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Is trading futures really worth it?

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by COINS NEWS 103 Views

I haven't tried trading futures yet, but I'm very interested in doing so. For those who don't know, it basically just means agreeing to purchase a specific cryptocurrency at a specific price at a specific time in the future, regardless of the price at that time. All you have to do is guess how the price of a crypto asset will perform in the future. It may appear simple, but it is not. Some people avoid futures trading because it appears to be complicated. But with futures, you can trade, profit from market volatility, and take advantage of opportunities by going long or short. Like any other type of trading, futures contracts come with some risk. I'm still looking into ways to reduce risks and avoid a shit storm. Among them are:
•I should consider how I would enter and exit positions, such as entry and exit indicators, position sizing, and stop-loss placements.
•I am aware that one of the reasons why people shy away from trading futures is that you can get cocky and greedy, which will cause your assets to go down the drain. There are many ways to counteract these psychological tendencies, including lowering the amount of leverage used, reducing the number of trades executed in a given period, setting conservative goals and targets, and never trading with capital you cannot afford to lose.
•Never leverage more than 10 times. Learn the definitions of cross and isolated. Avoid going all in.
These are not all of them because I don’t want to make my post long plus, I still need to do a lot more research and I’m planning to practice on simulators like Bitsgap and CryptoParrot or if all else fails, I’m gonna end up using bots like Bitsgap’s bot or Peccala.

Advice would be greatly appreciated. lol.

submitted by /u/blank_measurement
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