If you’re working with $500 and want a realistic and achievable approach to make 10% profit in a month, here’s a practical plan:
Step 1: Focus on Low-Risk Trading Pairs
Stick to pairs like $BTC and $ETH , as these are less volatile but still offer good opportunities for steady gains. They're widely traded and easier to predict for beginners.
Step 2: Scalping or Short-Term Trading
Use a scalping strategy to take small, quick profits multiple times a week:
- Look for price dips near support levels and sell near resistance levels.
- Use tools like moving averages (MA) and Relative Strength Index (RSI) to confirm trends.
Example: If BTC is trading at $84,000 and shows support, buy and aim to sell at $84,500-$85,000 for a small profit. Repeat with small trades.
Step 3: Diversify into Low-Risk Passive Earning Options
Allocate 30% of your capital ($150) to Binance Earn Flexible Savings. This way, you’ll generate a small, risk-free yield on your funds while actively trading the remaining $350.
Step 4: Manage Risks
- Only risk 1%-2% ($5-$10) of your trading capital per trade.
- Set stop-loss orders to minimize losses if the market moves against you.
Step 5: Consistency Over Gambling
Instead of trying to double your money in one trade, aim for small, consistent gains (1%-3% per trade) . Over the course of a month, this can realistically add up to 10%-15% total profit