With low exchange charges. How To Flip Short From A Long Okx … With an account at, you can quickly purchase crypto using a card, savings account, or mobile wallet. When participating in staking or saving features, it likewise offers incredibly high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance issues.
You can create an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you utilize in addition to a third-party cryptocurrency wallet or your primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to list 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 may certify for discounts.
One huge disadvantage of is that it doesn’t reveal fees for withdrawals and deposits. While much of is transparent, hidden cost information are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so constantly double-check transaction information before continuing. If you mistakenly send funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some unique security issues you don’t usually confront with conventional banking platforms. The best practices for keeping your monetary accounts safe and secure are similar. These include utilizing strong passwords distinct to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for most client properties. It likewise has offers extra features like the ability to set up 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.
wanted 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 wish to take revenue at this level what we want to do is discover the difference in between these worths which’s going to provide us.057 then we’re going to take the dollar quantity danger 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 How To Flip Short From A Long Okx
distinction in between the stop and the entry alright which’s going to offer us the quantity 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 going to have the ability to call in our danger benefit and you’re going to definitely screw yourself so make certain that you’re not doing that you require to have that set dollar quantity all right so that implies that in order to discover the capital requirement or the quantity of money that we require for this trade we have to take the amount of coins and multiply it by the entry rate which is this level here okay so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to offer us 587 dollars then we need to be able to get into this position when we’re using take advantage of the only thing it’s changing is just how much money 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 10 thousand dollars to utilize fine since if we just had a hundred dollar account all right this 587 is currently 5x the size of our money value of our account that makes it difficult alright so let’s visit purchase bit here let’s say we want to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what takes place when we open up our utilize okay 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 10 dollars you are safe and you’re doing the ideal thing fine so now just thing that we need to utilize for this position is twelve dollars which is 12 of our whole account all right so this utilize ability is altering nothing about the danger profile on the trade all right if you plan on trading anyways use the recommendation Link in the description okay weekly we do a giveaway where anyone trading with 50k volume or greater is
going to be instantly entered to win a hundred dollars each week we’re choosing 3 winners a week okay we’re trying to give the fees that we’re collecting from the affiliate program back into the community for you guys trading with us link is below you can take a look at our Discord where we reveal the winners alright before we hop into the trading system that you can utilize to begin taking these trades I wish to go over the guidelines that I would recommend utilizing when growing a little account alright so the very first rule is start with the dollar quantity danger per trade 10 of beginning balance on a hundred dollar account use that 10 dollar danger alright each time you double the account so when you go to 100 up to 200 fine you wish to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there till we scale our account up a bit larger the 3rd thing and this is extremely essential is everyone has a psychological limit when it concerns just how much money they’re comfortable running the risk of 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 bit emotional about the trades and that’s something that you truly want to prevent up until you come comfortable doing that okay so state you work your way up to 200 to 500 to a thousand fine and after that 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 repaired amount once you want to protect your capital and just select a goal per day on
the money that you wish to make when you get up to a comfy limit where it’s fitting your income goals so for me personally you know I like to make three that three to five thousand dollars each week so I’m using you know about 2.5 percent of my entire 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 move up to a thousand try to make 3 to five thousand per trade and try to double my income all right so let’s enter into the support 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 reveal you among the setups that I had on xrp when I was really in Dubai fine however what I want to do is find an area where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count fine so if this is our start
first pullback is two largest waves approximately three pullback is 4 and then the high is 5 and the way we can look for the top of five 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 then find 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 comes down through