At the request of Feed-Creator-5b40f3213dba43d38671
Preparation for the deal
Before opening a deal, make sure you understand what you are doing. Go over the basics:
📌Long — you earn if the price rises.
📌Short — you earn if the price falls.
Go to the exchange interface, choose futures or margin trading.
Set up the working area
1. Open the chart of the desired coin.
For example, choose the BTC/USDT pair.
On Binance, you will find the chart in the 'Futures' or 'Trading' section.
2. Connect indicators:
EMA (moving averages) for trend.
RSI to determine overbought or oversold conditions.
3. Determine key support and resistance levels. This will help understand where the price may reverse.
3. Determine the entry point
1. If you want to open long:
📌Wait for the price to test support and start rising.
2. For short:
📌Wait for the price to approach resistance and start to decline.
4. Choose the leverage
📌Do not use high leverage. The higher the leverage, the greater the risk.
5. Opening a deal
1. Go to the trading interface.
2. Choose the type of order:
📌Market order — buying or selling at the current price. Suitable for quick entry.
📌Limit order — you set the price at which you want to enter. This is safer.
6. Set a stop-loss and take-profit
1. Stop-loss:
📌Set a level where you will exit the deal to minimize losses.
📌 For example, if you enter long at 98,473.48, set your stop-loss at 97,500 (minus ~1%). (BTC price is relevant at the time of writing)
2. Take-profit:
📌Specify the price where you will automatically close the deal with profit.
📌For example, if you enter long at 98,473.48, take-profit can be set at 99,500 (plus ~1%).
7. Check the deal volume
📌❗️Never use your entire deposit. Ideally — up to 2–5% of the total balance.
8. Monitoring the deal
1. After opening the deal, monitor the price, but do not interfere unless necessary.
2. Use notifications to know when the price reaches your targets.
9. Closing the deal manually (if needed)
❗️1. If the market changes, and you see that the price is moving against you, close the deal without waiting for the stop-loss.
❗️2. If the profit is greater than expected, you can secure it before the take-profit.
I will give an example for clarity
📌You decided to enter long on BTC:
❗️Entry: 98,473.48 USDT.
❗️Stop-loss: 97,500 USDT (minus ~1%).
❗️Take-profit: 99,500 USDT (plus ~1%).
❗️❗️❗️Set everything, checked, and opened the deal.
This approach will help minimize risks and work more consciously.
