**How to Make $100 Daily from Spot Trading: A Simple Guide**
click here and collect free ustd đđđ
1. **Set a Profit Goal**: Aim for $100 each day. You could do this with 4 trades of $25 each or 2 trades of $50.
2. **Capital Needed**: Start with at least $10,000 for safer trading. If you have less, be ready to take on more risk.
3. **Pick the Right Assets**: Focus on popular cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) for easier trades with less price movement.
4. **Trading Strategies**:
- **Day Trading**: Make quick trades, holding for minutes or hours.
- **Scalping**: Make many small trades, aiming for $10 to $25 profit each.
- **Breakout Trading**: Trade when prices move past important levels.
- **Swing Trading**: Hold trades for 1-2 days if the trend is strong.
5. **Use Basic Technical Analysis**:
- **Moving Averages**: Spot trends.
- **RSI**: Check if an asset is overbought or oversold.
- **Bollinger Bands**: Assess price volatility.
6. **Manage Risks**: Limit your risk to 1-2% of your capital per trade. For example, with $10,000, risk only $100-$200. Use stop-loss and take-profit orders to protect your money.
7. **Stay Updated**: Keep an eye on market news and events that could affect prices. Use alerts for real-time updates.
8. **Diversify**: Donât put all your money into one asset. Spread your trades across different cryptocurrencies.
9. **Track Your Trades**: Keep a log to analyze your performance and find areas to improve.
10. **Daily Profit Plan**: If you have $5,000 and want to earn 2%:
- 2% of $5,000 = $100.
- Make 3 trades, aiming for $33 profit each.
By sticking to these steps with discipline and good risk management, you can work towards making $100 a day from spot trading.
