Earning $200 per hour on Binance or any other trading platform is not guaranteed and involves significant risk. It's important to approach trading with caution and realistic expectations. Here are some ideas and considerations if you're looking to trade on Binance with the goal of earning $200 per hour:
Example Scenario
Assume you want to trade Ethereum (ETH) on Binance to earn $200 per hour:
Setup
Current Price: Ethereum is trading at $2,000.Strategy: You anticipate a short-term uptrend based on technical indicators (e.g., RSI indicating oversold conditions).
Trade Execution
Entry: Buy 1 ETH at $2,000.Stop Loss: Set a stop loss at $1,950 to limit potential losses.Take Profit: Set a profit target at $2,200 based on resistance levels.
Risk Management
Position Size: If you're willing to risk 1% of a $20,000 trading account per trade, your maximum risk per trade would be $200.Calculation: With a stop loss of $50 (entry price - stop loss price), you can buy approximately 4 ETH ($200 / $50).