With low exchange fees. Can You Set Limit Orders On Okx … With an account at, you can quickly buy crypto using a card, savings account, or mobile wallet. It likewise uses remarkably high yields in some cases when participating in staking or conserving functions.
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 website declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
You can produce an account that gives you access to trade 343 area currencies if you’re in a location that works with OKX.
also supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining 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 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 prices tiers that differ based on 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 get approved for discount rates. Futures, swaps, and alternatives have their own rate schedules with varying fees.
One big downside of is that it doesn’t reveal fees for withdrawals and deposits. While much of is transparent, concealed expense details are a red flag that might send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so constantly double-check transaction details before continuing. You likely won’t recover any funds if you mistakenly send funds to the incorrect wallet address.
Cryptocurrency exchanges have some unique security issues you do not normally face with traditional banking platforms. Nevertheless, the very best practices for keeping your monetary accounts safe and secure are comparable. These consist of using strong passwords unique 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 cold storage for a lot of customer assets. It also has offers additional functions like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody outside of the United States. If you have actually ever signed up for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
wished 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 offering our position and that we want to take profit at this level what we want to do is find the distinction between these worths which’s going to provide us.057 then we’re going to take the dollar amount threat 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 Can You Set Limit Orders On Okx
distinction in between the stop and the entry fine which’s going to offer us the amount of tokens that we need to purchase in order to run the risk of just 10 dollars fine if we’re simply 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 definitely screw yourself so make sure that you’re not doing that you require to have that set dollar quantity fine so that implies that in order to discover the capital requirement or the amount of money that we require for this trade we have to take the quantity of coins and multiply it by the entry price which is this level here fine 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 need to be able to get into this position when we’re utilizing utilize the only thing it’s changing is just how much cash we personally require 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 utilize alright due to the fact that if we just had a hundred dollar account fine this 587 is already 5x the size of our money worth of our account which makes it difficult fine so let’s go over to buy bit here let’s state we want to take this ape trade here fine we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what happens when we open up our utilize all right and you’re gon na get this warning that the liquidation is high alright as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the best 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 all right so this take advantage of capability is altering absolutely nothing about the risk profile on the trade fine if you intend on trading anyways utilize the referral Link in the description all right every week we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars weekly we’re picking 3 winners a week okay we’re attempting to give the charges that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us link is below you can check out our Discord where we announce the winners alright before we hop into the trading system that you can utilize to begin taking these trades I want to discuss the guidelines that I would advise using when growing a small 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 up to the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and utilize that there up until we scale our account up a little bit bigger the third thing and this is super essential is everyone has a mental threshold when it pertains to just how much cash they’re comfortable risking if I’m looking 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 little bit psychological about the trades which’s something that you actually wish to prevent until you come comfortable doing that okay so say you work your way approximately 200 to 500 to a thousand okay and after that 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 choice that fixed amount as soon as you want to preserve your capital and just choose a goal daily on
the money that you want to make once you get up to a comfortable limit where it’s fitting your income objectives so for me personally you know I like to make three that three to five thousand dollars each week so I’m utilizing you understand 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 know a couple years from now go up to a thousand try to make three to 5 thousand per trade and try to double my income all right so let’s enter into the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually absolutely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was in fact in Dubai okay however what I want to do is discover an area where I have a newly established uptrend first thing that I want to do is recognize my wave count alright so if this is our start
very first pullback is 2 biggest waves approximately three pullback is four and then the high is 5 and the way we can look for the top of 5 is by using a Fibonacci projection off of our one wave so if this is our one value I’m gon na click here 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 rate action boils down through