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.

[Plutomanian]

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.

Newbies here will do their best to catch up because the market is kind of complicated and also simple at the same time, you're the one that would decided which area will be challenging and also the area that would be easy for you. It's just a matter for everyone to know exactly what they're doing before backing their plans up with alternatives. Do you know as you're planning to accumulate profits from the market, that's how the market is planning to extort more losses from you because that's how the cycle keep working.

We have only two obligations here, ensure we teach these newbies the basis of the market and secondly, encouraging them on how to open positions and keep their hope alive in the market. Do you know to simply tell them into her to motivate them? Its simple, a moving man will meet his luck, this is enough for them to keep pushing and learning new thing everyday in the market.

[BitMaxz]

I thought you are going to tell us the difference trading on FX brokers and crypto exchanges.

Don't forget they have a big difference since FX brokers only earn from spread or flat commissions compared to crypto exchanges that have tiered trading fees and discounts, including funding fees when trading with futures.

Don't forget these if you are trading from FX brokers, and if you are trading on Binance, I always suggest you hold a small amount of BNB to get discounts.

[Son Of Blockchain (SOB)]

~snip

Newbies here will do their best to catch up because the market is kind of complicated and also simple at the same time, you're the one that would decided which area will be challenging and also the area that would be easy for you. It's just a matter for everyone to know exactly what they're doing before backing their plans up with alternatives. Do you know as you're planning to accumulate profits from the market, that's how the market is planning to extort more losses from you because that's how the cycle keep working.

We have only two obligations here, ensure we teach these newbies the basis of the market and secondly, encouraging them on how to open positions and keep their hope alive in the market. Do you know to simply tell them into her to motivate them? Its simple, a moving man will meet his luck, this is enough for them to keep pushing and learning new thing everyday in the market.

You're getting it all wrong bro, the market is complicated cause of it's volatile and speculative nature but never simple, it's not even simple for those with advanced knowledge due to the factors I mentioned talk more of beginners. We all know that trading is a more risky path to follow it's not something you should encourage beginners to start with all in the name of catching up later, they might even get discouraged about crypto at large before fully catching up.
 Your first obligation is spot on but I won't support encouraging newbies to trading, I believe a good number of members here who fully understand the risk would agree with me on that. You'll never see anyone that would say they regret buying and holding Bitcoin for long-term but then people mostly complain how risky and complicated trading is even for experts/how it's similar with gambling, so becareful on what you encourage newbies on.

[Realwhot]

Futures trading actually have a lot more potential than spot trading, but don't be deceived by the profits ...many beginners also tend to  underestimate how quickly leverage can liquidate an account. Understanding risk management first is  more important than trying to find large winning trades. One important thing i will like to add would be emotional discipline, plenty people with good strategies can still end in failure simply because of revenge trading, greed and fear. Futures trading requires  much mental training as it is technical so having discipline and an adequate mind set will reduce your losses.

[Plutomanian]

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 .

You no no say things de advance? Omo no do oh, trading na the main Koko for weytin de happen for the space now oh, make I no lie. You no weytin I de even try talk? Future trading remain the crude oil in crypto, go check am out before you come de comment oh. Bro no cap, I've been in the space and know exactly what's happening and how the market works. Na you go de see trading as one hard thing to learn and to trade. E de very simple, except if you want make e hard you, na when e go hard you my bro. Just learn the basis of the market, know weytin you de come do for the market and not forget to set up your SL and TP because this features de very important.

Then listen to me, I explicitly said, I'm new here and want to learn more techniques about trading. Besides trading no be everyday profits, no be everyday be Christmas day and some days, person go record loss. Don't inculcate the habit of fear inside people wey wan learn how to trade because trading don deliver me on several occasions and know weytin I de talk because the market de friendly sometimes and e no dey sometimes.