With low exchange charges. How To Take Profits Okx … With an account at, you can easily buy crypto utilizing a card, checking account, or mobile wallet. It also offers exceptionally high yields sometimes when taking part in staking or saving functions.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that gives you access to trade 343 area currencies if you’re in a location that works with OKX.
Supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining swimming pools and its own blockchain, called OKExChain. could work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough 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 big holding in the OKB currency might qualify for discounts. Choices, futures, and swaps have their own rate schedules with differing charges.
One big downside of is that it doesn’t disclose costs for withdrawals and deposits. While much of is transparent, hidden cost information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so constantly double-check deal information prior to continuing. You likely will not recover any funds if you inadvertently send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you do not normally confront with traditional banking platforms. Nevertheless, the very best practices for keeping your financial accounts protected are comparable. These include using strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including cold storage for many customer assets. It likewise has deals extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone beyond the United States. You will find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished to purchase 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 offering our position and that we wish to take profit at this level what we want to do is discover the difference between these values which’s going to offer us.057 then we’re going to take the dollar quantity threat we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the How To Take Profits Okx
distinction in between the entry and the stop all right and that’s going to offer us the amount of tokens that we need to purchase in order to run the risk of only 10 dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our threat benefit and you’re going to absolutely screw yourself so make sure that you’re not doing that you need to have that set dollar quantity alright 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 multiply it by the entry cost which is this level here fine so in this case we’re going to take 175 coins increased by 3.35 and that’s going to give us 587 dollars then we need to be able to enter this position when we’re utilizing leverage the only thing it’s altering is how much cash we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x utilize that suggests now I have ten thousand dollars to use fine because if we only had a hundred dollar account alright this 587 is currently 5x the size of our cash worth of our account which makes it difficult fine so let’s go over to buy bit here let’s state we wish 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 see what occurs when we open up our leverage fine and you’re gon na get this caution 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 right thing okay so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account okay so this leverage capability is altering absolutely nothing about the threat profile on the trade fine if you plan on trading anyways use the referral Link in the description alright every week we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically gotten in to win a hundred dollars weekly we’re picking 3 winners a week okay we’re trying to provide the charges that we’re collecting from the affiliate program back into the neighborhood for you guys trading with us connect is listed below you can have a look at our Discord where we announce the winners alright prior to we hop into the trading system that you can utilize to begin taking these trades I want to review the rules that I would advise utilizing when growing a small account okay so the first rule is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 as much as 200 okay you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there till we scale our account up a bit bigger the third thing and this is extremely crucial is everybody has a psychological threshold when it comes to 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 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 emotional about the trades which’s something that you really wish to prevent up until you come comfortable doing that all right so state you work your way up to 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you fine you can walk that pull back to fifty dollars per trade choice that repaired quantity once you want to maintain your capital and just select a goal per day on
the money that you wish to make when you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you know I like to make three that 3 to five thousand dollars weekly 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 know a couple years from now move up to a thousand try to make 3 to five thousand per trade and try to double my income alright so let’s get into the support of the actual trading this is a system that I have actually been trading the markets 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 okay but what I want to do is discover a location where I have a freshly developed uptrend first thing that I want to do is determine my wave count alright so if this is our start
very first pullback is 2 largest waves up to 3 pullback is 4 and then the high is 5 and the method 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 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 go up to the high of one if our cost action boils down through