how to average down and set a stop loss if the price has dropped more than 3-4% if you want to preserve your capital and not play with a blanket higher than 10

Attention Binance Traders! 🥵🚨 #professormike #losstolearn

I’m sharing this example today to caution everyone about the risks involved in futures trading. This is a real-life story of a trader who started with $54,000 and now has a PNL loss of over $32,000. It’s a painful reminder that futures trading is not for everyone and comes with extremely high risk.

As shown here, even when the account has over $21,000 in assets, the losses can still be significant due to the leverage and volatility in futures markets. The market doesn’t forgive mistakes, and without proper risk management, it can lead to massive losses.

That’s why I strongly advise focusing on spot trading instead. Spot trading is much safer, and your money stays secure while still allowing for steady growth in the long run.

🔑 Key Advice:
• Only trade what you can afford to lose.
• Educate yourself before trying futures trading.
• Always prioritize risk management.
• For beginners, stick to spot trading for a safer trading experience.

Let’s learn from this example and avoid unnecessary losses. Protect your investments and trade responsibly! 💡

What are your thoughts? Share your experiences below. 💬#VeThorOnBinance