step-by-step trading with binance · or usdt is a cryptocurrency issued on the bitcoin blockchain....
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Step-by-step
Trading with Binance
B E G I N N E R S T E L E G R A M G R O U P
Table of Contents
How to Set-Up 2 Factor Authentication
The Binance Exchange
Login procedures
Depositing Bitcoin
Downloading the Binance App
What is Paper Trading
Binance BNB Tokens
How to Receive Telegram Signals
First Trading Steps
Binance Back-office
Market Orders
Setting a Stop-Limit order for an Exit
The Importance of Stop-Limit Orders
Trading Steps Continued – Buy / Entry Signal
Setting your Stop-Loss for Buy / Entry Signal
Cancelling a Stop-Loss
Moving a Stop-Loss / Taking Profit
3 - 4
5
5 - 6
6
7
8
9
10
11
12
13
14
15
16
17
18
18
Topic Page
• Go to Google Play or Apple iStore
• Install Google Authenticator on your device
• Open App and choose begin set-up – set phone down
• Open browser on your tablet, laptop or desktop
• Open a Google Account – or use existing account
• Click on Sign-In & Security
• Scroll down to 2 Step Verification
• Click Get Started
• Enter Gmail password
• Enter Mobile phone number
• Select received SMS or phone call to receive verification code
• Enter verification code and Click Next
• Click Turn On
• Next Page scroll down to Google Authenticator click SET UP
• Choose the type of phone you have and click NEXT
How to Set-Up Your 2 Factor Authentication
2 Factor apps generate security codes that change every 20 to 30 seconds.
These are the two most popular 2 Factor Authenticators:
Below are the steps to set-up the Google Authenticator. Gmail is required for
set-up, so create a new Gmail account if you do not currently have one.
1. Google Authenticator
2. 2. Authy
How to Set-Up Your 2 Factor Authentication
• Go back to your mobile phone
• select Scan barcode
• Using your mobile phone, scan the computer screen QR code
• Once completed, your phone will display a 6 digit code that
changes every 20 seconds with your Gmail account attached
• Back to your computer and click NEXT
• Enter current code on your phone – do not add blank spaces
• Click VERIFY
• Click DONE
The Binance Exchange
Trading within the Binance Exchange
Binance is the one of the largest cryptocurrency exchanges in the world with a 24hr
volume over $215 million USD. It is a simple, easy to use platform with both basic
and advanced exchange options available.
Binance exchange is capable of processing approximately 1.4 million orders each
second, making it one of the fastest exchanges available on the market.
Binance also has easy to use apps for both Android and Apple phones and IOS
devices. The exchange also features low trading Fees and an ability to lower fees
even further using their BNB token. Binance has a wide variety of coins and tokens
on their exchange, many with high liquidity making it easier to get in and out of your
trades.
Secure Binance Login Procedures
Open a new tab on your laptop or tablet
or download the Binance app for smartphone
BE SURE to ONLY login to binance.com
which is indicated by a GREEN Secure Lock
• Click on “Create an Account”
• Use your secure email address to register.*
• Use a strong Password - record in special notepad offline
• Review the Binance Terms of Use then click Agree to terms
• Click on the Register
• Slide the puzzle piece into the empty puzzle space
• Email verification pop up - sign into email you registered
• Open email from Binance and click Verify Email
• Once verified, login back into https://www.binance.com
• Slide the Puzzle piece across again.
Secure Binance Login Procedures
• Safety Risk Notice page will appear: Click on each box
• Click: I understand, Continue
• To set up your Authenticator and SMS notifications follow this guide:
• https://support.binance.com/hc/en-us/articles/115000433432-Google-2FA-
Guideline
• Make sure you enable SMS Authentication (Mobile Texting)
( Used for withdrawals and security modifications )
• You will need Bitcoin ( BTC ) in your wallet
• On the navigation bar ( TOP ) click: Funds then Deposits
• Scroll down the list of coins to find BTC (Bitcoin)
• Click: Copy Address or Click: Scan QR code
Depositing Bitcoin into Binance
* only deposit Bitcoin ( BTC to this address, other coins such as BCC deposited here cannot be recovered
• Now, go to your Bitcoin wallet ( Coinbase, Blockchain, Coinjar etc )
• Send the desired amount of Bitcoin to the address you copied
• To monitor your transaction, click: Funds then Transaction History
• Once your BTC arrives, to locate, click Funds then Balances
• You will see your Bitcoin in the appropriate column
• You are able to purchase all other coins using BTC
Downloading Binance app
Installing Binance app on your iPhone
• Perform a Google search at Google.com
• Search string: how to install binance app on iphone
• Click the first link: https://support.binance.com
• Now you are on Binance Support site
• Follow Step 1: Click on download link
• Pop-up appears: Click on install
• Go to Settings > General > Device Management
• Select NATEL,OOO
• Select Trust app
• Select Trust app again on Pop-Up
• Exit to home screen and open Binance app
• Select Allow to access your location on Pop-Up
Installing Binance app on your android phone
• Go to Google Play Store and search Binance Exchange
• Click INSTALL
What is Paper Trading and Why is it Used?
Paper Trading is recommended for all members when first beginning trading. The
purpose of paper trading is to enable learning trading basics without putting any of
your capital at risk. We recommend implementing this PDF training series as well
as watching and learning all of your Prosperity U video library, as a paper trader
first. If you DO NOT have adequate trading capital, we also recommend using the
unifii Referral Bonus to a) select trading friends to learn with and b) generate the
capital required to trade effectively.
Example of a simple Excel spread-sheet Paper Trading set-up:
Binance BNB tokens
When trading on the Binance exchange, you pay a trading fee each time a trade
is performed. The fee is charged on both Sell and Buy trades. The standard
Binance fee is 0.1%. If you own Binance tokens, you may pay your fees with
BNB ( Binance tokens ). This reduces your fees by 25% - from 0.1% to 0.075%.
Why should I buy Binance tokens (BNB)?
The follow steps will show you how to purchase BNB. You must have already
deposited BTC into your Binance exchange account.
• Hover over Exchange and select Basic
• Perform a search of BNB / BTC
• Enter the amount of BNB you wish to purchase and click Buy BNB
• Be sure to turn BNB ‘on’. First page upon login or go to ‘ Account ‘ page.
Formula for calculating BNB purchase.
Example: $3000 account balance X 0.075 per trade = a fee of $2.25. To have enough BNB for 10 Trades,
both BUY’s and SELL’s, ( 20 fees ) you would want to have $45.00 worth of BNB tokens.
Next, divide the current BNB price into the amount you need to determine the number of BNB tokens to
purchase. BNB current market price: $13.52 ÷ $45.00 = 3.33 BNB tokens
How to begin receiving your Telegram Signals
Choose the signal best for your schedule:
• DAILY: Fewer signals, best for busy schedules
• LIVE: Greater number of signals, schedule flexibility required
• Join the Telegram Group for the signal you chose to follow
• Login to your Back-office
• Click HOME
• Select Signal type you wish to follow
• Go to Google Play or Apple iStore
• Install Telegram app on your device
Note:
The focus of this document is
Beginner for Binance exchange.
First Steps: Receiving a Telegram Signal
• Login to your Back-office
• On “HOME” page
• Select signal you chose to follow
LIVE or DAILY
Bitcoin BinanceLIVE Signal
View Chart
Bitcoin BinanceDAILY Signal
View Chart
In the signal example above, your objective is to Exit BTC and trade it for USDT as
close to the signal displayed price as possible, whether LIVE or DAILY.
Prices can change quickly - so don’t be surprised if the signal price does not match
the exchange price.
Every trade will be moving between BTC and USDT. US Dollar Tether, is abbreviated
as USDT and is tied to and back by the fiat US dollar. See: Page 3 and CoinMarketCap.com for more details.
or USDT is a cryptocurrency issued on the Bitcoin blockchain.
Each USDT unit is backed by a U.S Dollar held in the reserves of Tether Limited
and can be redeemed through the Tether Platform. USDT can be transferred,
stored, spent, just like bitcoin or any other cryptocurrency.
When trading on Binance, USDT is used as a stable tradable asset when unifii
signals indicate an exit from BTC ( Exit ) BTC. In this case, inside the Binance
exchange, members can move their BTC value into USDT until a new BUY BTC
signal is issued by the unifii algorithm
What is USDT and Why is it Used?
Navigating your Binance Back-Office
• Hover over EXCHANGE in the Menu Bar
• Select BASIC
Locate the BTC/USDT pair in the right hand column
There are two (2) options available to sell BTC:
Sell Limit order: This option is used to try to get the price that was on the unifii
Signal. Sometimes this order will not be filled due to the market movement.
Sell Market order: This option will use the current market price as your sell
price. Ensuring your order is filled quickly. May not be filled at the signal price. 1
2
This Binance Beginner document teaches the most direct / simplest strategies for our new members. The Binance
Beginner strategy does NOT use Limit Orders – you will only be required to learn and use Market Orders.
Market Orders
For a Market Order:
• Select the Market tab.
• In the Sell BTC section, select the amount of BTC you wish to Sell.
• Market orders get sold almost immediately at the current market price.
Once your order is filled (BTC sold) your next step is always to protect your trade;
in this case, from the BTC market moving up unexpectedly. ( you SOLD expecting BTC
prices to drop ).
You will be conducting a: Buy Stop-Limit Order
• A standard Buy Stop-Limit Order would be 2 - 5% of BTC price at trade time.
Example:
• At trade time price of BTC is $8200 x 1.03 ( for 3% ) = $8446 stop price.
For more information on Stop-Limit Orders, see page 8
The process is as follows:
Setting your Stop-Limit Order for Sell / Exit
Price of BTC is $7460 multiply by 1.03 will give you the Buy Stop-Limit
Order of $7683.
Note: This example has you Selling BTC, expecting the BTC price to drop. If it rises instead and
hits $7683 your Buy Stop-Limit Order will trigger and successfully move you back into BTC so you
may profit from the increasing BTC trend.
• Calculate your Stop-Limit price using a % ( usually between 2% – 5% )
• Enter calculated amount (ex.$7683) into the Stop box as shown above.
• Enter a Limit Price slightly higher to ensure it being filled by the market(Remember you are Buying, which means someone else will be Selling to you. They would
want a price higher than the current Limit price).
• Enter your determined price into the Limit Row - higher than your Stop Price ie:
$7700. This order will be filled at the best price between $7683 and $7700.
Stop-Limit Steps:
Example Calculating a 3% Stop-Loss:
Setting your Stop-Loss for an Exit Signal:
Purpose:
You are Selling BTC ( trading for USDT ) because you expect the price to drop.
Setting a Stop-Limit Order will trigger automatically if the price of BTC goes up instead of down.
The Importance of Using Stop-Limit Orders
• Protects your assets if the market goes against your trade position
• The market can be very volatile
• The signals are not correct 100% of the time
• A SELL Stop-Limit Order is protection when holding Bitcoin
• A BUY Stop-Limit Order is protection when holding USDT
• It’s imperative to take these measures to limit losses
• Risk of capital can happen even if you do use Stop-Limit Orders
In the example above:
A. You were in a SELL / Exit . The trend went against you and BTC went UP rather than DOWN.
B. Your Stop - Loss was triggered and moved you into BTC – in this case, putting you into profit.
C. When the next BUY signal arrives remember that you are now already in a BUY position.
• Exit Signal was $6361 • Set your Buy Stop-Limit • In case the market reverses
chose a 2 – 5% Stop
Exit Signal was $6361
• Setting your Buy Stop-Limit • re-purchased BTC at $6500• Putting you into profit far
ahead of the next Buy Signal
* Create a NEW Stop-Loss based on your new position ‘B’ as this is considered a NEW trade.
A
B
C
New unifii signal: Entry / Buy BTC
Example: Daily Signal for Binance. A Buy Market Order @ 1.5 BTC is entered
into the Amount Box.
• note: remember, you will make a Market Order if you want to be certain your order will be filled.
• In the example above – if the Market Price was $7435 ( HIGHER than the Signal ) a Limit order
would not be filled unless the price drops.
• If the Market Price is LOWER than the Signal Price – Buy at Market Price
For a Market Order:
• Select the Market tab.
• In the Buy BTC section, select the amount of BTC you wish to Sell.
• Market orders get filled almost immediately at the current market price.
Buy BTC
1.500000000
Setting your Stop-Limit Order for Buy / Entry
• Once your Buy Market Order is filled you will need a Sell Stop-Limit order.
• Calculate the % or dollar amount: 2 - 5%
• The price of BTC: $7421 X 0.97 ( 3% ) = $7198 is Stop Price
• Set your Limit Price around 7185.
Shows trades saved with a Stop-Limit Order
Purpose:
You are Buying BTC because you expect the price to rise. Setting a Stop-Limit Order will trigger automatically if the price of BTC down up instead of up.
Cancelling a Stop-Loss
Image A is a screen shot of your Binance Stop-Limit order page. Once you have
set your Stop-Limit, you will receive a pop-up confirmation ( image B ).
A B
C
Image C shows your Open Orders. This page may be found under Orders on
your exchange Toolbar. Any Stop-Limit order may be canceled by selecting the
Cancel button attached to each Stop-Limit order.
Moving a Stop-Loss / Taking Profit
8th August6720.06
This is an advanced principle and is for maximizing basic trading results.
The principle of moving a Stop-Loss is designed to protect your profits when a trade
has gone well. In example A, a Sell signals was given. As BTC continues to drop,
you may choose to lower your initial Stop-Loss below your initial Exit / Sell signal.
Original Stop-Loss ( 2% - 5% )
[If you check your successful
trade before a NEW signal
has been issued, you may
choose to set a NEW
Stop-Loss to lock in profits.
Note: If the trend reverses, lowering your Stop-Limit order will
purchase BTC at a lower price than your original Stop-Limit Order.
?
Exit / Sell signal
New Locked Profit
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