If you’re diving into the world of crypto, earning a little extra daily, say $10–$20, on Binance through futures trading might seem appealing. With the right approach, strategies, and discipline, this can actually be achievable. Futures trading, however, isn’t for everyone, so here’s a clear, beginner-friendly guide on how to get started without over-complicating things. Let's break down what you need to know!

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1. Understanding Futures Trading on Binance

First, let’s make sure we’re on the same page. Futures trading in crypto is like betting on whether a coin will go up or down within a set timeframe. On Binance, you don’t actually own the coin; instead, you’re speculating on its price movement. This can be profitable if done correctly, but it also carries risks since you’re using leverage (a form of borrowing that can magnify your profits and losses).

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2. Starting Small: Choose a Manageable Leverage

When you’re starting, keep it simple with low leverage, ideally no more than 5x to 10x. This means your earnings (or losses) can be multiplied up to 10 times. Here’s why low leverage matters:

Reduces Risk: High leverage can wipe out your account quickly. With lower leverage, you can handle slight market changes without significant losses.

Easy Control Over Trades: You get more time to react to market fluctuations.

So, if you’ve got $100 to start, a small leverage of 5x allows you to make a reasonable return without taking on huge risks.

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3. Find Coins with Volatility – The Key to Profit

On Binance, some coins have sharp price swings – think of popular coins like Bitcoin (BTC), Ethereum (ETH), and some altcoins. Volatile coins provide more opportunities to gain as they go up and down in value quickly.

Trade During Peak Times: The crypto market tends to be more active during certain times of the day, especially when major markets like the U.S. and Europe are open.

Look for Trending Coins: Check which coins have the most interest or recent news; they often show strong movement.

With the right coin and timing, even small price changes can lead to profits of $10–$20.

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4. Set Realistic Targets – The $10–$20 Goal

Before you even hit that “Buy” or “Sell” button, decide your target – in this case, $10 to $20 profit. Don’t get greedy; set a daily goal and stick to it. Here’s a simple way to stay on track:

Use Limit Orders: Set a take-profit level at your desired profit (say, $10–$20) and a stop-loss to limit your potential loss if things don’t go your way.

Close Trades Early if Necessary: If you see your profit nearing the target, don’t hesitate to close. Remember, $10 earned consistently is better than chasing big wins and losing.

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5. Use the Stop-Loss Strategy – Avoid Major Losses

In futures trading, the risk can get out of hand if not managed well. A stop-loss ensures that if the market suddenly drops, your loss stays within limits. If you aim to make $10–$20, your stop-loss can be set to around $5–$10.

Set a Stop-Loss Automatically: Binance allows you to set stop-loss orders. This is like insurance; if the market goes against you, your trade automatically closes at a specified loss level.

Adjust Based on Market Volatility: If a coin is very volatile, consider a slightly larger stop-loss, but keep it within your comfort zone.

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6. Keep Emotions Out – Don’t Let Greed or Fear Take Over

Easier said than done, right? Futures trading can be emotional, especially when using leverage. To keep things in check:

Stick to Your Plan: Avoid “revenge trading” after a loss. It’s common to want to make back a lost $10, but impulsive trading can lead to bigger losses.

Stay Disciplined: If you’ve hit your daily profit goal of $10–$20, step away. It’s about building consistency over time, not winning every trade.

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7. Stay Updated – Knowledge Is Your Ally

Crypto is fast