How to make $100 a day in spot trading: a simple and effective guide
1. Set a realistic profit goal
Goal: $100/day.
Strategy: break it down. Try 4 trades with a profit of $25 each or 2 trades with a profit of $50 each.
2. Required capital
Start with at least $10,000 for safer trading.
If you have less, you'll have to take on greater risk to reach $100.
3. Choose the right assets
Trade popular cryptocurrencies like Bitcoin $BTC or Ethereum $ETH , which have high volume and price fluctuations.
This allows for quick entry and exit without significant price changes.
4. Trading strategy
Day trading: short-term trades lasting several minutes or hours.
Scalping: make several small trades of $10-$25 each.
Breakout trading: trade when the price breaks key levels.
Swing trading: hold a trade for 1-2 days if the market trend is strong.
5. Use simple technical analysis
Use basic tools such as:
Moving averages: identify trends.
RSI: find out if the coin is oversold or overbought.
Bollinger Bands: measure volatility.
6. Risk management
Never risk more than 1-2% of your capital on a single trade.
Example: with $10,000, risk $100-$200 per trade.
Use stop-loss to protect your capital and take-profit to lock in profits.
7. Stay informed
Keep an eye on the market, news, and any updates that may affect prices.
Use alerts or news aggregators for quick updates.
8. Diversify your trades
Don't put everything on one coin. Spread your trades among several different cryptocurrencies.
9. Track your progress
Keep a simple journal of your trades to see what works and where you can improve.
10. A simple daily profit plan
If you have $5,000 and want to earn 2% income:
2% of $5,000 = $100.
Make 3 trades aiming for a profit of $33 each.
With this simple approach, discipline, and good risk management, you can work towards making $100 a day in spot trading.
