Trading on Binance: The Essentials
Trading on Binance is the buying/selling of crypto assets to obtain short/medium-term profits. To succeed in this 24/7 market, focus on four pillars:
1. Constant Education
Learn about cryptocurrencies, technical analysis (charts, indicators), and fundamental analysis (news). Familiarize yourself with Binance's tools.
2. Risk Management
Only trade with capital you can afford to lose. Always use stop-loss to limit losses and risk a small percentage of your capital per trade.
3. Psychology
Maintain discipline and emotional control. Avoid fear and greed; your plan should guide you.
4. Strategy and Planning
Define your trading style (scalper, day trader, swing trader) and establish clear rules for entering and exiting trades.
Trading is a continuous learning process. Binance provides you with the tools and resources to start in an informed and responsible manner.