How To Do Futures Trading On Binance App (The Complete Guide For Beginners)

Tutorial: How to Do Futures Trading on Binance App

Step 1: Introduction to Futures Trading on Binance

1. Understand the potential to make or lose money in futures trading.
2. Know that futures trading is for experienced traders.
3. Deposit USDT into your futures wallet on Binance.

Step 2: Depositing USDT into Your Futures Wallet

1. Go to your spot wallet and ensure you have USDT.
2. Transfer USDT from your spot wallet to your futures wallet.
3. Tap on the cross margin and select your USDT balance for transfer.
4. Enter the amount you want to transfer to your futures wallet.

Step 3: Exploring the Futures Trading Page

1. Familiarize yourself with the layout and features of the futures trading page on Binance.
2. View all available futures contracts that you can trade.
3. Understand the differences between perpetual and quarterly contracts.

Step 4: Using the Chart and Analysis Tools

1. Tap on the candlestick icon to view the price chart and indicators.
2. Utilize the calculator icon to calculate profit and loss, target prices, and liquidation prices for your trades.
3. Learn how to use leverage effectively in your trades.

Step 5: Understanding Isolated Margin and Cross Margin

1. Differentiate between isolated margin and cross margin trading.
2. Know the implications of liquidation in each type of margin trading.

Step 6: Placing Trades on the Futures Trading Page

1. Decide whether to go long or short on a trade.
2. Set your entry price, leverage, and trade amount.
3. Monitor your open position and adjust settings like take profit and stop loss.

Step 7: Setting Take Profit and Stop Loss

1. Set your desired take profit price to secure profits.
2. Establish a stop loss to limit potential losses.
3. Monitor your liquidation price to manage risk effectively.

Step 8: Enhancing Your Trading Skills

1. Consider taking a crypto trading course for in-depth knowledge.
2. Learn technical and fundamental analysis to improve your trading strategies.
3. Practice risk management and stay informed about market trends.

By following these steps, you can start futures trading on the Binance app with a better understanding of the key features and strategies involved. Remember to trade responsibly and continuously educate yourself to become a successful futures trader.