TRADING ADVICE FOR BEGINNERS (FUTURES MARKET)
Start Slow: Start with a small capital, say US$$ 100.
Currency Choice: Choose a currency that is less volatile.
Leverage: Use leverage no higher than x10.
Leverage Limit: Make sure you never exceed leverage by more than 50% of your capital (e.g. with US$$ 100 in your portfolio, your leverage should not exceed US$$ 150 = US$$ 15 x 10).
Avoid Trading at the Same Price: Never buy or sell any currency at the same price with your entire margin.
Split Margin: Split your margin into 4 parts ($15/4 = $3.8), which means you will open long or short positions with $3.8 x 10 = $38 USDT.
DCA Strategy: If you opened a long position and the currency dropped by 5-10%, buy again with $ 3.8 x 10 (this is called Dollar Cost Averaging, or DCA), so your entry point is now lower. The same applies to short positions if the currency rises by 5-10%. Your position will now be US$ 76 USDT and you will have US$ 100 as balance.
If the currency breaks through your breakeven point in profit, close it. If it drops again by 5-10% or more, DCA again. (Never DCA for 1-2% drops).
Charts: Choose a time frame like 1 hour, 4H, 1D). Analyze the chart to see how the currency is performing.
RSI Indicator: Since you are a beginner, use the RSI indicator for time frames (1H, 4H, 1D, etc.). If the RSI score is below 20, it is oversold and may go up a bit, which is safe for the long term. If the RSI score is above 90, it is overbought, so it is safe to go short.
Stop-Loss: Never trade without SL; it is a lifesaver during crashes.
Patience is the key. Stay updated on the market. Enter and exit trades within the time frame and never trade like a straight-up gambler. Once you make a profit, sit back and wait for the next safe entry.If you suffer a loss, relax and don't rush to recover; you may end up losing more. Wait for a safe entry.
