How to Make $100 a Day from Spot Trading: Simple and Effective Guide
1. Set a realistic profit goal
Goal: $100/day.
Strategy: Break it down. Try 4 trades of $25 profit each, or 2 trades of $50.
2. Capital Required
Start with at least $10,000 for safer trading.
If you have less, you will have to accept more risk to reach $100.
3. Choose the right assets
Trade popular cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) that have high volume and price movement.
This ensures quick entry and exit without major price changes.
4. Strategy in trading
Day Trading: Short-term trades lasting a few minutes or hours.
Scalping: Make several small trades for $10-$25 each.
Breakout Trading: Trade when price breaks out of 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 like:
Moving Averages: Spot Trends.
RSI: Find out if a currency is undervalued or overvalued.
Bollinger Bands: Measures volatility.
6. Risk Management
Never risk more than 1-2% of your capital on any trade.
Example: With $10,000, risk $100-$200 per trade.
Use stop-loss to protect your capital and take-profit to lock in gains.
7. Stay up to date
Keep an eye on the market, news and any updates that could move prices.
Use alerts or news aggregators for quick updates.
8. Diversify your operations
Don't bet everything on one coin. Spread your trades across a few different cryptocurrencies.
9. Track your progress
Keep a simple log of your operations to see what works and where you can improve.
10. Simple Daily Profit Plan
If you have $5,000 and want a 2% return:
2% of $5,000 = $100.
Make 3 trades aiming for $33 profit each.
With this simple approach, discipline, and good risk management, you can work towards making $100 a day from spot trading.
