"BNB or BTC — What's on your mind? 💭 #BotOrNot #BNBChainMem | maryambalouch on Binance Square

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"BNB or BTC — What's on your mind? 💭#BotOrNot #BNBChainMeme #Binance 

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772.38

+0.59%

BTC

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+1.36%

172

0

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What's on your mind? $BNB or $BTC? 💭 #BotOrNot #BNBChainMeme #Binance #FreeEarnings

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I recently completed a trade on Binance using the BNB/USDT trading pair. I observed that BNB had broken through a significant resistance level, signaling a potential upward trend. Based on this, I decided to enter the trade at $570. To manage my risk, I set a stop-loss at $550 and aimed for a target price of $600. The market moved steadily, and I exited the position with a healthy profit. My trading strategy mostly relies on simple technical tools like the RSI and MACD indicators. While I’m still gaining experience, documenting and sharing my trades allows me to reflect on my decisions and improve over time. Binance's user-friendly interface and real-time data make it much easier to monitor trades and adjust strategies when needed.

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#BotOrNot My 3-Day Experiment with Binance’s Trading Bot Discussion: I decided to test Binance’s built-in trading bot by investing $200. I set it up to trade BNB using basic technical analysis, with resistance and support levels based on the past seven days. The bot was configured to buy if the price dropped by 0.23% and sell after a 0.28% increase. Over the course of three days, the bot made 22 trades. The result? A profit of just $0.02. Interestingly, if I had just bought and held BNB over the same period, I would’ve been down around $2. So, in that sense, the bot did technically perform better. Still, a two-cent gain is hardly worth the effort. Another issue: the bot isn’t truly “set and forget.” It needs frequent tweaking, and in a volatile market, its parameters can quickly become irrelevant. During a real bull run or crash, the bot would likely struggle to keep up with rapid price swings. Conclusion: Promising in theory, but underwhelming in practice. #BotOrNot

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