Exercise caution and consider these golden tips
🔒 1. Account Security First
Enable Two-Factor Authentication (2FA) using Google Authenticator.
Do not share your login details or authentication tokens with anyone.
Use a trading-specific email different from your personal email.
📚 2. Learn the Basics of Trading
Understand the difference between order types:
Limit = An order at a price you specify
Market = Instant order at market price
Stop-Limit / Stop-Market = Stop Loss Orders
Learn about trading pairs (like BTC/USDT or XRP/BTC) and monitor liquidity.
📊 3. Capital Management
Do not risk more than 1-3% of your capital in a single trade.
Allocate part for trading and part for long-term investment.
Use leverage very cautiously (in futures).
🧠 4. Trade with a mind, not with emotion
Do not enter a trade due to 'FOMO' (fear of missing out).
Always have a plan (entry point, stop loss, and take profit).
Stick to the plan and do not chase the market.
📅 5. Follow news and updates
Global economic news, interest rate decisions, bitcoin movements, and blockchain updates directly affect the market.
Monitor the official Binance account and the CoinMarketCap and CoinGecko accounts.
🧮 6. Technical Analysis + Fundamental Analysis
Use tools like RSI, MACD, support and resistance lines, candlestick patterns.
Fundamental analysis: Study the project, team, supply, partnerships, etc.
🧪 7. Test your strategies
Try a demo trading account or small trades.
Evaluate your results monthly to adjust your strategy.
🧠 8. Learn from mistakes and do not fight the market
Commit to recording all your trades (daily log).
Review mistakes, and learn when to exit before a major loss.
🛠️ 9. Use Binance tools wisely
to protect increasing profits.#TrailingStopLoss
: To place two orders (Take Profit + Stop Loss) together.#OCOEnthusiast
Analysis pages in Binance Spot or Futures to follow the trend.
🧘 10. Ensure mental well-being
Do not trade when you are exhausted or stressed.
Trading less with better quality is always better than trading a lot randomly.