Is it advisable as a starter to engage in future trade? - page 7.

Oshosondy

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Gamble responsibly

Quote from: Nyben on August 22, 2022, 08:53:13 PM

Is it advisable as a new trader to engage in future trade?

Learn about future trading fully before you should use the amount of money you can lose to trade it, trading generally is highly risky, but future trading is riskier because of the high leverage that you can use and because you can open a long or short position.

A newbie can decide to start to trade with 200x, or a leverage that is over 10x which are considered as high risk trading that can result to trading asset liquidation. I have been trading derivatives many months ago and I will advice you to do these if you want to start:

use the amount of money that is far below an amount you can afford to lose to train
always you the amount you can afford to lose to trade after learning
do not trade shit coins. Like me, I only open BTC/USDT long or short position
use low leverage, 3x or lower leverage is better
learn how to use indicator
do not be greedy

Many traders always set stop loss and take profit which often help them. Future trading is highly risky. Learn indicators like Bollinger Bands and RSI. I remember a time I always lose, it was because of the coin I was using that contributed more to the loss, a shit coin can turn a good trader to a poor trader.

adaseb

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The only difference between future and margin trading is the leverage. The more leverage the more riskier for you to lose your entire account. With margin trading your leverage is much less and spot trading is basically 1:1.

So all in all you can lose all your money in all 3 different methods but the futures one you can just lose it faster if you use more leverage. So if you don’t know what you are doing you shouldn’t use any of the trading methods and just trade demo for now.

mk4

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Paldo.io 🤖

Futures(with leverage) is pretty much trading with steroids. If you use leverage, your wins and losses are maximized depending on how much leverage you're using.

As a beginner, don't over complicate it — just start with spot trading(typical buys and sells) for now.

TravelMug

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Quote from: Nyben on August 22, 2022, 08:53:13 PM

When I login to my trading App (Exchange), I do see an option for future trade and when try to give it a try, I will see a notification reading "Future trade can be very risky".
Is it advisable as a new trader to engage in future trade?

As the warning says 'it's risky' if you don't have the experience, hence I will say that it is not advisable for newbies in trading. If you don't know how to leverage in the first place, then how can you put yourself in a speculative position in the first place? It will mean disaster for you in very short time. And others have said that you also needed the skills (risk mitigation etc.) that you can only acquire through years and years of experience in crypto trading.

bittraffic

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Quote from: Nyben on August 22, 2022, 08:53:13 PM

When I login to my trading App (Exchange), I do see an option for future trade and when try to give it a try, I will see a notification reading "Future trade can be very risky".
Is it advisable as a new trader to engage in future trade?

The notification said it right. Many had lost thier capital even before they make a few future trades without knowledge. Its liquidated without them knowing how it happen because they are new to trading. Its recommended to stay on spot market and gradually learn why the market goes up and down and then learn a few indicators that you could use. And then only try futures when you are confident enough and have lots of money that you wouldn't mind losing.

tranthidung

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Farewell o_e_l_e_o

Quote from: Nyben on August 22, 2022, 08:53:13 PM

I will see a notification reading "Future trade can be very risky".

It is more risky than margin/ leverage trading and much more risky than spot trading.

Quote

Is it advisable as a new trader to engage in future trade?

A new trader should not start with future trading, definitely.

The flow should be

Investment > Spot trading > Margin/ Leverage trading > Future Trading

If you can not have profit from investment, don't trade
If you can not have profit from spot trading, don't trade with margin/ leverage
If you can not have profit from margin/ leverage trading, don't trade future

Your capital should be 80% in investment, not in trading. Future trading should be 10% or 5% of your trading capital (not whole capital)

autumnleaf

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It is not advisable if you are just starting. Just what like they said better start first in spot trading and gain knowledge once you have enough idea how future trading works you can try little by little There are many options for you to engage with and become profitable like staking

gunhell16

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Quote from: Nyben on August 22, 2022, 08:53:13 PM

When I login to my trading App (Exchange), I do see an option for future trade and when try to give it a try, I will see a notification reading "Future trade can be very risky".
Is it advisable as a new trader to engage in future trade?

I just want to ask what exchange are you using dude? Because the only one I know of that has future trading is Binance. I'm just not aware of other exchanges that have future trading. Now, if you are just a beginner in the cryptocurrency industry and are just getting into crypto trading, it is better to start with spot trading rather than future trading. Don't rush yourself with such activities in future trading because you might just get confused at the beginning. Especially if you don't have enough knowledge about it or don't have an idea, it will really come out that what you are doing is too risky.

But if you know yourself that you have enough ideas and knowledge, you can try that even if you are new to this forum.

Silberman

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Quote from: Nyben on August 22, 2022, 08:53:13 PM

When I login to my trading App (Exchange), I do see an option for future trade and when try to give it a try, I will see a notification reading "Future trade can be very risky".
Is it advisable as a new trader to engage in future trade?

This is not something that I would advise to a new trader, while it is natural that people want to trade and earn money with their skill, futures trading is extremely difficult and the chances you will lose all your money is very high, so what to do? You need to start slow, if you want to trade then just spot trade for at least a year, and then once you have confirmed you have what it is necessary to become a good trader you could consider this question again, but even then I would think it would be too soon.

Nyben

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When I login to my trading App (Exchange), I do see an option for future trade and when try to give it a try, I will see a notification reading "Future trade can be very risky".
Is it advisable as a new trader to engage in future trade?

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