With low exchange costs. Okx Position Margin Explained … With an account at, you can quickly buy crypto utilizing a card, checking account, or mobile wallet. When taking part in staking or saving features, it also offers exceptionally high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces 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 countries. They do not take users from the United States due to regulatory and compliance concerns.
If you’re in a location that works with OKX, you can develop an account that offers you access to trade 343 spot currencies.
Supports margin loaning, earning cryptocurrency through staking and 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 main location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate room to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different rates 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 may receive discounts. Futures, options, and swaps have their own rate schedules with varying costs.
One big downside of is that it doesn’t reveal fees for deposits and withdrawals. While much of is transparent, surprise expense information are a warning that might send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check transaction details before continuing. You likely will not recuperate any funds if you unintentionally send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you do not usually confront with conventional banking platforms. Nevertheless, the very best practices for keeping your monetary accounts safe and secure are similar. These consist of utilizing 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, including freezer for most customer assets. It also has deals additional functions 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 find a familiar experience at OKX if you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account.
wished 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 offering 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 and that’s going to offer us.057 then we’re going to take the dollar amount threat we want to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the Okx Position Margin Explained
distinction between the entry and the stop fine which’s going to give 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 just going in with 250 coins or a thousand coins we’re never ever going to be able to call in our threat benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you need to have that set dollar amount fine so that means that in order to find the capital requirement or the quantity of cash that we need 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 multiplied by 3.35 which’s going to give us 587 dollars then we need to be able to enter into this position when we’re utilizing leverage the only thing it’s changing is just how much money we personally need to take 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 use alright because if we just had a hundred dollar account fine this 587 is already 5x the size of our money value of our account which makes it difficult fine so let’s go over to purchase bit here let’s state we wish 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 takes place when we open up our utilize fine and you’re gon na get this warning that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the ideal thing okay so now just thing that we need to use for this position is twelve dollars which is 12 of our entire account all right so this take advantage of capability is altering absolutely nothing about the risk profile on the trade alright if you plan on trading anyways utilize the referral Link in the description fine weekly we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars per week we’re picking 3 winners a week okay we’re attempting to provide the costs that we’re gathering from the affiliate program back into the community for you guys trading with us link is listed below you can take a look at our Discord where we announce the winners alright 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 suggest utilizing when growing a little account all right so the very first rule is begin with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account use that ten dollar risk fine 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 use that there up until we scale our account up a bit bigger the third thing and this is incredibly essential is everybody has a psychological limit when it concerns just how much money 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 mathematics says you’re going to begin feeling a little bit emotional about the trades and that’s something that you really want to prevent till you come comfy doing that okay so state you work your way up to 200 to 500 to a thousand all right and then ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can stroll that pull back to fifty dollars per trade pick that repaired amount once you wish to protect your capital and simply select an objective daily on
the money that you want to make once 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 five thousand dollars each 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 shot to make 3 to five thousand per trade and attempt to double my earnings fine so let’s get into the support of the actual 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 one of the setups that I had on xrp when I was really in Dubai alright however what I wish to do is find a location where I have a freshly developed uptrend first thing that I want to do is identify my wave count fine so if this is our start
first pullback is 2 biggest waves up to 3 pullback is four and after that the high is 5 and the method we can look for the top of five is by utilizing 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 then find my element 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 increase to the high of one if our price action comes down through