One of the benefits of Futures Trading is the ability to take advantage of crypto market price fluctuations without having to hold the assets themselves.
Here are some of my tips for trading futures:
Educate Yourself
Understand the basics of futures trading, including how futures contracts work, margin requirements, and the different types of futures contracts.
Traders must understand the risks involved and carry out strict risk management to avoid unnecessary losses.
Stay Informed
You can follow news that is currently trending as well as events that can influence the future market. Do not miss.
Risk management
Always use stop-loss to limit potential losses. For traders, please remember that there are TP/SL features, namely Take Profit and Stop Loss. You can set the price for Take Profit when the price has risen to a certain number.
You can take leverage to reduce risk or seek multiple profits in a volatile market.
It is important to know that the higher the leverage, the higher the risk.
Practice with a Demo Account
On Binance itself there is a demo feature that you can use to understand how to trade futures without having to invest capital first.
Discipline
Stay disciplined and avoid trading based on emotions. Emotions themselves can influence trading.
Review your trades regularly to understand what is working and what isn't. Adapt it to your strategy.
Successful trading requires patience, time and experience. Continue to educate and hone your own abilities to improve your trading skills.
Maybe those are just some of my tips for trading futures. Hope it helps, thank you so much.