I have use this trading strategy to trade on binance. The key factor is knowing what you doing, having the knowledge and looking out for trends and patterns in the current market. Know this things before starting spot or futures trading ;
Fundamental Analysis
Market Sentiment: Pay attention to broader market trends and news events that can impact cryptocurrency prices.
Project Fundamentals: Research the underlying technology, team, and community of the cryptocurrencies you're interested in.
Tokenomics: Understand the token's supply, distribution, and utility.
Technical Analysis
Chart Patterns: Identify patterns like head and shoulders, double tops/bottoms, and triangles to predict price movements.
Technical Indicators: Utilize indicators like RSI, MACD, and Bollinger Bands to gauge momentum, overbought/oversold conditions, and volatility.
Candlestick Charts: Analyze candlestick patterns to understand market sentiment and potential price reversals.
Risk Management
Diversification: Spread your investments across various cryptocurrencies to reduce risk.
Stop-Loss Orders: Set stop-loss orders to limit potential losses.
Take-Profit Orders: Use take-profit orders to secure profits at predetermined price levels.
Position Sizing: Determine appropriate position sizes to manage risk effectively.
Binance's Trading Tools
Binance Futures: Trade futures contracts with leverage to amplify potential profits and losses.
Binance Spot: Trade on spot to gain profits, entering into a market with a coin that has a solid base and you see potential for it’s growth to amplify your rewards #BinanceSpotTrading $BTC