With low exchange fees. What Is Position Margin Okx … With an account at, you can quickly buy crypto using a card, bank account, or mobile wallet. When taking part in staking or conserving functions, it likewise offers extremely high yields in some cases.
was founded in 2017 and preserves a headquarters in Seychelles, with extra workplaces all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The site declares over 20 million users in more than 100 countries. They do not take users from the United States due to regulative and compliance issues.
If you’re in a location that works with OKX, you can produce an account that offers 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 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 inadequate space to list them all in our OKX evaluation. There are 343 currencies on the exchange overall.
Currencies traded on by volume:
breaks currencies down into various pricing tiers that vary based upon trade volume and account holdings. For spot trades, the most you will pay is 0.10%. High-volume traders and those with a big holding in the OKB currency may get approved for discounts. Choices, futures, and swaps have their own rate schedules with varying costs.
One big downside of is that it doesn’t disclose charges for deposits and withdrawals. While much of is transparent, surprise expense details are a red flag that may send you to another exchange with transparent fee schedules.
Cryptocurrency transactions are generally one-way and can’t be reversed, so always double-check transaction information before proceeding. If you accidentally send out funds to the wrong wallet address, you likely won’t recuperate any funds.
Cryptocurrency exchanges have some special security concerns you do not normally face with standard banking platforms. The finest practices for keeping your financial accounts secure are similar. These consist of utilizing strong passwords special to every site and app along with a multifactor authentication app to keep hackers out of your funds.
OKX utilizes industry-standard security practices, including freezer for most consumer assets. It also has offers extra functions like the capability to set up a withdrawal password and anti-phishing codes.
Opening an OKX Account
Opening an account is easy for anyone 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 meaning that if we’re wrong and it continues moving down we’re offering our position which we wish to take earnings at this level what we want to do is find the distinction in between these worths which’s going to offer us.057 then we’re going to take the dollar quantity danger we wish to risk per trade which in this case is ten dollars and we’re going to divide it by the What Is Position Margin Okx
distinction in between the entry and the stop alright which’s going to give us the quantity of tokens that we need to buy in order to run the risk of just ten dollars all right if we’re just going in with 250 coins or a thousand coins we’re never going to be able to call in our threat benefit and you’re going to definitely screw yourself so make certain that you’re refraining from doing that you require to have that set dollar amount alright so that indicates that in order to find the capital requirement or the quantity of cash that we need for this trade we have 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 increased by 3.35 which’s going to provide us 587 dollars then we require to be able to get into this position when we’re using leverage the only thing it’s altering is 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 means now I have 10 thousand dollars to use okay because if we only had a hundred dollar account all right this 587 is currently 5x the size of our money value of our account that makes it impossible okay so let’s visit purchase bit here let’s say we want 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 view what occurs when we open our utilize all right and you’re gon na get this warning that the liquidation is high all right 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 best thing okay so now just thing that we require to utilize for this position is twelve dollars which is 12 of our whole account alright so this utilize ability is altering absolutely nothing about the risk profile on the trade fine if you plan on trading anyways utilize the referral Link in the description fine every week we do a giveaway where anybody trading with 50k volume or higher is
going to be immediately gone into to win a hundred dollars weekly we’re selecting three winners a week all right we’re attempting to provide the costs that we’re collecting from the affiliate program back into the neighborhood for you people trading with us connect is below you can check out our Discord where we reveal 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 suggest using when growing a little account fine so the first guideline is start with the dollar quantity threat per trade 10 of starting balance on a hundred dollar account use that ten dollar danger all right each time you double the account so when you go to 100 approximately 200 fine you want to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and utilize that there till we scale our account up a bit larger the 3rd thing and this is incredibly essential is everyone has a psychological limit when it pertains 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 states you’re going to begin feeling a bit psychological about the trades and that’s something that you truly want to prevent up until you come comfortable doing that alright 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 which’s excessive for you alright you can walk that pull back to fifty dollars per trade choice that repaired amount when you wish to preserve your capital and simply choose a goal daily on
the money that you wish to make as soon as 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 3 to five thousand dollars per week so I’m using you know about 2.5 percent of my entire 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 go up to a thousand try to make three to five thousand per trade and try to double my earnings fine so let’s enter the bread and butter 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 definitely been nailing trades with I’m gon na show you one of the setups that I had on xrp when I was in fact in Dubai fine but what I wish to do is find a location where I have a recently developed uptrend first thing that I want to do is determine my wave count okay so if this is our start
very first pullback is 2 largest waves up to three pullback is four and then the high is five and the method 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 on this link click back here and then find my factor 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 increase to the high of one if our cost action comes down through