With low exchange costs. Trading Bot For Okx … With an account at, you can easily purchase crypto using a card, checking account, or mobile wallet. When taking part in staking or saving functions, it likewise provides extremely high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices around the world. 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 nations. They don’t take users from the United States due to regulative and compliance issues.
You can develop an account that gives you access to trade 343 spot currencies if you’re in an area that works with OKX.
likewise supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining 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 inadequate room to list 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 may receive discounts. Swaps, futures, and alternatives have their own rate schedules with differing fees.
One huge disadvantage of is that it does not divulge charges for deposits and withdrawals. While much of is transparent, hidden cost details are a warning that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are normally one-way and can’t be reversed, so always double-check transaction details before proceeding. You likely will not recuperate any funds if you accidentally send funds to the wrong wallet address.
Cryptocurrency exchanges have some unique security issues you do not generally confront with traditional banking platforms. The best practices for keeping your financial accounts safe are similar. These include using strong passwords distinct 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 cold storage for most client assets. It likewise has offers extra features like the ability 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 have actually 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 significance that if we’re wrong and it continues moving down we’re selling our position and that we want to take revenue at this level what we wish to do is find the distinction between these values and that’s going to give us.057 then we’re going to take the dollar quantity danger 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 Trading Bot For Okx
distinction in between the stop and the entry all right which’s going to offer us the amount of tokens that we require to buy in order to risk just ten dollars fine if we’re just sharing 250 coins or a thousand coins we’re never going to be able to dial in our threat reward and you’re going to absolutely screw yourself so ensure that you’re not doing that you require to have actually that set dollar amount okay so that means that in order to find the capital requirement or the quantity of money that we need for this trade we need to take the amount of coins and increase it by the entry rate 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 offer us 587 dollars then we require to be able to enter this position when we’re utilizing leverage the only thing it’s altering is just how much cash we personally require to put into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that indicates now I have 10 thousand dollars to use okay since if we just had a hundred dollar account fine this 587 is currently 5x the size of our money worth of our account which makes it impossible okay so let’s visit purchase bit here let’s state we want to take this ape trade here alright we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens 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 ten dollars you are safe and you’re doing the right thing fine so now just thing that we require to use for this position is twelve dollars which is 12 of our entire account fine so this leverage capability is changing absolutely nothing about the risk profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description okay weekly we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately gotten in to win a hundred dollars weekly we’re choosing three winners a week alright we’re trying to give the fees that we’re gathering from the affiliate program back into the community for you people trading with us link is listed below you can take 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 discuss the guidelines that I would advise utilizing when growing a little account all right so the very first rule is begin with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar risk alright each time you double the account so when you go to 100 approximately 200 all right you wish to move that as much as the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there up until we scale our account up a bit bigger the third thing and this is very important is everybody has a mental limit when it pertains to just how much cash they’re comfortable running the risk of if I’m taking a look at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the math states you’re going to start feeling a little bit emotional about the trades which’s something that you actually wish to prevent up until you come comfortable doing that okay so say you work your way as much as 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you okay you can walk that pull back to fifty dollars per trade pick that repaired quantity as soon as you want to protect your capital and simply choose a goal daily on
the money that you want to make as soon as you get up to a comfortable limit where it’s fitting your income goals so for me personally you know I like to make 3 that 3 to 5 thousand dollars weekly so I’m utilizing you learn 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 move up to a thousand try to make 3 to five thousand per trade and try to double my earnings alright so let’s get into the support of the real trading this is a system that I have actually been trading the marketplaces with for the past couple months that have absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai all right however what I wish to do is discover an area where I have a freshly developed uptrend first thing that I want to do is recognize my wave count all right so if this is our beginning
very first pullback is 2 biggest waves approximately three pullback is 4 and then the high is five and the way we can try to find the top of 5 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 discover my aspect 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 price action comes down through