Attention Friends Using 50x Leverage
Please, don't take 50x, 30x, or even 20x leverage. Start with just 2x leverage. If you get stuck, gradually increase it to a maximum of 8x. Anything above 8x, up to 50x leverage on Binance, can lead to quick liquidation. if the Market triggers your liquidation. Your actual loss might be $60, but you'll face an extra $40 in liquidation charges for insurance. This makes it a terrible game where you can lose up to 40% to 30% of your money in liquidation charges.
Trade smart, stay safe!
Note:- In this post, I'm just talking about short-term or intraday traders who use high leverage
