Day 7: Leverage Artist unlocked!
I used to think Futures was about buying coins so I could get rich faster.
Turns out:
Spot = you actually buy the coins and they go into your wallet.
Futures = you don’t have the coins; you’re just guessing the price direction. You can go Long,.. or Short.
The most impactful lesson:
- Leverage is a speaker: it makes profits loud, and losses loud too
- Funding is not a Binance tax; it’s Long paying Short so the price doesn’t go out of whack
- Formula: 200 USDT x 5x = 1000 position size, when BTC drops 4% on Short = +40 USDT
I won’t just instantly all-in 50x without an SL. I still love my account 😂
#BinanceSummerCamp
I used to think Futures was about buying coins so I could get rich faster.
Turns out:
Spot = you actually buy the coins and they go into your wallet.
Futures = you don’t have the coins; you’re just guessing the price direction. You can go Long,.. or Short.
The most impactful lesson:
- Leverage is a speaker: it makes profits loud, and losses loud too
- Funding is not a Binance tax; it’s Long paying Short so the price doesn’t go out of whack
- Formula: 200 USDT x 5x = 1000 position size, when BTC drops 4% on Short = +40 USDT
I won’t just instantly all-in 50x without an SL. I still love my account 😂
#BinanceSummerCamp