Strategies To Avoid Losses In Leveraged Trading!

Strategies to avoid losses in leveraged trading! As Coin Engineer, we have been a team who envisioned to sharing our bitter and sweet experiences in the crypto field, where we started as a novice in 2017, to you since 2018. Just like in every area of cryptocurrencies, we also valued education in leveraged trading and prepared many contents that can help you for your financial freedom. We didn’t stop! We supported these contents with our Free Education Series on Leveraged Trading consisting of 11 Videos.

With the recent rise in Bitcoin, we have seen that many Turkish crypto traders have lost a lot especially in leveraged trades, and this situation has saddened us very much. We have prepared this article as a guide to help you prepare for Bitcoin’s next moves and minimize your losses.

18 Tips to Consider in Order to Avoid Loss in Leveraged Trading

Focus on LOW and HIGH points instead of making transactions from the middle.
Open trades according to technical and fundamental analysis, just one is not enough.
Do not open trades without fully understanding them, even if you do not know the simplest leverage terms. EDUCATION is very important.
Do not hesitate to use Stop-loss when necessary.
Plan ahead based on the Liquidation Price of your transaction.
Do not enter a position when you are not psychologically, physically, financially strong enough.
Don’t let the leverage ratio exceed x10.
Do not enter a position with more than 5% of all your money in life.
Don’t constantly open trades with the ambition to win, be patient. Wait for the right time.
Do not open trades just to open them, have a good reason.
Revenge Trade ❌ Risk Management ✅
Don’t put all your leveraged balance into a trade at once, split it into at least 3 parts in case you need to add if the position goes against.
Always keep the notifications of important Crypto News channels open while trading, you need to be able to close the trade in loss or profit depending on the news.
Do not trade with credit, debt, or money needed by your family, this pressure will lead you to make mistakes.
Do not enter a trade thinking “I can do it too” being affected and jealous by the money someone else has made, everyone’s story is different and things may not be as they seem.
Make a long-term plan instead of becoming rich immediately, if you enter unnecessary risks and lose all your money, you will watch the next opportunities as a spectator from the stands.
Do not trust in the trades of twitter phenomena with high followers without questioning, do not get carried away by their enthusiasm, make your own decisions if you make mistakes, it should be your own mistake, you will gain experience.
Don’t get caught up in FOMO (Fear of Missing Out)!

READ: What is Move to Earn?

For more detailed information about Binance Futures transactions, you can read our article titled “How to Use Binance futures?“.

How to Use Binance Futures?

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