HOW TO START TRADING?
Hey friends!
Whether you're a seasoned trader or just starting out, letâs go through the basics of getting into trading.
đ Decide on your approach: Will you be trading futures or using spot trading? I've explained the difference in a previous post. Personally, I focus on futures and share signals for that.
đ Choosing an exchange: Find a reliable exchange that offers futures contracts. I recommend Binance for its robust features, user-friendly interface, and low fees.
đ Funding your account: Deposit funds into your Binance account. You can do this using cryptocurrency or a bank card, as Binance supports multiple funding options.
đ Learning the tools: Familiarize yourself with Binanceâs tools and features. Understand the different types of futures contracts, margin, and liquidity. Iâve shared helpful resources on tools in the channel as well.
đ Market analysis: Study the charts and analyze the market trends. Use my signals to help inform your decisions.
đ Start trading: Open your first position. Begin with a small amount to get comfortable with the process. Iâll provide a guide on how to trade on Binance soon!
đ Monitor and manage risks: Regularly check your positions and adjust them based on market conditions.
Start small and gradually increase your position size as you gain confidence in your skills.
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