With low exchange costs. How To See Total P&L On Okx … With an account at, you can easily buy crypto utilizing a card, bank account, or mobile wallet. When participating in staking or conserving functions, it also offers remarkably high yields in some cases.
was founded in 2017 and maintains a headquarters in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
You can create an account that provides you access to trade 343 area currencies if you’re in an area that works with OKX.
Supports margin borrowing, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced items, 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s insufficient room to note them all in our OKX review. There are 343 currencies on the exchange total.
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 discounts.
One big disadvantage of is that it does not divulge costs for withdrawals and deposits. While much of is transparent, hidden expense information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check transaction details prior to continuing. You likely won’t recover any funds if you unintentionally send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security concerns you don’t typically face with conventional banking platforms. The best practices for keeping your financial accounts protected are comparable. These include utilizing 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 the majority of client properties. It also has offers extra functions like the ability 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 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 selling our position which we wish to take profit at this level what we want to do is find the distinction between these values which’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to run the risk of per trade which in this case is ten dollars and we’re going to divide it by the How To See Total P&L On Okx
distinction in between the entry and the stop fine which’s going to provide us the amount of tokens that we require to purchase in order to risk only ten dollars fine if we’re just sharing 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 definitely screw yourself so make sure that you’re not doing that you require to have actually that set dollar amount all right so that implies 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 increase it by the entry price 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 give us 587 dollars then we need to be able to enter into this position when we’re using leverage the only thing it’s changing is just how much money we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x utilize that suggests now I have 10 thousand dollars to utilize okay due to the fact that if we just had a hundred dollar account okay this 587 is currently 5x the size of our cash value of our account that makes it difficult all right so let’s visit buy bit here let’s say we want to take this ape trade here alright we need 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 utilize alright and you’re gon na get this caution that the liquidation is high all right as long as you’re measuring 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 just thing that we require to use for this position is twelve dollars which is 12 of our entire account okay so this take advantage of capability is changing absolutely nothing about the risk profile on the trade alright if you plan on trading anyways utilize the recommendation Link in the description fine 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 weekly we’re choosing 3 winners a week okay we’re trying to give the charges that we’re collecting from the affiliate program back into the neighborhood for you men trading with us link is listed below you can have a look at our Discord where we reveal the winners alright before we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the rules that I would suggest using when growing a small account okay so the first rule is start with the dollar amount threat per trade 10 of starting balance on a hundred dollar account usage that ten dollar threat all right each time you double the account so when you go to 100 approximately 200 okay you want to move that as much as 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 bit larger the third thing and this is very crucial is everyone has a psychological threshold when it comes to just how much cash they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the math says you’re going to begin feeling a little bit emotional about the trades which’s something that you actually want to prevent up until you come comfy doing that all right so state you work your method up to 200 to 500 to a thousand fine and after that ten percent of a thousand is a hundred dollars per trade and that’s excessive for you alright you can stroll that back down to fifty dollars per trade pick that repaired amount when you wish to preserve your capital and simply pick an objective daily on
the money that you want to make when you get up to a comfortable threshold where it’s fitting your earnings goals so for me personally you know I like to make 3 that 3 to 5 thousand dollars per week 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 then I’ll increase it you understand a couple years from now move up to a thousand shot to make three to five thousand per trade and attempt to double my earnings fine so let’s get into the bread and butter of the actual trading this is a system that I have actually been trading the markets with for the past couple months that have absolutely 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 however what I want to do is find an area where I have actually a newly established uptrend first thing that I wish to do is identify my wave count fine so if this is our start
very first pullback is two biggest waves approximately three pullback is four and after that the high is 5 and the method we can try to find the top of five is by using 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 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 boils down through