How to Day Trade Cryptocurrencies on Binance: Step-by-Step Guide

[00:01] show you a step-by-step guide on how to day trade cryptocurrencies on Binance. Day trading is based on the fundamental premise of opening

[00:13] and closing a trade on the same day. It's a strategy where you will complete your trade regardless of the day's outcome. This strategy is widely used by many traders because it allows you to generate

[00:29] daily profits. But I need to emphasize here that this is a risky operation , so you can also suffer losses due to the high volatility and unpredictability of the crypto market. But I'm going to show you here a step-by-step process

[00:45] , a strategy, including how you can do risk management, what trading tools and resources you should use, how you're going to open your trade and also close that trade, making it somewhat

[00:59] automatic as well. And of course, I'll show you some trading strategies that you can follow. Come along, the video is really cool, and leave a like if you enjoyed this content. So let's get to what you need to

[01:13] do before you start and select a broker. In this case, you can select Binance; there will be a link in the description for you to register. You will get a discount on the fees. B is also supporting this content here.

[01:27] Clicking the link in the description will ask you for some very basic information. password; you will go through an account creation process. Once this account is created, you will also go through the identity verification process. The famous Kyc. It

[01:44] usually asks them to send a photo of your opening an account with a financial brokerage. And it's a very simple process that will take a few minutes. Then you need to make a

[01:57] deposit. The cool thing about Bness is that you can make a deposit via Pix. It's the easiest deposit you can make and there are no costs involved. You can click on "deposit" where I'm hovering my mouse here. Hey guys, the

[02:10] showing it through the browser. You can use the computer, but there's also a Barnice app. You can search for it in your phone's app store and download the app. It will also be very easy for you to use. So,

[02:24] select "deposit" here. I'm going to click on deposit BRL, which is basically the Brazilian Real. OK? Here are the possibilities. I can do it through PicPay, but I prefer to do it through Pix. I select Pix, click continue, and enter the amount. And the

[02:38] cool thing here is that the minimum value is only R$ 10 . So you can start here with R$10. I'm going to put at least R$50 in this deposit here. I click on continue. Then it will generate your Pix code. Just make the transfer here for the

[02:51] amount you selected. And one important point: use a bank account with the same CPF (Brazilian tax identification number) that you entered in your registration. OK? Once you've made this deposit, you 'll go to your account, then to assets, and you'll find the BRL

[03:05] you can use for transactions. Or you can also exchange it for USDT, which is a stablecoin that will have several trading pairs, but we'll get to that later . So, making the first deals here is very simple. I'm going to go into

[03:18] trading here and select spot, which is the spot market. By selecting the spot option, I'll have a huge range of cryptocurrencies that I can trade, because Binance has many cryptocurrencies, okay? In this

[03:32] search field here, you can select your preferred cryptocurrency. I'm going to select Bitcoin here, and you'll see that it will have BTC, which is the abbreviation for Bitcoin, followed by another crypto, SDT, which is a stablecoin, or

[03:47] even BRL, which is the currency I deposited here with the Brazilian Real. What's the difference, Matthew? In this case, BRL and USDT are simply the currencies you'll be using to exchange for Bitcoin, to buy Bitcoin, or to buy any

[04:01] other cryptocurrency listed here. So, by opening Bitcoin here, what do I get? I have the chart, as you can see here, and I'm going to use this chart to do the analysis, okay? To understand and interpret this

[04:14] graph. I'm going to show you some indicators, some important points. We have the timeline here, okay? In this case, it's already selected for one day, meaning each candle here shows the closing price of one day. But since

[04:27] I'll be day trading, I can select a 1-hour chart, for example, or even a 15- minute chart. Here in this part of the chart, I can click on "trade in view" to the side, and it will give me some tools

[04:42] for chart analysis, such as indicators. To do this, I can click on this little technical indicator symbol and search for some indicators that will show chart trends, that is, whether the market is

[04:56] trending downwards or upwards. One indicator that I really like is the Stochastic RSI. I can select it here. And this indicator is very simple. We have a channel here, as you can see, and a line. And this line

[05:10] here runs through this channel. And when this line is above this range here, it represents that we are at the peak moment, that is, where the market, this asset here, is expensive and the next

[05:23] this is a trend, it doesn't necessarily mean it will happen. For example, when the line is below this channel here, we have a bottom indicator showing that the asset, in this time frame, is

[05:38] the asset, in this time frame, is cheap and the trend is upward. In other words, if this line is currently at this point, and I'm always going to look at the end of the line, as it 's currently below the channel, indicating a bottom,

[05:50] then I enter a buy operation. Another interesting indicator is the Bollinger Bands. I can search for and select that indicator here. And the Bollinger band is also very simple. There will be two graphs here, which

[06:03] in this case appear in blue, two lines, okay? One above and one below, and a medial line that appears in orange. In the case of these Bollinger Bands here, the graph tends to move between these two blue lines. And

[06:19] when we have the last candles here close to the blue line, or breaking down this blue line, it indicates that the asset is also at a bottom, which would be a buying opportunity. The same thing happens when

[06:33] the candles are above this line, as was the case here, it's a good example, it touched this line, indicating the peak point where I should sell the crypto asset, according to this indicator. And that's exactly what happened. We

[06:46] experienced a drop in this timeframe, okay? Here are two quick indicators for long either. Perhaps in the future I can make a video just about indicators here for you, but it's very interesting; you can and should

[06:59] use them here to help with decision-making, which is very important. And you can also analyze it through chart patterns, okay? Identifying peaks and troughs will also help you . I suggest you deepen your

[07:15] knowledge in this area so that you can perform the operation more safely. Basically, you need to identify the chart patterns and use the indicators, okay? Like these two that I showed you here, but there are other

[07:29] indicators that you can research and use, which will help you research and use, which will help you have a more precise trade. Having done that, and having made your trading choice, and identified, for example, the possible

[07:41] time to buy or even sell the crypto asset, we will arrive here at the order management section, where we will automate the operations. We have limit orders, market orders, and stop- limit orders, which are the most interesting. The

[07:58] limit order is very simple. I'm simply going to select the price here at which I want to buy a particular cryptocurrency. So, for example, Bitcoin. I can place an order to buy Bitcoin at

[08:11] 85,000. I'll put them in this order here. Once the price reaches this value, the order will be executed here, okay? And then I must select the value; in this case, I can put $10 here to perform this operation. In the market order, notice

[08:25] that next to this text we have the order books. These are orders that other buyers and sellers have placed here. When I select a market order, I will take the best price available in that order book. It's an order that

[08:39] will execute instantly, but you 'll also pay a little extra in fees, and you won't always get the price you want. It's not like a limit where you select the exact price you want to make the purchase. And I'm going to select

[08:53] the OCO order here. This order is the most interesting because it is the most complete and is usually used for day trading. Because here I'm going to set my profit target, how much I want to profit from this crypto asset,

[09:06] and also my selling target, whether it's a stop loss, that is, when I stop losing money, selling at a loss or selling at a profit. This is a day trading operation; it will execute this. So, for example, I

[09:20] this. So, for example, I bought the XRP here at 247. I'm going to set a small margin, I'll set a margin of 2% here and sell XRP at 251. Normally, this is also a strategy that I'll talk about in a moment,

[09:35] but it's used in day trading with strategies that offer smaller profits, okay? So here, the TP limit is the value at which I want to sell. I bought it, if I may recall, for 2.47. I'm going to put here that I want to sell at

[09:48] 252 with that small profit, a little above 2%, for example. Now, activating the stop loss. What I want to do here, when this crypto asset starts to

[10:00] fall, I want to put an end to it, I want to set a price for safety. So, I'm going to put, for example, a range of 5 to 6%, okay? And it depends on , okay? There's a little ruler where I'm

[10:14] hovering my mouse. You click here, you come to the line that is the current price line or the price line where you executed the order, okay? You'll click and it will pull down. So I'm going to select up to 5% here, which will give me a price of

[10:27] $33, okay? So I can come here to activate the stop loss and place a $233 order. activate the stop loss and place a $233 order. That is, if XRP reaches $2.52, I will make a sale, a sale at a profit. If it falls to 233, I will also

[10:44] make a sale at a loss, but it's a safety sale so that I don't lose too much capital here. And tomorrow I'll perform another operation here, okay? In the market order below, which is as follows, if this activation price is hit, I'll leave

[10:58] the market order as is because it's the most advantageous option. He will execute thing I explained to you about market orders. So, it hit $2.52, and he sold at a profit. It reached $239, it will sell on a market order to

[11:13] execute at that exact moment. So there's no time for the asset to fall further, for example. And I'm going to execute that market order at 2.39. And then I'll put the quantity as well. For example, I had bought $10 there, I'll

[11:26] put that $10 to also make this sale. I click on sell and that's it, I've just opens two operations. And that's exactly it, that's the hollow order. A take

[11:38] profit operation to execute if the price reaches a profit value, or a stop loss operation if the cryptocurrency price falls. So, I 'm safe here and can leave things calmly, working within a safety margin, okay? Using a

[11:53] percentage as a metric here. That's a very interesting premise; it's almost a rule of day trading. We have some strategies, okay? I'll even leave these articles here from Binance Square, which is a portal, a forum of

[12:07] focused solely on cryptocurrencies. It's worth participating; there's some really interesting content here for you to learn more. So you have some strategies, such as perhaps the most famous strategy, which is

[12:20] scalping, where the goal of traders is to try to make profits from trades in a short period, small profits in short periods, which is basically what I showed you, okay? aiming for a smaller profit, but managing to repeat

[12:33] this more times during the day, during the trading period. Another very valid strategy is trend trading, where you identify market trend lines and directions to profit from them by analyzing

[12:47] chart patterns. In this case, the advantage of this process is that it has less volatility and a bit more security in the operation. And there's also reversal trading, which is basically exploiting trend reversals, identifying

[13:01] points where the market might change direction. The biggest benefit here is that you can achieve more exponential profits, seize bigger opportunities, but it will also require technical knowledge, a greater understanding of chart analysis

[13:15] . Another extremely important thing in day trading, guys, is risk management. So, you have to define, for example, loss limits, the stop loss, you can already use the order to execute this. This will give you some

[13:30] security, okay? You'll have a floor there so you don't go beyond that point. This needs to happen in your operation. This is part of, and fundamental to, risk management. Another thing, manage your capital, diversify, both in the

[13:44] operation and in what you will do with your capital. You're not going to get all your money, man, I'm going to start day trading on the bar here. You shouldn't take all the money you've invested and use it for trading,

[13:56] especially if you're a beginner. If you're just starting out, start with a small amount to reduce the risk of the operation, because there's a possibility of loss here as well. And you can also diversify your operations across

[14:09] different assets. Another strategy used by top traders in the market is the trading journal, where you keep a record of your trades, including entries, exits, profit, and loss, directly on Binance. By going here to

[14:23] transaction history, you have the history, okay? This will give you important information about your operations, and then you'll be able to identify which strategies are working best or which ones aren't working at all.

[14:37] Another important thing regarding security is the security of your Binance account. How are you supposed to do this from here? Since you're operating here daily? You're going to log into your account here, okay? Where I'm hovering the mouse,

[14:50] for example, and you go to the control panel. We're going to activate two-factor authentication here, for example, which will give you greater security. In the control panel, you click here on account and you will arrive at

[15:04] To enable two- factor authentication. Here, for example, you will enable your email address (which is usually already enabled), and you will also enter your phone number. So, for example, to make a withdrawal here on Binance, you'll

[15:17] need the code, not only in your email, but also on your phone , in addition to your own password. Anyway, you can also use Google Authenticator, which is very useful in this case, and, obviously, the security of

[15:31] your device and where you use it is also important, okay? without clicking on emails or spam. Be careful with emails, information, and suspicious websites. In the case of BIN, always verify the authenticity of communications. Regarding the

[15:45] description here to make it easier for you. Also, there's Binance Academy, which, when you come here to Square, offers this Academy section where you can learn and take courses about the

[16:00] interesting and there's potential for profit as well, okay? It 's really cool that you're completing the tasks here. Here you can also learn about day trading and technical analysis. Also, in the bottom right corner here you have the

[16:13] support, okay? 24-hour support for you to ask any questions or resolve any problems you may have. So guys, click the link in the description here, create your Binance account so you can start

[16:26] trading. Study the trading market very thoroughly . You have the opportunity to trade with one of the largest and safest brokers in the world. Binance is a platform, one of the oldest and most trusted on the market, and it offers a

[16:40] . I suggest you also visit Binance Academy to learn more about the day trading market and the world of cryptocurrencies. That was

[16:52] enjoyed it. Leave your comment or question here. I'll stay here for a while.