Should Read this 🤷 to be profitable

Here’s a potential strategy for New traders on Binance, designed specifically for new traders:

Approach: Scalping & Swing Trading
Duration: Short-term (1-7 days)
Target Assets: Choose 3-5 low-cap altcoins known for their liquidity and volatility.

Click here to VOTE on My Profile

Entry Strategy:

1. Look for trending altcoins using Binance’s “Top Gainers” list.

2. Confirm entry points with technical indicators like RSI, Bollinger Bands, and Moving Averages.

3. Place buy orders 1-2% above the current market price.

Exit Strategy: 1. For scalping, set sell orders 5-10% above your entry price.2. For swing trades, hold for 1-3 days, aiming for a 10-20% profit before selling.

Risk Management: 1. Commit 20-50% of your trading capital to each position.

2. Implement stop-loss orders 2-5% below your purchase price.

Example: Starting Capital: $10 1. Purchase 1,00 units of Altcoin A at $0.10 per unit.

2. Sell 50 units at $0.12 (scalping) = $60 profit.

3. Retain the remaining 500 units and sell them at $0.15 (swing trading) = $150 profit.Repeat this process with other selected altcoins, compounding your profits to grow your portfolio.

Key Considerations:- This strategy carries significant risk and could lead to losses.- Cryptocurrency markets are highly volatile, and price swings can happen quickly.

This example is purely hypothetical and intended for educational purposes; it does not constitute financial advice. Remember, this is a simplified strategy.

Real-world trading involves more nuances, so always prioritize risk management and continue learning as you go.

#BinanceBlockchainWeek #CryptoMarketMoves #PowellAtJacksonHole #TelegramCEO #BlackRockETHOptions