With low exchange fees. How To Margin Trade On Okx … 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 uses incredibly high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices around the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
The website declares over 20 million users in more than 100 countries. They do not 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 an area that works with OKX.
likewise supports margin loaning, earning cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, 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 primary location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient space to list them all in our OKX review. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may certify for discounts.
One big downside of is that it doesn’t divulge charges for deposits and withdrawals. While much of is transparent, surprise expense information are a red flag that may send you to another exchange with transparent charge schedules.
Cryptocurrency deals are generally one-way and can’t be reversed, so constantly double-check deal details before continuing. If you mistakenly send out funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security issues you do not generally confront with traditional banking platforms. Nevertheless, the best practices for keeping your monetary accounts protected are similar. These consist of utilizing strong passwords unique to every site and app alongside a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including cold storage for a lot of consumer assets. It also has offers additional 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’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 selling our position which we want to take revenue at this level what we wish to do is discover the distinction in between these worths which’s going to give us.057 then we’re going to take the dollar amount risk we want to risk per trade which in this case is ten dollars and we’re going to divide it by the How To Margin Trade On Okx
difference between the stop and the entry okay and that’s going to give us the quantity of tokens that we need to purchase in order to run the risk of only 10 dollars all right if we’re simply going in with 250 coins or a thousand coins we’re never ever going to have the ability to dial in our risk reward and you’re going to definitely screw yourself so make sure that you’re not doing that you require to have that set dollar amount all right so that means that in order to find the capital requirement or the quantity of money that we need for this trade we need to take the amount of coins and multiply it by the entry price which is this level here all right so in this case we’re going to take 175 coins multiplied by 3.35 and that’s going to give us 587 dollars then we require to be able to enter into this position when we’re utilizing leverage the only thing it’s altering is just 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 implies now I have 10 thousand dollars to utilize 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 difficult fine so let’s visit purchase bit here let’s state we wish to take this ape trade here all right we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open our leverage alright 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 ten dollars you are safe and you’re doing the ideal thing alright so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account okay so this utilize ability is changing nothing about the danger profile on the trade okay if you plan on trading anyways use the recommendation Link in the description alright weekly we do a free gift where anyone trading with 50k volume or higher is
going to be immediately entered to win a hundred dollars each week we’re picking three 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 people trading with us link is below you can take a look at our Discord where we announce the winners alright prior to we hop into the trading system that you can utilize to start taking these trades I want to discuss the guidelines that I would recommend utilizing when growing a small account fine so the first rule is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar danger all right each time you double the account so when you go to 100 up to 200 okay you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there until we scale our account up a little bit bigger the third thing and this is super essential is everybody has a psychological limit when it concerns just how much money they’re comfortable risking 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 math states you’re going to begin feeling a little bit psychological about the trades and that’s something that you really want to prevent until you come comfy doing that alright so say you work your method approximately 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 stroll that pull back to fifty dollars per trade pick that repaired amount once you wish to protect your capital and just pick an objective each day on
the money that you wish to make when you get up to a comfy limit where it’s fitting your income goals so for me personally you understand I like to make three that 3 to 5 thousand dollars each week so I’m utilizing you learn 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 try to double my earnings okay so let’s enter the bread and butter 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 reveal you one of the setups that I had on xrp when I was actually in Dubai alright however what I wish to do is find a location where I have actually a freshly developed uptrend first thing that I want to do is identify my wave count okay so if this is our start
first pullback is two biggest waves approximately 3 pullback is four and after that the high is 5 and the method we can look for the top of 5 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 then find my element 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 go up to the high of one if our cost action comes down through