With low exchange fees. How Long Can You Keep A Position Open On Okx … With an account at, you can quickly buy crypto using a card, checking account, or mobile wallet. It likewise offers remarkably high yields sometimes when taking part in staking or conserving features.
was founded in 2017 and maintains a head office in Seychelles, with additional workplaces around the globe. According to CoinMarketCap, is the 18th largest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance issues.
If you’re in an area that deals with OKX, you can produce an account that provides you access to trade 343 spot currencies.
Supports margin borrowing, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced products, such as mining 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 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 total.
Currencies traded on by volume:
breaks currencies down into various rates tiers that vary 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 might get approved for discount rates. Futures, alternatives, and swaps have their own rate schedules with varying costs.
One big drawback of is that it doesn’t divulge fees for withdrawals and deposits. While much of is transparent, concealed cost details are a warning that might send you to another exchange with transparent cost schedules.
Cryptocurrency deals are usually one-way and can’t be reversed, so always double-check transaction details prior to proceeding. You likely will not recover any funds if you mistakenly send out funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security concerns you do not typically face with traditional banking platforms. However, the best practices for keeping your financial accounts safe and secure are similar. These consist of using strong passwords distinct to every website and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of cold storage for a lot of customer properties. It likewise has deals extra features like the capability to set up 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 market 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 offering our position and that we wish to take revenue at this level what we want to do is find the distinction in between these values which’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 10 dollars and we’re going to divide it by the How Long Can You Keep A Position Open On Okx
distinction in between the entry and the stop okay which’s going to give us the amount of tokens that we require to buy in order to run the risk of only 10 dollars alright if we’re simply going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our risk benefit and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you need to have that set dollar amount okay so that suggests that in order to find the capital requirement or the amount of money that we require for this trade we have to take the quantity of coins and multiply it by the entry price 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 need to be able to get into 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 because if we just had a hundred dollar account okay this 587 is currently 5x the size of our money worth of our account which makes it difficult fine so let’s visit purchase bit here let’s say we want to take this ape trade here okay we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what takes place when we open our leverage fine and you’re gon na get this warning that the liquidation is high okay as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing fine so now only thing that we need to utilize for this position is twelve dollars which is 12 of our whole account all right so this take advantage of capability is changing absolutely nothing about the risk profile on the trade fine if you plan on trading anyways utilize the recommendation Link in the description alright each week we do a giveaway where anyone trading with 50k volume or higher is
going to be automatically gotten in to win a hundred dollars weekly we’re picking three winners a week alright we’re attempting to give the fees that we’re gathering from the affiliate program back into the neighborhood for you people trading with us connect is 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 utilize to start taking these trades I want to discuss the rules that I would suggest utilizing when growing a small account alright so the first rule is begin with the dollar quantity risk per trade 10 of beginning balance on a hundred dollar account usage that 10 dollar danger all right each time you double the account so when you go to 100 approximately 200 all right you wish to move that up to the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar amount and use that there until we scale our account up a little bit larger the 3rd thing and this is very essential is everybody has a psychological threshold when it concerns how much cash they’re comfortable running the risk of if I’m taking a look 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 states you’re going to start feeling a bit psychological about the trades which’s something that you really want to avoid up until you come comfortable doing that alright so say you work your way approximately 200 to 500 to a thousand alright and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you fine you can stroll that back down to fifty dollars per trade pick that fixed quantity as soon as you wish to preserve your capital and just choose a goal each day on
the money that you want to make once you get up to a comfy limit where it’s fitting your income objectives so for me personally you know I like to make three that 3 to 5 thousand dollars per week 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 after that I’ll increase it you know a couple years from now move up to a thousand shot to make 3 to five thousand per trade and attempt to double my income okay so let’s get into the support of the real trading this is a system that I’ve 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 in fact in Dubai fine however what I wish to do is find an area where I have actually a newly developed uptrend first thing that I want to do is determine my wave count okay so if this is our start
first pullback is 2 biggest waves as much as 3 pullback is four and after that the high is 5 and the method we can look 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 here 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 go up to the high of one if our price action comes down through