Trading on Binance involves buying and selling cryptocurrencies to take advantage of price fluctuations.
๐ How does it work?
You buy a crypto at a low price and sell it for a higher price to make a profit.
But the market is very volatile, so prices can also drop quickly.
โ ๏ธ Beginner mistakes
Buying out of FOMO
Trading without a strategy
Risking all your capital
Ignoring risk management
๐ Basic tools
RSI: detects if the market is too high or too low
Volume: shows the strength of the movement
Trend : market direction
OI (Open Interest) : open positions in the market
๐ก๏ธ Important rule
Never risk more than 1 to 5% of your capital per trade and always use a stop-loss.
๐ฏ Conclusion
Trading is not a quick way to get rich, but a learning process based on discipline and patience.