With low exchange charges. How To Set Stop Loss On Okx … With an account at, you can easily buy crypto utilizing a card, savings account, or mobile wallet. When getting involved in staking or saving features, it also uses remarkably high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional workplaces around the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The website 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.
If you remain in a location that deals with OKX, you can develop an account that offers you access to trade 343 spot currencies.
also supports margin borrowing, earning cryptocurrency through staking and 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 place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that vary 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 may receive discount rates. Alternatives, swaps, and futures have their own rate schedules with differing charges.
One big disadvantage of is that it doesn’t disclose fees for withdrawals and deposits. While much of is transparent, surprise cost information are a red flag that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check deal details prior to proceeding. You likely will not recover any funds if you mistakenly send out funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security issues you do not usually confront with traditional banking platforms. The best practices for keeping your financial 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 uses industry-standard security practices, consisting of cold storage for the majority of consumer assets. It also has offers additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody beyond the United States. If you’ve ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will find a familiar experience at OKX.
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 and that we wish to take earnings at this level what we wish to do is discover the distinction in between these worths which’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the How To Set Stop Loss On Okx
difference in between the stop and the entry fine and that’s going to give us the amount of tokens that we require to buy in order to risk only 10 dollars alright 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 risk reward and you’re going to absolutely screw yourself so make sure that you’re not doing that you need to have actually that set dollar quantity okay so that means that in order to discover the capital requirement or the quantity of money that we need for this trade we have to take the amount of coins and increase it by the entry cost which is this level here okay so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to provide us 587 dollars then we need to be able to enter this position when we’re utilizing take advantage of the only thing it’s changing is 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 use okay because if we only had a hundred dollar account all right this 587 is already 5x the size of our cash worth of our account that makes it difficult okay so let’s visit buy bit here let’s say 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 enjoy what occurs when we open our leverage fine and you’re gon na get this caution that the liquidation is high all right as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the right thing fine so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account fine so this utilize capability is changing absolutely nothing about the danger profile on the trade okay if you intend on trading anyways utilize the recommendation Link in the description okay every week we do a giveaway where anyone trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars weekly we’re choosing 3 winners a week fine we’re trying to give the fees that we’re collecting from the affiliate program back into the community for you men trading with us connect is below you can take a look at our Discord where we announce the winners fine prior to 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 advise utilizing when growing a little account okay so the first guideline is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that ten dollar threat alright each time you double the account so when you go to 100 as much as 200 okay you want to move that as much as the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and use that there until we scale our account up a little bit larger the 3rd thing and this is super essential is everybody has a mental threshold when it comes to 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 3 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 which’s something that you truly want to prevent till you come comfortable doing that okay so say you work your method approximately 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you okay you can walk that pull back to fifty dollars per trade choice that fixed amount once you want to maintain your capital and simply choose an objective per day on
the cash that you wish to make when you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you know I like to make 3 that 3 to five thousand dollars weekly so I’m using you understand 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 shot to make three to 5 thousand per trade and attempt to double my income fine so let’s enter the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have actually definitely been nailing trades with I’m gon na reveal you among the setups that I had on xrp when I was actually in Dubai fine however what I wish to do is discover a location where I have actually a freshly established uptrend first thing that I want to do is identify my wave count okay so if this is our beginning
first pullback is 2 biggest waves up to 3 pullback is 4 and then the high is 5 and the method 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 worth I’m gon na click on this link click back here and then find my factor of one and you can see the cost 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 rate action boils down through