Leverage is a powerful tool that can help you increase your profits when trading on Binance. However, it can also lead to greater losses if the market moves against you.
As such, it is important to understand how leverage works and how to adjust it to suit your own risk appetite.
Leverage essentially allows you to trade with more money than you have in your account. For example, if you have $100 in your account and you trade with leverage of 10x, you are effectively trading with $1,000.
This can help you make bigger profits if the market moves in your favor, but it can also lead to greater losses if the market moves against you.
To adjust the leverage on your Binance account, simply go to the “Leverage” section under “Account.” Here you will be able to see what your current leverage is set at and adjust it accordingly.
It is important to note that you should only adjust your leverage up or down in small increments as large changes can lead to drastic results.
Generally speaking, leverage should be used with caution as it can amplify both profits and losses. However, if used correctly, it can be a valuable tool in your arsenal.