If you're looking to earn $100 daily from spot trading, this guide provides a streamlined strategy for beginners to follow.
1. Set a Daily Profit Target:
Aim for a daily profit of $100, broken into smaller trades:
4 trades of $25 each.
2 trades of $50 each.
2. Initial Capital Requirement:
Start with a minimum of $10,000 for lower risk.
With smaller capital, expect higher risks and lower daily profits.
3. Choose the Right Assets:
Focus on established assets like Bitcoin (BTC) and Ethereum (ETH) for more predictable price movements.
4. Trading Strategies:
Day Trading: Hold positions for minutes to hours.
Scalping: Engage in small trades for quick profits.
Breakout Trading: Trade when prices break key levels.
Swing Trading: Hold positions for 1-2 days to capture short-term trends.
5. Utilize Technical Analysis:
Use Moving Averages, RSI, and Bollinger Bands to gauge market trends and volatility.
6. Risk Management:
Limit risk to 1-2% of capital per trade.
Example: With $10,000, keep risk between $100-$200.
7. Stay Informed:
Monitor market news and set alerts for real-time updates on significant developments.
8. Diversify Trades:
Avoid concentrating on a single asset; spread trades across multiple cryptocurrencies.
9. Keep a Trading Journal:
Record and review your trades to identify patterns and refine strategies.
10. Calculate Daily Profit:
If you start with $5,000, aim for a 2% return:
2% of $5,000 = $100.
Achieve this with 3 trades, making $33 per trade.
With consistent strategies and risk management, achieving $100 daily is possible. Patience, discipline, and continuous learning are crucial to your success.
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