#Alpha tokens now and then | Nongthang on Binance Square

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#Alpha tokens now and then

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#2019 Binance Heck & Their Quick Action - That's why Binance hold No.1 Crypto Exchange In May 2019, Binance, one of the world’s largest cryptocurrency exchanges, experienced a significant security breach in which hackers stole 7,000 bitcoins—approximately $40 million at the time—from its hot wallet. This breach was attributed to a combination of phishing, malware, and other sophisticated techniques that compromised user API keys and two-factor authentication codes .(siliconangle.com, securityweek.com) The stolen funds represented about 2% of Binance's total bitcoin holdings, and the breach was confined to its hot wallet; other wallets remained secure. In response, Binance temporarily suspended deposits and withdrawals while conducting a comprehensive security review. The company assured users that the losses would be fully covered through its Secure Asset Fund for Users (SAFU), an emergency insurance fund established to protect users in such scenarios .(portswigger.net, securityweek.com) Despite the severity of the incident, Binance's swift action and the availability of the SAFU fund helped maintain user confidence and mitigate potential long-term impacts on the platform's reputation.

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#Future traders- How to become a successful trader ? PART-3 and FINAL 7. Start Small and Scale Up Begin with a small account to limit losses while you learn. Focus on micro or mini contracts (e.g., Micro E-mini S&P 500 futures) to manage risk. Only increase position sizes after consistent profitability. 8. Stay Informed and Adapt Follow market news via Bloomberg, Reuters, or X posts for real-time insights. Monitor economic calendars for events like CPI releases or FOMC meetings. Continuously refine your strategy based on market changes and personal performance. 9. Learn from Mistakes Analyze losing trades to identify patterns (e.g., poor timing, ignoring stop-losses). Avoid revenge trading or doubling down on bad decisions. Seek feedback from experienced traders or mentors. 10. Invest in Continuous Education Common Pitfalls to Avoid Overleveraging: High leverage can wipe out your capital quickly. Ignoring Risk Management: Always prioritize capital preservation. Lack of Patience: Success takes time; don’t expect overnight riches. Chasing Tips: Rely on your analysis, not random signals or hype. Final Tips Time Commitment: Dedicate 1–2 hours daily to analysis and learning. Capital: Start with $5,000–$10,000 for micro/mini contracts, but only risk what you can afford to lose. Mindset: Treat trading as a business, not a gamble. Aim for consistent small gains (1–2% monthly) Disclaimer: I am not a financial adviser; please consult one.

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#Future trader- How to become a successful trader?-PART 2 3. Create a Trading Plan Define Goals: Set realistic profit targets and risk tolerance. Strategy: Develop a clear trading strategy (e.g., trend-following, breakout, or scalping). Backtest it using historical data. Rules: Include entry/exit criteria, position size, and maximum daily loss limits. Journal: Track every trade, noting what worked and what didn’t. 4. Practice with a Demo Account Use platforms like NinjaTrader, Thinkorswim, or Interactive Brokers to practice trading with virtual money. Simulate real market conditions to test your strategy and build confidence. Spend at least 3–6 months paper trading before risking real capital. 5. Choose a Reliable Broker Look for low commissions, fast execution, and robust platforms. Ensure the broker is regulated (e.g., by CFTC in the U.S.). Popular choices: Interactive Brokers, TD Ameritrade, or AMP Futures. 6. Master Emotional Discipline Avoid Overtrading: Stick to your plan and avoid impulsive trades. Manage Fear and Greed: Don’t chase losses or get euphoric after wins. Stay Consistent: Follow your strategy even during losing streaks. Practice mindfulness or journaling to maintain emotional balance. To be continued .......

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#Future trader - How to become a successful trader? - PART -1 Becoming a successful futures trader requires a combination of knowledge, skills, discipline, and experience. Here’s a concise guide to help you get started and improve: 1. Understand Futures Trading Learn the Basics: Futures are contracts to buy or sell an asset at a set price on a future date. They involve commodities, indices, currencies, or financial instruments. Key Concepts: Grasp leverage, margin, contract specifications, expiration dates, and settlement processes. Resources: Read books like Futures Made Simple by Kel Butcher or Trading Commodities and Financial Futures by George Kleinman. Explore online courses (e.g., CME Institute, Investopedia). 2. Develop a Strong Foundation Market Knowledge: Study the markets you want to trade (e.g., oil, gold, S&P 500 futures). Understand supply-demand dynamics, economic indicators, and geopolitical factors. Technical Analysis: Learn chart patterns, indicators (e.g., moving averages, RSI, MACD), and candlestick analysis. Fundamental Analysis: Analyze macroeconomic data (e.g., interest rates, GDP, inflation) and asset-specific factors. Risk Management: Master position sizing, stop-loss orders, and risk-reward ratios (aim for at least 1:2). To be continued ......

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#Alpha point accumulation mechanisms - Accumulating alpha points on Binance with 1,000 USDT is risky. Points earned on the first day are deducted on the 16th day on rolling basis. For example, if you earn 10 points daily, you’ll have 150 points by day 15, but on day 16, the first day’s points are deducted, leaving you with 150 points. To reach 250 points, you need a high volume of alpha tokens trading, which are highly volatile. Trading volatile tokens increases the risk of losses. If I am wrong, please correct me,

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