With low exchange fees. Can You Put Stop Loss On Okx … With an account at, you can easily buy crypto using a card, bank account, or mobile wallet. When participating in staking or conserving functions, it also provides incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional workplaces worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance concerns.
If you’re in a location that deals with OKX, you can develop an account that gives you access to trade 343 spot currencies.
Supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could work as an exchange you use 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 not enough space to note them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For area trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency might qualify for discount rates.
One huge downside of is that it does not divulge costs for deposits and withdrawals. While much of is transparent, surprise expense details are a warning that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so always double-check deal information before continuing. If you mistakenly send funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security issues you do not typically face with conventional banking platforms. However, the very best practices for keeping your monetary accounts safe are comparable. These include using strong passwords unique 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 cold storage for most consumer possessions. It also has deals extra features like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you have actually ever registered for another cryptocurrency exchange or stock exchange brokerage account, you will discover a familiar experience at OKX.
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 and that we wish to take profit at this level what we want to do is find the distinction in 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 Can You Put Stop Loss On Okx
difference between the stop and the entry okay and that’s going to provide us the quantity of tokens that we require to buy in order to run the risk of only ten dollars all right if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to call in our risk benefit and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you need to have actually that set dollar amount alright so that suggests that in order to find the capital requirement or the amount of cash that we require for this trade we need to take the amount of coins and increase it by the entry cost which is this level here alright so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to provide us 587 dollars then we need to be able to enter this position when we’re utilizing leverage the only thing it’s altering is how much money we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that implies now I have 10 thousand dollars to use okay since if we only had a hundred dollar account alright this 587 is already 5x the size of our cash value of our account which makes it impossible alright so let’s go over to buy bit here let’s state we want to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now view what happens when we open up our utilize all right and you’re gon na get this warning that the liquidation is high alright as long as you’re quantifying you’re entering your exit and you’re risking that ten dollars you are safe and you’re doing the ideal thing okay so now just thing that we need to utilize for this position is twelve dollars which is 12 of our whole account okay so this utilize ability is changing absolutely nothing about the risk profile on the trade fine if you intend on trading anyways use the recommendation Link in the description alright every week we do a giveaway where anyone trading with 50k volume or greater is
going to be immediately entered to win a hundred dollars per week we’re choosing 3 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 men trading with us link is listed below you can take a look at our Discord where we announce the winners all right before we hop into the trading system that you can use to start taking these trades I want to review the rules that I would advise using when growing a little account all right so the first rule is begin with the dollar amount threat per trade 10 of starting balance on a hundred dollar account usage that 10 dollar risk alright each time you double the account so when you go to 100 as much as 200 all right you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and utilize that there till we scale our account up a little bit bigger the 3rd thing and this is incredibly crucial is everybody has a psychological threshold 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 mathematics says you’re going to begin feeling a little bit emotional about the trades and that’s something that you truly wish to prevent up until you come comfortable doing that alright so say you work your method approximately 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you all right you can stroll that back down to fifty dollars per trade pick that repaired quantity as soon as you want to maintain your capital and simply pick an objective each day on
the cash that you want to make when you get up to a comfortable threshold where it’s fitting your income objectives so for me personally you understand I like to make three that 3 to five thousand dollars per week so I’m utilizing you learn about 2.5 percent of my whole account balance right around twenty thousand dollars that I keep in my account and after that I’ll increase it you know a couple years from now go up to a thousand try to make 3 to five thousand per trade and try to double my earnings all right so let’s enter 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 reveal you one of the setups that I had on xrp when I was in fact in Dubai all right however what I wish to do is discover an area where I have a newly developed uptrend first thing that I want to do is recognize my wave count fine so if this is our beginning
first pullback is two largest waves up to three pullback is 4 and after that the high is 5 and the method we can search for the top of five is by using a Fibonacci forecast 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 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