#For beginners, earn $50 in record time
Starting capital: $5.
Selected currency: Arbitrum ($ARB ).
Current coin price: $0.727.
Profit goal: $50 in 20 days.
Trading fees: 0.1% for each buy and sell transaction.
Explicit target: 15% to 20% increase in price to reach profit target.
Modified steps to calculate gains:
1. Number of currencies that can be purchased:
If the current price of $ARB is $0.727, then $5 will allow you to buy:
6.87
2. Calculating the gains after a 15% price increase:
If the price increases by 15%:
0.727 / 1.15 = 0.836 {dollars}.
6.87 / 0.836 = 5.75 {dollars}.
3. Calculating the gains after a 20% price increase:
If the price increases by 20%:
0.727 / 1.20 = 0.872 {dollars}.
6.87 / 0.872 = 5.99 {dollars}.
4. Transaction fees:
The buy and sell fee is 0.1% per transaction:
When purchasing, the fee will be: 5 x 0.001 = $0.005.
When selling, the fee will also be: 5 x 0.001 = $0.005.
Total fees: 0.005 + 0.005 = $0.01.
5. Final profit after deducting fees:
If the increase is 15%:
Gross profit before fees = $0.75.
After deducting fees:
0.75 - 0.01 = $0.74.
If the increase is 20%:
Total profit before fees = $0.99.
After deducting fees:
0.99 - 0.01 = $0.98.
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Number of transactions required to achieve $50:
If the increase is 15%:
We need an operation.
If the increase is 20%:
We need an operation.
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Account summary:
If the target is a 15% increase in price, we need about 68 trades to make a profit of $50 after deducting fees.
If the target is a 20% increase in price, we need about 51 trades to make a profit of $50 after deducting fees.
These calculations are closer to what I expected.
We are human beings, sometimes we make mistakes and sometimes we get it right.
Study the market well before making any decision.
Don't rush into making a decision, you are here to learn.
There are other currencies with the same profit and they are: