With low exchange charges. How To Trade Leverage On Okx … With an account at, you can quickly buy crypto utilizing a card, bank account, or mobile wallet. When getting involved in staking or saving functions, it likewise offers incredibly high yields in some cases.
was founded in 2017 and keeps a head office in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance issues.
If you remain in an area that deals with OKX, you can create an account that provides you access to trade 343 area 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 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 note them all in our OKX review. There are 343 currencies on the exchange total.
Currencies traded on by volume:
breaks currencies down into different prices 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 discounts. Futures, swaps, and alternatives have their own rate schedules with differing costs.
One big downside of is that it does not reveal costs for deposits and withdrawals. While much of is transparent, covert expense details are a warning that may send you to another exchange with transparent cost schedules.
Cryptocurrency transactions are typically one-way and can’t be reversed, so always double-check deal details before proceeding. If you unintentionally send out funds to the incorrect wallet address, you likely will not recover any funds.
Cryptocurrency exchanges have some special security concerns you don’t generally confront with standard banking platforms. Nevertheless, the very best practices for keeping your financial accounts secure are similar. These include using strong passwords unique to every website and app together with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, including freezer 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 easy for anyone beyond the United States. If you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account, you will discover a familiar experience at OKX.
wished to buy 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 and that we wish to take revenue at this level what we wish to do is find the difference between these values and that’s going to offer us.057 then we’re going to take the dollar amount danger we want 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 Trade Leverage On Okx
difference between the entry and the stop all right and that’s going to offer us the amount of tokens that we need to buy in order to run the risk of just 10 dollars okay if we’re simply sharing 250 coins or a thousand coins we’re never going to be able to dial in our risk benefit and you’re going to absolutely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar amount all right so that indicates that in order to find the capital requirement or the amount of cash that we need for this trade we need to take the amount of coins and increase it by the entry cost which is this level here all right so in this case we’re going to take 175 coins increased by 3.35 which’s going to offer us 587 dollars then we need to be able to get into this position when we’re utilizing leverage the only thing it’s altering is how much cash we personally require to take into the trade so if I have a hundred dollar account and I use a 100x leverage that indicates now I have ten thousand dollars to use alright because if we only had a hundred dollar account okay this 587 is currently 5x the size of our cash value of our account that makes it difficult alright so let’s go over to buy bit here let’s say we want to take this ape trade here fine we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what happens when we open up our utilize alright and you’re gon na get this warning that the liquidation is high alright 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 fine so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account okay so this utilize capability is changing absolutely nothing about the risk profile on the trade all right if you plan on trading anyways use the recommendation Link in the description okay every week we do a free gift where anyone trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars per week we’re choosing 3 winners a week all right we’re attempting to give the costs that we’re gathering from the affiliate program back into the neighborhood for you guys trading with us link is listed below you can have a look at our Discord where we reveal the winners okay prior to we hop into the trading system that you can utilize to start taking these trades I wish to discuss the rules that I would suggest using when growing a little account fine so the first rule is begin with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account use that 10 dollar risk alright each time you double the account so when you go to 100 as much as 200 all right you wish to move that approximately the 10 of the 200 moving it to the 20 per trade limit get comfortable with the dollar quantity and utilize that there till we scale our account up a bit bigger the third thing and this is very crucial is everybody has a mental threshold when it comes to just how much money they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the mathematics says you’re going to begin feeling a little bit psychological about the trades and that’s something that you actually want to prevent till you come comfy doing that fine so state you work your way as much as 200 to 500 to a thousand all right and after that ten percent of a thousand is a hundred dollars per trade which’s too much for you all right you can walk that back down to fifty dollars per trade choice that fixed quantity once you want to maintain your capital and simply pick a goal per day on
the money that you want to make when you get up to a comfortable limit where it’s fitting your earnings goals so for me personally you understand I like to make 3 that three to 5 thousand dollars per week so I’m using you learn about 2.5 percent of my whole 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 try to make three to five thousand per trade and attempt to double my earnings fine 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 actually definitely been nailing trades with I’m gon na reveal you one of the setups that I had on xrp when I was really in Dubai fine however what I wish to do is discover a location where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count fine so if this is our start
first pullback is two largest waves approximately three pullback is four and then the high is five and the way we can look for the top of 5 is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click here click back here and then discover my element 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 increase to the high of one if our price action boils down through