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⛔️⛔️TRADING ADVICE FOR BEGINNERS (FUTURES MARKET) ⛔️⛔️
Start Slow: Start with a small capital, say $100.
Currency Choice: Choose a currency that is less volatile.
Leverage: Use leverage no higher than x10.
Leverage Limit: Make sure you never exceed leverage by more than 50% of your capital (e.g. with $100 in your portfolio, your leverage should not exceed $150 = $15 x 10).
Avoid Trading at the Same Price: Never buy or sell any currency at the same price with all your margin.
Split Margin: Split your margin into 4 parts ($15/4 = $3.8), which means you will open long or short positions with $3.8 x 10 = $38 USDT.
DCA Strategy: If you opened a long position and the coin dropped 5-10%, buy again at $3.8 x 10 (this is called Dollar Cost Averaging, or DCA), so your entry point is now lower. The same applies to short positions if the coin goes up by 5-10%. Your position will now be $76 USDT and you will have $100 as a balance.
If the coin breaks through your breakeven point in profit, close it. If it drops again by 5-10% or more, DCA again. (Never DCA for drops of 1-2%).
Charts: Choose a duration (like 1 hour, 4H, 1D). Analyze the chart to see how the coin is behaving.
RSI Indicator: Since you are a beginner, use the RSI indicator for durations (1H, 4H, 1D, etc.). If the RSI score is below 20, it is oversold and may rise slightly, which is safe for the long term. If the RSI score is above 90, it is overbought, so it is safe to go short.
Stop-Loss: Never trade without SL; it is a lifesaver during crashes.
Patience is key. Stay up-to-date with the market. Enter and exit trades within the time frame and never trade like a consecutive gambler. Once you take profit, sit back and wait for the next safe entry. If you suffer a loss, sit back and don’t rush to recover;you may end up losing.
#BinanceLaunchpool $ENA $INJ $MANTA
Start Slow: Start with a small capital, say $100.
Currency Choice: Choose a currency that is less volatile.
Leverage: Use leverage no higher than x10.
Leverage Limit: Make sure you never exceed leverage by more than 50% of your capital (e.g. with $100 in your portfolio, your leverage should not exceed $150 = $15 x 10).
Avoid Trading at the Same Price: Never buy or sell any currency at the same price with all your margin.
Split Margin: Split your margin into 4 parts ($15/4 = $3.8), which means you will open long or short positions with $3.8 x 10 = $38 USDT.
DCA Strategy: If you opened a long position and the coin dropped 5-10%, buy again at $3.8 x 10 (this is called Dollar Cost Averaging, or DCA), so your entry point is now lower. The same applies to short positions if the coin goes up by 5-10%. Your position will now be $76 USDT and you will have $100 as a balance.
If the coin breaks through your breakeven point in profit, close it. If it drops again by 5-10% or more, DCA again. (Never DCA for drops of 1-2%).
Charts: Choose a duration (like 1 hour, 4H, 1D). Analyze the chart to see how the coin is behaving.
RSI Indicator: Since you are a beginner, use the RSI indicator for durations (1H, 4H, 1D, etc.). If the RSI score is below 20, it is oversold and may rise slightly, which is safe for the long term. If the RSI score is above 90, it is overbought, so it is safe to go short.
Stop-Loss: Never trade without SL; it is a lifesaver during crashes.
Patience is key. Stay up-to-date with the market. Enter and exit trades within the time frame and never trade like a consecutive gambler. Once you take profit, sit back and wait for the next safe entry. If you suffer a loss, sit back and don’t rush to recover;you may end up losing.
#BinanceLaunchpool $ENA $INJ $MANTA
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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