Quote from: South Park on November 30, 2023, 09:40:49 PM

Quote from: redsun114 on November 29, 2023, 06:21:35 PM

That's why, futures trading isn't recommended for newbies who don't have enough knowledge and experience about the market or trading practices and risk management techniques and someone who has just started their journey should do it from the spot market because they won't have to be a victim of liquidations due to volatility of the cryptocurrencies they are trading. Leverage and margin trading are for experts who have vast knowledge about the industry and such trading practices.

A lot of people get into futures trading only because they think that they can earn a lot of money from it after seeing fabricated and edited screenshots from social media groups related to trading and cryptocurrencies but they don't understand the risks behind it because people who share such screenshots don't share that it's not easy to achieve that.

Newbies should be even more conservative than that, since their level of skill is so low they should start their journey from the very beginning and that means becoming long term holders at first, as this is the activity that entails the least risk on this market, eventually they could implement strategies like DCA and buying the dip, and only once they have mastered those skills then they can think about the spot markets, and if they did all of that and were successful then they could think about the possibility of trading futures.

In my opinion, it's best for OP or us, if possible, to stay away from futures trading altogether, don't even try it even if we are experienced people in the market. Because even if you are a holder or spot trader but have never participated in futures trading, you do not have any experience with it. The risks are still huge for anyone participating in futures trading, whether newbies or old in the market.

Futures trading is no different from gambling, it is no longer a form of investment like holding and spot trading, so it is best to limit participation in them. Honestly, I've never seen anyone get rich from futures trading, have you seen anyone?