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Author Topic: binance futures managing loss  (Read 79 times)
forestx (OP)
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February 17, 2021, 05:07:12 PM
 #1

I got into futures a couple of weeks ago and am currently trading with a very small budget and trying to learn it
As well as using my own judgement and analysis I am also a member of signal groups and looking at other traders positions on the leader board
Most of my trades are 10 or 20X isolated
So far I have a 70% success rate on a pure win/lose ratio however I am running into the same issue I have with spot trading, trying to manage loss
I am good and setting take profit goal but stop losses are not great

How thight should a stop loss be. I had one long trade on with BNB and it wigged down to my stop loss before hitting my take profit goal.
However on an other trade I didnt set a stop loss and it just kept going down and was liquidated.

I thought if I see the price move go in the opposite direction of my trade I will close early and re-buy in
This happened yesterday and I broke about even.
However today was a disaster went short on a coin and it went up so sold as a loss and bought long only for it to reverse and go lower than were my original short was.

I am trying to set stop losses around 30-50% is this too tight or too wide.
I am looking to only do one or two trades a day and build up capital   

Any advice on the best way to handle this or a guru or guide videos or information  I should read or what I should do next
jackg
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February 17, 2021, 05:11:44 PM
 #2

Stop trading!

Or start paper trading or put a few $ (20 Max) on an exchange and start trading with that. Watch charts, see how they move and where the best time to put a trade in is (draw lines on the graphs too for where you think stuff is going to go). 

If you're not turning a profit, you're not going to raise capital and you're just going to lose funds.

(also cut out the leverage if you want a less riskier way to build capital thatll take longer but should lose you less overall).

Edit: a 70% win ratio can still cause a loss if managed poorly. A few $ profit is better than 200%, just don't risk more than 10% of your capital on a single trade).
bittraffic
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February 17, 2021, 05:20:09 PM
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Don't take this advice like it's from the expert but it appears like all your trades go against your position, you must have misread the chart. Learn what the indicators are prompting. The indicators will tell you whether the market will go up or stay down in a given time frame. If you can't identify whether it goes up or down in the next week, then stop trading.  When you look into the daily trading chart, you should also be looking at the weekly chart.


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forestx (OP)
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February 17, 2021, 05:36:00 PM
 #4

well the losing ones go against my position  Smiley
I am not going to have a 100% win so trying to figure out the best way to manage

I paper traded in spot a bit and got 80% success the issue with futures is obviously the threat of liquidation as well as large swings one way or another

I am trying to do very quick swings and catching coins on up swings but dont know if that is the best course
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