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Highlights From Richard Teng’s AMA on Binance’s 7-Year Anniversary

THERE'S ALWAYS A HIGHER MOUNTAIN.

I find it quite interesting when some experienced traders or people who believe themselves experienced or knowledgeable smirk, ridicule or scoff at some of my posts. I wonder if they would have the same attitude before they lear ex the first thing about trading. By their immaturity, you will know them.

Most of my posts are for people who are now starting out or are still struggling their way through crypto trading or trading in general. I'm not claiming to know everything and still make mistakes and lose out sometimes. I'm only sharing what I have done in the hopes that someone out there will learn something from it.

THE MORE YOU KNOW THE LESS YOU REALIZE YOU ACTUALLY KNOW.

Every day comes it's own challenges.
Every trade comes with its own lessons.
Every coin and token has its own sets of trade tricks applicable to it.

No one can know it all.

I still prefer to trade coins and tokens under $1.
$1000SATS
$XRP
$GRT

All disclaimers Apply.
DYOR

MAKING 75% PROFIT.

Just consider this.
If you had $50,000 and you invested in two particular coins these past two weeks, you would have made less than the other.
one is $1000SATS
the other one is $BTC

We saw the first move from somewhere around 0.00017 to around 0.00032. If you bought the first at 0.00020 and sold at 0.00030, that'd be a nice profit.
BTC on the other hand started from around 58,000 and still didn't hit 68000 yet.

The math tells me one would have made more with SATS trading Spot than BTC. Assuming you bought BTC at 58000 and selling at 68000, that's 8620.7 profit approx investing 50,000. Against 25,000 profit buying 50,000 worth of SATs at 0.0002 and selling at 0.0003.

So what you trade, when and how also counts.

As always, DYOR.

ALL IS FAIR IN LOVE and WAR.

Just imagine two people. One has $50,000 and he sees a likelihood of bullish market in $1000SATS
so he puts all 50,000 into it @ 0.00017. Then he sells when the token gets to 0.00029. That's one trader who made much profit in just 3 days.

Then there's the second who has $50 and wishing to invest in crypto. He buys the same coin at the same rate as above and sells at the rate as above. As you can see, both made a profit but the quantum is different.

The first made a profit of $35,294.1176 in just 3 day. The second guy made a profit of $35.2941176. So imagine someone putting in 50 million dollars.

Maybe you may not have thought about it, but the one who invested $5 is competing with someone who put in $50 million.

WHAT YOU PUT IN IS WHAT YOU GET.

DYOR

NEWBIE & SMALL PORTFOLIO ADVISE.

Start trading with coins and Tokens that are below $1 .
It will help you minimise your loses as you experiment and learn.
LIKE $DOGE or $XRP or $ADA

DYOR.

NO ONE CAN TEACH YOU EVERYTHING.

No one can teach you how to succeed in any kind of trading. It doesn't matter whether their trade practice is ethical or not.

The best anyone can do for you is teach you what they do, how they do it the way they do and why.

BUT it's more than that with trading. There's luck and intuition in trading too.

I've Lost over $35000 "experimenting" with trade strategies over the past 5-6years. But I've also gained experience because of it.

REMEMBER THAT EVERYTHING COMES AT A COST. ITS YOUR JOB TO DETERMINE THE COST AND DECIDE IF YOU'RE WILLING TO PAY WHAT IT TAKES TO GET WHAT YOU WANT.

DYOR as usual

YOU CAN TRADE WITH AS LITTLE AS $5.

Research as much as you possibly can about PARTICULAR coins and token you want to trade.

Learn about the different kinds of trading.

Always have a strategy before you start trading and test run your strategy with as little as possible to understand if it will work or not.

let me share one of my strategies with $WLD
Depending on the price fluctuations of this coin, I buy or sell at $1 - $1.50 difference. Sometimes the resistance could break so can still buy at a small loss to still ride on the bull to make some additional profits. when do buy the bear, trade dual asset or coin-m perps while waiting for the bull. Usually between 0.6 - 16. You can also lend if the coin or token supports it. This way, your asset can still generate a little and not sit idle in hodl.

As usual, this is my personal opinions, This is not financial advise.
Do Your Own Research

I remember when $BTC fell to below USD 15,000, and the pessimistic newbies and emotional traders were all over town saying everything that came to mind. BTC has hit above USD 70,000 since then and could trade even higher.

These newbies are at it Again with $1000SATS

The only thing that's relevant in Trading is Profit and loss. If you know how, you can minimize losses regardless which position you are at. But many expert traders Sometimes are able to turn a profit regardless which position they trade.

Example is dual asset trading or cross trading.

This is not financial advice. it's just personal opinion.

You can trade with as low as 5 dollars.

All you need is knowledge and good research.

You also need a lot of patience. In fact you need more patience than a neurosurgeon.

Also try to limit yourself to not more 3 coins so you can focus.

I have done this. I started with 10 Dollars and bought $1000SATS
I set an alert for when it's low to a certain level or when it's up to a certain level.
when i sell high, i trade perpetual when it reaches resistance. Then wait until it reaches the lower level set. Then I buy low.

This is not financial advice, it represents my personal experience.
Do your own research.

Never let emotions determine your trade pattern.
Never panic even when making losses.
You can win even with 2 dollars if you know exactly what you're doing.
Do your research and stay updated with current news.
Learn both CEX and DEX

I'm not a financial advisor and this is not financial advise. It's my personal opinion.
watching and trading $NOT
$IO
$ZRO

Everyone says do your own research but no one tells you what to research.
Crypto trading involves risks so don't get into it if you are risk averse.
What it means to do your own research is not follow trends but rather understand what the various crypto assets do or can do in the real world and the speculations surrounding them. Have a good idea what's likely to happen to assets before they happen and how to capitalize on it.

This post is for educational purposes only.

Over the past three years, I've learned by watching expert traders and tutorials on YouTube. but most importantly, I've learned through experience trading perps in single digits.
if you are new to trading and trading with under 50 dollars, try not to chase after the wind with it. I've learned from experience to pick a few coins, research them and stick by it. I've able to turn 5 dollar to 50 dollars in about 8 months trading $myro. I also trade $WLD and $XRP . The key for small traders is patients.
this is not investment advice, DYOR.

Before you trade.

Check token or coin performance on 1 month setting. set your parameters a little below the lowest point and the highest point.
Example, if I'm going into $1000SATS , I'll set it between 0.0003 - 0.0013.

No matter how much you want to put into a trade, only use 35-40% of what you want to put in and use the rest as margin cushion.

As always, DYOR. This is not a certified investment or financial advice.

so I've been trying to find a very optimum and stable way of raising very little portfolios to big Sums.
it's not easy and trading spot is time consuming and slow.
but trading futures is one way of multiplying portfolio easily.

I started a test run with $5 in mid January and it's almost $100.

I'm trading $1000SATS but in doing so, I've learned a few tricks so once hit 100 dollars I'm going to split it in 2 and add $myro to my portfolio.

I'll keep you posted.

like always say, DYOR.

HOW I SET UP MY SPOT TRADE

After making lots of mistakes and losing lots of money, you learn quickly that you have to learn a lot and observe the crypto trade over a period to find a pattern.

Trust me, $10 doesn't seem like a lot, but when you multiply such losses by maybe 500 or 1000 times over a period, you will understand that it's actually a huge loss since over that same period, you could slowly raise it by spot trading.

What I realized was that, certain coins and tokens have the tendency to rise in sequence one after the other. What I've done is create a favorite list of these tokens in sequence. Once I exit one trade, i enter the next and wait for it to bull then exit at the peak.

It sounds simple but it needs some observation and practice.

As usual DYOR.

TIP 4

As a beginner crypto trader, I made the sad mistake of trading coins and token based on size and popularity. meanwhile my portfolio then was tiny.

As a trader with limited assets, NEVER trade a coin or token who's value is more than twice the value of your asset.

If you have $10 dollars, stick to coins with value below $20 dollars.

Also stick to trading spot until you raise your asset value substantially.

PS: This is not financial or investment advice. DYOR

UNDER 10 dollars SPOT TRADING EXAMPLE.

So let's say you have $10 only and you wish to trade crypto. it's safe to buy an asset like $DOGE . It has some very good bull and bear.

Personally, I like coins which are very close to the 10 dollars with meaningful movement. Like $ICP where you can actually see the upwards and downwards change in cents. Buy low, Sell high on spot.

As Always, this is no financial advice. I'm just sharing personal experience and insight.
Do Your Own Research.

THEY SAY ALL SORTS OF THINGS BUT NEVER GIVE ANY HINT OR CLUES.

Whether an experienced trader points you to the best tokens and coins or not, you're bound to make terrible mistakes if you don't do your own research.

It is very important TO EXPERIENCE and GROW in the process. Especially for those trading with very little liquidity. By very little, I mean those who have less than $100 .

it's not worth it to buy and hold already established high value coins and tokens. those are for the already wealthy.

For those trading with under 50 dollars, look into relatively stable assets with one or two zeroes after the decimal points like $DOGE , $HBAR, $VET , and $1000SATS and trade them either spot or perps. I suggest you do spot trading if you are not experienced in perps trading.

TIP number 3

DYOR (Do Your Own Research). Don't follow speculations just because it's from an experienced trader. Do your research first and if it aligns with speculations, pay attention. Take all necessary precautions at all times. Trading is risky business.

TIP number 2

For traders with very small portfolios ($50 or less), the only way to make money meaningfully is to trade futures. Those who wish to trade spot with such portfolio have to have time to constantly monitor the trade since with such trade, it's difficult to use a bot. some tokens are low enough to slow spot not trading, as long as your research is solid, you'll make it through. it depends on your patience and determination