: A simple and effective guide 1. Set a realistic profit goal Goal: $100 How to earn $100 daily from spot trading: A simple and effective guide 1. Set a realistic profit goal Goal: $100 daily. Strategy: Break it down into several phases. Try 4 trades aiming for $25 each, or 2 trades aiming for $50 each. 2. Required capital Start with at least $10,000 for safer trading. If you have less capital, you will have to take on higher risks 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. Quick speculation: Make several small trades aiming for a profit between $10 and $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 (RSI): Discover if the currency 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 between $100 and $200 on each trade. Use a stop-loss order to protect your capital, and a take-profit order $ETH
To secure 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 Don't 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. A 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 aim to make $100 daily from spot trading $BTC $