My Trading Experience on Binance Exchange
I started trading on Binance about a year ago, and honestly, it’s been a mix of wins, lessons, and growth. I mainly focus on spot trading, which means I buy and sell crypto assets directly, without using leverage. I chose spot trading because it's less risky compared to futures or margin trading.
My Trading Style:
I would describe my trading style as "swing trading with a touch of HODLing." Here's how I go about it:
Research First (DYOR – Do Your Own Research):
I always check project fundamentals, roadmaps, community strength, and news.
I use platforms like CoinMarketCap, Twitter, and Binance’s own blog for updates.
Technical Analysis (Basic Level):
I use basic indicators like RSI (Relative Strength Index), MACD, and Support/Resistance Levels.
I trade on the 4-hour or daily charts, not the 1-minute ones. I don’t like to panic.
My Strategy:
I enter trades after confirmation of a trend (usually after a small breakout).
I never invest more than 10% of my portfolio in a single coin.
I set a target profit of 10-30% and always use a stop-loss of 5-8% to protect myself.
Risk Management:
I never “go all in.” I keep USDT aside to buy during dips.
I don’t chase pumps. If a coin has already pumped 50% in a day, I ignore it.
Coins I Trade:
I stick to top 50 coins like BTC, ETH, BNB, MATIC, and SOL.
Occasionally I try low-cap coins for high risk/reward, but with small amounts.
Mistakes I’ve Learned From:
Bought FOMO coins during pumps and got dumped on.
Ignored stop-loss and watched my portfolio bleed.
Traded emotionally instead of sticking to the plan.
Tools I Use on Binance:
Price Alerts: For major support or resistance levels.
Auto Sell/Buy Orders: To take profits or cut losses.
TradingView Chart Integration: For better chart analysis.
Outcome So Far:
In my first 6 months, I was down by 20%.
After refining my strategy and being more disciplined, I’ve made a net gain of around 40% over the past 4 months.
Final Advice:
Trading on Binance can be fun and profitable if you’re patient, disciplined, and always learning. Don’t let emotions control you. Sometimes, the best trade is not trading at all!