Top 5 tips to increase your profits in trading on Binance from personal experience
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Introduction:
The first time I heard about Binance, I thought trading was just luck... enter a coin, it goes up, sell and profit. But reality taught me that it's much deeper. After losses and gains, and after long nights in front of charts, I gathered the 5 most important tips that I felt made a difference in my profits and protected me from bigger losses.
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1. Don't enter any trade without a plan
The biggest mistake I made in my early days was entering the market just because the coin was 'up' or 'people were talking about it'. The result? I was buying at the peak and selling at the bottom. The simple plan is: define the entry point, exit point, and risk percentage before any trade.
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2. Follow the news... the market is affected by rumors
Once I was watching a small coin on Binance, and suddenly its price rose by 20% within minutes due to news of a new partnership. If I hadn't been following the news, I would have missed the opportunity. Economic news and statements from founders can change market direction in moments.
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3. Capital management is more important than technical analysis
Even if you are the best technical analyst, without strict capital management, a single losing trade can wipe out a month's profits. Personally, I don't risk more than 5% of my capital in any trade.
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4. Don't chase the trade
The market offers opportunities daily, so don't pressure yourself to enter a late trade. If you missed it, don't try to make up for it immediately. Patience and waiting for a new opportunity is better than rushing in and ending up with a loss.
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5. Learn from your losing trades before your winning ones
After each trade, write notes: why did I enter? why did I exit? what could I have done better? Losing trades are the best school for trading if you know how to analyze their causes.
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Conclusion:
Trading on Binance is not a fast track to wealth, but it's a great opportunity if you know how to manage your risks and deal with the market with a cool head. Apply these five #BNBBreaksATH tips, and trust me... you will notice the difference over time.
