Day trading on Binance involves buying and selling crypto assets within the same day to profit from short-term price movements. Successful day traders focus on high-liquidity pairs such as BTC/USDT or ETH/USDT to enter and exit trades quickly.
A common strategy is scalping, where traders target small price changes repeatedly throughout the day. Another approach is breakout trading, which involves entering trades when the price breaks above resistance or below support levels with strong volume.
Risk management is crucial; traders often use stop-loss orders to limit losses and take-profit levels to secure gains. Technical indicators like Moving Averages (MA), Relative Strength Index (RSI), and Bollinger Bands help identify entry and exit points.
Day traders must follow market news, avoid emotional decisions, and maintain strict discipline.
Binance offers low fees and fast execution, making it suitable for day trading, but it still carries high risk due to crypto market volatility.