Looking for a step-by-step guide on how to trade Binance Futures?
Today I have the best guide for you on how to register on the Binance exchange and how to do future trading step by step.
Let's go straight to the guide.
The first thing we have to do to be able to do Future Trading through binance is to open an account. If you register through the link below you will get a 10% discount for one month on your transactions.
Table of Contents
How to open an account on Binance.
After we press the button above it puts us on this page that tells us to create a free account, then we put our email and a strong password.
In the following video you will be able to find enough information about your registration and how to get an ID and residence certificate. Once we are done with the certification and all we have to do is buy USDT or euro and convert them to USDT. You can see details about this in the video above.
How to do Future trading on Binance
Now that you have bought coins or have some usdt what you do is click on the binance home page and then we will go to our cursor on the DERIVATIVES category and then we click on USD $ -M FUTURES
Once you enter the middle the chart on the right will show you the traders who sell and buy and who have been placed by order and for how much money. Now to go step by step we must first transfer the money from our spot account to the future account.
So at this point go to the Assets category and click Transfer.
Once the window with Transfer opens we click on from to be from spot to Future in the coin we select the USDT and in Amount we put the money we want to send from the spot account to the future. After everything goes well with confirm then our money will appear on the top right.
The next step is to go to the category on the top right above our money and select Isolated or Cross. The differences between the two are that for example the cross if we take a trade with $ 20 and start and lose if we have not put a stop loss and our loss starts and exceeds $ 20 then it will start withdrawing from our future account . Isolated is that for example if we have taken a transaction with $ 20 and we have not put a stop loss if it reaches $ 20 loss the transaction directly slopes and we lose only the € 20 we had put.
The next thing we need to be very careful about is the Adjust Leverage, to a beginner I would not say to exceed x3 until you gain experience and familiarity.
How does leverage work?
In very simple words, if we say that we have spent $ 80 in our account if we put x10 leverage and risk all our money, ie $ 80, the money that will go into the trade that we will do will be $ 800, ie $ 80 x10x.
The next step we will take is to get a presentation for presentation purposes will be done at a random point.
Now to get a trade from where we need to do is technical analysis. That is, we enter the Tradingview we make a free account and in the search we write the currency ICP/USDT I have it I have made my chart and I see that the currency gave a strong movement upwards and after finding resistance at a resistance level we notice that it has entered a channel the best what we would do is to wait for the falling line or the rising line to break in order to have more confirmation.
For more information on the technical analysis click here down in the article I show several things.
Now that we have an idea of how the market is moving we come to Binance Future and go get the trade. Well, initially, as we said before, we select isolated and I put x5 lever, you put what you want, but for a start, less than 5x.
Below we have two options, the limit and the market with the market we buy at the price we want now while at the limit we buy at a better price and generally with the limit we have less fees.
At Avbl it tells us how much money we have and below we put what we want to buy and in size we put the percentage we want to invest in this trade I from 80 $ I put 10%, that is with 10% it is about 8 $ and with leverage x5 we have entered this trade with 39,53.
At the very bottom we click on TP / SL and here is a very important point for where to put stop loss and where to take profit.
Everyone can put the take profit where they want, what I do is put stop loss under strong support. I have put them in dots but I chose the long stop loss since I have kept the risk.
After we put the take profit and the stop loss we press buy / Long if we wanted to invest in the fall we would press Sell / Short.
Once clicked buy will take you to open orders until it is executed and go to positions.
These were the basics on Future Trading that you need you can write me in the questions and enrich the guide even more. Thank you very much.
Cryptocurrency trading is VERY risky. Make sure you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your money
The above links to the services mentioned may be affiliate links. If you use the service through them then you help the BitsounisProject to continue to exist, at no extra cost to you.