A Simple and Practical Guide
1. Set a clear daily goal
Aim to earn $100 each day. You can split this into smaller trades, like four trades with $25 profit or two trades with $50 profit.
2. Decide your starting capital
Ideally, start with $10,000 for safer trades. With less capital, you’ll need to take higher risks to reach $100 daily.
3. Choose the right cryptocurrencies
Focus on assets like Bitcoin or Ethereum that have high trading volume and regular price movement. These are easier to trade quickly.
4. Follow a reliable trading strategy
Day trading involves holding positions for minutes or hours.
- Scalping means doing several small trades aiming for $10 to $25 profit each.
-Breakout trading focuses on price movements when coins break key levels.
- Swing trading lets you hold positions for 1–2 days during strong market trends.
5. Use basic technical analysis
Use moving averages to spot trends, RSI to identify overbought or oversold conditions, and Bollinger Bands to check volatility.
6. Manage your risk
Don’t risk more than 1 to 2 percent of your capital on a single trade. If you have $10,000, limit each trade’s risk to $100–$200. Always use stop-loss and take-profit orders.
7. Stay updated with market news
Watch crypto news and updates that can affect prices. Use alerts and news feeds to stay ahead.
8. Diversify your trades
Avoid putting all your money into one coin. Spread your trades across a few different assets to reduce risk.
9. Keep a trading journal
Log each trade. Review your performance to understand what works and improve your strategy.
10. A sample daily profit plan
If you have $5,000 and aim for 2 percent returns, that’s $100 a day.
Try making three trades with around $33 profit each to reach your target.
With a consistent approach, risk control, and discipline, earning $100 daily through spot trading is a realistic goal.
