Binance future trading is the crude oil in crypto

[Plutomanian]

Few crypto traders know about future trading on Binance. This is consider to be the crude oil of crypto trading just like we have FX. For instance every FX trader have their favorite pairs to trade but the most volatile pair that brings in gigantic profits is GOLD. XAAUSD is the crude oil in FX same thing about crypto trading. Future trading is seen to be complicated but with the basis, it's very simple to understand the basis of future trading, just be dedicated and know what exactly what you're doing in the space. There are quite features one must be acquainted with before diving into Binance future trading.

Leverage: it's important to know the account size of your port folio. A good leverage can result in big profits. The risks of attaining higher heights in trading becomes very simple when you know the leverage to implement. Do you know the higher the leverage, the bigger profits also vice versa to Losses.

Risk management: this is crucial and very important to understand the risks involved. In everything, always ensure to stay put because taking risks can cause the liquidation of account.

Long and Short positions: traders can be disciplined and choose to follow the direction of the market. When the market move in an upward movement, it's wise to follow the movement of the market. The upward and downward movement of the market comprises of long and short positions.

Buy and Sell positions: buying is the longing of positions while selling is the shorting of positions. This is normal and important to know before you can open trades as a crypto trader.

I'm new here and wish to learn more, you can add yours.

[Lembo69]

Just as leverage can bring high profits or gains, it can also cause losses. Due to leverage, you can make many wrong decisions in a hurry. The wisest thing to do would be to use stop loss. Using excessive leverage can lead to liquidation of your account. Because high leverage is usually used by those who make decisions based on emotions. The more emotions you give priority to in trading, the more losses you will face. Therefore, the right thing to do is to understand the market and then decide to take risks. The more you know about the market, the more aware you will be in these two decisions - buy and sell.

[Perfectbaby]

I must say trading is not as easy as it may seems to be if you must know.
I wouldn't allow anyone to go use higher leverage with the hope of making it quickly while trading because as I know, when trading if you like for instance 2x to open a long position the same way the risk would be that lower for you than using 5x to 10x you could easily lose when the market goes against your choice. The best is use a lower leverage and make sure you have enough funds not to be liquidated.

[Son Of Blockchain (SOB)]

 Just like drilling crude oil in Nigeria is tough and risky that's how risky trading is, i know that there are traders in our local board who understands what they're doing and would find this thread interesting cause they've mastered how to manage risks and avoid too many loses but be aware that there are many beginners in crypto here too.
 Therefore I don't always like to encourage trading in our board cause of them, most of them would want to give it a trial on hearing that it's the crude in crypto without having a better knowledge of it to minimize risks. That's why I'll always encourage buying and holding Bitcoin instead of trading cause that's a better option for beginners.

[EluguHcman]

Leverage: it's important to know the account size of your port folio. A good leverage can result in big profits. The risks of attaining higher heights in trading becomes very simple when you know the leverage to implement. Do you know the higher the leverage, the bigger profits also vice versa to Losses.

In trading it is more risky when traders opens margins with the plans of gaining big profits while leverage trading makes the market more risky because your margin can easily be liquidated and your will be potential to loose all of your money.
Maybe it feels good because you can use a small amount of your capital to open a larger market to make big profits.

However, this seems to be one or the most difficult trading strategy and not easy as you think OP because you are leveraging for price to increase in the short term when short term volatility is more difficult to be predicted.

[Barikui1]

Ona dy very funny for this our local board oo, like how trading for binance futures use be another crude oil?
Trading wey hard wetin no good, nai you dey address as crude oil. You no know say crude oil mean consistent and easy money?
I know say money really dey trading, but to dey profitable in trading, you need years of dedicated work and learning, and even at that, you no still dy sure if you go dey profitable because knowledge alone no dey enough in trading. Patience, emotional control, knowledge in technical and fundamental analysis, and a good money management skills is very important if you want to make some money in the market, but I urge you to kill that idea say binance trading na crude oil. No be free money like crude oil bro .

[Hypnotizer]

@OP future trading doesn’t exist in binance only, they exist in most trading platforms all around the globe, and talking about FX traders favorite pair that bring gigantic profits….no be say eh easy like dat.

Just like drilling crude oil in Nigeria is tough and risky that's how risky trading is

Tbh it is even more riskier than drilling crude, so it is not even comparable in terms of risks. I don’t even understand the logic behind comparing Futures trading to the crude oil in crypto, it doesn’t seem right.

Therefore I don't always like to encourage trading in our board cause of them, most of them would want to give it a trial on hearing that it's the crude in crypto without having a better knowledge of it to minimize risks. That's why I'll always encourage buying and holding Bitcoin instead of trading cause that's a better option for beginners.

And this post seems to be kinda shilling the concept of future trading without taking much about the risks, so beginners might actually think of trying it out to cashout big without knowing what it fully is.

@OP maybe next time you’re creating a thread about something like this, you should add both the pros and cons and not only the pros.