#TradeStories
Being an experimental learner, I have the habit of trying different things and go into depth.
My curiosity led me to try almost all the features of binance. From spot trading to future trading, from spot and future trading bots to copy trading, from binance loans to binance earn, I have tried almost every feature in binance app.
In a nutshell, I learned following lessons.
1. In spot trading, selection of coin is extremely important and without proper research about the coin and it's near and long term future plans coin should never be bought. You can't blame anyone for referring a coin which went 50% down within few days. One of the critical point to consider is percentage of locked tokens and future plan for token unlock. If a long number of tokens are getting unlocked on regular interval but no further investment is coming then price will keep going down.
2. In future and copy trading, always set a target for profit and loss. Setting the stop loss is extremely important because no one can predict when the price may go down and keep going down. You can adjust the profit and stop loss as the trade moves but setting a number is a must.
Hope it will help you at some point in time.
