With low exchange fees. Can You Day Trade On Okx Pro … With an account at, you can quickly buy crypto using a card, checking account, or mobile wallet. When participating in staking or conserving features, it also provides exceptionally high yields in some cases.
was founded in 2017 and maintains a head office in Seychelles, with additional offices all over the world. According to CoinMarketCap, is the 18th largest cryptocurrency exchange in the world by volume.
The website declares over 20 million users in more than 100 nations. They don’t take users from the United States due to regulative and compliance concerns.
If you’re in an area that works with OKX, you can develop an account that offers you access to trade 343 area currencies.
Supports margin loaning, making cryptocurrency through staking and savings, cryptocurrency-backed loans, and advanced products, such as mining swimming 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 location for crypto-related activities.
Cryptocurrencies Available on
With over 300 cryptocurrencies supported, there’s not enough space to list them all in our OKX evaluation. There are 343 currencies on the exchange total.
Currencies traded on by volume:
For spot 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 discount rates.
One huge downside of is that it doesn’t divulge costs for withdrawals and deposits. While much of is transparent, hidden expense information 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 deal details prior to continuing. You likely will not recover any funds if you mistakenly send funds to the wrong wallet address.
Cryptocurrency exchanges have some distinct security issues you don’t typically face with traditional banking platforms. The finest practices for keeping your financial accounts safe and secure are comparable. These include using strong passwords special to every site 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 likewise has offers extra functions like the ability to establish 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.
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 offering our position and that we wish to take earnings at this level what we wish to do is discover the distinction between these worths which’s going to give us.057 then we’re going to take the dollar quantity danger we want to risk per trade which in this case is ten dollars and we’re going to divide it by the Can You Day Trade On Okx Pro
difference in between the stop and the entry all right which’s going to give us the amount of tokens that we need to buy in order to risk only ten dollars okay if we’re simply 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 absolutely screw yourself so make sure that you’re not doing that you need to have that set dollar amount okay so that means that in order to discover the capital requirement or the amount of money that we need 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 multiplied by 3.35 which’s going to give us 587 dollars then we need to be able to get into this position when we’re using take advantage of the only thing it’s changing is how much money we personally need to put into the trade so if I have a hundred dollar account and I use a 100x leverage that implies now I have 10 thousand dollars to utilize all right since if we only had a hundred dollar account alright this 587 is already 5x the size of our money value of our account that makes it impossible alright so let’s go over to purchase bit here let’s state 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 see what happens when we open our take advantage of alright and you’re gon na get this caution that the liquidation is high fine 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 ideal thing alright so now just thing that we need to use for this position is twelve dollars which is 12 of our whole account all right so this utilize ability is changing nothing about the threat profile on the trade okay if you plan on trading anyways utilize the recommendation Link in the description okay each week we do a giveaway where anybody trading with 50k volume or greater is
going to be immediately gone into to win a hundred dollars per week we’re selecting three winners a week all right we’re attempting to give the costs that we’re collecting from the affiliate program back into the community for you guys trading with us link is below you can check out our Discord where we reveal the winners all right before we hop into the trading system that you can use to start taking these trades I want to go over the rules that I would suggest using when growing a small account all right so the very first guideline is start with the dollar quantity danger per trade 10 of starting balance on a hundred dollar account usage that ten dollar risk okay each time you double the account so when you go to 100 approximately 200 okay you wish to move that approximately the 10 of the 200 moving it to the 20 per trade threshold get comfortable with the dollar quantity and use that there up until we scale our account up a bit larger the 3rd thing and this is super important is everybody has a psychological threshold when it comes to just how much cash they’re comfortable running the risk of if I’m looking at losing 500 like this 500 500 where I lose three sell a row I don’t care who you are or what the math says you’re going to start feeling a little bit psychological about the trades and that’s something that you actually want to prevent up until you come comfy doing that all right so say you work your method up to 200 to 500 to a thousand okay and after that ten percent of a thousand is a hundred dollars per trade and that’s too much for you alright you can stroll that pull back to fifty dollars per trade pick that repaired quantity as soon as you wish to maintain your capital and just select a goal daily on
the cash that you wish to make as soon as you get up to a comfortable limit where it’s fitting your income goals so for me personally you know I like to make three that 3 to 5 thousand dollars each 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 understand a couple years from now go up to a thousand shot to make three to five thousand per trade and attempt to double my earnings alright so let’s enter the support of the actual 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 reveal you one of the setups that I had on xrp when I was in fact in Dubai alright however what I wish to do is find a location where I have actually a newly established uptrend first thing that I wish to do is identify my wave count alright so if this is our beginning
very first pullback is two largest waves approximately three pullback is four and then the high is five and the method we can look for the top of 5 is by using 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 after that find 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