With low exchange charges. What Happens If You Get Liquidated On Okx … With an account at, you can quickly purchase crypto using a card, bank account, or mobile wallet. It also offers extremely high yields in many cases when participating in staking or saving functions.
was founded in 2017 and maintains a head office in Seychelles, with extra offices around the globe. According to CoinMarketCap, is the 18th biggest cryptocurrency exchange on the planet by volume.
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The website declares over 20 million users in more than 100 countries. They don’t take users from the United States due to regulative and compliance issues.
If you remain in an area that deals with OKX, you can produce an account that provides you access to trade 343 area currencies.
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Supports margin loaning, making cryptocurrency through staking and cost savings, cryptocurrency-backed loans, and advanced items, such as mining pools and its own blockchain, called OKExChain. could 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 total.
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Currencies traded on by volume:
- Bitcoin
- OKB
- Ethereum
- TRON
- Avalanche
- APENFT
- Solana
- Polygon
For spot trades, the most you will pay is 0.10%. High-volume traders and those with a large holding in the OKB currency may certify for discount rates.
One big downside of is that it does not disclose charges for deposits and withdrawals. While much of is transparent, hidden cost information are a warning that may send you to another exchange with transparent fee schedules.
Security
Cryptocurrency deals are normally one-way and can’t be reversed, so always double-check deal details before proceeding. If you accidentally send funds to the incorrect wallet address, you likely won’t recover any funds.
Cryptocurrency exchanges have some distinct security concerns you don’t generally confront with conventional banking platforms. Nevertheless, the very best practices for keeping your financial accounts protected are comparable. These consist of using strong passwords unique to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX uses industry-standard security practices, consisting of freezer for many client assets. It also has offers additional features like the ability to establish a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is simple for anyone beyond the United States. If you’ve ever signed up 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 profit at this level what we want to do is find the distinction between these values and that’s going to provide us.057 then we’re going to take the dollar amount threat we want to risk per trade which in this case is ten dollars and we’re going to divide it by the What Happens If You Get Liquidated On Okx
difference in between the stop and the entry fine and that’s going to provide us the amount of tokens that we need to purchase in order to risk just ten dollars alright if we’re just going in with 250 coins or a thousand coins we’re never going to be able to dial 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 that set dollar quantity fine so that implies that in order to find the capital requirement or the amount of cash that we need for this trade we have to take the amount of coins and increase it by the entry rate 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 utilizing take advantage of the only thing it’s altering is just how much money we personally need to put into the trade so if I have a hundred dollar account and I utilize a 100x leverage that implies now I have ten thousand dollars to utilize okay since if we only had a hundred dollar account fine this 587 is already 5x the size of our cash worth of our account that makes it impossible alright so let’s go over to purchase bit here let’s say we want to take this ape trade here all right we require 175 coins we can see right here our Capital requirement for this position is 586 dollars now enjoy what occurs when we open up our leverage okay and you’re gon na get this warning that the liquidation is high fine as long as you’re measuring you’re entering your exit and you’re running the risk of that ten dollars you are safe and you’re doing the ideal thing alright so now only thing that we require to use for this position is twelve dollars which is 12 of our entire account fine so this leverage ability is altering absolutely nothing about the threat profile on the trade all right if you intend on trading anyways use the recommendation Link in the description fine each week we do a free gift where anyone trading with 50k volume or higher is
going to be instantly gotten in to win a hundred dollars each week we’re choosing three winners a week alright we’re attempting to give the costs that we’re gathering from the affiliate program back into the community for you guys trading with us connect is below you can check out our Discord where we reveal the winners fine before we hop into the trading system that you can utilize to begin taking these trades I wish to discuss the guidelines that I would advise utilizing when growing a little account all right so the very first rule is start with the dollar quantity threat per trade 10 of beginning balance on a hundred dollar account usage that ten dollar threat fine each time you double the account so when you go to 100 approximately 200 all right 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 quantity and use that there till we scale our account up a bit larger the third thing and this is extremely important is everybody has a mental threshold when it comes to just how much money they’re comfortable risking 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 says you’re going to begin feeling a little bit emotional about the trades which’s something that you actually wish to avoid till you come comfortable doing that all right so state you work your method up to 200 to 500 to a thousand fine and then ten percent of a thousand is a hundred dollars per trade and that’s excessive for you fine you can stroll that pull back to fifty dollars per trade choice that repaired quantity when you want to protect your capital and simply choose an objective each day on
the cash that you wish to make once you get up to a comfortable limit where it’s fitting your income objectives so for me personally you understand I like to make 3 that 3 to five thousand dollars each week so I’m using you understand 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 try to make three to 5 thousand per trade and try to double my earnings all right so let’s get into the support of the real trading this is a system that I’ve been trading the markets with for the past couple months that have actually absolutely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was really in Dubai fine however what I want to do is find a location where I have a newly developed uptrend first thing that I want to do is identify my wave count all right so if this is our beginning
first pullback is 2 biggest waves as much as 3 pullback is 4 and after that the high is 5 and the method we can look for the top of five is by utilizing a Fibonacci projection off of our one wave so if this is our one value I’m gon na click on this link click back here and then find my aspect of one and you can see the price 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 comes down through