How to start day trading on Binance with a small capital: A practical guide for beginners
With the rapid growth of the cryptocurrency market, day trading has become an attractive option for many seeking quick profits.
Day trading is a strategy that relies on opening and closing trades within the same day to achieve quick profits from market fluctuations. Day trading requires greater focus, quick decisions, and a clear strategy.
Manage capital wisely.
Stick to a strict trading plan.
Avoid entering random or emotionally driven trades.
You need to start:
Simple capital:
You can start with $10 to $50; the idea is not about the amount, but about the percentage of daily profits you achieve.
Simple technical analysis indicators:
RSI indicator (to identify overbought areas).
Moving averages (EMA 9 and EMA 21).
Support and resistance areas.
Practical steps to start day trading:
Identify the suitable currencies
Choose currencies with high liquidity and active price movement.
Create a daily trading plan
Set a target profit percentage
Acceptable loss percentage (Stop Loss).
Do not trade without analysis
Open the chart, monitor price movement, use indicators, and wait for real opportunities; do not enter the market just because you feel it will rise.
Monitor the news
Any positive or negative news that may quickly affect the movement of currencies.
Golden tips for beginners:
Do not use leverage at the beginning.
Record each trade in a notebook to learn from mistakes.
