How to make $100 a day from spot trading: A simple and effective guide 1. Set a realistic profit target Target: $100

How to make $100 a day from spot trading: A simple and effective guide

1. Set a realistic profit target

Target: $100 daily.

Strategy: Break the order into several stages. Try 4 trades with a profit of $25 each, or 2 trades with a profit of $50.

2. Required capital

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

If you have less capital, you will need to take on higher risk to reach $100.

3. Choose the right assets

Trade popular cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) with high volume and price movement.

This ensures quick entry and exit without significant price changes.

4. Trading strategy

Day trading: Short-term trades lasting a few minutes or hours.

Scalping: Make several small trades with a profit ranging from $10 to $25 each.

Breakout trading: Trade when the price breaks through key levels.

Swing trading: Keep the trade open for a day or two if the market trend is strong.

5. Use simple technical analysis

Use basic tools such as:

Moving averages: Instant trends.

Relative Strength Index: Discover if the currency is overbought or oversold.

Bollinger Bands: Measure volatility.

6. Risk management

Never risk more than 1-2% of your capital on any trade.

Example: With $10,000, risk between $100 and $200 on each trade.

Use a stop-loss order to protect your capital and a take-profit order to lock in profits.

7. Stay informed

Monitor the market, news, and any updates that may move prices.

Use alerts or news aggregators for quick updates.

8. Diversify your trades

Do not bet all your money on one currency. Spread your trades across several different cryptocurrencies.

9. Track your progress

Keep a simple record of your trades to see what works and what you can improve.

10. Simple daily profit plan

If you have $5000 and want a 2% return:

2% of $5000 = $100.

Complete 3 trades aiming for a profit of $33 each

With this simple approach, discipline, and risk management, aim to make $100 a day from spot trading. $BTC