Binance Futures

in #cryptolast year

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I'm spending more and more of my spare time trading crypto futures on Binance. It's a really good platform and returns are unbelievable if you are forecasting the right way. You can go up to 125 x leverage but you would want to be stone cold mad to even do that much. The norm is 20x but after a month of trial and error and losing quite a bit , I have finally settled on 6 x . Starting off trading futures you should start off small and be willing to lose a little to learn the ropes. It's more of an investment to make mistakes early and to learn from them. Also never FOMO trade and make sure you get in at the right entry point. You should set a 2% risk of your total portfolio so you will not lose everything on one trade. I started off by setting stop losses. I forgot to set one and I lost quite a bit. I didn't make that mistake again. I don't really like stop losses. Bitcoin is so volatile that your stops could be hit and then your planned take profit could be hit 2 minutes later so I needed a way to hedge my bets. And yes they are bets. So I found a hedge mode on Binance that you can buy and sell the same currency at any one time. So instead of stops I add buy/sell orders so if the price hits a certain point it scalps. It's working for me so far but you have to watch it like a hawk or you go under water. Over the last two months I have had a 60% win ratio which is pretty good. I am making money but the more I build up the more I make. Just tipping away. In turn the fee % is getting smaller the more I make. I only trade currencies against TUSD. Trading alts against BTC is a dangerous game. If Bitcoin plummets they plummet harder against it so you have to be a brave man or woman to do it. There is money to be made but you need to be getting in and getting out so fast. I'm loving this trading malarky. This holding crypto is boring and the returns from compounding is ten times better. It doesn't take a genius to trade either. Just learn the basics and then move onto the TA. There are oceans of great free lessons on Youtube. If anyone wants to join Binance and start up a futures account just follow the link