With low exchange fees. Okx Max Position Size … With an account at, you can quickly purchase crypto utilizing a card, savings account, or mobile wallet. It likewise uses remarkably high yields in some cases when taking part in staking or saving features.
was founded in 2017 and keeps a headquarters in Seychelles, with additional offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange in the world by volume.
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The website declares over 20 million users in more than 100 nations. They do not take users from the United States due to regulatory and compliance concerns.
You can create 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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likewise supports margin loaning, earning cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining swimming pools and its own blockchain, called OKExChain. might work as an exchange you utilize 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 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 might certify for discounts.
One big disadvantage of is that it does not disclose fees for deposits and withdrawals. While much of is transparent, surprise cost information are a warning that may send you to another exchange with transparent charge schedules.
Security
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check deal information prior to continuing. If you unintentionally send funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security issues you don’t usually face with standard banking platforms. The finest practices for keeping your financial accounts secure are comparable. 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 cold storage for many consumer assets. It also has deals 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 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.
wished 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 and that we want to take revenue at this level what we wish to do is find the distinction in between these worths and that’s going to give us.057 then we’re going to take the dollar quantity risk we wish to run the risk of per trade which in this case is 10 dollars and we’re going to divide it by the Okx Max Position Size
difference in between the entry and the stop alright and that’s going to provide us the amount of tokens that we need to purchase in order to risk only ten dollars fine 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 risk benefit and you’re going to absolutely screw yourself so ensure that you’re not doing that you need to have that set dollar quantity all right so that indicates that in order to find the capital requirement or the quantity of money that we require for this trade we need to take the amount of coins and multiply 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 provide us 587 dollars then we need to be able to enter into this position when we’re utilizing take advantage of the only thing it’s changing is just how much cash we personally require to take into the trade so if I have a hundred dollar account and I utilize a 100x leverage that indicates now I have ten thousand dollars to utilize alright since if we only had a hundred dollar account okay this 587 is currently 5x the size of our money value of our account that makes it difficult alright so let’s visit purchase bit here let’s say we wish 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 watch what occurs when we open our utilize all right and you’re gon na get this caution that the liquidation is high okay 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 best thing fine so now only thing that we need to use for this position is twelve dollars which is 12 of our entire account all right so this utilize ability is altering absolutely nothing about the risk profile on the trade okay if you plan on trading anyways use the recommendation Link in the description all right every week we do a giveaway where anybody trading with 50k volume or higher is
going to be instantly entered to win a hundred dollars per week we’re selecting 3 winners a week fine we’re trying to offer the costs that we’re gathering from the affiliate program back into the neighborhood for you men trading with us connect is below you can have a look at our Discord where we announce the winners okay prior to we hop into the trading system that you can use to start taking these trades I wish to go over the guidelines that I would recommend utilizing when growing a small account okay so the first guideline is start with the dollar quantity risk per trade 10 of starting balance on a hundred dollar account use that ten dollar risk okay each time you double the account so when you go to 100 up to 200 alright you wish to move that up to the 10 of the 200 moving it to the 20 per trade limit get comfy with the dollar amount and utilize that there up until we scale our account up a little bit bigger the third thing and this is incredibly important is everyone has a mental threshold when it comes to 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 states you’re going to start feeling a little bit psychological about the trades which’s something that you truly want to prevent until you come comfortable doing that fine so state 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 and that’s too much for you all right you can stroll that pull back to fifty dollars per trade pick that repaired amount when you want to maintain your capital and just choose an objective daily on
the cash that you wish to make when you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you understand I like to make 3 that 3 to 5 thousand dollars per week so I’m utilizing you learn about 2.5 percent of my whole 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 3 to five thousand per trade and attempt to double my income alright so let’s enter the bread and butter of the actual trading this is a system that I’ve been trading the markets with for the past couple months that have absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was really in Dubai fine however what I want to do is find an area where I have actually a freshly developed uptrend first thing that I wish to do is identify my wave count all right so if this is our start
first pullback is two biggest waves as much as 3 pullback is 4 and then the high is 5 and the way we can try to find the top of five is by utilizing a Fibonacci forecast off of our one wave so if this is our one worth I’m gon na click here click back here and then discover 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