FUTURES TRADING TIPS by @novialanis
Disclaimer on: this is purely my personal opinion, and I hope these tips can help. Always Do Yourself On Research and this post is Not Financial Advice.
First, trading psychology
Please, Futures Trading does not make us immediately profitable. Don't have a gambling mentality by using maximum margin and leverage, because it can cause our assets to be completely liquidated (liquidated/exhausted).
Second, technical analysis
Even though technical analysis does not guarantee that we will make a profit or not lose money, it can increase confidence in the win rate percentage. There is always a basis and reason for us to open a position when using analysis, not just guessing the price and direction of the candle.
Third, use a timeframe according to your trading goals
If you want to trade briefly, just use the 15-20-60 minute timeframe.
If you want to trade on a swing/daily basis, use a timer frame of 4 hours-8 hours-up to 1 day.
So, if you trade long term, you can use a 1 week-month time frame.
Fourth, use leverage wisely
Leverage is a buying/selling leverage facility in calculating trading margin. On Binance, leverage options are available from x1-x125 (depending on coin type). The greater the leverage, the greater the size of the open position, the faster the profit, of course the faster the risk of a margin call (liquidation) is reached. The opposite applies, yes. So, it's better to be wise and set the maximum risk of loss that you dare to bear.
That's all my futures tips, I hope they can help and hopefully make a profit