With low exchange costs. Okx Position Size Calculator … With an account at, you can quickly buy crypto utilizing a card, bank account, or mobile wallet. When taking part in staking or conserving features, it also uses extremely high yields in some cases.
was founded in 2017 and keeps a headquarters in Seychelles, with extra offices worldwide. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange worldwide by volume.
The site claims over 20 million users in more than 100 nations. They don’t take users from the United States due to regulatory and compliance concerns.
If you remain in a location that works with OKX, you can develop an account that gives you access to trade 343 spot currencies.
Supports margin loaning, earning cryptocurrency through staking and 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 main place for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough room to note them all in our OKX review. There are 343 currencies on the exchange overall.
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 may certify for discounts.
One big downside of is that it does not divulge fees for deposits and withdrawals. While much of is transparent, hidden expense information are a red flag that might send you to another exchange with transparent fee schedules.
Cryptocurrency deals are normally one-way and can’t be reversed, so constantly double-check transaction details prior to proceeding. If you unintentionally send out funds to the wrong wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some unique security issues you do not generally face with traditional banking platforms. The best practices for keeping your financial accounts secure are comparable. These include using strong passwords unique to every site and app together with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for the majority of consumer assets. It also has offers additional functions like the capability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anybody beyond the United States. You will find a familiar experience at OKX if you have actually ever signed up for another cryptocurrency exchange or stock market brokerage account.
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 offering our position and that we wish to take revenue at this level what we want to do is find the difference between these values which’s going to provide us.057 then we’re going to take the dollar quantity risk we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Okx Position Size Calculator
difference in between the stop and the entry fine which’s going to offer us the quantity of tokens that we require to purchase in order to run the risk of only ten dollars okay if we’re simply going in with 250 coins or a thousand coins we’re never going to have the ability to call in our risk benefit and you’re going to definitely screw yourself so ensure that you’re refraining from doing that you require to have actually that set dollar quantity fine so that means that in order to discover the capital requirement or the quantity of money that we require for this trade we have 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 which’s going to offer us 587 dollars then we need to be able to enter this position when we’re utilizing leverage the only thing it’s changing is just how much cash we personally need to take into the trade so if I have a hundred dollar account and I utilize a 100x take advantage of that means now I have ten thousand dollars to utilize all right due to the fact that if we only had a hundred dollar account all right this 587 is currently 5x the size of our cash value of our account which makes it difficult okay so let’s go over to buy bit here let’s say we want to take this ape trade here fine we need 175 coins we can see right here our Capital requirement for this position is 586 dollars now watch what occurs when we open up our leverage okay 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 ten dollars you are safe and you’re doing the right thing all right so now only thing that we require to utilize for this position is twelve dollars which is 12 of our whole account fine so this leverage capability is altering absolutely nothing about the risk profile on the trade alright if you intend on trading anyways use the referral Link in the description alright weekly we do a giveaway where anyone trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars each week we’re selecting 3 winners a week alright we’re trying to offer 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 take a look at our Discord where we reveal the winners fine 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 advise utilizing when growing a little account all right so the first guideline is begin with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account usage that 10 dollar risk fine each time you double the account so when you go to 100 approximately 200 alright you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfy with the dollar quantity and utilize that there until we scale our account up a little bit bigger the 3rd thing and this is incredibly important is everybody has a mental threshold when it concerns how much money they’re comfortable risking if I’m taking a look at losing 500 like this 500 500 where I lose 3 sell a row I don’t care who you are or what the math states 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 alright so say you work your method as much as 200 to 500 to a thousand fine and then 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 wish to protect your capital and simply pick an objective daily on
the cash that you wish to make once you get up to a comfy threshold where it’s fitting your earnings objectives so for me personally you understand I like to make three that three to five thousand dollars each week so I’m utilizing you know 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 know a couple years from now go up to a thousand shot to make 3 to 5 thousand per trade and try to double my earnings alright so let’s enter into the support of the real trading this is a system that I have actually been trading the markets with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you among the setups that I had on xrp when I was in fact in Dubai fine but what I wish to do is discover a location where I have a freshly developed uptrend first thing that I want to do is identify my wave count okay so if this is our beginning
very first pullback is two biggest waves up to three pullback is four and after that the high is five and the way we can search for the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one worth I’m gon na click here click back here and then find my aspect 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 increase to the high of one if our rate action comes down through