With low exchange fees. Okx Long And Short At The Same Time … With an account at, you can easily purchase crypto utilizing a card, savings account, or mobile wallet. It likewise uses extremely high yields sometimes when taking part in staking or conserving functions.
was founded in 2017 and maintains a head office in Seychelles, with extra offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
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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.
If you remain in a location that deals with OKX, you can develop an account that gives you access to trade 343 spot currencies.
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also supports margin borrowing, 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 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 space to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
breaks currencies down into different rates tiers that differ based upon 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 get approved for discounts. Alternatives, swaps, and futures have their own rate schedules with varying charges.
One big disadvantage of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, surprise cost information are a red flag that may send you to another exchange with transparent fee schedules.
Security
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 accidentally send funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security issues you don’t typically face with traditional banking platforms. The best practices for keeping your monetary accounts protected are comparable. These consist of utilizing strong passwords distinct to every site and app alongside 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 also has deals extra features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anybody outside of the United States. You will discover a familiar experience at OKX if you have actually 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 significance that if we’re wrong and it continues moving down we’re offering our position which we want to take earnings at this level what we wish to do is discover the difference between these values and that’s going to provide us.057 then we’re going to take the dollar quantity risk we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Long And Short At The Same Time
difference in between the stop and the entry okay which’s going to offer us the quantity of tokens that we need to purchase in order to run the risk of just 10 dollars all right if we’re just sharing 250 coins or a thousand coins we’re never going to have the ability to call in our threat reward and you’re going to definitely screw yourself so ensure that you’re not doing that you require to have that set dollar amount alright so that indicates that in order to discover the capital requirement or the quantity of cash that we require for this trade we need to take the quantity of coins and multiply it by the entry rate which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to offer us 587 dollars then we need to be able to enter this position when we’re utilizing utilize the only thing it’s altering is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I use a 100x utilize that implies now I have ten thousand dollars to use all right due to the fact that if we only had a hundred dollar account alright this 587 is currently 5x the size of our money value of our account which makes it difficult okay so let’s visit purchase bit here let’s say we want to take this ape trade here all right 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 all right and you’re gon na get this caution that the liquidation is high all right 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 alright so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account fine so this leverage capability is altering nothing about the threat profile on the trade all right if you plan on trading anyways use the referral Link in the description fine weekly we do a free gift where anyone trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars weekly we’re selecting three winners a week okay we’re trying to give the charges that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us connect is listed below you can check out our Discord where we announce the winners fine prior to we hop into the trading system that you can use to begin taking these trades I wish to discuss the guidelines that I would suggest using when growing a small account alright so the first guideline is begin with the dollar amount threat per trade 10 of beginning balance on a hundred dollar account usage that 10 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 comfy with the dollar quantity and use that there up until we scale our account up a bit bigger the 3rd thing and this is super important is everyone has a psychological limit when it comes to how much money 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 math states you’re going to start feeling a bit emotional about the trades and that’s something that you really wish to avoid until you come comfortable doing that alright so say you work your way approximately 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you fine you can walk that pull back to fifty dollars per trade pick that repaired quantity once you want to maintain your capital and simply pick a goal each day on
the money that you wish to make once you get up to a comfortable limit where it’s fitting your earnings objectives so for me personally you understand I like to make 3 that three to 5 thousand dollars weekly so I’m utilizing you know about 2.5 percent of my entire account balance right around twenty thousand dollars that I keep in my account and then 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 fine so let’s get into the support of the real trading this is a system that I have actually been trading the markets with for the past couple months that have definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was actually in Dubai all right however what I want to do is discover an area where I have actually a newly established uptrend first thing that I want to do is determine my wave count okay so if this is our start
very first pullback is two largest waves up to three pullback is four and after that the high is 5 and the way we can look for the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click on this link click back here and after that discover my factor 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 increase to the high of one if our cost action comes down through