Topic: Binance questions: - page 2. (Read 389 times)
In trading we should be first learn about technical analysis to know the level of support and resistance, but its not enough only learn about it, others more important thing is to learn about risk management, how to cut the loss immediately from wrong trade, so we should be use stop loss for each trade.
Also make sure when you're storing backups and private keys to make multiple copies and store them in different places in case things go wrong. Not exactly the best situation when you're trying to recover an account or 2FA backup key and you find the backup's unreadable due to damage or you've simply forgot where you hid it.
As for Google Authenticator, the app's easy to use but it doesn't seem like you can easily backup the codes as Google doesn't let you generate a recovery code easily because they think there's a security risk if a recovery code is shown or something like that. Did some Googling and it seems according to this thread on Stackforums (link here) it's possible to generate recovery codes for GA (albeit with a bit of work as OmegaStarScream mentioned), but you should definitely be using another 2FA application that allows you to generate backup keys more easily. There's also no easy way to migrate from Google Auth to Authy or any other 2FA device either, so if you currently use Google Auth you will need to manually add on the 2FA codes you had earlier to Authy.
As for Google Authenticator, the app's easy to use but it doesn't seem like you can easily backup the codes as Google doesn't let you generate a recovery code easily because they think there's a security risk if a recovery code is shown or something like that. Did some Googling and it seems according to this thread on Stackforums (link here) it's possible to generate recovery codes for GA (albeit with a bit of work as OmegaStarScream mentioned), but you should definitely be using another 2FA application that allows you to generate backup keys more easily. There's also no easy way to migrate from Google Auth to Authy or any other 2FA device either, so if you currently use Google Auth you will need to manually add on the 2FA codes you had earlier to Authy.
Authy allows you to take backups of your keys while Google authenticator doesn't I believe (at least, not easily).
When you're setting up the Google Authenticator, a backup key is provided to you at that time. If that key is stored/backed up safely, that's the best backup you could get. Is this the backup you're referring to?
What are some precautions we can take to keep our account safe in case of security loss?
Account safety means storing all your account's important credentials in a "safe" place by any means. Be it on email, notepads, flash drive etc. You are the only who can access it and no one else unless you trust someone. The safety of our account at any exchanges or platform depends on how you handle it.
About the sudden security breach on the exchange itself, then you have no choice but to accept the scenario. In this case, you just have to hope for the best that the exchange will come back and your funds are safe. That's how risky using any exchanges even the reputable ones. That's why to minimize the risks, just only do your trading activity at those reputable ones. It's not that you can't try other exchanges but until you don't understand anything refrain from using new exchanges.
What are some precautions we can take to keep our account safe in case of security loss?
I am thinking to make print outs of trade history occasionally and save that. In case of password loss.
I am thinking to make print outs of trade history occasionally and save that. In case of password loss.
You should be able to recover your account using email and 2FA (The recovery key). So make sure to have full control over these. Authy allows you to take backups of your keys while Google authenticator doesn't I believe (at least, not easily).
If you're trying to protect yourself from hackers though, then my advice would be to not store your funds in exchanges as you never know what happens. If you don't control the private keys, you don't control the funds. Deposit, do the trade and withdraw.
Thanks Omega.
another question about Binance
What are some precautions we can take to keep our account safe in case of security loss?
I am thinking to make print outs of trade history occasionally and save that. In case of password loss.
another question about Binance
What are some precautions we can take to keep our account safe in case of security loss?
I am thinking to make print outs of trade history occasionally and save that. In case of password loss.
You could right click using the mouse on the chart, and choose Reset chart or just ALT+R from the keyboard as shown:
How do you reset the charts? I have been playing with all the switches and everything but now I need to reset it all. To defaults. It's all messed up now. 
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