📢 How to Earn $100 Daily from Spot Trading: A Beginner's Guide 💥
1. Set a Clear Profit Target: Aim for $100 profit each day. You can do this with multiple trades, like 4 trades of $25 each or 2 trades of $50 each.
2. Starting Capital: Ideally, start with $10,000 to trade safely. If you have less, be ready for higher risks and smaller profits.
3. Pick the Right Assets: Focus on well-known cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). They usually have more stable prices, making them easier to trade.
4. Trading Strategies:
Day Trading: Hold trades for minutes or hours.
Scalping: Make lots of small trades, aiming for $10 to $25 profit each.
Breakout Trading: Trade when a coin's price breaks key levels.
Swing Trading: Hold trades for a day or two to benefit from short-term trends.
5. Use Technical Analysis:
Moving Averages: Find market trends.
RSI (Relative Strength Index): See if a coin is overbought or oversold.
Bollinger Bands: Track price volatility for possible moves.
6. Risk Management: Risk only 1-2% of your capital per trade. If you have $10,000, keep the risk between $100-$200. Use stop-loss and take-profit orders to protect your money.
7. Stay Updated: Follow news that could affect prices. Set up alerts for real-time updates on important events.
8. Diversify Your Trades: Don’t put all your money in one coin. Spread your trades across different cryptocurrencies to reduce risk.
9. Keep Records: Maintain a trading journal to track your trades, find patterns, and improve your strategy.
10. Daily Profit Plan: If you start with $5,000 and want a 2% return:
2% of $5,000 = $100
You could achieve this with 3 trades, aiming for $33 profit per trade.
