Here are Some Tips for Trading Futures👇
1. Maintain Discipline: Adhere strictly to your trading plan to avoid impulsive actions that may result in losses.
2. Account for Funding Rates: Comprehend the role of funding rates in futures trading and integrate them into your strategy.
3. Leverage Cautiously: Use leverage judiciously to minimize risk and avoid potential liquidation.
4. Observe Order Books: Monitor order books to detect support and resistance levels and predict price movements.
5. Analyze Timeframes: Review multiple timeframes (such as hourly, daily, and weekly) to validate trends and strategize your entry and exit points.
6. Ensure Security: Secure your Binance account with strong passwords and two-factor authentication.
7. Grasp Funding Mechanisms: Understand the functioning of funding mechanisms in perpetual futures contracts and their effects.
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