1. Set a Realistic Profit Target
You're aiming for $100 daily, so break this goal into manageable trades. For example, 4 trades with a $25 profit or 2 trades with a $50 profit.
2. Capital Requirement
To achieve this, you need sufficient capital to manage risk and volatility. A 1% daily return would require at least $10,000, but with smaller capital, your risk will increase to hit the same target.
3. Choose Liquid and Volatile Assets
Focus on assets like BTC, ETH, or high-volume altcoins. These offer the right mix of liquidity and volatility to make profits in daily price swings.
4. Trading Strategy
Day Trading: Target short-term opportunities. Use strategies like:
Scalping: Multiple small trades to accumulate profits.
Breakout Trading: Enter trades when assets break key levels.
Swing Trading: Hold positions for a day or two to ride strong market trends.
5. Technical Analysis
Use technical tools for precision:
Moving Averages: To identify trends.
RSI: Spot overbought/oversold conditions.
Bollinger Bands: Assess volatility.
MACD: Gauge momentum shifts.
6. Risk Management
Risk only 1-2% of your capital per trade. For a $10,000 balance, risk $100-$200. Use stop-loss and take-profit orders, aiming for a 1:2 risk-to-reward ratio.
7. Stay Informed
Monitor news and events that could impact the market. Use price alerts and stay on top of market trends.
8. Diversify Your Trades
Spread your risk across different assets and avoid going all-in on a single trade.
9. Track Your Performance
Keep a trading journal, review your trades daily, and refine your strategy to improve consistency.
10. Daily Profit Calculation
If you have $5,000, aim for a 2% return: 2% of $5,000 = $100. Break it into smaller trades, for example, 3 trades with $33 each. Stay disciplined, and youâll scale this strategy with time.
Focus on consistency
discipline, and adapting to market conditions to hit your daily profit goal.