With low exchange costs. Okx Profit And Loss … With an account at, you can quickly buy crypto using a card, checking account, or mobile wallet. It also provides extremely high yields in some cases when taking part in staking or saving functions.
was founded in 2017 and keeps a headquarters in Seychelles, with extra workplaces worldwide. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
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The website claims over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance concerns.
You can produce an account that gives you access to trade 343 spot currencies if you’re in a location that works with OKX.
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Supports margin borrowing, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining 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 inadequate space to note them all in our OKX evaluation. There are 343 currencies on the exchange overall.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
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 qualify for discounts.
One big drawback of is that it does not disclose charges for deposits and withdrawals. While much of is transparent, hidden expense information are a warning that may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency deals are typically one-way and can’t be reversed, so always double-check transaction details before continuing. If you unintentionally send out funds to the incorrect wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some distinct security concerns you do not typically confront with conventional banking platforms. The best practices for keeping your monetary accounts secure are comparable. These include using strong passwords distinct to every website and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer for the majority of consumer assets. It likewise has offers extra functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone outside of 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 and that we want to take revenue at this level what we wish to do is find the difference between these values and that’s going to provide us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is 10 dollars and we’re going to divide it by the Okx Profit And Loss
difference in between the entry and the stop all right and that’s going to offer us the quantity of tokens that we need to buy in order to risk only 10 dollars alright if we’re just going in with 250 coins or a thousand coins we’re never ever going to be able to dial in our threat benefit and you’re going to absolutely screw yourself so ensure that you’re refraining from doing that you require to have that set dollar amount okay so that means 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 fine so in this case we’re going to take 175 coins multiplied by 3.35 which’s going to provide us 587 dollars then we need to be able to enter into this position when we’re using take advantage of the only thing it’s changing is how much cash we personally need to take into the trade so if I have a hundred dollar account and I use a 100x take advantage of that implies now I have ten thousand dollars to use okay because if we just had a hundred dollar account all right this 587 is already 5x the size of our cash value of our account that makes it impossible alright so let’s visit purchase bit here let’s state 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 view what occurs when we open our take advantage of fine and you’re gon na get this caution that the liquidation is high okay as long as you’re quantifying you’re entering your exit and you’re risking that 10 dollars you are safe and you’re doing the ideal thing all right so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account all right so this leverage capability is changing absolutely nothing about the danger profile on the trade okay if you intend on trading anyways use the recommendation Link in the description alright every week we do a free gift where anybody trading with 50k volume or greater is
going to be automatically gone into to win a hundred dollars each week we’re choosing three winners a week alright we’re attempting to give the fees that we’re collecting from the affiliate program back into the community for you men trading with us connect is listed below you can check out our Discord where we reveal the winners okay before 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 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 usage that 10 dollar risk alright each time you double the account so when you go to 100 as much as 200 okay you want 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 till we scale our account up a bit bigger the third thing and this is very crucial is everyone has a psychological limit when it pertains to just how much cash they’re comfortable risking if I’m looking 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 math states you’re going to start feeling a little bit emotional about the trades which’s something that you truly want to prevent until you come comfortable doing that okay so state you work your way up to 200 to 500 to a thousand alright and after that ten percent of a thousand is a hundred dollars per trade which’s excessive for you alright you can stroll that back down to fifty dollars per trade choice that repaired quantity when you want to protect your capital and simply choose a goal per day on
the cash that you wish to make once you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you understand I like to make three that three to 5 thousand dollars per week so I’m using 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 understand a couple years from now move up to a thousand try to make three to 5 thousand per trade and try to double my earnings alright so let’s get into the bread and butter of the real trading this is a system that I’ve been trading the marketplaces with for the past couple months that have actually absolutely 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 all right but what I wish to do is discover a location where I have actually a freshly developed uptrend first thing that I want to do is recognize my wave count all right so if this is our start
very first pullback is 2 biggest waves up to 3 pullback is four and after that the high is five and the way we can look for the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one value I’m gon na click here click back here and after that find 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 go up to the high of one if our rate action comes down through