If you want to start trading futures effectively, the first thing you should do is understand each of the features displayed on this screen. Each of these elements is important, and we must know them. Take some time to review your screen and understand what you are looking at.
You can change the margin mode between cross and isolated. The difference is that in Cross you risk all your money, and in isolated you only have at risk the amount you decide. Although I recommend working in isolated mode, I personally use the Cross mode more for convenience and because I always use a Stop Loss to avoid large losses.
There are different types of orders, by tapping on this option a list will open, and you will have a small tutorial on how each of them works.
To start a trade, we must enter an amount in the box where it says "amount"; this can be an amount expressed in dollars, in the currency you are working with, or a percentage of your capital.
If you have any questions, I will answer them. I hope this introduction helps you start in futures. I will later explain other elements so you know how to enter with little money and avoid losing everything.
Leverage is one of the most important elements, especially for those who wish to start in futures with little capital. When you use a leverage rate, you are effectively asking Binance to lend you money for the operation, multiplying the money you are starting with by the amount of leverage. This means that if you use a leverage of X50, for every dollar you use to enter, the system takes it as if you entered with 50. You won't have these 50 dollars, but the ROI (Return on Investment) will be calculated based on 50 dollars.
Therefore, when you use one dollar leveraged X50, you are generating profits as if you had 50 dollars, and at the same time, your losses will be magnified X50 (not everything could be beautiful).
Generally, the minimum to start in futures would be almost 6 dollars, so how do we start with one dollar? With a high leverage that could be X30 to reduce your risk a bit, enter only with 20% of your dollar, which is 0.20; this will also allow you to have a fairly high liquidation price.
The liquidation price indicates that if the symbol reaches that price, you will lose all your money.
Leave your questions and doubts, and I will answer you. Soon you will be living as a profitable and successful trader.
Last night I couldn't sleep, after seeing what happened with $XNY I was doing a large number of very short operations, between one and two minutes. The token is extremely volatile and I wanted to study it, in addition to making money from it..
My advice and conclusion: do not trade, this will be the most mentioned token this week and you will see people saying they are becoming millionaires, and maybe they are, but for the majority it will be a trap where they will leave their profits and the money meant for their family this Christmas.
Now, due to the behavior of this coin and all the hype, there is a fairly large possibility that its price will rise, some are already speculating that it could reach 1 dollar, which is being too optimistic. It will likely grow and then drop suddenly.
The safest way to take advantage of this token these days will be to buy on spot, waiting for the price to rise and then selling. Considering that it is cheap, it is possible to get some good short-term gains, depending on the amount invested.
Let's go all in people, without unnecessarily risking the fruits of our labor!
I know that no one following me could have had time to enter since my notice, I saw the post, did a quick analysis and knew it was going to drop a little more. Sometimes it's a matter of seconds
The long wick indicates that there was an attempt to sell at that price but it was rejected, the system will only take the body of the candle and not the wicks to start your operation
LuiRod682
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Why does the graph show those increases? And I have scheduled sales, but it doesn't do them?? Are they false signals?
These are the tokens I am trading today and to be clear, THIS IS NOT A RECOMMENDATION, in fact, you should stay away from these if you do not have enough experience in futures, beware of manipulated tokens!
All these movements I have been making with entries and exits between 3 and 10 minutes, the important thing if you are going to enter is to wait for the right moment. Although I could make operations up and down, that increases the risk, so I have taken a single position to avoid losses in case of an extreme movement.
$PIPPIN today has a somewhat slow behavior, but one must be cautious with this operation. In my opinion, it will go down little by little but will first rise to liquidate a huge percentage of traders who have short positions. Optimal entry point near 0.180 exit point near 0.175
$TRADOOR has a behavior similar to PIPPIN, in this case many are waiting for it to have a new bullish movement, I honestly believe that this will not happen so I also trade short. Entry point 1.37 exit point 1.3
$ALLO has had interesting movements in the last days AND oscillates between 0.18 and 0.14 just at this moment it is close to 0.16 and has a bearish trend that one must be careful of as it can reverse at any moment, making short entries and exits is a good option to mitigate risk. Recommended position Short
Lastly, #GIGGLEtoken has been slowly declining but my reading tells me that it is just gaining momentum so I opened a Long position that may hold for several days or end in my SL of 80 and that I find a bit hard to believe will happen.
These are the four tokens you should avoid right now to not lose your money, and although trading with volatile tokens can be lucrative, these coins are behaving in a way that might make you think they are being manipulated against you (I have no proof and no doubts that this is the case)
1. $TRADOOR recently generated a lot of hype and intense FOMO, which is why many lost their money; there are even people filing complaints because they feel scammed.
2. $PIPPIN this is the younger sister of Tradoor, its behavior has been very similar with extremely high volatility, easily "eating" the Stop Loss of a large number of confident traders
3. $GIGGLE can drop just when it seems like it's going to rise and vice versa; this token, like the previous ones, has become a trap to avoid
4. #ZEC/USDT ZEC, like the previous ones, has completely unpredictable behaviors that make you think that what you are seeing on screen is a video game that is working against you trying to kill you
What other "manipulated" token would you add to this list? I read you in the comments.
A few days ago, I was teaching my 11-year-old daughter how this platform works. We reviewed some tokens, and she chose to look at one that seemed fun $BANANA after thinking about it for a while, she decided to buy one dollar of this token, and we would review it so she could understand the normal fluctuations of a cryptocurrency. Her dollar quickly turned into 1.1 in Spot, and she was happy to understand that she had made money 😁
Days later, I was teaching her how futures worked, and I told her I would give her a dollar to trade. She also wanted to trade with BANANA, but when we looked it up, the token $BANANAS31 caught her attention more, so this was the chosen one. To my surprise, she made about 7 dollars in two trades, all amidst screams of stress because the second trade was reversing when it got close to 10 😅. Seeing that it was very easy, I decided to jump in too and lost what she had made and a little more 🤣🤣🤣
Today, she was very happy to download Binance Junior, believing that she would finally have her own account and make her own money. To both our surprise, we found an app that only has a couple of functions. We thank @Binance Labs for the attempt, but they didn't even include anything to teach, tutorials, information about the tokens, or any games; the app has nothing more than a way to send and receive money.
My advice to parents is that if your son or daughter is already burning their retina watching TikTok, playing Roblox, and wasting time with influencers who teach nothing useful, they can also learn useful things that will help them for their future.
One of the most important moments in our day-to-day as traders is the moment of entry. Whether you have little or a lot of experience in futures, you must know that the moment you enter the operation is super important. Entering a few minutes late makes (and a lot) the difference between winning or losing.
But do we really need to be glued to the screen, sometimes for hours, and check our phone every minute to know when the token we want to trade has gone down or up? No, it’s not necessary, and here you will learn a very easy way that will help you get organized and reduce your stress.
This is very simple, but few use it: From the futures screen, we access the chart screen, and at the top right, we will find a bell that, when touched, will display a menu where we will choose the notification that best suits us to start trading at the right moment. We tap "create alert" and that's it, Binance takes care of making our lives less complex.
Did you know about this functionality? Has this content been useful? I hope so and that day by day we continue on this path to becoming profitable traders.