With low exchange fees. How To Leverage Trade On Okx … With an account at, you can easily buy crypto utilizing a card, bank account, or mobile wallet. It likewise uses exceptionally high yields in some cases when participating in staking or saving functions.
was founded in 2017 and preserves a head office in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The site claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulatory and compliance concerns.
If you’re in a location that works with OKX, you can develop an account that provides you access to trade 343 spot currencies.
Supports margin borrowing, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, 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 primary place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s inadequate 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 pricing tiers that vary 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 receive discount rates. Alternatives, futures, and swaps have their own rate schedules with differing costs.
One big disadvantage of is that it does not disclose charges for deposits and withdrawals. While much of is transparent, concealed cost information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal information before proceeding. If you inadvertently send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some distinct security concerns you do not generally confront with standard banking platforms. The finest practices for keeping your monetary accounts secure are similar. These consist of using strong passwords special to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for many client possessions. It also has deals additional functions 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. If you’ve ever registered 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 revenue at this level what we want to do is discover the distinction between these values which’s going to provide us.057 then we’re going to take the dollar quantity threat 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 How To Leverage Trade On Okx
difference between the stop and the entry okay and that’s going to give us the quantity of tokens that we require to buy in order to run the risk of just 10 dollars alright if we’re simply going in with 250 coins or a thousand coins we’re never going to have the ability to call in our risk reward 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 alright so that suggests 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 cost which is this level here fine so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to offer us 587 dollars then we need to be able to enter this position when we’re utilizing leverage the only thing it’s changing is just how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x utilize that implies 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 already 5x the size of our money worth of our account which makes it impossible fine so let’s visit purchase bit here let’s say 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 enjoy what happens when we open our leverage okay and you’re gon na get this caution that the liquidation is high alright as long as you’re measuring you’re entering your exit and you’re running the risk of that 10 dollars you are safe and you’re doing the best thing okay so now only thing that we need to use for this position is twelve dollars which is 12 of our whole account fine so this utilize capability is altering absolutely nothing about the risk profile on the trade fine if you intend on trading anyways utilize the referral Link in the description fine each week we do a giveaway where anyone trading with 50k volume or greater is
going to be instantly gone into to win a hundred dollars per week we’re selecting 3 winners a week alright we’re trying to offer the costs that we’re gathering from the affiliate program back into the community for you guys trading with us link is below you can take a look at our Discord where we reveal 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 recommend using when growing a small account okay so the very first guideline is start with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account use that 10 dollar threat fine each time you double the account so when you go to 100 approximately 200 alright you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar amount and use that there till we scale our account up a bit larger the 3rd thing and this is incredibly crucial is everyone has a psychological limit when it concerns just 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 says you’re going to start feeling a bit psychological about the trades and that’s something that you truly wish to prevent up until you come comfy doing that all right so say you work your way up to 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 fine you can stroll that pull back to fifty dollars per trade choice that repaired amount when you wish to maintain your capital and just select a goal per day on
the cash that you want to make once you get up to a comfy threshold where it’s fitting your earnings goals so for me personally you know I like to make 3 that three to 5 thousand dollars weekly so I’m utilizing you understand 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 go up to a thousand shot to make three to five thousand per trade and attempt to double my income okay so let’s get into the support of the actual 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 among the setups that I had on xrp when I was really in Dubai all right but what I wish to do is discover an area where I have actually a freshly established uptrend first thing that I want to do is identify my wave count okay so if this is our start
very first pullback is two largest waves as much as 3 pullback is 4 and after that the high is 5 and the way we can search for the top of 5 is by utilizing a Fibonacci forecast 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 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 rate action comes down through