Futures Trading is a great opportunity to profit, but it requires you to have a reasonable and clear strategy. Here are some basic, easy-to-apply steps to help you trade smarter and enhance your profits.

1. Focus on Coins with High Volatility

Choose coins like DOGE or BNB – coins that have frequent price fluctuations. This volatility provides many opportunities for you to profit, regardless of whether prices rise or fall.

Tip:

  • Check the price history and trading volume of the coins.

  • Avoid coins with low liquidity.

2. Set Clear Trading Goals

Before placing an order, identify the following factors:

  • Entry Price: The point where you decide to start trading.

  • Profit Target: The price at which you will take profit.

  • Stop-Loss: The threshold to limit risk and avoid large losses.

Specific example:
If the current price of DOGE is $0.42:

  • Profit target: $0.45.

  • Stop-loss: $0.40 or lower.

This helps you control risk and always know when to exit the market.

3. Use Low Leverage to Reduce Risk

Leverage is a double-edged sword. When starting out, use leverage at 2x or 3x to ensure safety.

Reason:

  • Low leverage helps you maintain a stable mindset when the market is volatile.

  • Reduce the risk of account burnout when the price goes against predictions.

4. Monitor Important Price Levels

Identify support and resistance levels to make appropriate trading decisions.

  • Support: The price level where the coin tends to bounce back.

  • Resistance: The price level where the coin often struggles to rise above.

For example:

  • If the price of DOGE stays above $0.42, you might consider buying (long).

  • If the price drops below $0.40, you might consider selling (short).

5. Small Trades, Big Profits

You should not put all your capital into a single trade. Only use 10-20% of your total capital for each order to safeguard your assets.

Benefit:

  • Maintain capital for better opportunities in the future.

  • Easily manage risk and avoid large losses.

6. Update Market News

Market information is a factor that can quickly change the value of a coin.

  • Monitor major events, such as network upgrades or collaboration news of the coin.

  • Use reputable and accurate sources to avoid manipulation.

7. Learn from Every Trade

Whether you win or lose, each trade is a valuable lesson.

  • Review the decisions that have been made.

  • Note the factors that led to success or failure to adjust the strategy accordingly.

Act Now!

Futures trading is not just about making profits; it's also a journey of learning and growing. Stick to your plan, manage risk, and you will gradually achieve your financial goals.