How to Earn $100 Daily with Spot Trading: Simple and Effective Guide

1. Set a Realistic Profit Goal

Goal: $100/day.

Strategy: Break it down. Try to make 4 trades with $25 profit each, or 2 trades with $50.

2. Necessary Capital

Start with at least $10,000 for safer trading.

If you have less, more risk

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 large price changes.

4. Trading Strategy

Day Trading: Short-term trades that last a few 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 like:

Moving Averages: Detect trends.

RSI: Determine if a coin is oversold or overbought.

Bollinger Bands: Measure 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 secure gains.

7. Stay Updated

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 Trades

Don't bet everything on a single coin. Spread your trades across several different cryptocurrencies.

9. Track Your Progress

Keep a simple record of your trades to see what is working 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 a profit of $33 each.

With this simple approach, discipline, and good risk management, you can work towards earning $100 daily with spot trading.