How to Earn $100 a Day with Spot Trading
A Simple and Practical Guide
1. Set a Clear Daily Goal
Aim to earn $100 each day. You can break this down into smaller trades, such as four trades with $25 profit each or two trades with $50 profit each.
2. Decide Your Initial Capital
Ideally, start with $10,000 for safer trades. With less capital, you will need to take on greater 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 making several small trades aiming for between $10 and $25 profit each.
- Breakout trading focuses on price movements when coins break key levels.
- Swing trading allows you to hold positions for 1 to 2 days during strong market trends.
5. Use Basic Technical Analysis
Use moving averages to detect trends, RSI to identify overbought or oversold conditions, and Bollinger Bands to check for volatility.
6. Manage Your Risk
Do not risk more than 1 to 2 percent of your capital on a single trade. If you have $10,000, limit the risk of each trade to $100–$200. Always use stop-loss and take-profit orders.
7. Stay Updated with Market News
Watch for news and updates about cryptocurrencies that may affect prices. Use alerts and news feeds to stay ahead.
8. Diversify Your Trades
Avoid putting all your money into a single coin. Spread your trades across a few different assets to reduce risk.
9. Keep a Trading Journal
Record each trade. Review your performance to understand what works and improve your strategy.
