One of the fastest way to completely detest crypto trading is starting out with the futures market. Most people start out using high leverage and high margin in a bid to make fast money. As it usually turns out 99% of the time, human nature, coupled with inefficient monitoring and poor strategies and will not let them quickly close a losing trade or take profit in a winning one. This inevitably leads to liquidation.
Having said all these about futures trading, it also has its advantages. one major one is ability to short the market. If you don’t know what that means, it is the ability to make money in the market when price is going down. For example BTC at the time of writing is about $44,000. That is a whooping 30% drop from the all time high of $ 65,000. If you had short the market you would have made money while the market was going down, effectively making phrases like “hodl it”, “BTFD” (Buy the fvck1ng Dip) and so on meaningless.
Another advantage trading futures market has is, you can use more than the money you have to trade therefore increasing your potential gains (or loss if things do not go your way). That is, you can leverage.
What we do at chartless.co is to help you, as much as possible, filter away all the potential threats in futures market and maximize the upside. With our automated trading bot, you can trade the futures market 24/7 with low leverage, long and short the market as needed and have effective monitoring and take required action in market promptly.
Check out how you can connect your binance futures account to chartless here.
PS: Crypto trading is risky and the above is not a financial advice. Always do your own research and trade with the money you can afford to lose.