Advice for new future traders on binance.
I have seen on binance square that lot of new traders on futures are getting liquidated or risk levels are high
Its not really hard to understand the platform . The only hard thing to understand is the market movement.
You can find lot of good people on here that provide accurate signals on future tradings
If you’re new to binance or trading here are my advices from my own experience
* Pick one token to trade on futures
( if you want to pick multiple tokens use spot tradings )
* Never go short(Sell) on popular tokens
* Take small profits whenever possible
* Don’t use “Cross tradings “
This will use your balance on future trades to manage margin level and risk level .
Incase of liquidity your whole future balance will be gone .
( Always use “isolated “ so it will only use the margin level that you added if somehow in liquidity only your margin balance will be affected)
*Always keep lower risk levels
( 20% or Lower )
In isolated margins you can add more assets to lower the risk level .. until price on the token stabilize.
*Always buy at lowest price point on the token
( in most weekends you’ll see price drops on lot of tokens soo thats your best chance to enter the market)
* Patience
( Trading is all about taking risk , someone has to loose for you to win and thats how trading work . Don’t panic when your prediction of the price suddenly changes it might or might not goes to the price point you expected its your responsibility to do the research and place the order)
*don’t use higher leverage on lower margins
( in most alt coins on the market the appropriate leverage is X6 or lower if you trading with lower margins )
Mainly don’t blame anyone for your mistakes because everyone on here came to earn free money by trading.. thats the truth and nobody here care about other people .
In game of trading you just on your own ..
Play hard and get paid hard .
Good luck in your trading boys and girls .