I took my first option trade today 😇. I bought a call option at a strike price of $475. My break-even price was $483, and the settlement price was $488 😊. I’m currently bullish on $BNB , and the call option was a great reward for my sentiment.
The major advantage of option trading is the limited loss. If things go south, my loss is limited to the premium amount paid. This can be especially useful for new traders like myself who are always tempted to move their stop loss and expecting that the price will retrace in their favor, thus leading to devastating losses.
With options trading, if you’re right, you make money, and the amount you can make is not capped if prices move well in your favor. However, your losses are capped. This is the exact definition of a good risk-to-reward trading opportunity.
A quick question is how you can get started. Binance has made it extremely easy. Just head to the options section, and you'll find incredible and easy materials to start your journey fast.
$COTI is now trading at $0.216, having broken out of a bullish triangle pattern on the hourly timeframe. Expect short-term bullish momentum.
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"Disclaimer:
This post is for educational purposes only and I am not your financial adviser. It is not financial advice. Please always conduct your own research and analysis before investing in any cryptocurrency or relying on the information provided. The content is based on data available as of [current date], and market conditions may change rapidly. Invest wisely and consider your risk tolerance before making any investment decisions."
Be knowledgeable in this four areas and you'll outperform the average trader
👉 Technical Analysis - With technical analysis, you can unlock valuable insights into potential ENTRY and EXIT points for your trades. Learn how to read charts, so as to be able to predict the next moves.
👉 Risk Management - Don't get caught up with a single trade, spread your wings and diversify your portfolio. Just like professional traders who juggle 20-50 trades at once, diversification helps you weather market storms. When one sector dips, another might be soaring, keeping your portfolio balanced and resilient.
👉 Position Sizing - Imagine having $1,000 to invest. You could go all-in on one trade, or you could be strategic like a seasoned pro. By dividing your investment into smaller positions, say $20 each for 50 trades, you spread the risk and maximize your potential gains. Feeling confident? Experienced traders might even consider adding 2x leverage to each trade (but remember, always be responsible and within your risk tolerance!).
👉 Emotional Control - Emotional control is the unspoken secret weapon of successful traders. No textbook can teach you this, it comes with experience and self-awareness. You'll learn from those inevitable silly mistakes, just like I did when I spent four years battling greed and fear. Remember, patience and discipline are key to mastering your emotions and making rational trading decisions.
BONUS 👉 when Coinbase app will become the most downloaded app on appstore, know it's time exit the markets. Right now it's not even among the top 100 most downloaded apps
BNB Crosses 390 USDT Benchmark with a +2.12 Increase in the Last 24 Hours
According to Binance market data, on 26 February at 20:23 (UTC+0), BNB has crossed the 390 USDT benchmark with a +2.12% increase in the last 24 hours and is currently traded at 390.09 USDT.
#Write2Earn #BTC $BTC Hello friends, another Halving is upon us. If history is an indicator, then we expect some major bullish rally from BTC. A $100k BTC doesn’t look so impossible right now.