🎁🎁How much have you lost on Binance Futures? Leave a comment. You may receive a gift of free USDT 🎁
✅Never use more than 5% of your Binance Futures portfolio in a single trade.
✅ Always move the stop loss to the entry and close 50 or 70% of profits, when your trade reaches 100+ or 200+ ROI.
✅Do not exchange news events. Always wait for news to be published before making a decision. I lose a lot of money to learn to make sense.
✅Leverage refers to how much you have invested in a transaction, while margin refers to the amount of money you need to put up as collateral for each transaction.
✅The difference between leverage and margin is important. You can leverage your money to increase your profits or reduce your losses on a trade.
You can have no excuse for your inaction❗️
If you want to succeed, you act, you go through many obstacles, but you don't go back.
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I lost $30,000 when I started trading📉 It was a dark period of my life, full of regret, confusion and feeling of failure. I wanted to give up.
But instead, I made three crucial changes that changed my way of thinking:
1. Trade fewer pairs It was everywhere. I was able to find profitable setups, but I was trying to do it with 5-10 pairs a DAY. I had 2 monitors with multiple charts open on each and I refused to miss a single trade.
I realized this led to sloppy execution and poorly managed operations.
I made it a rule to never have more than two charts open and never be in more than one trade at a time.
It was a difficult rule to follow at first, but it greatly increased the quality of my trades. Currently I only trade almost exclusively
2. Management of Emotions:
One of the most difficult things in trading is controlling emotions. FOMO, panic selling, greed – they all affected me initially. I started using risk management techniques, setting stop losses, and keeping a trading journal to keep track of my emotional triggers.
3. Smaller size
You don't lose $30k with a small size. You lose it by increasing your size much faster than your skill level. Which is exactly what I was doing. My ego didn't want to accept trades and make only $50 to $100. He wanted to earn between $500 and $1,000. But he was not prepared to face the losses that this entailed.
The large size I was wearing along with my other flaws led me to the hole I dug myself into. I got rid of my ego and downsized.
This helped me trade with less fear and slowly start to develop some consistency.
It is by far the most important thing I did and the most common mistake I see people make.
The journey from a 30 hole.000 dollars to constant profitability was not easy or fast
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