I am new on binance, will you please help me to make money so that i can come out from debt
LIVE
-TheOne-
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Bullish
I can't tell you about the future, but can give you information about the past, which might impact your future.
I remember buying my first $BNB at a price of 10$, then 4 for 20$ each. The Binance card was announced so I checked it out. The first thing I realized is that I would need 10 BNB to get a better Cashback rating. So I bought another 5 BNB at 50$ . Just a few days later, BNB ramped up to 100$. People probably had to move money to buy. But I always hold some money ready for an opportunity.
I sold 2 BNB for 1500$. I paid 360$ for 10 BNB.
Long Term, small amounts in Spot will bring you forward slowly. Short Term, small amounts in leverage will either bring you fast forward or end you, before you even started.
My advice for beginners: Create a Mixture of long term spot investments and short term leverage trades (if you are ready for trading and willing to take a loss). Forget about your long term investments, just put some more money in some times, as if you water a 🌵.
Disclaimer: I don't encourage leverage trading. But I know it is a good tool for increasing your portfolio fast. You should always make sure to reduce your Risks in leverage early on. Also wouldn't put all my money in there. I never been in leverage with more than 5% of my total Portfolio, since leverage can reset you unbelievable fast. Set stop losses when doing this as well.
When leverage trading, make sure to take a profit, put some of that profit in cash reserve(I do 50% profit to cash reserve), reinvest some of it into spot (I do 20% of it) , and find a new trade (Use your initial investment + 25% of your profits to get more trades, you need a Bankroll to continue even if you lose some trades).
'What about the remaining 5%?' hear you asking. Take that and invest it in yourself, buy your mother flowers, improve something that you know you can improve and that you want to improve. But use it to improve your life and the life of your loved ones .
Have a nice day.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.