1. Set Realistic Goals

Targeting $100 a day is achievable by breaking it down. For instance, aim for four trades that earn $25 each or two trades with a $50 profit. This will make your daily target feel more manageable.

2. Determine Your Capital

To trade more comfortably, it's recommended to start with a capital of $10,000. If you're starting with less, be prepared to take on slightly higher risks to reach the $100 mark.

3. Select the Right Cryptocurrencies

Focus on highly liquid assets such as Bitcoin ($BTC ) and Ethereum ($ETH ). These are less volatile, allowing for smoother transactions and better control over your trades.

4. Adopt Proven Trading Techniques

Day Trading: Enter and exit positions within hours.

Scalping: Make frequent trades, with profits ranging from $10 to $25 per trade.

Breakout Trading: Capitalize when prices break significant levels.

Swing Trading: Hold trades for 1-2 days if there is a strong trend to ride.

5. Master Basic Technical Analysis

Moving Averages help to spot trends.

RSI lets you know if an asset is overbought or oversold.

Bollinger Bands assist in evaluating market volatility.

6. Risk Management is Key

Never risk more than 1-2% of your total capital per trade. For example, if you have $10,000, your risk should not exceed $100-$200 per trade. Stop-loss orders are essential to safeguard your capital, while take-profit orders help secure your earnings.

7. Stay Up-to-Date

Keep an eye on market movements and the latest news. Utilize tools like news aggregators or price alerts to receive real-time updates that may impact your trades.

8. Diversify to Mitigate Risk

Spread your investments across different cryptocurrencies. This way, you avoid concentrating all your funds in one asset, reducing overall risk.

9. Track and Learn from Your Trades

Maintain a simple logbook of your trading activity. Review it frequently to refine your strategy and improve performance over time.

10. Daily Profit Plan

Let’s say you have $5,000 and aim for a 2% daily return:

2% of $5,000 = $100. You can achieve this by making three trades, each targeting a profit of around $33.

By following this structured and disciplined approach, you can steadily work towards earning $100 per day through spot trading!

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