With low exchange fees. Okx Copy Trading Tutorial … With an account at, you can quickly purchase crypto using a card, checking account, or mobile wallet. When taking part in staking or conserving features, it also provides remarkably high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world 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 issues.
If you remain in an area that works with OKX, you can create an account that offers you access to trade 343 area currencies.
Supports margin borrowing, earning 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 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 insufficient space to note 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 area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might get approved for discount rates. Options, swaps, and futures have their own rate schedules with differing costs.
One big drawback of is that it does not reveal charges for withdrawals and deposits. While much of is transparent, concealed cost information are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction details before proceeding. You likely will not recover any funds if you accidentally send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security concerns you do not usually confront with standard banking platforms. The finest practices for keeping your monetary accounts safe and secure are comparable. These include using strong passwords distinct 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 a lot of customer possessions. It likewise has deals extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody 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.
wanted 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 selling our position which we wish to take revenue 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 want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Copy Trading Tutorial
difference between the stop and the entry all right and that’s going to provide us the amount of tokens that we need to purchase in order to risk just 10 dollars okay if we’re just sharing 250 coins or a thousand coins we’re never ever going to have the ability to dial in our threat reward and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar quantity fine 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 amount of coins and increase it by the entry price 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 need to be able to enter into this position when we’re utilizing take advantage of the only thing it’s changing is how much cash we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that means now I have 10 thousand dollars to utilize alright because if we only had a hundred dollar account alright this 587 is already 5x the size of our money worth of our account which makes it impossible okay so let’s go over to buy bit here let’s say 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 view what occurs when we open our take advantage of fine and you’re gon na get this caution that the liquidation is high alright 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 best thing okay so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account all right so this take advantage of capability is changing nothing about the risk profile on the trade alright if you intend on trading anyways utilize the recommendation Link in the description okay weekly we do a free gift where anybody trading with 50k volume or greater is
going to be instantly gotten in to win a hundred dollars weekly we’re choosing three winners a week alright we’re trying to offer the charges that we’re collecting from the affiliate program back into the community for you people trading with us connect 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 begin taking these trades I wish to discuss the guidelines that I would suggest utilizing when growing a small account okay so the first guideline is start with the dollar amount risk per trade 10 of beginning balance on a hundred dollar account use that 10 dollar risk alright each time you double the account so when you go to 100 up to 200 all right you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there until we scale our account up a little bit bigger the 3rd thing and this is extremely essential is everyone has a psychological limit when it pertains 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 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 and that’s something that you truly want to prevent up until you come comfortable doing that okay so say you work your method approximately 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade which’s too much for you alright you can walk that pull back to fifty dollars per trade choice that fixed quantity as soon as you want to preserve your capital and just pick an objective daily on
the money that you want to make when 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 3 to five thousand dollars each week 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 after that I’ll increase it you know a couple years from now go up to a thousand try to make 3 to five thousand per trade and try to double my earnings okay 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 actually 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 wish to do is identify my wave count okay so if this is our beginning
very first pullback is two largest waves up to 3 pullback is 4 and after that the high is five and the method we can search for the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and then find my element 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 rate action comes down through