"Profit is profit, small profit is better than none, "
These phrases are largely true when it comes to cryptocurrencies due to the volatile nature of this beast.
Learn the art of taking a profit when trading even small profits. Most of my losing trades are always in profit at some point and I always like I will wait for "a bigger profit."
When you enter a trade, there is something that tells you to execute the trade whether it's market news, some trader signals, or your intuition. (Personally, I love following my intuition and doing my personal research).
Once you enter the trade and you're lucky for it to swing your way, take a reasonable profit as fast as possible. Don't wait for a huge windfall unless the overall market is somehow bullish or bearish and you are in a perfect entry position.
Remember, don't be greedy, take your small win and live to fight another day.
Futures trading can be frustrating at times, more so when you get locked in a negative trade for days.
Different people have their own strategies.
If you have big monies over $500 or $1000, you should move to spot to avoid daily charges on futures. Alternatively, you can use a small leverage x2 or x3 and trade big cap tokens like $BTC and my favorite,$BNB .
If you're trading with small budget less than $100, you want to trade tokens with wild swings, but don't ever surge 30 per cent in day. Check small cap tokens with huge volumes use a small leverage x2 or x3, you go above x5 on small tokens, you're likely to get liquidated.
Last critical bit, figure out your Stop Loss(SL) strategy. I have always hated SL as it often eats to your profits and you always say the trade is coming back to profitability. Determine SL take losses when necessary to avoid losing your entire balance.
Trading can be overwhelming, take breaks. Don't assume you can trade daily earning profits, probably you create a trading bot. Thats my two cents, lets trade responsibly.
BNB is Wildly Underrated as the Token Surges Past $530 Mark
Many crypto investors and enthusiasts are always fascinated with Bitcoin, Ethereum, and other altcoins like Ripple and Solana. There is always not much hype around the Binance token, BNB.
It’s time crypto enthusiasts start to recognize the value of BNB and put some dollars into it.