Read it if you are newish and trading with futures! it might save your capital!
Trading Futures Safely on Binance
Understanding Leverage:
Leverage multiplies potential profits and losses.
As a beginner, limit yourself to 5x leverage maximum.
Always set stop-loss orders to manage risk.
Only risk what you can afford to lose.
Additional Tips:
You can always DCA in margin mode, to make your entry lower.
Dont listen to those signal I know the market gurus here. They dont know shit.
Do thorough market research.
Have a clear trading plan.
Maintain discipline.
Practice with a demo account first.
Important Leverage Notes:
20x leverage is highly risky for most traders.
5x offers a reasonable risk-reward balance for beginners.
Using stop-losses is non-negotiable.
Never trade with more than you're willing to lose.
Helpful Resources:
Binance Futures: https://www.binance.com/en/futures
Understanding Leverage in Futures: https://www.investopedia.com/terms/l/leverage.asp
Margin Trading Explained: https://www.investopedia.com/terms/m/margin.asp