➡️Hey Traders! To succeed in futures trading, strict risk management is essential. Always allocate only 10% of your wallet per trade. Start with 5% on your initial entry and 5% on your secondary entry. For example, if you have $100 in your wallet, limit your investment to $10 per trade (meaning $5 on the first entry and $5 on the second). Sticking to this 10% rule is key!
➡️When you reach your target, adjust your stop loss (SL) to the entry price. If further targets are hit (e.g., Target 2 or T
Your seed phrase unlocks your wallet. Keep it offline and avoid storing it digitally. Write it down and keep it in a safe place. For added security, break it into parts and store them separately.
2️⃣ Beware of fake social media accounts
Scammers impersonate influencers or exchanges. Verify profiles by checking for verification badges, scrutinizing usernames, and reviewing post history. Platform with the highest number of impersonators - X (Twitter).
3️⃣ Avoid public WiFi
Public WiFi is vulnerable to cyber attacks. Refrain from accessing your crypto wallet or making transactions when connected to unsecured networks.
4️⃣ Beware of fake livestreams
Scammers use stolen content to promote fake crypto giveaways. Verify the legitimacy of channels and be skeptical of offers that seem too good to be true.
5️⃣ Stay vigilant against deepfakes
AI-generated deepfakes can impersonate real people. Look for inconsistencies in video and audio, and be wary of unsolicited messages urging immediate action. Deepfakes of famous people on YouTube are common scams.
Market liquidity is about how quickly and easily you can buy or sell a crypto asset without causing a big change in its price. When a market is liquid, there's plenty of activity, so you can trade your tokens fast and at fair prices 🕯
In a market with high liquidity, you get more accurate pricing. This means less risk of slippage, which is the difference between the expected price of a trade and the price at which it happens.
💁♀️ Low liquidity can be risky. Imagine that you are holding $5 m