With low exchange charges. Unrealized P&L Okx … With an account at, you can easily purchase crypto utilizing a card, checking account, or mobile wallet. When taking part in staking or conserving features, it also provides exceptionally high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
You can produce an account that provides you access to trade 343 spot currencies if you’re in a location that works with OKX.
also supports margin loaning, 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into different 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. Swaps, futures, and choices have their own rate schedules with varying fees.
One big disadvantage of is that it doesn’t disclose charges for withdrawals and deposits. While much of is transparent, surprise expense information are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are usually one-way and can’t be reversed, so always double-check deal information before continuing. You likely won’t recuperate any funds if you inadvertently send funds to the incorrect wallet address.
Cryptocurrency exchanges have some distinct security issues you don’t typically confront with standard banking platforms. The finest practices for keeping your financial accounts safe and secure are comparable. These include using strong passwords special to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for most consumer possessions. It also has offers extra functions like the capability 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. If you’ve ever signed up for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wished 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 offering our position which we wish to take earnings at this level what we wish to do is find the distinction in between these worths which’s going to offer us.057 then we’re going to take the dollar quantity danger we want to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Unrealized P&L Okx
distinction between the entry and the stop okay and that’s going to give us the quantity of tokens that we need to purchase in order to risk only ten dollars alright if we’re simply sharing 250 coins or a thousand coins we’re never going to have the ability to dial in our danger benefit and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you require to have actually that set dollar quantity fine so that implies 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 increase it by the entry rate which is this level here alright so in this case we’re going to take 175 coins increased by 3.35 and that’s going to offer us 587 dollars then we require to be able to enter this position when we’re using take advantage of the only thing it’s changing is how much money we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that means now I have ten thousand dollars to use okay since if we only had a hundred dollar account alright this 587 is currently 5x the size of our cash worth of our account which makes it difficult all right so let’s go over to buy bit here let’s say we wish to take this ape trade here alright 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 our take advantage of 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 ideal thing okay so now only thing that we require to use for this position is twelve dollars which is 12 of our whole account okay so this utilize ability is altering nothing about the risk profile on the trade all right if you intend on trading anyways use the referral Link in the description okay every week we do a free gift where anybody trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars weekly we’re choosing 3 winners a week alright we’re trying to offer the fees that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is below you can check out our Discord where we announce the winners okay prior to we hop into the trading system that you can use to start taking these trades I wish to discuss the rules that I would suggest utilizing when growing a little account okay so the very first guideline is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that 10 dollar danger all right each time you double the account so when you go to 100 up to 200 fine 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 utilize that there until we scale our account up a bit bigger the 3rd thing and this is extremely essential is everybody has a mental limit when it pertains to just how much cash 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 emotional about the trades and that’s something that you truly want to avoid up until you come comfy doing that okay so state you work your method approximately 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you okay you can stroll that pull back to fifty dollars per trade pick that repaired quantity once you wish to maintain your capital and just select a goal per day on
the cash that you wish to make as soon as you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you understand I like to make three that 3 to five thousand dollars each week so I’m utilizing you understand about 2.5 percent of my whole 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 attempt to double my earnings okay 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 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 however what I wish to do is discover an area where I have actually a newly developed uptrend first thing that I want to do is determine my wave count all right so if this is our start
first pullback is 2 largest waves as much as 3 pullback is four and then the high is 5 and the way we can search for the top of 5 is by utilizing 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 after that discover my factor 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 boils down through