Dare to Trade Futures on Binance Square! Simple Guide for Beginners!
Hello, Crypto People! Have you heard about futures and does it sound like Mandarin Chinese? 🤔
Don't worry! Today I'm going to explain, in plain English, how to Trade Futures on Binance Square without dying in the attempt. It's like surfing a wave, but digital!
Step 1: What are Futures?
Imagine you bet on whether the price of Bitcoin will go up or down. If you're right, you win. If not, you lose. The advantage is that you can do this with "Leverage", meaning using borrowed money to bet bigger. But be careful! This multiplies both gains and losses.
Step 2: The Preliminaries on Binance!
First, you need to have USDT in your futures wallet. If you don't have any, exchange it from your Spot wallet. Look for the "Futures" section and transfer.
Step 3: Open Your Position!
Choose your Crypto: Do you think Bitcoin (
$BTC ) will go up or Ethereum (
$ETH ) will go down?
Leverage: Here’s the key! Start with low leverage (3x, 5x) until you understand. It's like the speed in your car, don't start in fifth gear!
Order Type: "Market" (Current Price) or "Limit" (When it reaches a certain price).
Buy/Sell (Long/Short): If you think it GOES UP, you open a "Long". If you think it GOES DOWN, you open a "Short".
Stop Loss and Take Profit: This is VITAL! Set when to close the position automatically to limit your losses (Stop Loss) or secure your profits (Take Profit). Don't trade without this!
Step 4: Close and Learn!
When you decide to close, just hit the button. You will have won or lost. Futures are exciting, but require study and discipline. Start small and learn from every move!
#PrincipiantesCripto #InversionistasGlobales #CriptoVenezuela