### How to Earn $164 Daily on Binance: A Quick Guide for Beginners
1. Master the Basics:
- Key Terms: Understand market orders, limit orders, stop-loss, and take-profit orders.
- Indicators: Learn tools like RSI, MACD, and candlestick patterns for better market analysis.
- Realistic Goals: Aiming for $164/day means consistent trading, strong risk management, and capital discipline.
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2. Choose the Right Strategy:
- Scalping: Make small, frequent trades for quick profits (0.5%-1% per trade). Requires capital and high accuracy.
- Swing Trading: Hold positions for days or weeks to capture larger trends. Good for beginners.
- Spot vs. Futures Trading: Start with spot trading (lower risk) before exploring futures (higher risk with leverage).
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3. Master Technical Analysis:
- Identify Divergence: Look for price and indicator divergences as signals for potential reversals.
- Use Indicators: Use RSI for overbought/oversold signals, and MACD for trend strength.
- Risk/Reward Ratio: Aim for at least a 1:2 or 1:3 risk-to-reward ratio to protect your capital.
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4. Risk Management:
- Position Size: Risk only 1-2% of your capital per trade.
- Stop-Loss: Always use stop-loss to limit losses and set take-profit orders to secure gains.
- Leverage: Use cautiously. Start with small leverage, especially as a beginner.
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5. Consistency and Discipline:
- Trading is about long-term consistency. Stay patient, stick to your strategy, and avoid chasing quick profits.
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By following these principles and staying disciplined, earning $164 per day on Binance is achievable for beginners!
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