Futures Learning Update!
I have officially taken profit of 35% of my total capital in futures in 2 trades. Another thing I learned in the process was that I order to mitigate risks, it is important to start each trade with roughly 5-10% of your portfolio, not more unless you're willing to make it very risky. Starting with that allows you to keep increasing the amount in your position at lower costs, also known as Dollar-Cost Averaging (DCA), which will allow your entry price to decrease overall. Alongside, if you do cross margin trading, your liquidation price will be much further away from the current price, which will reduce the chances of liquidation due to a correction in the market. I thought I'd document my learning process and my learning with everyone so that anyone who plans on starting futures trading without major risks is also able to learn from everything I'm learning.
It is important to remember that you should never go against the market, and also to remember to analyze the level of risk you're willing to take. Choose the leverage margin according to your risk appetite and to always do your own research before making any decisions. Also remember to not blindly follow any one person's calls, as in the end you are the one that will have to bear the losses and creators on Binance square generally are affiliated with and get cuts from certain coins, or are using to make a profit off of their positions by increasing trading volume.
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