Responsible trading is about exercising control over your trades and taking accountability for your actions. Trading responsibly also means acknowledging when you may not be suited for trading. Responsible traders do not go beyond their means. In other words, you should never risk funds you cannot afford to lose. At Binance, we have established several features and guidelines to help users trade responsibly and make informed trading decisions. Here are some tips and good practices that will help you be a more responsible trader:
In trading, self-discipline means telling yourself to avoid unhealthy excesses like compulsive trading or gambling. Binance encourages users to practice self-discipline, especially when they feel pressured by losses or a losing streak. Our system-generated notifications constantly remind users of the dangers of compulsive trading and the risks involved when trading more complicated products like derivatives.
Continuously Educating Yourself
Explore the cryptocurrency markets with a variety of resources - including courses, webinars, and videos - designed to help you at each stage of your trading journey.Binance has continuously worked towards educating its users on every aspect of crypto trading, from the underlying technology of cryptocurrencies to the complexities of derivatives trading. Our educational content is freely available on Binance Academy, Binance Research, and numerous product guides.
Protecting Your Capital
Risk management is crucial to every trader’s success. It helps you avoid outsized losses and protects your trading capital. On the Binance trading interface, we have established risk management features such as stop-loss orders to help users manage the risk in individual trades. Users also have access to advanced risk control features such as price protection, which protects users from potential market manipulation. Other safety features such as liquidation mechanisms and insurance funds protect users from adverse losses.