With low exchange fees. Okx Short Tutorial … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. When taking part in staking or saving features, it likewise offers extremely high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The website declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulative and compliance concerns.
If you’re in an area that deals with OKX, you can create an account that gives you access to trade 343 spot currencies.
also supports margin loaning, 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 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 space 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 different pricing 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 might get approved for discounts. Options, swaps, and futures have their own rate schedules with differing fees.
One huge disadvantage of is that it does not disclose charges for withdrawals and deposits. While much of is transparent, concealed expense details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so constantly double-check deal information prior to continuing. You likely won’t recover any funds if you inadvertently send funds to the incorrect wallet address.
Cryptocurrency exchanges have some special security concerns you do not typically face with standard banking platforms. The best practices for keeping your financial accounts safe and secure are similar. These include using strong passwords distinct to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for a lot of customer possessions. It likewise has offers extra features like the capability to establish 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 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 meaning that if we’re wrong and it continues moving down we’re selling our position and that we want to take profit at this level what we want to do is find the difference in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Short Tutorial
distinction in between the entry and the stop all right and that’s going to offer us the quantity of tokens that we require to buy in order to run the risk of only 10 dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never ever going to be able to dial in our danger reward and you’re going to definitely screw yourself so make sure that you’re not doing that you need to have that set dollar amount okay so that suggests that in order to discover the capital requirement or the quantity of money that we need for this trade we have to take the quantity of coins and increase it by the entry cost which is this level here all right so in this case we’re going to take 175 coins increased by 3.35 which’s going to give us 587 dollars then we require to be able to enter this position when we’re using utilize the only thing it’s altering is how much cash we personally need to put into the trade so if I have a hundred dollar account and I use a 100x take advantage of that indicates now I have 10 thousand dollars to use fine due to the fact that if we only had a hundred dollar account fine this 587 is currently 5x the size of our cash value of our account that makes it difficult fine so let’s go over to buy bit here let’s state 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 see what occurs 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 running the risk of that 10 dollars you are safe and you’re doing the right thing alright so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account alright so this leverage ability is altering nothing about the danger profile on the trade all right if you plan on trading anyways use the referral Link in the description alright weekly we do a free gift where anybody trading with 50k volume or greater is
going to be automatically entered to win a hundred dollars weekly we’re picking three winners a week all right we’re attempting to offer the costs that we’re gathering from the affiliate program back into the neighborhood for you men trading with us link is below you can check out our Discord where we announce the winners alright prior to we hop into the trading system that you can utilize to begin taking these trades I want to discuss the guidelines that I would advise utilizing when growing a little account fine so the first guideline is start with the dollar amount risk per trade 10 of starting balance on a hundred dollar account use that ten dollar danger okay each time you double the account so when you go to 100 approximately 200 all right you want to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and use that there until we scale our account up a bit bigger the third 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 states you’re going to begin feeling a bit psychological about the trades and that’s something that you really wish to avoid up until you come comfy doing that alright so state you work your way as much as 200 to 500 to a thousand okay and then ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can walk that back down to fifty dollars per trade choice that repaired amount as soon as you wish to maintain your capital and simply pick a goal daily on
the cash that you wish to make when you get up to a comfy threshold where it’s fitting your income objectives so for me personally you know I like to make 3 that 3 to five thousand dollars per week 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 then I’ll increase it you understand a couple years from now move up to a thousand shot to make three to five thousand per trade and try to double my earnings alright so let’s get into the bread and butter of the actual trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was actually in Dubai all right but what I want to do is find a location where I have a recently developed uptrend first thing that I wish to do is identify my wave count all right so if this is our beginning
very first pullback is 2 biggest waves up to three pullback is four and after that the high is five 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 worth I’m gon na click here click back here and then discover 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 rate action comes down through