the amount 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 multiplied by 3.35 and that’s going to offer us 587 dollars then we require to be able to enter into this position when we’re using take advantage of the only thing it’s changing is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I use a 100x utilize that indicates now I have 10 thousand dollars to use alright because if we only had a hundred dollar account all right this 587 is already 5x the size of our cash value of our account that makes it difficult fine so let’s go over to buy bit here let’s state we want to take this ape trade here alright we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open our utilize okay and you’re gon na get this warning that the liquidation is high okay as long as you’re measuring you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the right thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account alright so this take advantage of ability is changing nothing about the risk profile on the trade okay if you plan on trading anyways utilize the referral Link in the description all right weekly we do a giveaway where anybody trading with 50k volume or higher is
going to be instantly entered to win a hundred dollars per week we’re picking three winners a week okay we’re trying to provide the fees that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us link is 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 utilize to start taking these trades I wish to review the guidelines that I would suggest utilizing when growing a little account okay so the very first guideline is begin with the dollar amount risk per trade 10 of starting balance on a hundred dollar account use that ten dollar danger all right each time you double the account so when you go to 100 up to 200 all right you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there till we scale our account up a bit bigger the 3rd thing and this is super crucial is everybody has a mental limit when it concerns 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 math states you’re going to begin feeling a little bit emotional about the trades and that’s something that you truly want to avoid up until you come comfy doing that all right so say you work your method approximately 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can stroll that pull back to fifty dollars per trade choice that fixed quantity as soon as you wish to maintain your capital and just pick a goal per day on
the money that you want 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 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 shot to make 3 to 5 thousand per trade and try to double my income okay so let’s get 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 absolutely 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 but what I wish to do is discover an area where I have actually a recently developed uptrend first thing that I wish to do is determine my wave count all right so if this is our start
first pullback is 2 biggest waves approximately three pullback is four and then the high is 5 and the way we can try to find the top of five is by utilizing a Fibonacci projection 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 discover my factor 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 go up to the high of one if our price action comes down through