First Future Trading On Binance

February 5, 2021

Bravery or Stupidity?

After reading this article, feel free to laugh and judge me. If you are new future trading want some guide on how to setup it, you can read the article written by Ate Jane: My first live future trading on Binance

Before I started future trading, I already watched some videos from YouTube, tutorials on how to setup it. The indicators that we can use so we can read and understand the chart but despite of those knowledge, I'm still not confident and I can feel that my knowledge is still not enough because I'm afraid that my prediction is not right. As a curious person, I want to know the feeling of doing future trading because I also tried some demo on Snapex and Stormgain but I think the Real future trading is much better because in demo, it's just like "It's okay if I will lose $100, this is only demo account" but on real account, every cents count. Since I'm only a newbie, I only transferred $5 on my wallet (in futures) wait...before I transferred it, I said to myself "I am ready if this will be liquidate" because as what they have said, "Invest what you can afford to lose" and you must ready if your money will disappear in just one snap. 

So...I choose the buy/long position in BLZ because the graph looks like that it will pump that time. 

As you can see on the photo, it is already 3:42 am that time because I woke up at 2:30 am and I can't sleep so I want to explore things. 

There we go! The position was set! I even forgot to set the TP and SL. Lol. Don't worry, I set my SL where my possible loss is -$1.46 and TP is $2+. You know what's the feel whne I pressed the buy/long button? My hands are shaking and trembling. I also feel my heartbeats and my hands are sweating (This is serious, because that's what I feel on future trading) 

I just stared on the graph...being stressed when the Unrealized PNL is turning red and became negative. 

7:13 am, my Unrealized PNL became -$1.02 and my SL is -$1.46 so I told myself that uh oh I will lose it, but some part of me said "Don't close it, it will pump" so I didn't close it but I already accept my fate, I know that anytime it will reach the SL and my money will be liquidate. 

I am frustrated that time so I left my trade and read some articles on readcash, scroll on some social media, make some noise in noisecash and I even washed my clothes. 

8:03 am, it is quite pumping so the Unrealized PNL also decreased. I said "Oh please pump!" Our class started that time so I need to focus on my studies but what I did is I put my phone in phone stand and look on the chart while answering my modules and schoolworks. 

Now, do you think I got a profit?

Uh oh it's a NO! 10:24 am, my trade reached the SL and lost $1.46. There's still have $3+ on my futures wallet but I decided to transfer it again to spot wallet because I'm afraid that I will lose it again. Every cents count. Loss is loss and gain is gain. Of course I am disappointed and frustrated to myself because to be honest, I don't have any idea on a coin that I bought. Now you might be thinking, "How did you discover it? Why did you trade using that coin?" 

There's a lot of coin, but why BLZ?

Well, I joined in one channel in Telegram maybe 3 weeks ago. They are giving a signal where to buy or where to sell, what coin that will be bullish. They sent a signal that BLZ will be bullish.

That is 3:22am. Well, I think my emotion controlled me and thinking that I will get a profit on my first trade so I tried it. Don't get me wrong, I'm not saying anything against the channel on Telegram that sent a signal, because most of their signal are correct, it is bullish but I don't know what happened on BLZ, maybe it wants me to learn a lesson, lol. I want to include the link of that channel but I can't find the link. If I'm not mistaken they are exclusive group and not accepting new users. 

LESSONS and ADVICE

Do Your Own Research (DYOR)

Even you got a signal from experts, always do your own research about the coin that you want to buy because once you clicked it, there's no turning back. Personally, I even bought BLZ in my spot and I am nervous that it will dump a big dump. Now, I am just waiting for it to pump. I hope that it will be because I can't afford to loss my ≈$26 on my spot wallet. 

Make a plan

Always make a plan before opening a trade because planning is powerful and very important on everything. Again, personally I don't have a plan when I opened my trade, when I got the signal, I immediately open the trade and voila! LIQUIDATED. Well, I took it as positive, I paid $1.46 for a tutor so I will learn something.

Invest what you can afford to lose

Just like what I did, I said to myself that it's okay if I will lose it. Actually it's not okay, what I mean is I am ready on what is the possible outcome of my decision. 

Don't let your emotion control you

Don't follow my trading journey because this time, I let my emotion control me. Trust me, you'll regret it once your emotion control you. Once I received the signal, I became excited because of the description bullish I bought without research and plan.

Personally, I don't know where I will start futures again, maybe when I reached the $10 mining on Stormgain. I will focus on spot and hodl for now because I have a lot of goals that I want to achieve and I can't achieve it if I will step on the fifth stage even I didn't finish the step 3, did you get my point? Don't rush things, there's a lot of things that I need to learn before doing future trading. They said "One step at a time". 

After reading this, feel free to judge me. Regarding to my experience, is it Bravery or Stupidity? Let me know on the comment section! If you don't want your friends to experience what I experienced, share this to them and remind them the lessons and advices that I gave so they will know what they need to do.

NOTE:
Join in Publish0x and Readcash if you want to earn cryptocurrency by just reading and writing an article. I am using Presearch to earn free PRE.
Earn free cryptocurrency with:
•Pipeflare
•GlobalHive
•faucetcrypto
•free-litecoin
Some articles that worth to read:
•Club1BCH-The Genesis
•Earn free BAT by clicking ads
•Don't read this
#Club1BCH
We💚BCH