Hello all Binance users my brothers and sisters. As I am a student and a new user here. Yesterday, I lost my all money which I took from my friend in Liquidation of AXUSDT coin. Its a kind request to help me in this regard. Nobody helping me this time. 🙏🥲 May almighty god bless all of you.
When using hedge mode in futures trading on Binance, what strategies do you find most effective for managing risk while maximizing potential profits? Do you prefer to use technical analysis, set specific stop-loss levels, or implement any particular trading indicators?
Kindly elaborate the strategy for me and also for all new users..
Earning money from Bitcoin or Ethereum can be risky, but here are some common strategies:
1. **Investing and Holding (HODL)**: Buy and hold cryptocurrencies for the long term, benefiting from potential price appreciation.
2. **Trading**: Engage in day trading or swing trading to profit from price fluctuations. This requires market analysis and a good understanding of trading strategies.
3. **Staking**: For Ethereum, you can stake your coins to earn rewards. This involves locking up your crypto in a network to help validate transactions.
4. **Yield Farming**: Participate in decentralized finance (DeFi) by providing liquidity to protocols and earning interest or tokens.
5. **Mining**: If you have the technical knowledge and resources, you can mine cryptocurrencies, although this requires significant investment in hardware and energy.
6. **Airdrops and Promotions**: Keep an eye out for new projects that offer airdrops or promotional rewards for holding specific tokens.
Always do thorough research and consider the risks involved before investing. $BTC