With low exchange fees. Can I Short Sell On Okx … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. When participating in staking or saving functions, it likewise provides remarkably high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The site 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 remain in an area that works with OKX, you can produce an account that gives you access to trade 343 area currencies.
Supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining swimming 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 not enough space to note them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
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 certify for discounts.
One big disadvantage of is that it does not divulge costs for deposits and withdrawals. While much of is transparent, covert expense details are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check deal details before proceeding. You likely will not recuperate any funds if you inadvertently send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security concerns you don’t generally face with conventional banking platforms. The finest practices for keeping your financial accounts safe and secure are comparable. These consist of using strong passwords special to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for many consumer assets. It also has deals additional 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 outside of the United States. You will discover 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 meaning that if we’re wrong and it continues moving down we’re selling our position and that we wish to take earnings at this level what we want to do is discover the difference in between these values which’s going to give us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Can I Short Sell On Okx
difference between the entry and the stop okay which’s going to provide us the quantity of tokens that we need to purchase in order to risk only ten dollars alright if we’re just sharing 250 coins or a thousand coins we’re never ever going to be able to call in our risk benefit 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 quantity okay so that implies that in order to find the capital requirement or the quantity of cash that we require for this trade we have to take the quantity of coins and increase 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 into this position when we’re using take advantage of the only thing it’s changing is how much money 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 ten thousand dollars to utilize fine since if we only had a hundred dollar account alright this 587 is currently 5x the size of our cash value of our account that makes it impossible all right so let’s go over to buy bit here let’s state we wish to take this ape trade here okay 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 leverage alright 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 running the risk of that ten dollars you are safe and you’re doing the best thing alright so now just thing that we require to utilize for this position is twelve dollars which is 12 of our entire account okay so this utilize ability is altering absolutely nothing about the threat profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description fine every week we do a giveaway where anybody trading with 50k volume or higher is
going to be instantly entered to win a hundred dollars each week we’re picking three winners a week alright we’re trying to provide the charges that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is 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 start taking these trades I wish to go over the guidelines that I would recommend utilizing when growing a small account alright so the very first rule is start with the dollar amount threat per trade 10 of starting balance on a hundred dollar account use that ten dollar danger alright each time you double the account so when you go to 100 approximately 200 alright you want to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar quantity and use that there until we scale our account up a little bit larger the 3rd thing and this is very essential is everybody has a psychological threshold when it concerns just how much cash they’re comfortable risking if I’m looking 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 says you’re going to start feeling a bit psychological about the trades which’s something that you really want to prevent until you come comfy doing that all right so say you work your method approximately 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade which’s too much for you all right you can walk that back down to fifty dollars per trade pick that repaired quantity when you want to maintain your capital and simply select an objective daily on
the money that you want to make when you get up to a comfortable threshold where it’s fitting your income objectives so for me personally you understand I like to make three that 3 to 5 thousand dollars per week so I’m using you learn about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you understand a couple years from now go up to a thousand try to make 3 to 5 thousand per trade and try to double my earnings okay so let’s enter into the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have 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 alright however what I wish to do is find an area where I have actually a recently developed uptrend first thing that I want to do is determine my wave count alright so if this is our beginning
first pullback is 2 largest waves as much as three pullback is 4 and then the high is 5 and the way we can search for 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 after that find my element of one and you can see the cost 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 cost action comes down through