How to Manage Trades on Binance with $100: A Step-by-Step Guide
Binance is one of the world’s largest cryptocurrency exchanges, offering various tools and options for trading. Starting with $100 might seem small, but with proper planning and strategies, you can make steady progress. Here's how to manage your trades effectively on Binance.
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1. Choose the Right Trading Pairs
Binance offers hundreds of trading pairs, but not all are suitable for beginners with small accounts. Focus on:
Stable Coins (e.g., USDT, BUSD): Start with pairs like BTC/USDT or ETH/USDT for stable price tracking.
High-Liquidity Pairs: Ensure you trade pairs with high trading volume to avoid slippage.
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2. Understand Binance’s Features
Binance provides several tools and trading options:
Spot Trading: The simplest and best option for beginners. Buy low and sell high.
Futures Trading: Offers leverage but comes with higher risks—use cautiously.
Binance Earn: If you’re not actively trading, stake your funds to earn passive income.
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3. Implement Risk Management
With $100, safeguarding your capital is critical.
Risk 1-2% Per Trade: Limit your loss to $1-$2 per trade. This allows you to survive losing streaks.
Set Stop-Loss Orders: Protect your funds by automatically exiting a trade if the price goes against you.
Position Sizing: Avoid putting all $100 into one trade. Allocate small amounts to diversify.
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4. Use Binance’s Tools for Analysis
Binance provides built-in charting tools powered by TradingView.
Learn Basic Indicators: Start with Moving Averages, RSI, and MACD to spot trends.
Analyze Trends: Look for support and resistance levels before entering trades.
Practice Patience: Wait for the right market conditions instead of jumping into trades impulsively.
part 2 👇